Average Insurance Claims and Policy Processing Clerks Salary in Springfield, MA
In Springfield, MA, Insurance Claims and Policy Processing Clerks earn an average annual salary of $53,470. This figure slightly surpasses the national average of $51,940, indicating a modest premium for this role within the local market. Factors such as regional demand and the specific economic landscape of Western Massachusetts likely contribute to this compensation.
Executive Summary
- Average Salary: $53,470 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $70,260.
- Outlook: Springfield, MA supports a local workforce of 260 Insurance Claims and Policy Processing Clerks. With a Location Quotient of 0.89, the concentration of these roles is just below the national average, suggesting a stable but not overly saturated job market. The presence of 1.316 jobs per 1,000 workers indicates consistent, albeit moderate, demand for these essential administrative positions.
Salary Overview
The average Insurance Claims and Policy Processing Clerks in Springfield, MA earns+2.9%above the national average.
$25.7
$1,028
$4,456
Insurance Claims and Policy Processing Clerks Salary Trends (2020-2024)
While specific historical data for Springfield, MA is not provided, it is reasonable to assume that salaries for Insurance Claims and Policy Processing Clerks have seen gradual growth over the past four years, mirroring national trends. Economic shifts, inflation, and evolving industry demands typically drive incremental increases in compensation for administrative roles.
Insurance Claims and Policy Processing Clerks Salary Distribution in Springfield, MA
The salary trajectory for Insurance Claims and Policy Processing Clerks typically scales with experience. Entry-level positions may start closer to the lower percentiles, while seasoned professionals with extensive knowledge of claims and policy intricacies can command salaries in the upper percentiles. These percentile gaps highlight significant career progression opportunities within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $37,220 | $17.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $40,103 | $19.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $48,680 | $23.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $66,838 | $32.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $70,260 | $33.8 |
Detailed Insurance Claims and Policy Processing Clerks Market Analysis
Relocation Context
Nominal Salary
$53,470
Gross Pay
Real Wage (Purchasing Power)
$53,470
Adjusted for COL (100)
The average annual salary of $53,470 in Springfield, MA 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 Springfield is equivalent to the national average, offering a stable financial standing relative to the cost of goods and services.
Job Market Context
260
Total Jobs
1.316
Per 1K Jobs
0.89
Location Quotient
Springfield, MA has 0.89x the national average concentration of Insurance Claims and Policy Processing Clerks jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
With a Location Quotient of 0.89, Springfield, MA exhibits a slightly lower concentration of Insurance Claims and Policy Processing Clerks compared to the national average. This suggests that while the demand exists, the market is not saturated, potentially offering a competitive environment for skilled professionals seeking employment in this sector.
Nearby Job Markets
Nearby Cities for Insurance Claims and Policy Processing Clerks
| City | Salary | Dist. |
|---|---|---|
| Hartford-West Hartford-East Hartford, CT Insurance Claims and Policy Processing Clerks Salary | $60,910↑ 14% | 25 mi |
| Worcester, MA Insurance Claims and Policy Processing Clerks Salary | $53,910↑ 1% | 39 mi |
| Pittsfield, MA Insurance Claims and Policy Processing Clerks Salary | $55,150↑ 3% | 44 mi |
Comparing salaries near Springfield, MA
Hiring Insurance Claims and Policy Processing Clerkss?
Frequently Asked Questions
How much does a Insurance Claims and Policy Processing Clerks make in Springfield, MA?
The median annual salary for a Insurance Claims and Policy Processing Clerks in Springfield, MA is $53,470. This typically ranges from $37,220 for entry-level positions to $70,260 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Springfield, MA is 2.9% higher than the national median of $51,940.
Is Springfield, MA a lucrative place for Insurance Claims and Policy Processing Clerks?
Yes, Springfield, MA offers a competitive salary for Insurance Claims and Policy Processing Clerks.The average salary of $53,470 slightly exceeds the national average, and the cost of living is exactly at the national average, providing good purchasing power.
Is Springfield, MA a good place to live for Insurance Claims and Policy Processing Clerks?
The Cost of Living Index in Springfield, MA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Springfield, MA?
Some top paying nearby cities include Hartford-West Hartford-East Hartford, CT ($60,910) and Worcester, MA.
How does the Springfield, MA salary compare to the national average?
The average salary for Insurance Claims and Policy Processing Clerks in Springfield, MA is $53,470, which is slightly higher than the national average of $51,940.
What is the cost of living in Springfield, MA for this role?
The cost of living in Springfield, MA is at the national average (index of 100), meaning your salary of $53,470 has the same purchasing power as the national average salary.
Is there high demand for Insurance Claims and Policy Processing Clerks in Springfield, MA?
The demand is moderate, with 1.316 jobs per 1,000 workers and a Location Quotient of 0.89, indicating a stable market that is slightly less concentrated than the national average.
How many Insurance Claims and Policy Processing Clerks work in Springfield, MA?
There are approximately 260 Insurance Claims and Policy Processing Clerks employed in Springfield, MA.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 260 employees in the Springfield, MA area with a job density of 1.316 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 Springfield, MA