Average Bill and Account Collectors Salary in Maryland
Bill and Account Collectors in Maryland earn an average annual salary of $51,580, surpassing the national average of $48,000. This higher compensation is often a reflection of Maryland's robust economy and potentially higher operational costs for businesses, necessitating competitive pay to attract and retain skilled professionals in this vital financial role.
Executive Summary
- Average Salary: $51,580 per year.
- Growth Trend: Salaries have shifted 13.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $63,910.
- Outlook: With a local workforce of 2,910 Bill and Account Collectors, Maryland demonstrates a stable employment base for this profession. The Location Quotient of 0.99 indicates that the concentration of these roles in Maryland is nearly on par with the national average, suggesting a consistent and steady demand for their services within the state's economic landscape.
Salary Overview
The average Bill and Account Collectors in Maryland earns+7.5%above the national average.
$24.8
$992
$4,298
Bill and Account Collectors Salary Trends (2020-2024)
While specific historical data for Bill and Account Collectors in Maryland is not provided, it is reasonable to assume a general upward trend in salaries over the past four years, mirroring national economic patterns. Factors such as inflation, evolving collection technologies, and increased regulatory compliance likely contribute to salary growth, ensuring that compensation keeps pace with industry demands.
Bill and Account Collectors Salary Distribution in Maryland
The career trajectory for Bill and Account Collectors typically involves significant salary growth with experience. Entry-level positions may start at a lower percentile, but seasoned professionals with proven track records in negotiation, compliance, and debt recovery can command salaries in the higher percentiles. This progression highlights the value placed on expertise and effectiveness in managing accounts receivable.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $38,790 | $18.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $38,685 | $18.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $50,050 | $24.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $64,475 | $31 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $63,910 | $30.7 |
Detailed Bill and Account Collectors Market Analysis
Relocation Context
Nominal Salary
$51,580
Gross Pay
Real Wage (Purchasing Power)
$41,231
Adjusted for COL (125.1)
While the average annual salary of $51,580 appears favorable, Maryland's Cost of Living Index of 125.1 (100 being the national average) suggests that this income may not stretch as far as it would in a lower-cost state. Potential residents should consider that a significant portion of their earnings will be allocated to higher expenses for housing, goods, and services.
Job Market Context
2,910
Total Jobs
1.061
Per 1K Jobs
0.99
Location Quotient
Maryland has 0.99x the national average concentration of Bill and Account Collectors 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 0.99 for Bill and Account Collectors in Maryland signifies that the employment concentration for this role is very close to the national average. This suggests a balanced job market where the number of available positions aligns reasonably well with the number of professionals in the field, indicating neither an oversupply nor a significant shortage of talent.
Nearby Job Markets
Nearby Cities for Bill and Account Collectors
| City | Salary | Dist. |
|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV Bill and Account Collectors Salary | $57,910↑ 12% | 17 mi |
| Baltimore-Columbia-Towson, MD Bill and Account Collectors Salary | $50,740↓ 2% | 19 mi |
| Lexington Park, MD Bill and Account Collectors Salary | $53,310↑ 3% | 59 mi |
| York-Hanover, PA Bill and Account Collectors Salary | $48,820↓ 5% | 62 mi |
Comparing salaries near Maryland
Hiring Bill and Account Collectorss?
Frequently Asked Questions
How much does a Bill and Account Collectors make in Maryland?
The median annual salary for a Bill and Account Collectors in Maryland is $51,580. This typically ranges from $38,790 for entry-level positions to $63,910 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Maryland is 7.5% higher than the national median of $48,000.
Is Maryland a lucrative place for Bill and Account Collectors?
Yes, with caveats.Maryland offers a higher average salary than the national average for Bill and Account Collectors. However, the significantly higher cost of living means that the purchasing power of this salary is moderated.
Is Maryland a good place to live for Bill and Account Collectors?
The Cost of Living Index in Maryland is 125.1. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Maryland?
Some top paying nearby cities include Washington-Arlington-Alexandria, DC-VA-MD-WV ($57,910) and Baltimore-Columbia-Towson, MD.
How does the number of Bill and Account Collectors in Maryland compare nationally?
Maryland has a total workforce of 2,910 Bill and Account Collectors, which, relative to the national average concentration (Location Quotient of 0.99), indicates a presence that is very close to the national proportion.
What is the significance of the Jobs per 1,000 Workers metric for Bill and Account Collectors in Maryland?
The metric of 1.061 jobs per 1,000 workers suggests that for every thousand individuals employed in Maryland, slightly more than one is a Bill and Account Collector, providing a localized view of job availability.
How does the Cost of Living in Maryland affect the perceived value of a Bill and Account Collector's salary?
With a Cost of Living Index of 125.1, Maryland is considerably more expensive than the national average. This means the $51,580 salary provides less disposable income than it might in a state with a lower cost of living.
What does a Location Quotient of 0.99 mean for Bill and Account Collector jobs in Maryland?
A Location Quotient of 0.99 indicates that Maryland has a job concentration for Bill and Account Collectors that is virtually identical to the national average, suggesting a stable and typical market for these roles.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 2,910 employees in the Maryland area with a job density of 1.061 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
Explore Bill and Account Collectors Salaries by State
Top Jobs in Maryland
- All Occupations Salary in Maryland
- Office and Administrative Support Occupations Salary in Maryland
- Management Occupations Salary in Maryland
- Business and Financial Operations Occupations Salary in Maryland
- Sales and Related Occupations Salary in Maryland
- Transportation and Material Moving Occupations Salary in Maryland
- Food Preparation and Serving Related Occupations Salary in Maryland
- Educational Instruction and Library Occupations Salary in Maryland
- Healthcare Practitioners and Technical Occupations Salary in Maryland
- Computer and Mathematical Occupations Salary in Maryland
- Browse All Jobs in Maryland →
Semantic Salary Analysis for Bill and Account Collectors • Data source: BLS OEWS 2024 •Jobs in Maryland