The annual salary statistics of insurance sales agents in Grand Rapids-Wyoming, Michigan is shown in Table 1. The wage statistics of insurance sales agents in Grand Rapids-Wyoming is based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2022 and published in April 2023 [1].
| Percentile Bracket | Average Annual Salary |
|---|---|
| 10th Percentile Wage | $38,430 |
| 25th Percentile Wage | $46,390 |
| 50th Percentile Wage | $61,710 |
| 75th Percentile Wage | $87,290 |
| 90th Percentile Wage | $133,500 |
Table 1 shows the average annual salary for insurance sales agents in Grand Rapids-Wyoming, Michigan in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $133,500. The median (50th percentile) annual salary is $61,710. The average annual salary for the bottom 10 percent earners is $38,430.
The table and chart below show the trend of the median salary of insurance sales agents from 2012 to 2022.
| Year | Median Salary | Yearly Growth | 10-Year Growth |
|---|---|---|---|
| 2022 | $61,710 | -0.16% | 30.72% |
| 2021 | $61,810 | -6.03% | - |
| 2020 | $65,540 | 10.53% | - |
| 2019 | $58,640 | 9.00% | - |
| 2018 | $53,360 | 9.54% | - |
| 2017 | $48,270 | 4.10% | - |
| 2016 | $46,290 | -5.98% | - |
| 2015 | $49,060 | 11.74% | - |
| 2014 | $43,300 | -10.95% | - |
| 2013 | $48,040 | 11.01% | - |
| 2012 | $42,750 | - | - |
From Table 3 we note that the median annual salary of $61,710 in Grand Rapids-Wyoming is in the middle of salary range for insurance sales agents in state of Michigan. In comparison, the annual salary of insurance sales agents in Grand Rapids-Wyoming is 3.5 percent (3.5%) lower than that in the highest paying South Bend-Mishawaka and 34.2 percent (34.2%) higher than that in the lowest paying Monroe.