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Average Bill and Account Collectors Salary in Minnesota

Bill and Account Collectors in Minnesota earn an average annual salary of $52,370, surpassing the national average of $48,000. This higher compensation is often driven by a combination of regional economic factors and a localized demand for these essential financial services roles within the state.

Executive Summary

  • Average Salary: $52,370 per year.
  • Growth Trend: Salaries have shifted 21.5% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $75,100.
  • Outlook: With a substantial local workforce of 3,800 Bill and Account Collectors, Minnesota demonstrates a significant presence in this sector. The Location Quotient of 1.22 indicates that this profession is more concentrated in Minnesota than the national average, suggesting a robust and potentially growing job market for these professionals.
2024 Market Data

Salary Overview

$52,370

The average Bill and Account Collectors in Minnesota earns+9.1%above the national average.

BreakdownBased on 40h/week
Hourly

$25.2

Weekly

$1,007

Monthly

$4,364

Bill and Account Collectors Salary Distribution in Minnesota

Career progression for Bill and Account Collectors in Minnesota typically involves scaling salary ranges from entry-level positions to senior roles. As professionals gain experience, develop specialized skills, and take on more complex accounts, their earning potential increases significantly, with higher percentile gaps reflecting substantial career advancement.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$37,830$18.2
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$39,278$18.9
ManagerOversees team, compliance, and project delivery.50% (Median)$48,160$23.2
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$65,463$31.5
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

$52,370

Gross Pay

Real Wage (Purchasing Power)

$55,477

Adjusted for COL (94.4)

The average annual salary of $52,370 in Minnesota offers strong purchasing power, especially when considered against the state's Cost of Living Index of 94.4. This index is below the national average of 100, meaning that the nominal salary earned by Bill and Account Collectors in Minnesota can translate into a higher real income and a better quality of life compared to many other states.

Job Market Context

3,800

Total Jobs

1.302

Per 1K Jobs

1.22

Location Quotient

Above Average

With a location quotient of 1.22, Minnesota has a slightly higher-than-average concentration of Bill and Account Collectors roles compared to the national norm.

A Location Quotient of 1.22 signifies that Bill and Account Collectors are 22% more concentrated in Minnesota than the national average. This suggests a competitive yet abundant job market, where employers may actively seek talent, and professionals have a good number of opportunities available within the state.

Nearby Job Markets

Nearby Cities for Bill and Account Collectors

CitySalaryDist.
St. Cloud, MN Bill and Account Collectors Salary$42,870↓ 18%17 mi
Minneapolis-St. Paul-Bloomington, MN-WI Bill and Account Collectors Salary$51,930↓ 1%58 mi

Comparing salaries near Minnesota

Hiring Bill and Account Collectorss?

Frequently Asked Questions

How much does a Bill and Account Collectors make in Minnesota?

The median annual salary for a Bill and Account Collectors in Minnesota is $52,370. This typically ranges from $37,830 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 Minnesota is 9.1% higher than the national median of $48,000.

Is Minnesota a lucrative place for Bill and Account Collectorss?

Yes, Minnesota offers a lucrative environment for Bill and Account Collectors.The average salary exceeds the national average, and the cost of living is below the national average, enhancing overall financial well-being.

Is Minnesota a good place to live for Bill and Account Collectors?

With a Cost of Living Index of 94.4 (lower than the national average of 100), your salary goes further here.

Where are the highest paying cities near Minnesota?

Some top paying nearby cities include St. Cloud, MN ($42,870) and Minneapolis-St. Paul-Bloomington, MN-WI.

How does Minnesota's salary for Bill and Account Collectors compare to the national average?

Bill and Account Collectors in Minnesota earn approximately $4,370 more annually than the national average, with a median salary of $52,370 compared to $48,000.

What is the concentration of Bill and Account Collectors in Minnesota?

Minnesota has a higher concentration of Bill and Account Collectors than the national average, indicated by a Location Quotient of 1.22.

How does the cost of living in Minnesota affect the salary?

With a Cost of Living Index of 94.4, Minnesota's lower cost of living means that the average salary of $52,370 provides greater purchasing power than it would in a higher cost-of-living state.

What does the number of jobs per 1,000 workers indicate?

The figure of 1.302 jobs per 1,000 workers suggests a steady demand for Bill and Account Collectors within Minnesota's broader employment landscape.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 3,800 employees in the Minnesota area with a job density of 1.302 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Bill and Account Collectors • Data source: BLS OEWS 2024 •Jobs in Minnesota