Insurance sales agents

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Total Workforce

490k

Average Age

44.7

Estimated Job Growth

9.93%

10-year projection

Average Salary

$74,115

Average Male Salary

$96,761

Average Female Salary

$51,481

About

Employment

Diversity

Education

Skills

Growth Projections

About

Insurance sales agents are most often employed by the Insurance carriers & related activities industry. The average yearly wage for Insurance sales agents was $74,115 in 2016. The top 3 most similar occupations to Insurance sales agents by wage are Ship & boat captains & operators, Education administrators, and Insurance underwriters.

The top 3 locations that employ the most Insurance sales agents are Kendall & Grundy Counties PUMA, IL, West Des Moines & Urbandale Cities PUMA, IA, and Hillsborough County (South County) PUMA, FL. The top 3 locations with a relatively high concentration of Insurance sales agents are St. Bernard, Jefferson (South) & Plaquemines Parishes PUMA, LA, Kendall & Grundy Counties PUMA, IL, and Greater Delray Beach City PUMA, FL.

Photo by Aleksi Aaltonen

Sales & related occupationsSales & Office Occupations

Employment

Information on the businesses and industries that employ Insurance sales agents and on wages and locations for those in the field. Insurance carriers & related activities 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 Car Dealers. Insurance sales agents are paid most in Costa Mesa & Fountain Valley Cities PUMA, CA but are relatively concentrated in St. Bernard, Jefferson (South) & Plaquemines Parishes PUMA, LA.

Wages

Yearly Wage

$74,115

AVERAGE SALARY

± $3,168

In 2017, Insurance sales agents earned an average of $74,115, $22,051 more than than the average national salary of $52,065.

Insurance underwriters make somewhat more than Insurance sales agents while Ship & boat captains & operators make somewhat less. This chart shows the various occupations closest to Insurance sales agents as measured by average annual salary in the US.

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Wage Distribution

0.491

WAGE GINI

In 2017, Insurance sales agents had a wage GINI coefficient of 0.491, which is higher than than the national average of 0.479. In other words, wages are distributed less evenly for Insurance sales agents (shown in red) than for the overall labor force (shown in gray).

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Wage by Location

HIGHEST PAYING PUMAS

  1. Costa Mesa & Fountain Valley Cities PUMA, CA

  2. Allegheny County (West) PUMA, PA

  3. St. Landry & Evangeline Parishes PUMA, LA

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

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Spatial Concentration

PUMAs with a Relatively High Concentration of Insurance sales agents

  1. Between Loop TX-1604 & Loop I-410 PUMA, TX (79500US4805910)

  2. Kendall & Grundy Counties PUMA, IL

  3. St. Bernard, Jefferson (South) & Plaquemines Parishes PUMA, LA

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

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Industries

Most Common

The most common industries employing Insurance sales agents, by number of employees, are Insurance carriers & related activities, Banking & related activities, and Securities, commodities, funds, trusts & other financial investments.

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Highest Paying

The highest paying industries for Insurance sales agents, by average wage, are Car Dealers, Insurance carriers & related activities, and Real estate.

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Industries by Share

490k

2017 Workforce

± 17,153

-0.0267%

1 YEAR GROWTH

± 4.95%

The number of people employed as Insurance sales agents has been declining at a rate of -0.0267%, from 489,880 people in 2016 to 489,749 people in 2017.

This graphic shows the share of Insurance sales agents employed by various industries. Insurance carriers & related activities employs the largest share of Insurance sales agents at  97.4%, followed by Banking & related activities with 0.418% and Securities, commodities, funds, trusts & other financial investments with 0.361%.

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Diversity

Demographic information on Insurance sales agents in the US. The average age of male Insurance sales agents in the workforce is 45.3 and of female Insurance sales agents is 44.1, and the most common race/ethnicity for Insurance sales agents is White.

Gender Composition

245k

MALE WORKFORCE

± 12,138

245k

FEMALE WORKFORCE

± 12,141

50% of Insurance sales agents are Female, making them the more common gender in the occupation. This chart shows the gender breakdown of Insurance sales agents.

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Race & Ethnicity

Most Common Race or Ethnicity of Insurance sales agents

  1. White

  2. Black

  3. Asian

80.9% of Insurance sales agents are White, making that the most common race or ethnicity in the occupation. Representing 9.91% of Insurance sales agents, Black is the second most common race or ethnicity in this occupation. This chart shows the racial and ethnic breakdown of Insurance sales agents.

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Age by Gender

45.3

AVERAGE MALE AGE

± 0.742

44.1

AVERAGE FEMALE AGE

± 0.662

The median age of Insurance sales agents is 44.7, and Male employees are generally 1.19 years older than than their Female counterparts.

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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

  1. Business

  2. Social Sciences

  3. Education

MOST SPECIALIZED MAJORS

  1. Business

  2. Agriculture

  3. Social Sciences

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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 Active Listening, Reading Comprehension, and Speaking. The revealed comparative advantage (RCA) shows that Insurance sales agents need more than the average amount of Negotiation, Persuasion, and Service Orientation.

Radar Distribution

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Bar Chart

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Growth Projections

Projections on wages and job growth for Insurance sales agents from the Bureau of Labor Statistics. The ten-year national workforce is projected to grow 7.4%, but Insurance sales agents are expected to see a growth of 9.93% over the same period. This occupation is expected to grow higher than the national average.

Job Growth

9.93%

ESTIMATED GROWTH

7.4%

NATIONAL AVERAGE

This line chart shows the 10-year projected employment growth (from 2016 to 2026) for Insurance sales agents. This profession is expected to grow faster than 7.4%, the average rate of national job growth.

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