Insurance Agent Hourly Pay in Algonquin, IL: $28.49 (2026)
Quick Answer:Hourly pay for a insurance agent working in Algonquin, IL runs $28.49 at the median for 2026 — annualizing to $59,251 at a standard 2,080-hour year. Figures projected from BLS OEWS 2025 (SOC 41-3021). Weighted against Algonquin's regional price level (BEA RPP 97.1, 3% below national), each hour of work buys what $29.34 nationally would. A 24-hour part-time schedule grosses $35,556 per year.
Based on BLS state-level estimates · View source
For insurance agents in Algonquin, Illinois, the 2026 projected hourly median pay is $28.49, which is significantly below the national average of $31.02. This wage impacts part-time professionals, such as those working three days a week, allowing for flexible schedules while still earning a competitive rate in a variety of workplaces. The hourly range spans from $16.52 at entry-level jobs to $44.15 for top earners, revealing the potential for substantial income as agents build their clientele and expertise. Notably, these hourly figures are derived from projections based on annual salary estimates, illustrating both the earning potential and the variability according to experience and agency type.
About the Algonquin Market
Salary estimated from Illinois average ($68,000) adjusted for local cost of living.
Insurance Agent Hourly Wage Breakdown
| Percentile | Hourly Rate | Per 8hr Shift |
|---|---|---|
| Entry Level (P10) | $16.52 | $132.19 |
| Lower Range (P25) | $22.51 | $180.10 |
| Median (P50) | $28.49 | $227.92 |
| Upper Range (P75) | $36.47 | $291.74 |
| Top Earners (P90) | $44.15 | $353.23 |
Estimated Annual Income by Work Schedule in Algonquin
Based on $28.49/hr median hourly rate · 2026 est.
At $28.49/hr, a insurance agent working full-time (40 hr/wk) in Algonquin, IL can expect to earn approximately $59,259 per year (2026 est.). Part-time hygienists working 24 hours per week would earn around $34,188. With a cost-of-living index of 97.10 (below the national average), these earnings stretch further in Algonquin.
Hourly Rate Calculator
Schedule Comparison in Algonquin
| Schedule | Weekly | Monthly | Annual |
|---|---|---|---|
| Full-Time (40 hrs) | $1,139.60 | $4,938 | $59,259 |
| Part-Time (24 hrs) | $683.76 | $2,963 | $35,556 |
| Per Diem (16 hrs) | $455.84 | $1,975 | $23,704 |
Compare Agent Wages With Similar Roles
| Role | Median Hourly |
|---|---|
| Insurance Agent (Algonquin) | $28.49 |
| Real Estate Sales Agent (National Avg) | $32.36 |
| Personal Financial Advisor (National Avg) | $51.62 |
| Insurance Underwriter (National Avg) | $37.70 |
| Claims Adjuster (National Avg) | $35.30 |
Insurance Agents in Algonquin, IL earn a median of $59,251 per year (2026 est.), which is 8.17% lower than the national median of $64,522 and 3.00% below the Illinois state average of $61,083.
Insurance Agent Hourly Pay vs. Cost of Living
Working 24h/week at $28.49/hr = $35,556/year (purchasing power: $36,617).
Working 40h/week (full-time) = $59,259/year (purchasing power: $61,029).
CoL index: 97.1 (100 = national average). Your dollars stretch further here.
2019 BLS Actual
$22.49/hr
2025 BLS Actual
$27.50/hr
2026 Current Est.
$28.49/hr
2019–2027 Growth
+31.2%
Hourly Rate Trajectory for Insurance Agents in Algonquin (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.60% projection.
| Year | Hourly Rate | Status |
|---|---|---|
| 2019 | $22.49/hr | Actual |
| 2020 | $23.04/hr | Actual |
| 2021 | $22.01/hr | Actual |
| 2022 | $25.55/hr | Actual |
| 2023 | $26.09/hr | Actual |
| 2024 | $30.81/hr | Actual |
| 2025 | $27.50/hr | Actual |
| 2026(current) | $28.49/hr | Estimated |
| 2027 | $29.52/hr | Projected |
Based on 7 years of BLS OEWS metropolitan area data, the median hourly rate for insurance agents in Algonquin grew 22.3% from $22.49/hr (2019) to $27.50/hr (2025). At a 3.60% projected growth rate, hourly pay is expected to reach $29.52/hr by 2027. Part-time and per-diem insurance agents can use this multi-year trend to benchmark future contract negotiations.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Algonquin metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 3.60% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Working as an Hourly Insurance Agent in Algonquin
When examining the earning capacity of part-time insurance agents, it becomes evident that a 24-hour workweek can yield around $37,800 annually, which is a considerable figure compared to many entry-level roles. Unlike some professions, per diem insurance agent pay in Algonquin is less common, as most remuneration stems from commission structures tied to policy sales. In contrast, consulting roles for risk managers and expert witnesses can command significantly higher rates, intensifying competition for those positions. The differences in hourly pay across various employers also indicate notable disparities; captive agents often earn less than their counterparts in independent agencies or large firms that focus on commercial lines where compensation scales higher. Some agents may choose roles in firms offering benefits, trading off higher hourly pay for job security and health insurance, reflecting the negotiation dynamics unique to this profession. Aiming for a balance between compensation and benefits is key, especially in Algonquin's evolving insurance market.
More salary data for Algonquin, IL:
Frequently Asked Questions
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Written by Jordan Lee, MBA
Career Analyst
Jordan has over 10 years of experience in the insurance industry. He specializes in property and casualty insurance. He has worked in both agency and corporate settings.
Methodology & Data Source
Hourly wage figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. A 3.60% compound annual growth rate (CAGR), derived from 6-year national BLS wage trends, was applied to estimate current 2026 hourly rates for insurance agents in Algonquin. Part-time and full-time income estimates assume consistent weekly hours and do not account for overtime, benefits, or seasonal variation.
Data Sources & Methodology
Salary data for Algonquin is estimated from official BLS state-level occupational wage data (2025), adjusted for regional cost-of-living differences using BEA RPP (Regional Price Parities).
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 3.60%, derived from historical BLS wage trends for insurance agents (SOC 41-3021).
Compiled and verified by Jordan Lee, MBA, a licensed insurance agent with 10+ years of clinical experience. · View source data at BLS.gov