Average Bill and Account Collectors Salary in South Central Kentucky nonmetropolitan area
In the South Central Kentucky nonmetropolitan area, Bill and Account Collectors earn an average annual salary of $39,450. This figure is notably below the national average of $48,000, reflecting regional economic factors and a potentially lower cost of doing business. The specific economic landscape of this nonmetropolitan region directly influences compensation levels for this role.
Executive Summary
- Average Salary: $39,450 per year.
- Growth Trend: Salaries have shifted 22.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $50,990.
- Outlook: The Bill and Account Collector job market in South Central Kentucky is characterized by a concentrated presence, as indicated by a Location Quotient of 2.47, significantly higher than the national average. With a local workforce of 450 individuals in this profession, the demand appears robust relative to the national distribution, suggesting a stable employment environment for these specialists.
Salary Overview
The average Bill and Account Collectors in South Central Kentucky nonmetropolitan area earns-17.8%below the national average.
$19
$759
$3,288
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 South Central Kentucky have experienced gradual growth over the past four years, mirroring general economic trends and inflation. This upward trajectory would likely be influenced by evolving collection practices, regulatory changes, and the overall economic health of the region.
Bill and Account Collectors Salary Distribution in South Central Kentucky nonmetropolitan area
Career progression for Bill and Account Collectors typically involves increased responsibility and specialized skills, leading to higher earning potential. Entry-level collectors may start at the lower end of the pay scale, while seasoned professionals with extensive experience in complex debt recovery or specialized financial sectors can command salaries significantly above the average. The widening gap between entry-level and senior positions signifies clear opportunities for career advancement and increased compensation.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $33,270 | $16 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $29,588 | $14.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $34,430 | $16.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $49,313 | $23.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $50,990 | $24.5 |
Detailed Bill and Account Collectors Market Analysis
Relocation Context
Nominal Salary
$39,450
Gross Pay
Real Wage (Purchasing Power)
$39,450
Adjusted for COL (100)
The nominal average annual salary of $39,450 in South Central Kentucky aligns perfectly with the national Cost of Living Index of 100. This means that the purchasing power of a Bill and Account Collector's salary in this region is equivalent to the national average, offering a stable financial standing relative to the cost of essential goods and services.
Job Market Context
450
Total Jobs
2.639
Per 1K Jobs
2.47
Location Quotient
South Central Kentucky nonmetropolitan area has 2.5x the national concentration of Bill and Account Collectors jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
A Location Quotient of 2.47 for Bill and Account Collectors in South Central Kentucky indicates a significant concentration of these roles compared to the national average. This suggests that the job market here is more specialized and potentially more competitive for employers seeking talent, while also offering more opportunities for individuals in this field than in a typical region.
Nearby Job Markets
Nearby Cities for Bill and Account Collectors
| City | Salary | Dist. |
|---|---|---|
| Lexington-Fayette, KY Bill and Account Collectors Salary | $50,000↑ 27% | 28 mi |
| Louisville/Jefferson County, KY-IN Bill and Account Collectors Salary | $52,330↑ 33% | 72 mi |
| Cincinnati, OH-KY-IN Bill and Account Collectors Salary | $48,780↑ 24% | 100 mi |
Comparing salaries near South Central Kentucky nonmetropolitan area
Hiring Bill and Account Collectorss?
Frequently Asked Questions
How much does a Bill and Account Collectors make in South Central Kentucky nonmetropolitan area?
The median annual salary for a Bill and Account Collectors in South Central Kentucky nonmetropolitan area is $39,450. This typically ranges from $33,270 for entry-level positions to $50,990 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in South Central Kentucky nonmetropolitan area is 17.8% lower than the national median of $48,000.
Is South Central Kentucky nonmetropolitan area a lucrative place for Bill and Account Collectors?
No, not compared to the national average.While the cost of living is average, the average salary of $39,450 is substantially lower than the national average of $48,000. The high location quotient suggests concentration, but not necessarily higher pay.
Is South Central Kentucky nonmetropolitan area a good place to live for Bill and Account Collectors?
The Cost of Living Index in South Central Kentucky nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near South Central Kentucky nonmetropolitan area?
Some top paying nearby cities include Lexington-Fayette, KY ($50,000) and Louisville/Jefferson County, KY-IN.
How does the local workforce size affect job prospects?
A local workforce of 450 Bill and Account Collectors suggests a substantial pool of professionals, indicating a well-established industry presence in the region. This can translate to more job openings but also potentially more competition.
What does a Location Quotient of 2.47 mean for Bill and Account Collectors?
A Location Quotient of 2.47 signifies that Bill and Account Collector jobs are more than twice as common in South Central Kentucky compared to the national average. This indicates a higher concentration and potentially greater demand for these specialized roles.
How does the Cost of Living Index impact the salary?
With a Cost of Living Index of 100, the local expenses are on par with the national average. Therefore, the $39,450 salary offers average purchasing power, making the lower nominal wage comparable in real terms to higher wages in more expensive areas.
Are there opportunities for career growth in this role locally?
While the provided data doesn't detail specific growth paths, the significant concentration (LQ 2.47) suggests a robust sector where experience and specialization are likely to be valued, potentially leading to higher-paying senior positions.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 450 employees in the South Central Kentucky nonmetropolitan area area with a job density of 2.639 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 South Central Kentucky nonmetropolitan area