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Average New Accounts Clerks Salary in Michigan

New Accounts Clerks in Michigan earn an average annual salary of $47,300. This figure is slightly below the national average of $47,610, indicating a marginal difference in compensation for this role within the state. Local economic factors and the specific demand within Michigan's financial sector likely contribute to this pay rate.

Executive Summary

  • Average Salary: $47,300 per year.
  • Growth Trend: Salaries have shifted 25.0% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $57,530.
  • Outlook: With a local workforce of 3,090 New Accounts Clerks, Michigan demonstrates a significant concentration of these professionals, as evidenced by a Location Quotient of 2.85. This high concentration suggests a robust and established job market for New Accounts Clerks within the state, indicating steady demand and a healthy number of available positions relative to the national average.
2024 Market Data

Salary Overview

$47,300

The average New Accounts Clerks in Michigan earns-0.7%below the national average.

BreakdownBased on 40h/week
Hourly

$22.7

Weekly

$910

Monthly

$3,942

New Accounts Clerks Salary Distribution in Michigan

The salary trajectory for New Accounts Clerks in Michigan typically scales with experience. Entry-level positions may start closer to the lower percentiles, while senior or lead roles command salaries in the higher percentiles. The observable gaps between salary percentiles signify clear career progression pathways and the increasing value placed on accumulated expertise and responsibility within the field.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$37,710$18.1
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$35,475$17.1
ManagerOversees team, compliance, and project delivery.50% (Median)$47,830$23
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$59,125$28.4
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$57,530$27.7

Detailed New Accounts Clerks Market Analysis

Relocation Context

Nominal Salary

$47,300

Gross Pay

Real Wage (Purchasing Power)

$52,208

Adjusted for COL (90.6)

The average annual salary of $47,300 in Michigan offers a favorable purchasing power, given the state's Cost of Living Index of 90.6. This index is below the national average of 100, meaning that the nominal salary earned by New Accounts Clerks in Michigan can generally cover more goods and services compared to the national average, making it a potentially cost-effective location.

Job Market Context

3,090

Total Jobs

0.704

Per 1K Jobs

2.85

Location Quotient

Major Hub

Michigan has 2.9x 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.

Michigan's Location Quotient of 2.85 for New Accounts Clerks signifies a substantial concentration of these roles compared to the national average. This indicates that the job market is not only robust but also relatively abundant in opportunities for this specific profession within the state, suggesting a competitive yet accessible environment for job seekers.

Nearby Job Markets

Nearby Cities for New Accounts Clerks

CitySalaryDist.
Saginaw, MI New Accounts Clerks Salary$44,670↓ 6%30 mi
Lansing-East Lansing, MI New Accounts Clerks Salary$45,550↓ 4%42 mi
Flint, MI New Accounts Clerks Salary$49,230↑ 4%47 mi

Comparing salaries near Michigan

Hiring New Accounts Clerkss?

Frequently Asked Questions

How much does a New Accounts Clerks make in Michigan?

The median annual salary for a New Accounts Clerks in Michigan is $47,300. This typically ranges from $37,710 for entry-level positions to $57,530 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Michigan is 0.7% lower than the national median of $47,610.

Is Michigan a lucrative place for New Accounts Clerks?

Yes, with a caveat regarding cost of living.Michigan offers a strong concentration of New Accounts Clerk jobs (LQ 2.85) and a cost of living below the national average. While the average salary is slightly under the national average, the lower cost of living enhances purchasing power.

Is Michigan a good place to live for New Accounts Clerks?

With a Cost of Living Index of 90.6 (lower than the national average of 100), your salary goes further here.

Where are the highest paying cities near Michigan?

Some top paying nearby cities include Saginaw, MI ($44,670) and Lansing-East Lansing, MI.

How does the Michigan salary compare to the national average?

The average annual salary for New Accounts Clerks in Michigan is $47,300, which is slightly lower than the national average of $47,610.

What does the Location Quotient of 2.85 mean for New Accounts Clerks in Michigan?

A Location Quotient of 2.85 indicates that New Accounts Clerks are employed in Michigan at a rate 2.85 times higher than the national average, signifying a strong presence and demand for this role in the state.

How does the cost of living in Michigan affect the New Accounts Clerk salary?

With a Cost of Living Index of 90.6 (below the national average of 100), the $47,300 salary in Michigan offers better purchasing power than the same salary would in a higher cost-of-living area.

What is the total number of New Accounts Clerks in Michigan?

There are approximately 3,090 New Accounts Clerks employed within Michigan, representing a significant segment of the state's workforce in this occupation.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 3,090 employees in the Michigan area with a job density of 0.704 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for New Accounts Clerks • Data source: BLS OEWS 2024 •Jobs in Michigan