Average Bill and Account Collectors Salary in Richmond, VA
Bill and Account Collectors in Richmond, VA, earn an average annual salary of $46,830. This figure is slightly below the national average of $48,000, suggesting that local market dynamics and potentially regional demand influence compensation. While the nominal salary is close to the national benchmark, understanding the local economic landscape is key to interpreting this figure.
Executive Summary
- Average Salary: $46,830 per year.
- Growth Trend: Salaries have shifted 3.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $62,190.
- Outlook: Richmond, VA, hosts a dedicated workforce of 920 Bill and Account Collectors. With a Location Quotient of 1.32, the concentration of these roles in Richmond is notably higher than the national average, indicating a robust local demand for these professionals. The presence of 1.408 jobs per 1,000 workers further underscores the active job market for this occupation within the state capital.
Salary Overview
The average Bill and Account Collectors in Richmond, VA earns-2.4%below the national average.
$22.5
$901
$3,903
Bill and Account Collectors Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that salaries for Bill and Account Collectors have seen a steady upward trend over the past four years, mirroring broader economic growth and inflation. This suggests that the current average salary of $46,830 likely represents an increase from previous years, reflecting evolving market conditions and potentially increased responsibilities or skill requirements.
Bill and Account Collectors Salary Distribution in Richmond, VA
The career trajectory for Bill and Account Collectors typically involves significant salary growth 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. These percentile gaps are indicative of the value placed on accumulated expertise and the ability to handle more complex collection scenarios.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $30,510 | $14.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $35,123 | $16.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $47,290 | $22.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $58,538 | $28.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $62,190 | $29.9 |
Detailed Bill and Account Collectors Market Analysis
Relocation Context
Nominal Salary
$46,830
Gross Pay
Real Wage (Purchasing Power)
$46,830
Adjusted for COL (100)
The average annual salary of $46,830 in Richmond, VA, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of a Bill and Account Collector's salary in Richmond is equivalent to the national average, offering stable financial footing without the added pressure of a significantly higher or lower cost of living.
Job Market Context
920
Total Jobs
1.408
Per 1K Jobs
1.32
Location Quotient
With a location quotient of 1.32, Richmond, VA has a slightly higher-than-average concentration of Bill and Account Collectors roles compared to the national norm.
Richmond, VA, presents a concentrated job market for Bill and Account Collectors, as evidenced by its Location Quotient of 1.32. This figure, exceeding the national average of 1.0, signifies that the occupation is more prevalent in Richmond relative to the national distribution of jobs. This suggests a healthy demand and a potentially competitive environment for both employers seeking talent and collectors looking for opportunities.
Nearby Job Markets
Nearby Cities for Bill and Account Collectors
| City | Salary | Dist. |
|---|---|---|
| Southside Virginia nonmetropolitan area Bill and Account Collectors Salary | $40,010↓ 15% | 41 mi |
| Northern West Virginia nonmetropolitan area Bill and Account Collectors Salary | $39,690↓ 15% | 41 mi |
| Southwest Virginia nonmetropolitan area Bill and Account Collectors Salary | $42,930↓ 8% | 41 mi |
| Northwest Virginia nonmetropolitan area Bill and Account Collectors Salary | $48,600↑ 4% | 41 mi |
| Southern West Virginia nonmetropolitan area Bill and Account Collectors Salary | $37,320↓ 20% | 41 mi |
Comparing salaries near Richmond, VA
Hiring Bill and Account Collectorss?
Frequently Asked Questions
How much does a Bill and Account Collectors make in Richmond, VA?
The median annual salary for a Bill and Account Collectors in Richmond, VA is $46,830. This typically ranges from $30,510 for entry-level positions to $62,190 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Richmond, VA is 2.4% lower than the national median of $48,000.
Is Richmond, VA a lucrative place for Bill and Account Collectors?
Yes, with caveats.Richmond, VA, offers a competitive salary for Bill and Account Collectors that aligns with the national average, supported by a strong local job concentration. The stable cost of living further enhances the financial viability of this role in the city.
Is Richmond, VA a good place to live for Bill and Account Collectors?
The Cost of Living Index in Richmond, VA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Richmond, VA?
Some top paying nearby cities include Southside Virginia nonmetropolitan area ($40,010) and Northern West Virginia nonmetropolitan area.
How does Richmond's Bill and Account Collector salary compare to the national average?
The average annual salary for Bill and Account Collectors in Richmond, VA, is $46,830, which is slightly below the national average of $48,000.
What does the Location Quotient of 1.32 mean for Bill and Account Collectors in Richmond?
A Location Quotient of 1.32 indicates that Bill and Account Collector roles are 32% more concentrated in Richmond, VA, than the national average, suggesting higher local demand.
Is the cost of living in Richmond, VA, a factor for Bill and Account Collectors?
With a Cost of Living Index of 100, Richmond's cost of living is exactly at the national average, meaning the $46,830 salary offers standard purchasing power.
How many Bill and Account Collectors are there in Richmond, VA?
Richmond, VA, has a local workforce of approximately 920 Bill and Account Collectors.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 920 employees in the Richmond, VA area with a job density of 1.408 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 Richmond, VA