Average New Accounts Clerks Salary in Grand Rapids-Wyoming-Kentwood, MI
New Accounts Clerks in the Grand Rapids-Wyoming-Kentwood, MI area earn an average annual salary of $44,100. This figure is slightly below the national average of $47,610, a common occurrence in regions where specific industry concentrations or local economic factors influence compensation rates. The unique economic landscape of Grand Rapids shapes the earning potential for these vital administrative roles.
Executive Summary
- Average Salary: $44,100 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $50,580.
- Outlook: The Grand Rapids-Wyoming-Kentwood, MI metropolitan area demonstrates a notable concentration of New Accounts Clerk positions, as indicated by a Location Quotient of 2.8, significantly exceeding the national average. With a local workforce of 390 individuals in this role, the demand appears robust and specialized within this region, suggesting a stable job market for skilled professionals.
Salary Overview
The average New Accounts Clerks in Grand Rapids-Wyoming-Kentwood, MI earns-7.4%below the national average.
$21.2
$848
$3,675
New Accounts Clerks Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for New Accounts Clerks in Grand Rapids-Wyoming-Kentwood, MI have experienced gradual growth over the past four years, mirroring broader economic trends and inflation adjustments. This upward trajectory is typical for administrative support roles as businesses adapt to evolving market demands and seek to retain experienced talent.
New Accounts Clerks Salary Distribution in Grand Rapids-Wyoming-Kentwood, MI
Career progression for New Accounts Clerks typically involves a salary increase tied to experience and acquired skills. Entry-level positions may start closer to the lower end of the pay scale, while senior clerks with extensive experience in financial processing, client relations, and regulatory compliance can command salaries significantly higher than the average. The percentile gaps in salary distribution highlight these opportunities for advancement.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $36,940 | $17.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $33,075 | $15.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $45,450 | $21.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $55,125 | $26.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $50,580 | $24.3 |
Detailed New Accounts Clerks Market Analysis
Relocation Context
Nominal Salary
$44,100
Gross Pay
Real Wage (Purchasing Power)
$44,100
Adjusted for COL (100)
The nominal average salary of $44,100 for New Accounts Clerks in Grand Rapids-Wyoming-Kentwood, MI aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of this salary is equivalent to the national average, offering a stable financial environment for residents without the added pressure of higher or lower living expenses.
Job Market Context
390
Total Jobs
0.69
Per 1K Jobs
2.8
Location Quotient
Grand Rapids-Wyoming-Kentwood, MI has 2.8x the national concentration of New Accounts Clerks jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
A Location Quotient of 2.8 signifies that New Accounts Clerks are approximately 2.8 times more concentrated in the Grand Rapids-Wyoming-Kentwood, MI area than in the nation overall. This high concentration suggests a strong, specialized demand for these professionals within the local economy, potentially leading to greater job availability and competitive opportunities for those seeking employment in this field.
Nearby Job Markets
Nearby Cities for New Accounts Clerks
| City | Salary | Dist. |
|---|---|---|
| Kalamazoo-Portage, MI New Accounts Clerks Salary | $43,460↓ 1% | 48 mi |
| Battle Creek, MI New Accounts Clerks Salary | $43,070↓ 2% | 51 mi |
| Lansing-East Lansing, MI New Accounts Clerks Salary | $45,550↑ 3% | 58 mi |
| Mid Michigan nonmetropolitan area New Accounts Clerks Salary | $43,840↓ 1% | 62 mi |
Comparing salaries near Grand Rapids-Wyoming-Kentwood, MI
Hiring New Accounts Clerkss?
Frequently Asked Questions
How much does a New Accounts Clerks make in Grand Rapids-Wyoming-Kentwood, MI?
The median annual salary for a New Accounts Clerks in Grand Rapids-Wyoming-Kentwood, MI is $44,100. This typically ranges from $36,940 for entry-level positions to $50,580 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Grand Rapids-Wyoming-Kentwood, MI is 7.4% lower than the national median of $47,610.
Is Grand Rapids-Wyoming-Kentwood, MI a lucrative place for New Accounts Clerks?
Yes, with a caveat.While the average salary is slightly below the national average, the cost of living is also at the national average, making the purchasing power equivalent. The high concentration of these roles indicates strong local demand.
Is Grand Rapids-Wyoming-Kentwood, MI a good place to live for New Accounts Clerks?
The Cost of Living Index in Grand Rapids-Wyoming-Kentwood, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Grand Rapids-Wyoming-Kentwood, MI?
Some top paying nearby cities include Kalamazoo-Portage, MI ($43,460) and Battle Creek, MI.
How does experience impact New Accounts Clerk salaries in Grand Rapids?
Experience is a significant factor. Entry-level clerks will earn less, while those with several years of experience and specialized skills can expect to earn substantially more than the $44,100 average.
What is the significance of the Location Quotient (LQ) for this role?
An LQ of 2.8 indicates a much higher concentration of New Accounts Clerks in Grand Rapids compared to the national average, suggesting a robust local job market for this profession.
How does the Grand Rapids salary compare to the national average?
The average salary of $44,100 in Grand Rapids is slightly lower than the national average of $47,610, but this is offset by a comparable cost of living.
Are there many New Accounts Clerk jobs in Grand Rapids?
With 0.69 jobs per 1,000 workers and a high Location Quotient, the market appears to have a good number of opportunities relative to the national density.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 390 employees in the Grand Rapids-Wyoming-Kentwood, MI area with a job density of 0.69 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for New Accounts Clerks • Data source: BLS OEWS 2024 •Jobs in Grand Rapids-Wyoming-Kentwood, MI