Average Accountants and Auditors Salary in Monroe, MI
Accountants and Auditors in Monroe, MI, earn an average annual salary of $83,200. This figure is notably below the national average of $94,430, suggesting that local market dynamics and economic factors specific to Monroe influence compensation levels. The presence of a smaller, specialized workforce may contribute to this differential.
Executive Summary
- Average Salary: $83,200 per year.
- Growth Trend: Salaries have shifted 26.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $127,610.
- Outlook: With a local workforce of 280 Accountants and Auditors and a Location Quotient of 0.74, Monroe, MI, presents a market with moderate concentration compared to national benchmarks. While not a major hub for this profession, the demand, indicated by 6.907 jobs per 1,000 workers, suggests a stable, albeit not rapidly expanding, job market for accounting professionals.
Salary Overview
The average Accountants and Auditors in Monroe, MI earns-11.9%below the national average.
$40
$1,600
$6,933
Accountants and Auditors Salary Trends (2020-2024)
While specific historical data for Monroe, MI is not provided, it is reasonable to assume that salaries for Accountants and Auditors in the region have experienced gradual growth over the past four years, mirroring national trends. Economic recovery, inflation, and increasing demand for financial expertise typically drive upward salary adjustments in most professional fields.
Accountants and Auditors Salary Distribution in Monroe, MI
Career progression for Accountants and Auditors in Monroe, MI, is typically marked by increasing earning potential. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with specialized skills and extensive experience can command salaries significantly higher, potentially reaching into the upper percentiles of the $83,200 average, reflecting a clear career trajectory.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $44,550 | $21.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $62,400 | $30 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $73,590 | $35.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $104,000 | $50 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $127,610 | $61.4 |
Detailed Accountants and Auditors Market Analysis
Relocation Context
Nominal Salary
$83,200
Gross Pay
Real Wage (Purchasing Power)
$83,200
Adjusted for COL (100)
The nominal average salary of $83,200 in Monroe, MI, is directly comparable to the national average cost of living, which is indexed at 100. This means that the purchasing power of an Accountant's or Auditor's salary in Monroe is effectively aligned with the national average, offering a stable financial standing relative to broader economic conditions.
Job Market Context
280
Total Jobs
6.907
Per 1K Jobs
0.74
Location Quotient
Monroe, MI has 0.74x the national average concentration of Accountants and Auditors jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
A Location Quotient of 0.74 indicates that Accountants and Auditors are less concentrated in Monroe, MI, than the national average. This suggests that while the profession is present, it is not a dominant sector, implying a potentially less competitive but also less robust job market compared to areas with higher concentration.
Nearby Job Markets
Nearby Cities for Accountants and Auditors
| City | Salary | Dist. |
|---|---|---|
| Toledo, OH Accountants and Auditors Salary | $87,970↑ 6% | 20 mi |
| Ann Arbor, MI Accountants and Auditors Salary | $85,680↑ 3% | 31 mi |
| Detroit-Warren-Dearborn, MI Accountants and Auditors Salary | $91,040↑ 9% | 34 mi |
| Sandusky, OH Accountants and Auditors Salary | $75,830↓ 9% | 48 mi |
| Jackson, MI Accountants and Auditors Salary | $78,010↓ 6% | 57 mi |
Comparing salaries near Monroe, MI
Hiring Accountants and Auditorss?
Frequently Asked Questions
How much does a Accountants and Auditors make in Monroe, MI?
The median annual salary for a Accountants and Auditors in Monroe, MI is $83,200. This typically ranges from $44,550 for entry-level positions to $127,610 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Monroe, MI is 11.9% lower than the national median of $94,430.
Is Monroe, MI a lucrative place for Accountants and Auditorss?
No, not exceptionally lucrative compared to national averages.While the average salary of $83,200 is respectable, it falls below the national average of $94,430. However, the cost of living is also at the national average, making the salary's purchasing power comparable.
Is Monroe, MI a good place to live for Accountants and Auditors?
The Cost of Living Index in Monroe, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Monroe, MI?
Some top paying nearby cities include Toledo, OH ($87,970) and Ann Arbor, MI.
How does the local workforce size affect salary?
A smaller local workforce of 280 Accountants and Auditors can sometimes lead to lower average salaries due to less competition among employers for talent, but it can also mean specialized roles are highly valued.
What does a Location Quotient of 0.74 mean for job seekers?
A Location Quotient below 1.0 signifies that the concentration of Accountants and Auditors in Monroe, MI, is lower than the national average, suggesting fewer job opportunities but potentially less intense competition for those roles.
How does the cost of living impact the salary?
With a Cost of Living Index of 100, the $83,200 salary in Monroe, MI, offers purchasing power equivalent to the national average, meaning your earnings will stretch similarly to what they would in a typical US city.
Are there many Accountants and Auditors jobs in Monroe, MI?
There are 6.907 jobs per 1,000 workers in Monroe, MI, for Accountants and Auditors, indicating a moderate presence of these roles within the local economy.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 280 employees in the Monroe, MI area with a job density of 6.907 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Accountants and Auditors • Data source: BLS OEWS 2024 •Jobs in Monroe, MI