Average Insurance Claims and Policy Processing Clerks Salary in Albany-Schenectady-Troy, NY
Insurance Claims and Policy Processing Clerks in the Albany-Schenectady-Troy, NY area earn an average annual salary of $54,610, surpassing the national average of $51,940. This localized pay premium is often influenced by regional economic factors and the specific demand within the state's insurance sector.
Executive Summary
- Average Salary: $54,610 per year.
- Growth Trend: Salaries have shifted 11.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $69,710.
- Outlook: With a total local workforce of 730 individuals in this role, the Albany-Schenectady-Troy area demonstrates a stable employment base for Insurance Claims and Policy Processing Clerks. The Location Quotient of 1.11 suggests a slightly higher concentration of these jobs compared to the national average, indicating a steady demand that supports the current workforce.
Salary Overview
The average Insurance Claims and Policy Processing Clerks in Albany-Schenectady-Troy, NY earns+5.1%above the national average.
$26.3
$1,050
$4,551
Insurance Claims and Policy Processing Clerks Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Insurance Claims and Policy Processing Clerks in Albany-Schenectady-Troy have seen consistent growth over the past four years, mirroring national trends of wage increases driven by inflation and evolving job responsibilities within the insurance industry.
Insurance Claims and Policy Processing Clerks Salary Distribution in Albany-Schenectady-Troy, NY
Career progression for Insurance Claims and Policy Processing Clerks typically involves a salary increase with experience. Entry-level positions might start closer to the lower percentiles, while senior clerks with extensive experience and specialized skills can command salaries in the higher percentiles, reflecting a significant earning potential throughout their career.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $45,130 | $21.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $40,958 | $19.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $49,870 | $24 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $68,263 | $32.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $69,710 | $33.5 |
Detailed Insurance Claims and Policy Processing Clerks Market Analysis
Relocation Context
Nominal Salary
$54,610
Gross Pay
Real Wage (Purchasing Power)
$54,610
Adjusted for COL (100)
The average annual salary of $54,610 in Albany-Schenectady-Troy, NY, aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of an Insurance Claims and Policy Processing Clerk's salary in this region is equivalent to the national average, offering a balanced lifestyle without significant financial strain.
Job Market Context
730
Total Jobs
1.645
Per 1K Jobs
1.11
Location Quotient
With a location quotient of 1.11, Albany-Schenectady-Troy, NY has a slightly higher-than-average concentration of Insurance Claims and Policy Processing Clerks roles compared to the national norm.
The Location Quotient of 1.11 for Insurance Claims and Policy Processing Clerks in Albany-Schenectady-Troy, NY, indicates a market that is slightly more concentrated with these professionals than the national average. This suggests a competitive yet accessible job market where employers may actively seek qualified candidates, offering opportunities for those entering or advancing in the field.
Nearby Job Markets
Nearby Cities for Insurance Claims and Policy Processing Clerks
Comparing salaries near Albany-Schenectady-Troy, NY
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Frequently Asked Questions
How much does a Insurance Claims and Policy Processing Clerks make in Albany-Schenectady-Troy, NY?
The median annual salary for a Insurance Claims and Policy Processing Clerks in Albany-Schenectady-Troy, NY is $54,610. This typically ranges from $45,130 for entry-level positions to $69,710 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Albany-Schenectady-Troy, NY is 5.1% higher than the national median of $51,940.
Is Albany-Schenectady-Troy, NY a lucrative place for Insurance Claims and Policy Processing Clerks?
Yes, it offers a competitive salary.The average salary of $54,610 is higher than the national average, and the Cost of Living Index is at the national average, making it a financially sound location.
Is Albany-Schenectady-Troy, NY a good place to live for Insurance Claims and Policy Processing Clerks?
The Cost of Living Index in Albany-Schenectady-Troy, NY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Albany-Schenectady-Troy, NY?
Some top paying nearby cities include Pittsfield, MA ($55,150) and Glens Falls, NY.
How does the Albany-Schenectady-Troy salary compare to the national average?
The average salary for Insurance Claims and Policy Processing Clerks in Albany-Schenectady-Troy, NY is $54,610, which is approximately $2,670 higher than the national average of $51,940.
What is the concentration of Insurance Claims and Policy Processing Clerks in this area?
The Location Quotient of 1.11 indicates that there is a slightly higher concentration of these jobs in Albany-Schenectady-Troy, NY, compared to the national average.
How does the cost of living affect the salary in Albany-Schenectady-Troy, NY?
With a Cost of Living Index of 100, the salary of $54,610 in Albany-Schenectady-Troy, NY, has the same purchasing power as the national average salary across the country.
What is the total number of Insurance Claims and Policy Processing Clerks in the Albany-Schenectady-Troy, NY area?
There are approximately 730 Insurance Claims and Policy Processing Clerks employed in the Albany-Schenectady-Troy, NY metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 730 employees in the Albany-Schenectady-Troy, NY area with a job density of 1.645 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Insurance Claims and Policy Processing Clerks • Data source: BLS OEWS 2024 •Jobs in Albany-Schenectady-Troy, NY