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Average Bookkeeping, Accounting, and Auditing Clerks Salary in Farmington, NM

In Farmington, NM, Bookkeeping, Accounting, and Auditing Clerks earn an average annual salary of $46,530. This figure is notably below the national average of $51,940, reflecting localized economic factors and demand within the region. The specific pay rates in Farmington are influenced by the smaller workforce size and the concentration of these roles relative to the national landscape.

Executive Summary

  • Average Salary: $46,530 per year.
  • Growth Trend: Salaries have shifted 21.5% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $61,880.
  • Outlook: Farmington, NM supports a dedicated workforce of 580 individuals in bookkeeping, accounting, and auditing clerk roles. With 12.64 jobs per 1,000 workers, the presence of these positions is slightly more concentrated than the national average, as indicated by a Location Quotient of 1.34. This suggests a stable, albeit localized, demand for these essential financial administrative functions within the community.
2024 Market Data

Salary Overview

$46,530

The average Bookkeeping, Accounting, and Auditing Clerks in Farmington, NM earns-10.4%below the national average.

BreakdownBased on 40h/week
Hourly

$22.4

Weekly

$895

Monthly

$3,878

Bookkeeping, Accounting, and Auditing Clerks Salary Distribution in Farmington, NM

Career progression for Bookkeeping, Accounting, and Auditing Clerks in Farmington, NM, is typically marked by increasing salary levels with experience. Entry-level positions may start closer to the lower end of the pay scale, while senior clerks with extensive experience and specialized skills can command salaries significantly higher than the average. The percentile gaps in earnings clearly signify opportunities for career advancement and increased earning potential.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$31,870$15.3
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$34,898$16.8
ManagerOversees team, compliance, and project delivery.50% (Median)$44,790$21.5
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$58,163$28
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$61,880$29.8

Detailed Bookkeeping, Accounting, and Auditing Clerks Market Analysis

Relocation Context

Nominal Salary

$46,530

Gross Pay

Real Wage (Purchasing Power)

$46,530

Adjusted for COL (100)

The average annual salary of $46,530 in Farmington, NM, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of the salary is equivalent to the national standard, offering no significant advantage or disadvantage in terms of affordability for residents compared to the rest of the country.

Job Market Context

580

Total Jobs

12.639

Per 1K Jobs

1.34

Location Quotient

Above Average

With a location quotient of 1.34, Farmington, NM has a slightly higher-than-average concentration of Bookkeeping, Accounting, and Auditing Clerks roles compared to the national norm.

Farmington, NM exhibits a Location Quotient of 1.34 for Bookkeeping, Accounting, and Auditing Clerks, indicating a higher concentration of these roles compared to the national average. This suggests that the job market in Farmington is relatively more robust or specialized in this sector, potentially offering more opportunities or a more competitive environment for professionals in these fields.

Nearby Job Markets

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Frequently Asked Questions

How much does a Bookkeeping, Accounting, and Auditing Clerks make in Farmington, NM?

The median annual salary for a Bookkeeping, Accounting, and Auditing Clerks in Farmington, NM is $46,530. This typically ranges from $31,870 for entry-level positions to $61,880 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Farmington, NM is 10.4% lower than the national median of $51,940.

Is Farmington, NM a lucrative place for Bookkeeping, Accounting, and Auditing Clerks?

No, not significantly more lucrative than the national average.While the cost of living is on par with the national average, the average salary for these roles in Farmington is below the national benchmark. The slightly higher concentration of jobs suggests a stable market but not necessarily higher pay.

Is Farmington, NM a good place to live for Bookkeeping, Accounting, and Auditing Clerks?

The Cost of Living Index in Farmington, NM is 100. While higher than average, this often correlates with higher wages.

How does Farmington's average salary compare to the national average?

The average annual salary for Bookkeeping, Accounting, and Auditing Clerks in Farmington, NM is $46,530, which is lower than the national average of $51,940.

What is the Cost of Living in Farmington, NM?

Farmington, NM has a Cost of Living Index of 100, which is exactly the national average, meaning it is neither more nor less expensive to live there compared to the rest of the United States.

How concentrated are bookkeeping and accounting jobs in Farmington?

Farmington has a higher concentration of these roles, with a Location Quotient of 1.34, indicating more jobs per capita than the national average.

What is the total number of accounting clerks in Farmington?

There are approximately 580 individuals employed as Bookkeeping, Accounting, and Auditing Clerks in Farmington, NM.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 580 employees in the Farmington, NM area with a job density of 12.639 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Bookkeeping, Accounting, and Auditing Clerks • Data source: BLS OEWS 2024 •Jobs in Farmington, NM