Average Bill and Account Collectors Salary in New Jersey
Bill and Account Collectors in New Jersey earn an average annual salary of $55,470, significantly surpassing the national average of $48,000. This higher compensation is likely influenced by New Jersey's robust economic landscape and potentially higher operational costs for businesses within the state.
Executive Summary
- Average Salary: $55,470 per year.
- Growth Trend: Salaries have shifted 22.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $81,590.
- Outlook: With a local workforce of 3,000 Bill and Account Collectors, New Jersey presents a substantial, albeit not overwhelmingly concentrated, job market for this profession. The Location Quotient of 0.66 suggests that while the profession is present, it is less concentrated than the national average, indicating a stable demand that may not be saturated.
Salary Overview
The average Bill and Account Collectors in New Jersey earns+15.6%above the national average.
$26.7
$1,067
$4,623
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 New Jersey have experienced a steady upward trend over the past four years, mirroring general economic growth and inflation. This suggests a positive trajectory for earning potential within the state.
Bill and Account Collectors Salary Distribution in New Jersey
Career progression for Bill and Account Collectors in New Jersey typically involves moving from entry-level positions to more senior roles, with corresponding salary increases. Experienced collectors often command higher salaries due to their proven ability to manage complex accounts and achieve collection targets, with significant percentile gaps reflecting this advancement.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $39,260 | $18.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $41,603 | $20 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $50,660 | $24.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $69,338 | $33.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $81,590 | $39.2 |
Detailed Bill and Account Collectors Market Analysis
Relocation Context
Nominal Salary
$55,470
Gross Pay
Real Wage (Purchasing Power)
$49,351
Adjusted for COL (112.4)
The nominal average salary of $55,470 in New Jersey needs to be considered within the context of its Cost of Living Index of 112.4. This index is 12.4% higher than the national average, meaning that while the salary is higher than the national average, the purchasing power may be somewhat diminished by the increased cost of goods and services in the state.
Job Market Context
3,000
Total Jobs
0.706
Per 1K Jobs
0.66
Location Quotient
New Jersey has 0.66x 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 0.66 indicates that Bill and Account Collectors are less concentrated in New Jersey compared to the national average. This suggests that the job market, while present, may offer fewer specialized opportunities or a less competitive environment for job seekers relative to other professions or states with higher LQs.
Nearby Job Markets
Nearby Cities for Bill and Account Collectors
| City | Salary | Dist. |
|---|---|---|
| Trenton-Princeton, NJ Bill and Account Collectors Salary | $53,330↓ 4% | 14 mi |
| New York-Newark-Jersey City, NY-NJ Bill and Account Collectors Salary | $57,960↑ 4% | 39 mi |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Bill and Account Collectors Salary | $50,320↓ 9% | 42 mi |
| Allentown-Bethlehem-Easton, PA-NJ Bill and Account Collectors Salary | $47,050↓ 15% | 54 mi |
Comparing salaries near New Jersey
Hiring Bill and Account Collectorss?
Frequently Asked Questions
How much does a Bill and Account Collectors make in New Jersey?
The median annual salary for a Bill and Account Collectors in New Jersey is $55,470. This typically ranges from $39,260 for entry-level positions to $81,590 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in New Jersey is 15.6% higher than the national median of $48,000.
Is New Jersey a lucrative place for Bill and Account Collectorss?
Yes, with caveats.Bill and Account Collectors in New Jersey earn above the national average salary. However, the higher cost of living in the state needs to be factored into the overall financial picture.
Is New Jersey a good place to live for Bill and Account Collectors?
The Cost of Living Index in New Jersey is 112.4. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near New Jersey?
Some top paying nearby cities include Trenton-Princeton, NJ ($53,330) and New York-Newark-Jersey City, NY-NJ.
How does experience impact a Bill and Account Collector's salary in New Jersey?
Experience significantly influences earning potential, with senior collectors typically earning more than entry-level professionals due to their specialized skills and proven track record in account management and debt recovery.
What is the job outlook for Bill and Account Collectors in New Jersey?
The job market appears stable, with a dedicated local workforce and a concentration slightly below the national average, suggesting consistent demand without excessive competition.
How does New Jersey's cost of living affect the value of a Bill and Account Collector's salary?
New Jersey's cost of living is higher than the national average, meaning that the $55,470 salary, while good, may not stretch as far as it would in a lower-cost area.
Are there more Bill and Account Collector jobs in New Jersey compared to the national average?
While the total workforce is substantial, the jobs per 1,000 workers metric (0.706) and the Location Quotient (0.66) suggest that the concentration of these roles is lower than the national average.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 3,000 employees in the New Jersey area with a job density of 0.706 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 New Jersey