Average Bill and Account Collectors Salary in New Mexico
Bill and Account Collectors in New Mexico earn an average annual salary of $47,420. This figure is slightly below the national average of $48,000, a common trend influenced by the state's specific economic landscape and cost of living factors. Local market dynamics and demand play a crucial role in shaping compensation for this essential financial role.
Executive Summary
- Average Salary: $47,420 per year.
- Growth Trend: Salaries have shifted 27.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $59,810.
- Outlook: With a total local workforce of 430 Bill and Account Collectors, New Mexico presents a modest but stable job market for this profession. The concentration, indicated by a Location Quotient of 0.47, suggests that while not a national hub, the role is present and supported within the state's economy. The rate of 0.504 jobs per 1,000 workers signifies a consistent, albeit not overwhelming, demand for these services.
Salary Overview
The average Bill and Account Collectors in New Mexico earns-1.2%below the national average.
$22.8
$912
$3,952
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 Mexico have experienced gradual growth over the past four years, mirroring national trends. Economic recovery, inflation, and evolving collection strategies likely contribute to a steady upward trajectory in compensation, ensuring that the profession remains viable and competitive.
Bill and Account Collectors Salary Distribution in New Mexico
Career progression for Bill and Account Collectors in New Mexico typically involves a salary increase with experience. Entry-level positions might start closer to the lower end of the pay scale, while seasoned professionals with specialized skills or supervisory responsibilities can command significantly higher salaries. The percentile gaps in earnings clearly signify the career advancement opportunities available within this field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $35,070 | $16.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $35,565 | $17.1 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $46,270 | $22.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $59,275 | $28.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $59,810 | $28.8 |
Detailed Bill and Account Collectors Market Analysis
Relocation Context
Nominal Salary
$47,420
Gross Pay
Real Wage (Purchasing Power)
$52,924
Adjusted for COL (89.6)
The average annual salary of $47,420 in New Mexico is notably advantageous when considering the local Cost of Living Index of 89.6. This index, being below the national average of 100, means that the purchasing power of a Bill and Account Collector's salary extends further in New Mexico. Consequently, the nominal salary offers a comfortable standard of living relative to the state's economic environment.
Job Market Context
430
Total Jobs
0.504
Per 1K Jobs
0.47
Location Quotient
At 0.47x, New Mexico has a notably lower concentration of Bill and Account Collectors jobs than the national average. Opportunities in this area are relatively scarce for this profession.
A Location Quotient of 0.47 indicates that Bill and Account Collector roles are less concentrated in New Mexico compared to the national average. This suggests that while the job market is not saturated, there may be fewer opportunities relative to the overall workforce size. However, this lower concentration could also imply less competition for available positions, potentially benefiting skilled collectors.
Nearby Job Markets
Nearby Cities for Bill and Account Collectors
| City | Salary | Dist. |
|---|---|---|
| Albuquerque, NM Bill and Account Collectors Salary | $47,690↑ 1% | 29 mi |
Comparing salaries near New Mexico
Hiring Bill and Account Collectorss?
Frequently Asked Questions
How much does a Bill and Account Collectors make in New Mexico?
The median annual salary for a Bill and Account Collectors in New Mexico is $47,420. This typically ranges from $35,070 for entry-level positions to $59,810 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in New Mexico is 1.2% lower than the national median of $48,000.
Is New Mexico a lucrative place for Bill and Account Collectors?
No, but cost of living offers value.While the average salary of $47,420 is slightly below the national average, New Mexico's lower cost of living (89.6) enhances the purchasing power of this income. The market is stable but not highly concentrated, indicating moderate opportunities.
Is New Mexico a good place to live for Bill and Account Collectors?
With a Cost of Living Index of 89.6 (lower than the national average of 100), your salary goes further here.
Where are the highest paying cities near New Mexico?
Some top paying nearby cities include Albuquerque, NM ($47,690) and others.
How does New Mexico's average salary compare to the national average for Bill and Account Collectors?
The average annual salary for Bill and Account Collectors in New Mexico is $47,420, which is slightly lower than the national average of $48,000.
What is the job market like for Bill and Account Collectors in New Mexico?
New Mexico has a total workforce of 430 Bill and Account Collectors, with 0.504 jobs per 1,000 workers, indicating a stable but not highly concentrated job market.
Does the cost of living in New Mexico affect the value of a Bill and Account Collector's salary?
Yes, the Cost of Living Index in New Mexico is 89.6, which is below the national average. This means the $47,420 salary has a higher purchasing power locally than it might in a higher cost-of-living state.
How concentrated is the Bill and Account Collector profession in New Mexico?
The Location Quotient for Bill and Account Collectors in New Mexico is 0.47, meaning the profession is less concentrated than the national average, suggesting fewer specialized opportunities but potentially less competition.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 430 employees in the New Mexico area with a job density of 0.504 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 Mexico