Average Bill and Account Collectors Salary in Minneapolis-St. Paul-Bloomington, MN-WI
Bill and Account Collectors in the Minneapolis-St. Paul-Bloomington, MN-WI area earn an average annual salary of $51,930, surpassing the national average of $48,000. This elevated compensation is often driven by the specific economic landscape and demand within the region, reflecting a localized premium for these essential financial roles.
Executive Summary
- Average Salary: $51,930 per year.
- Growth Trend: Salaries have shifted 20.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $75,100.
- Outlook: With a local workforce of 2,920 Bill and Account Collectors, the Minneapolis-St. Paul-Bloomington area demonstrates a significant presence in this sector. The Location Quotient of 1.41 indicates a concentration of these roles that is 41% higher than the national average, suggesting a robust and potentially growing demand for skilled professionals in this field within the region.
Salary Overview
The average Bill and Account Collectors in Minneapolis-St. Paul-Bloomington, MN-WI earns+8.2%above the national average.
$25
$999
$4,328
Bill and Account Collectors Salary Trends (2020-2024)
While specific historical data for this role in Minneapolis is not provided, it is reasonable to assume that salaries for Bill and Account Collectors have seen a steady upward trend over the past four years, mirroring general economic growth and inflation. This suggests that the current average salary likely reflects an increase from previous years, indicating a positive trajectory for compensation in this profession locally.
Bill and Account Collectors Salary Distribution in Minneapolis-St. Paul-Bloomington, MN-WI
The salary progression for Bill and Account Collectors typically scales with experience. Entry-level positions may start closer to the lower end of the pay scale, while seasoned professionals with extensive experience and a proven track record can command significantly higher salaries. The percentile gaps in earnings clearly signify career progression opportunities, rewarding increased expertise and responsibility within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $38,130 | $18.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $38,948 | $18.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $47,880 | $23 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $64,913 | $31.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $75,100 | $36.1 |
Detailed Bill and Account Collectors Market Analysis
Relocation Context
Nominal Salary
$51,930
Gross Pay
Real Wage (Purchasing Power)
$51,930
Adjusted for COL (100)
The average annual salary of $51,930 in Minneapolis-St. Paul-Bloomington aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of a Bill and Account Collector's salary in this metropolitan area is equivalent to the national standard, offering a stable financial foundation without the added pressure of a higher cost of living.
Job Market Context
2,920
Total Jobs
1.51
Per 1K Jobs
1.41
Location Quotient
With a location quotient of 1.41, Minneapolis-St. Paul-Bloomington, MN-WI has a slightly higher-than-average concentration of Bill and Account Collectors roles compared to the national norm.
A Location Quotient of 1.41 signifies that Bill and Account Collectors are more concentrated in the Minneapolis-St. Paul-Bloomington area than the national average. This suggests a healthy job market where demand may outpace supply, potentially leading to competitive hiring practices and opportunities for skilled individuals. The presence of 1.51 jobs per 1,000 workers further reinforces this indication of active recruitment.
Nearby Job Markets
Nearby Cities for Bill and Account Collectors
| City | Salary | Dist. |
|---|---|---|
| Northwest Minnesota nonmetropolitan area Bill and Account Collectors Salary | $63,450↑ 22% | 58 mi |
| Southeast Minnesota nonmetropolitan area Bill and Account Collectors Salary | $58,480↑ 13% | 58 mi |
| Southwest Minnesota nonmetropolitan area Bill and Account Collectors Salary | $54,790↑ 6% | 58 mi |
| St. Cloud, MN Bill and Account Collectors Salary | $42,870↓ 17% | 59 mi |
Comparing salaries near Minneapolis-St. Paul-Bloomington, MN-WI
Hiring Bill and Account Collectorss?
Frequently Asked Questions
How much does a Bill and Account Collectors make in Minneapolis-St. Paul-Bloomington, MN-WI?
The median annual salary for a Bill and Account Collectors in Minneapolis-St. Paul-Bloomington, MN-WI is $51,930. This typically ranges from $38,130 for entry-level positions to $75,100 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Minneapolis-St. Paul-Bloomington, MN-WI is 8.2% higher than the national median of $48,000.
Is Minneapolis-St. Paul-Bloomington, MN-WI a lucrative place for Bill and Account Collectors?
Yes, it is a lucrative place for Bill and Account Collectors.The average salary of $51,930 is higher than the national average, and the cost of living is on par with the national average, indicating strong earning potential.
Is Minneapolis-St. Paul-Bloomington, MN-WI a good place to live for Bill and Account Collectors?
The Cost of Living Index in Minneapolis-St. Paul-Bloomington, MN-WI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Minneapolis-St. Paul-Bloomington, MN-WI?
Some top paying nearby cities include Northwest Minnesota nonmetropolitan area ($63,450) and Southeast Minnesota nonmetropolitan area.
How does the Minneapolis salary compare to the national average?
Bill and Account Collectors in Minneapolis earn an average of $51,930 annually, which is $3,930 more than the national average of $48,000.
What is the concentration of Bill and Account Collectors in Minneapolis?
The Minneapolis-St. Paul-Bloomington area has a Location Quotient of 1.41, meaning there is a 41% higher concentration of Bill and Account Collectors compared to the national average.
Does the cost of living affect the salary in Minneapolis?
No, the cost of living in Minneapolis is at the national average (100), so the higher salary directly translates to greater purchasing power for Bill and Account Collectors.
How many Bill and Account Collectors work in the Minneapolis area?
There are approximately 2,920 Bill and Account Collectors employed in the Minneapolis-St. Paul-Bloomington metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 2,920 employees in the Minneapolis-St. Paul-Bloomington, MN-WI area with a job density of 1.51 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 Minneapolis-St. Paul-Bloomington, MN-WI