Insurance sales agents

Detailed Occupation

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2020 Workforce

508k

Average Age

44.8

Estimated Job Growth

5.49%

10-year projection

Average Salary

$76,206

Average Male Salary

$98,545

Average Female Salary

$55,016

About

Insurance sales agents are most often employed by the Insurance carriers industry. The average yearly wage for Insurance sales agents was $76,206 in 2016. The top 3 most similar occupations to Insurance sales agents by wage are Military officer special & tactical operations leaders, Diagnostic medical sonographers, and Computer occupations, all other.

Insurance sales agents are part of the Sales & related occupations, along with Firstline supervisors of retail sales workers, Firstline supervisors of nonretail sales workers, Cashiers, Counter & rental clerks, Parts salespersons, and 13 more.

The top 3 locations that employ the most Insurance sales agents are Hillsborough County (South County) PUMA, FL, Jacksonville City (Southeast) PUMA, FL, and Hillsborough County (North Central) PUMA, FL. The top 3 locations with a relatively high concentration of Insurance sales agents are Hillsborough County (South County) PUMA, FL, Ocala City PUMA, FL, and Jacksonville City (Southeast) PUMA, FL.

Photo by Aleksi Aaltonen

Information on the businesses and industries that employ Insurance sales agents and on wages and locations for those in the field. Insurance carriers is the industry that employs the most Insurance sales agents, both by share and by number, though the highest paid industry for Insurance sales agents, by average wage, is Legal services. Insurance sales agents are paid most in Amesbury Town City PUMA, MA but are relatively concentrated in Hillsborough County (South County) PUMA, FL.

Wages

Yearly Wage

$76,206

AVERAGE SALARY

± $3,132

In 2020, Insurance sales agents earned an average of $76,206, $20,252 more than than the average national salary of $55,954.

Military officer special & tactical operations leaders make somewhat more than Insurance sales agents while Computer occupations, all other make somewhat less. This chart shows the various occupations closest to Insurance sales agents as measured by average annual salary in the US.

Wage Distribution

0.475

WAGE GINI

In 2015, Insurance sales agents had a wage GINI coefficient of 0.475, which is lower than than the national average of 0.478. In other words, wages are distributed more evenly for Insurance sales agents (shown in red) than for the overall labor force (shown in gray).

Wage by Location

HIGHEST PAYING PUMAS

This map shows the Public Use Microdata Areas (PUMAs) in the United States shaded by average annual wage for Insurance sales agents.

Spatial Concentration

PUMAs with a Relatively High Concentration of Insurance sales agents

This map displays which Public Use Microdata Areas (PUMAs) in the United States have a relatively high population of Insurance sales agents.

Industries

Most Common

The most common industries employing Insurance sales agents, by number of employees, are Insurance carriers, Agencies, brokerages, and other insurance related activities, Banking & related activities, Nondepository credit & related activities, Securities, commodities, funds, trusts & other financial investments, Business support services, General medical and surgical hospitals, and specialty (except psychiatric and substance abuse) hospitals, Savings institutions, including credit unions , Lessors of real estate, and offices of real estate agents and brokers, Offices of physicians, and Accounting, tax preparation, bookkeeping & payroll services.

Highest Paying

The highest paying industries for Insurance sales agents, by average wage, are Legal services, Securities, commodities, funds, trusts & other financial investments, and Telecommunications, except wired telecommunications carriers .

Industries by Share

508k

2020 Workforce

± 17,474

1.59%

1 YEAR GROWTH

± 4.8%

The number of people employed as Insurance sales agents has been growing at a rate of 1.59%, from 500,320 people in 2019 to 508,280 people in 2020.

This graphic shows the share of Insurance sales agents employed by various industries. Insurance carriers employs the largest share of Insurance sales agents at 63.2%, followed by Agencies, brokerages, and other insurance related activities with 33.6% and Banking & related activities with 0.598%.

Diversity

Demographic information on Insurance sales agents in the US. The average age of male Insurance sales agents in the workforce is 45.9 and of female Insurance sales agents is 43.7, and the most common race/ethnicity for Insurance sales agents is White (Non-Hispanic).

Composition by Sex

247k

MALE WORKFORCE

± 12,202

261k

FEMALE WORKFORCE

± 12,528

51.3% of Insurance sales agents are Female, making them the more common sex in the occupation. This chart shows the sex breakdown of Insurance sales agents.

Race & Ethnicity

Most Common Race or Ethnicity of Insurance sales agents

White (Non-Hispanic)
Black (Non-Hispanic)
White (Hispanic)

70.5% of Insurance sales agents are White (Non-Hispanic), making that the most common race or ethnicity in the occupation. Representing 9.42% of Insurance sales agents, Black (Non-Hispanic) is the second most common race or ethnicity in this occupation. This chart shows the racial and ethnic breakdown of Insurance sales agents.

Age by Sex

45.9

AVERAGE MALE AGE

± 0.742

43.7

AVERAGE FEMALE AGE

± 0.64

The median age of Insurance sales agents is 44.8, and Male employees are generally 2.22 years older than than their Female counterparts.

Education

Data on higher education choices for Insurance sales agents from The Department of Education and Census Bureau. The most common major for Insurance sales agents is Business but a relatively high number of Insurance sales agents hold a major in Business.

Majors

ACS PUMS data only shows the major for bachelor's degrees. However, we can filter the data based on highest degree obtained.

MOST COMMON MAJORS

MOST SPECIALIZED MAJORS

Skills

Data on the critical and distinctive skills necessary for Insurance sales agents from the Bureau of Labor Statistics. Insurance sales agents need many skills, but most especially Reading Comprehension, Active Listening, and Speaking. The revealed comparative advantage (RCA) shows that Insurance sales agents need more than the average amount of Persuasion, Negotiation, and Mathematics.

Radar Distribution

Bar Chart

Projections

Projections on job growth for Insurance Sales Agents from the Bureau of Labor Statistics. The 10-year national workforce is projected to grow 3.71%, but Insurance Sales Agents are expected to see a growth of 5.49% over the same period. This occupation is expected to grow more than the national average.

Job Growth

5.49%

Estimated Job Growth

10-year Projection

3.71%

National Growth

10-year Projection

This line chart shows the projected 10-year growth in the number of jobs for Insurance Sales Agents. This profession is expected to grow more than than 3.71%, the average rate of national job growth.