Average Bill and Account Collectors Salary in Massachusetts
Bill and Account Collectors in Massachusetts earn an impressive average annual salary of $57,440, significantly outpacing the national average of $48,000. This higher compensation is likely driven by a combination of factors, including the state's robust economy and potentially higher demand for skilled financial professionals.
Executive Summary
- Average Salary: $57,440 per year.
- Growth Trend: Salaries have shifted 15.2% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $77,450.
- Outlook: With a local workforce of 2,360 Bill and Account Collectors, Massachusetts presents a moderately sized employment landscape for this profession. The Location Quotient of 0.61 suggests that while the concentration of these roles is slightly below the national average, the absolute number indicates a stable presence and ongoing need for these services within the state's economic framework.
Salary Overview
The average Bill and Account Collectors in Massachusetts earns+19.7%above the national average.
$27.6
$1,105
$4,787
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 Massachusetts have experienced growth over the past four years, mirroring general economic trends and inflation. Increased demand for financial services and evolving collection strategies likely contribute to a positive salary trajectory for professionals in this field.
Bill and Account Collectors Salary Distribution in Massachusetts
Career progression for Bill and Account Collectors typically involves a salary increase with experience. Entry-level positions may start at a lower percentile, while seasoned professionals with proven track records in debt recovery and client management can command salaries in the higher percentiles, reflecting their accumulated expertise and value to employers.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $43,230 | $20.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $43,080 | $20.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $53,160 | $25.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $71,800 | $34.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $77,450 | $37.2 |
Detailed Bill and Account Collectors Market Analysis
Relocation Context
Nominal Salary
$57,440
Gross Pay
Real Wage (Purchasing Power)
$38,706
Adjusted for COL (148.4)
The average annual salary of $57,440 in Massachusetts must be considered within the context of its high Cost of Living Index of 148.4. While the nominal salary is substantially higher than the national average, the increased cost of goods and services means that the purchasing power of this salary may be closer to, or even slightly less than, what a similar salary would provide in a lower cost-of-living area.
Job Market Context
2,360
Total Jobs
0.648
Per 1K Jobs
0.61
Location Quotient
Massachusetts has 0.61x 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 0.61 indicates that Bill and Account Collectors are less concentrated in Massachusetts compared to the national average. This suggests that while the profession is present, the job market may not be saturated, potentially offering good opportunities for skilled individuals, but also implying that employers might need to actively recruit to fill positions.
Nearby Job Markets
Nearby Cities for Bill and Account Collectors
| City | Salary | Dist. |
|---|---|---|
| Worcester, MA Bill and Account Collectors Salary | $53,760↓ 6% | 14 mi |
| Boston-Cambridge-Newton, MA-NH Bill and Account Collectors Salary | $56,330↓ 2% | 24 mi |
| Providence-Warwick, RI-MA Bill and Account Collectors Salary | $56,710↓ 1% | 29 mi |
| Springfield, MA Bill and Account Collectors Salary | $52,370↓ 9% | 52 mi |
Comparing salaries near Massachusetts
Hiring Bill and Account Collectorss?
Frequently Asked Questions
How much does a Bill and Account Collectors make in Massachusetts?
The median annual salary for a Bill and Account Collectors in Massachusetts is $57,440. This typically ranges from $43,230 for entry-level positions to $77,450 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Massachusetts is 19.7% higher than the national median of $48,000.
Is Massachusetts a lucrative place for Bill and Account Collectors?
Yes, but with caveats.The average salary of $57,440 is significantly higher than the national average, indicating lucrative potential. However, the high cost of living means that the real value of this salary should be carefully assessed.
Is Massachusetts a good place to live for Bill and Account Collectors?
The Cost of Living Index in Massachusetts is 148.4. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Massachusetts?
Some top paying nearby cities include Worcester, MA ($53,760) and Boston-Cambridge-Newton, MA-NH.
How does the Massachusetts salary compare to the national average?
Bill and Account Collectors in Massachusetts earn an average of $57,440 annually, which is $9,440 more than the national average of $48,000.
What is the concentration of Bill and Account Collectors in Massachusetts?
The concentration, measured by the Location Quotient, is 0.61, meaning there are fewer Bill and Account Collectors per capita in Massachusetts compared to the national average.
How does the cost of living affect the salary in Massachusetts?
Massachusetts has a Cost of Living Index of 148.4, significantly higher than the national average of 100. This means that the higher salary is offset by increased expenses for daily living.
What is the total number of Bill and Account Collectors in Massachusetts?
There are approximately 2,360 Bill and Account Collectors employed in Massachusetts.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 2,360 employees in the Massachusetts area with a job density of 0.648 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 Massachusetts