Average Bill and Account Collectors Salary in Lexington-Fayette, KY
Bill and Account Collectors in Lexington-Fayette, KY, command an impressive average annual salary of $50,000, surpassing the national average of $48,000. This elevated compensation is often a reflection of the specific economic drivers and demand within the Lexington-Fayette region for these essential financial services roles.
Executive Summary
- Average Salary: $50,000 per year.
- Growth Trend: Salaries have shifted 16.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $74,510.
- Outlook: With a local workforce of 410 Bill and Account Collectors and a Location Quotient of 1.35, Lexington-Fayette demonstrates a notable concentration of these professionals compared to the national landscape. This suggests a robust and potentially growing demand for their services within the area, indicating a healthy job market for individuals in this field.
Salary Overview
The average Bill and Account Collectors in Lexington-Fayette, KY earns+4.2%above the national average.
$24
$962
$4,167
Bill and Account Collectors Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Bill and Account Collectors in Lexington-Fayette have experienced steady growth over the past four years, mirroring national trends. Economic shifts and evolving collection strategies likely contribute to an upward trajectory in compensation for skilled professionals in this sector.
Bill and Account Collectors Salary Distribution in Lexington-Fayette, KY
Career progression for Bill and Account Collectors in Lexington-Fayette, KY, typically involves a significant salary increase from entry-level to senior positions. The gap between the lower and upper salary percentiles signifies substantial earning potential as professionals gain experience, develop specialized skills, and take on more complex accounts.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $36,150 | $17.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $37,500 | $18 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $48,340 | $23.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $62,500 | $30 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $74,510 | $35.8 |
Detailed Bill and Account Collectors Market Analysis
Relocation Context
Nominal Salary
$50,000
Gross Pay
Real Wage (Purchasing Power)
$50,000
Adjusted for COL (100)
The average annual salary of $50,000 in Lexington-Fayette, KY, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of a Bill and Account Collector's salary in this region is equivalent to the national standard, offering a stable financial footing without the added pressure of a higher cost of living.
Job Market Context
410
Total Jobs
1.441
Per 1K Jobs
1.35
Location Quotient
With a location quotient of 1.35, Lexington-Fayette, KY has a slightly higher-than-average concentration of Bill and Account Collectors roles compared to the national norm.
A Location Quotient of 1.35 indicates that Bill and Account Collectors are more concentrated in Lexington-Fayette, KY, than the national average. This suggests a specialized market where demand may outpace supply, potentially leading to competitive hiring practices and favorable compensation for qualified candidates.
Nearby Job Markets
Nearby Cities for Bill and Account Collectors
| City | Salary | Dist. |
|---|---|---|
| Central Kentucky nonmetropolitan area Bill and Account Collectors Salary | $43,720↓ 13% | 28 mi |
| South Central Kentucky nonmetropolitan area Bill and Account Collectors Salary | $39,450↓ 21% | 28 mi |
| East Kentucky nonmetropolitan area Bill and Account Collectors Salary | $40,790↓ 18% | 28 mi |
| Louisville/Jefferson County, KY-IN Bill and Account Collectors Salary | $52,330↑ 5% | 72 mi |
Comparing salaries near Lexington-Fayette, KY
Hiring Bill and Account Collectorss?
Frequently Asked Questions
How much does a Bill and Account Collectors make in Lexington-Fayette, KY?
The median annual salary for a Bill and Account Collectors in Lexington-Fayette, KY is $50,000. This typically ranges from $36,150 for entry-level positions to $74,510 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Lexington-Fayette, KY is 4.2% higher than the national median of $48,000.
Is Lexington-Fayette, KY a lucrative place for Bill and Account Collectors?
Yes, it is a lucrative place for Bill and Account Collectors.Bill and Account Collectors in Lexington-Fayette earn $50,000 annually, which is above the national average. Coupled with a cost of living at the national average, this makes the location financially advantageous.
Is Lexington-Fayette, KY a good place to live for Bill and Account Collectors?
The Cost of Living Index in Lexington-Fayette, KY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Lexington-Fayette, KY?
Some top paying nearby cities include Central Kentucky nonmetropolitan area ($43,720) and South Central Kentucky nonmetropolitan area.
How does the local workforce size impact Bill and Account Collector jobs in Lexington-Fayette?
The local workforce of 410 Bill and Account Collectors suggests a significant presence of this profession, indicating a stable demand for their services within the Lexington-Fayette economy.
What does a Location Quotient of 1.35 mean for Bill and Account Collectors in Lexington-Fayette?
A Location Quotient of 1.35 signifies that this profession is 35% more concentrated in Lexington-Fayette than the national average, implying a potentially stronger job market and higher demand.
How does the Cost of Living in Lexington-Fayette compare to the national average?
Lexington-Fayette's Cost of Living Index is 100, which is exactly the national average, meaning your salary's purchasing power is consistent with national standards.
Are Bill and Account Collector salaries in Lexington-Fayette higher than the national average?
Yes, the average annual salary for Bill and Account Collectors in Lexington-Fayette is $50,000, which is $2,000 higher than the national average of $48,000.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 410 employees in the Lexington-Fayette, KY area with a job density of 1.441 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Bill and Account Collectors • Data source: BLS OEWS 2024 •Jobs in Lexington-Fayette, KY