The annual salary statistics of insurance sales agents in Richmond, Virginia is shown in Table 1. The wage statistics of insurance sales agents in Richmond 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 | $27,730 |
| 25th Percentile Wage | $37,600 |
| 50th Percentile Wage | $60,330 |
| 75th Percentile Wage | $98,080 |
| 90th Percentile Wage | $171,970 |
Table 1 shows the average annual salary for insurance sales agents in Richmond, Virginia in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $171,970. The median (50th percentile) annual salary is $60,330. The average annual salary for the bottom 10 percent earners is $27,730.
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 | $60,330 | 1.26% | 24.96% |
| 2021 | $59,570 | 19.62% | - |
| 2020 | $47,880 | -16.14% | - |
| 2019 | $55,610 | -12.82% | - |
| 2018 | $62,740 | 18.60% | - |
| 2017 | $51,070 | -2.11% | - |
| 2016 | $52,150 | 16.72% | - |
| 2015 | $43,430 | -0.18% | - |
| 2014 | $43,510 | 10.43% | - |
| 2013 | $38,970 | -16.17% | - |
| 2012 | $45,270 | - | - |
From Table 3 we note that with a median annual salary of $60,330, Richmond is the second highest paying city for insurance sales agents in state of Virginia, following the highest paying city Southside Virginia nonmetropolitan area (median annual salary of $60,830). Compared with Southside Virginia nonmetropolitan area, the median annual salary of insurance sales agents in Richmond is .8 percent (.8%) lower.