Average Insurance Claims and Policy Processing Clerks Salary in Waco, TX
Insurance Claims and Policy Processing Clerks in Waco, TX earn an average annual salary of $55,140, surpassing the national average of $51,940. This favorable pay differential is often influenced by the specific economic landscape and demand within the Waco metropolitan area, reflecting local market dynamics rather than a broad national trend.
Executive Summary
- Average Salary: $55,140 per year.
- Growth Trend: Salaries have shifted 39.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $83,100.
- Outlook: Waco, TX presents a robust employment environment for Insurance Claims and Policy Processing Clerks, evidenced by a substantial local workforce of 570 individuals. The Location Quotient of 2.95 indicates a significantly higher concentration of these roles compared to the national average, suggesting strong and sustained demand within the region.
Salary Overview
The average Insurance Claims and Policy Processing Clerks in Waco, TX earns+6.2%above the national average.
$26.5
$1,060
$4,595
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 Waco, TX have experienced consistent growth over the past four years, mirroring national trends of increasing compensation driven by inflation, evolving job responsibilities, and a competitive labor market.
Insurance Claims and Policy Processing Clerks Salary Distribution in Waco, TX
Career progression for Insurance Claims and Policy Processing Clerks in Waco, TX typically involves a significant salary increase with experience. Entry-level positions may start closer to the lower end of the pay scale, while senior clerks with specialized skills and extensive experience can command salaries considerably higher than the average, with percentile gaps clearly signifying this advancement potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $31,890 | $15.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $41,355 | $19.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $47,320 | $22.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $68,925 | $33.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $83,100 | $40 |
Detailed Insurance Claims and Policy Processing Clerks Market Analysis
Relocation Context
Nominal Salary
$55,140
Gross Pay
Real Wage (Purchasing Power)
$55,140
Adjusted for COL (100)
For professionals considering a move to Waco, TX, the average annual salary of $55,140 aligns perfectly with the local Cost of Living Index of 100, which is equivalent to the national average. This means that the purchasing power of an Insurance Claims and Policy Processing Clerk's salary in Waco is directly comparable to the national standard, offering stable financial footing.
Job Market Context
570
Total Jobs
4.387
Per 1K Jobs
2.95
Location Quotient
Waco, TX has 3.0x the national concentration of Insurance Claims and Policy Processing Clerks jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
The Location Quotient of 2.95 for Insurance Claims and Policy Processing Clerks in Waco, TX signifies a highly concentrated job market, nearly three times denser than the national average. This indicates that Waco is a key hub for this profession, suggesting a competitive environment for employers seeking talent and potentially more abundant opportunities for job seekers.
Nearby Job Markets
Nearby Cities for Insurance Claims and Policy Processing Clerks
Comparing salaries near Waco, TX
Hiring Insurance Claims and Policy Processing Clerkss?
Frequently Asked Questions
How much does a Insurance Claims and Policy Processing Clerks make in Waco, TX?
The median annual salary for a Insurance Claims and Policy Processing Clerks in Waco, TX is $55,140. This typically ranges from $31,890 for entry-level positions to $83,100 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Waco, TX is 6.2% higher than the national median of $51,940.
Is Waco, TX a lucrative place for Insurance Claims and Policy Processing Clerks?
Yes, Waco, TX offers a lucrative environment for Insurance Claims and Policy Processing Clerks.The average salary of $55,140 exceeds the national average, and with a cost of living at the national average, your earnings provide strong purchasing power.
Is Waco, TX a good place to live for Insurance Claims and Policy Processing Clerks?
The Cost of Living Index in Waco, TX is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Waco, TX?
Some top paying nearby cities include North Region of Texas nonmetropolitan area ($47,940) and Northwestern Region of Texas nonmetropolitan area.
How does the Waco job market compare to the national average for this role?
Waco's job market for Insurance Claims and Policy Processing Clerks is significantly more concentrated than the national average, with a Location Quotient of 2.95, indicating a higher density of these jobs locally.
What is the total number of Insurance Claims and Policy Processing Clerk jobs in Waco?
There are approximately 570 Insurance Claims and Policy Processing Clerks employed within the Waco, TX area.
Does experience impact salary for this role in Waco?
Yes, experience significantly influences salary, with senior clerks earning substantially more than entry-level professionals, reflecting a clear career growth path.
How does the cost of living in Waco affect the salary?
The cost of living in Waco is exactly at the national average (100), meaning the $55,140 average salary offers purchasing power equivalent to the national median.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 570 employees in the Waco, TX area with a job density of 4.387 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 Waco, TX