Average Insurance Claims and Policy Processing Clerks Salary in Toledo, OH
In Toledo, OH, Insurance Claims and Policy Processing Clerks earn an average annual salary of $47,280. This figure is notably below the national average of $51,940, indicating localized economic factors and potentially a different competitive landscape influencing compensation within the region. The specific demand and supply dynamics for these roles in Toledo contribute to this pay differential.
Executive Summary
- Average Salary: $47,280 per year.
- Growth Trend: Salaries have shifted 29.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $60,870.
- Outlook: The job market for Insurance Claims and Policy Processing Clerks in Toledo, OH, appears to be relatively stable, though not a major hub. With a total local workforce of 210 individuals in this role and a Location Quotient of 0.48, the concentration of these jobs is below the national average. This suggests that while opportunities exist, the sheer volume of positions may not be as robust as in more concentrated metropolitan areas.
Salary Overview
The average Insurance Claims and Policy Processing Clerks in Toledo, OH earns-9.0%below the national average.
$22.7
$909
$3,940
Insurance Claims and Policy Processing Clerks Salary Trends (2020-2024)
While specific historical data for Toledo's insurance clerk salaries over the past four years is not provided, it is reasonable to assume a general upward trend mirroring national patterns. Economic shifts, inflation, and evolving industry demands typically drive modest annual salary increases for administrative roles. Therefore, professionals in this field in Toledo likely have experienced incremental growth in their earnings over the last half-decade.
Insurance Claims and Policy Processing Clerks Salary Distribution in Toledo, OH
Career progression for Insurance Claims and Policy Processing Clerks typically involves a clear salary scale tied to experience. Entry-level positions will command the lower end of the salary spectrum, while seasoned professionals with extensive knowledge of claims, policy nuances, and regulatory compliance can expect significantly higher compensation. The percentile gaps in salary distribution reflect these opportunities for advancement and increased earning potential as one moves from junior to senior roles.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $32,870 | $15.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $35,460 | $17 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $45,510 | $21.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $59,100 | $28.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $60,870 | $29.3 |
Detailed Insurance Claims and Policy Processing Clerks Market Analysis
Relocation Context
Nominal Salary
$47,280
Gross Pay
Real Wage (Purchasing Power)
$47,280
Adjusted for COL (100)
For individuals considering a move to Toledo, OH, the nominal salary of $47,280 aligns perfectly with the local Cost of Living Index of 100. This means that the purchasing power of an Insurance Claims and Policy Processing Clerk's salary in Toledo is equivalent to the national average. Consequently, the take-home pay effectively covers expenses at a standard national rate, making relocation financially neutral from a cost-of-living perspective.
Job Market Context
210
Total Jobs
0.718
Per 1K Jobs
0.48
Location Quotient
At 0.48x, Toledo, OH has a notably lower concentration of Insurance Claims and Policy Processing Clerks jobs than the national average. Opportunities in this area are relatively scarce for this profession.
The Location Quotient of 0.48 for Insurance Claims and Policy Processing Clerks in Toledo, OH, signifies that this profession is less concentrated locally compared to the national average. This suggests that the job market is not saturated, and while there are opportunities, the demand might be more specialized or spread across fewer employers. It implies a moderate level of competition, where skilled candidates can find positions, but the sheer abundance of jobs seen in national hotspots is absent.
Nearby Job Markets
Nearby Cities for Insurance Claims and Policy Processing Clerks
| City | Salary | Dist. |
|---|---|---|
| Ann Arbor, MI Insurance Claims and Policy Processing Clerks Salary | $46,920↓ 1% | 43 mi |
| Detroit-Warren-Dearborn, MI Insurance Claims and Policy Processing Clerks Salary | $50,570↑ 7% | 54 mi |
| Jackson, MI Insurance Claims and Policy Processing Clerks Salary | $47,250↓ 0% | 58 mi |
Comparing salaries near Toledo, OH
Hiring Insurance Claims and Policy Processing Clerkss?
Frequently Asked Questions
How much does a Insurance Claims and Policy Processing Clerks make in Toledo, OH?
The median annual salary for a Insurance Claims and Policy Processing Clerks in Toledo, OH is $47,280. This typically ranges from $32,870 for entry-level positions to $60,870 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Toledo, OH is 9.0% lower than the national median of $51,940.
Is Toledo, OH a lucrative place for Insurance Claims and Policy Processing Clerks?
No, not particularly lucrative compared to the national average.While the cost of living is average, the average salary of $47,280 is below the national average of $51,940. The lower concentration of jobs (LQ of 0.48) also indicates a less robust market.
Is Toledo, OH a good place to live for Insurance Claims and Policy Processing Clerks?
The Cost of Living Index in Toledo, OH is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Toledo, OH?
Some top paying nearby cities include Ann Arbor, MI ($46,920) and Detroit-Warren-Dearborn, MI.
How does Toledo's cost of living compare to the national average?
Toledo, OH, has a Cost of Living Index of 100, which is exactly the national average. This means that the general cost of goods and services, including housing, transportation, and utilities, is comparable to the U.S. average.
What is the concentration of Insurance Claims and Policy Processing Clerks in Toledo?
The concentration, measured by the Location Quotient (LQ), is 0.48. An LQ below 1.0 indicates that this profession is less common in Toledo than the national average, suggesting a smaller specialized workforce.
How many Insurance Claims and Policy Processing Clerk jobs are there per 1,000 workers in Toledo?
In Toledo, there are approximately 0.718 jobs per 1,000 workers for Insurance Claims and Policy Processing Clerks. This metric helps contextualize the prevalence of these roles within the local labor market.
Does experience significantly impact salary for this role in Toledo?
Yes, as with most professions, experience plays a crucial role. Senior clerks with specialized skills and a proven track record typically earn more than entry-level positions, reflecting increased responsibility and expertise.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 210 employees in the Toledo, OH area with a job density of 0.718 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 Toledo, OH