Insurance Agent Salary in Memphis, TN: $49,760 (2026)

Insurance Agent Pay in Memphis: What to Expect (2026)

Memphis offers a median insurance agent salary of $49,760, which is $1,735 below the Tennessee state average of $51,495. Compared to the national median of $57,860, Memphis pays below the national benchmark for this role.

One of Memphis's biggest advantages is its low cost of living at 86% of the national average. This means the $49,760 salary stretches further here — equivalent to roughly $57,860 in an average-cost city. This makes Memphis an attractive option for insurance agents seeking strong real-dollar compensation.

The salary range for insurance agents in Memphis spans from $25,800 at the 10th percentile to $101,480 at the 90th percentile — a $75,680 spread. Entry-level professionals start around $27,520, while senior insurance agents with 8+ years of experience can earn up to $94,600. As a major metro area with a population of 633,104, Memphis typically offers more job opportunities and employer competition, which can drive salaries higher.

Insurance Agent Salary in Memphis by Experience

In Memphis, an entry-level insurance agent earns around $27,520, while experienced professionals earn up to $94,600 per year. The local cost of living index is 86% of the national average.

Entry Level (0-2 yrs)

$27,520

$-4,480 vs national

Mid Level (3-7 yrs)

$51,600

$-8,400 vs national

Senior Level (8+ yrs)

$94,600

$-15,400 vs national

Percentile	Memphis	TN State	National
10th Percentile	$25,800	$26,700	$30,000
25th Percentile	$34,400	$35,600	$40,000
Median (50th)	$49,760	$51,495	$57,860
75th Percentile	$70,520	$72,980	$82,000
90th Percentile	$101,480	$105,020	$118,000

Percentile

Memphis

10th Percentile

$25,800

25th Percentile

$34,400

Median (50th)

$49,760

75th Percentile

$70,520

90th Percentile

$101,480

How to Become a Insurance Agent in Memphis

Education

Most insurance agent positions require a high school diploma. Memphis and the surrounding Tennessee area have institutions offering relevant programs.

Key Skills

SalesInsurance ProductsClient RelationsRisk AssessmentCommunicationCRM

Job Outlook

Nationally, insurance agent employment is projected to grow 6% over the next decade (faster than average). Demand in Memphis may vary based on local industry and population growth.

Frequently Asked Questions: Insurance Agent Salary in Memphis

How much does a Insurance Agent make in Memphis, TN? ▼

The median insurance agent salary in Memphis, Tennessee is $49,760 per year, which is 14% below the national median of $57,860. Salaries range from $25,800 (10th percentile) to $101,480 (90th percentile).

How much does a Insurance Agent make per hour in Memphis? ▼

Based on the median annual salary of $49,760, a insurance agent in Memphis earns approximately $24 per hour assuming a standard 2,080-hour work year.

How does Memphis compare to the Tennessee state average for insurance agent pay? ▼

Memphis's median insurance agent salary of $49,760 is 3.4% below the Tennessee state average of $51,495. The local cost of living index is 86% of the national average.

What is the cost of living in Memphis, TN? ▼

Memphis has a cost of living index of 86% compared to the national average. This means a insurance agent salary of $49,760 in Memphis has more purchasing power than the same salary in an average-cost city.

What qualifications do I need to become a insurance agent in Memphis? ▼

Most insurance agent positions in Memphis require a high school diploma. Key skills include Sales, Insurance Products, Client Relations, Risk Assessment. The job market is projected to grow 6% nationally over the next decade.

Insurance Agent Salary in Memphis, Tennessee