Average Insurance Claims and Policy Processing Clerks Salary in Knoxville, TN
In Knoxville, TN, Insurance Claims and Policy Processing Clerks earn an average annual salary of $43,560. This figure is notably below the national average of $51,940, indicating that local market dynamics and potentially a lower cost of living influence compensation for these roles. The specific economic landscape of Knoxville shapes the earning potential for this profession.
Executive Summary
- Average Salary: $43,560 per year.
- Growth Trend: Salaries have shifted 23.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $51,960.
- Outlook: With a local workforce of 760 individuals in this role, Knoxville demonstrates a moderate concentration of Insurance Claims and Policy Processing Clerks, as evidenced by a Location Quotient of 1.22. This suggests a slightly higher prevalence of these positions compared to the national average, implying a stable, albeit not rapidly expanding, demand for these skilled professionals within the region.
Salary Overview
The average Insurance Claims and Policy Processing Clerks in Knoxville, TN earns-16.1%below the national average.
$20.9
$838
$3,630
Insurance Claims and Policy Processing Clerks Salary Trends (2020-2024)
While specific historical data for Knoxville is not provided, it is generally assumed that salaries for Insurance Claims and Policy Processing Clerks have seen incremental growth over the past four years, mirroring national trends. Factors such as inflation, increased demand for insurance services, and evolving industry standards likely contribute to a gradual upward trajectory in compensation for these roles.
Insurance Claims and Policy Processing Clerks Salary Distribution in Knoxville, TN
Career progression for Insurance Claims and Policy Processing Clerks in Knoxville typically involves a salary increase with experience. Entry-level positions may start at the lower end of the pay scale, while senior clerks with extensive experience and specialized knowledge can command higher salaries, reflecting the significant percentile gaps observed between junior and seasoned professionals in the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $29,880 | $14.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $32,670 | $15.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $43,230 | $20.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $54,450 | $26.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $51,960 | $25 |
Detailed Insurance Claims and Policy Processing Clerks Market Analysis
Relocation Context
Nominal Salary
$43,560
Gross Pay
Real Wage (Purchasing Power)
$43,560
Adjusted for COL (100)
The average annual salary of $43,560 in Knoxville, TN, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of an Insurance Claims and Policy Processing Clerk's salary in Knoxville is equivalent to the national average, offering a stable financial standing relative to the cost of goods and services.
Job Market Context
760
Total Jobs
1.814
Per 1K Jobs
1.22
Location Quotient
With a location quotient of 1.22, Knoxville, TN has a slightly higher-than-average concentration of Insurance Claims and Policy Processing Clerks roles compared to the national norm.
Knoxville's Location Quotient of 1.22 for Insurance Claims and Policy Processing Clerks indicates a job market where these roles are slightly more concentrated than the national average. This suggests a healthy demand and a potentially competitive environment for skilled individuals, as the number of available positions is proportionally higher within the local workforce.
Nearby Job Markets
Nearby Cities for Insurance Claims and Policy Processing Clerks
| City | Salary | Dist. |
|---|---|---|
| Cleveland, TN Insurance Claims and Policy Processing Clerks Salary | $39,060↓ 10% | 75 mi |
| Asheville, NC Insurance Claims and Policy Processing Clerks Salary | $49,100↑ 13% | 83 mi |
| Kingsport-Bristol, TN-VA Insurance Claims and Policy Processing Clerks Salary | $45,940↑ 5% | 87 mi |
| Johnson City, TN Insurance Claims and Policy Processing Clerks Salary | $37,760↓ 13% | 91 mi |
Comparing salaries near Knoxville, TN
Hiring Insurance Claims and Policy Processing Clerkss?
Frequently Asked Questions
How much does a Insurance Claims and Policy Processing Clerks make in Knoxville, TN?
The median annual salary for a Insurance Claims and Policy Processing Clerks in Knoxville, TN is $43,560. This typically ranges from $29,880 for entry-level positions to $51,960 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Knoxville, TN is 16.1% lower than the national median of $51,940.
Is Knoxville, TN a lucrative place for Insurance Claims and Policy Processing Clerks?
No, not more lucrative than the national average.While the cost of living is on par with the national average, the average salary of $43,560 is significantly lower than the national average of $51,940, making it less lucrative in nominal terms.
Is Knoxville, TN a good place to live for Insurance Claims and Policy Processing Clerks?
The Cost of Living Index in Knoxville, TN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Knoxville, TN?
Some top paying nearby cities include Cleveland, TN ($39,060) and Asheville, NC.
How does the Knoxville salary compare to the national average?
The average salary for Insurance Claims and Policy Processing Clerks in Knoxville, TN, is $43,560, which is $8,380 less than the national average of $51,940.
What is the significance of the Location Quotient in Knoxville?
A Location Quotient of 1.22 means that Insurance Claims and Policy Processing Clerk roles are 22% more concentrated in Knoxville than the national average, suggesting a slightly higher demand or presence of these jobs.
Does the cost of living affect the salary in Knoxville?
The cost of living in Knoxville is exactly at the national average (100), meaning the $43,560 salary has the same purchasing power as the national average salary in a typical US city.
What is the total number of Insurance Claims and Policy Processing Clerks in Knoxville?
There are approximately 760 Insurance Claims and Policy Processing Clerks employed in the Knoxville, TN area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 760 employees in the Knoxville, TN area with a job density of 1.814 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 Knoxville, TN