Average Payroll and Timekeeping Clerks Salary in Lexington-Fayette, KY
Payroll and Timekeeping Clerks in Lexington-Fayette, KY earn an average annual salary of $53,080. This figure is slightly below the national average of $56,360, indicating that local market dynamics and potentially a slightly lower demand influence compensation in this region. While the pay may differ from national benchmarks, it's crucial to consider the local economic landscape.
Executive Summary
- Average Salary: $53,080 per year.
- Growth Trend: Salaries have shifted 18.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $73,520.
- Outlook: With a total local workforce of 230 Payroll and Timekeeping Clerks, Lexington-Fayette, KY presents a moderately sized employment pool. The Location Quotient of 0.8 suggests that this occupation is slightly less concentrated here compared to the national average, implying a stable but not exceptionally high demand for these roles within the local economy.
Salary Overview
The average Payroll and Timekeeping Clerks in Lexington-Fayette, KY earns-5.8%below the national average.
$25.5
$1,021
$4,423
Payroll and Timekeeping Clerks Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Payroll and Timekeeping Clerks in Lexington-Fayette, KY have experienced gradual growth over the past four years, mirroring national trends. Economic factors and the increasing complexity of payroll systems likely contribute to a steady upward trajectory in compensation for skilled professionals in this field.
Payroll and Timekeeping Clerks Salary Distribution in Lexington-Fayette, KY
Career progression for Payroll and Timekeeping Clerks in Lexington-Fayette, KY typically involves a salary increase with experience. Entry-level positions might start closer to the lower percentiles, while senior clerks with extensive knowledge of regulations and advanced software proficiency can command salaries in the upper percentiles. These percentile gaps clearly signify the value of accumulated experience and specialized skills in the job market.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $31,690 | $15.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $39,810 | $19.1 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $53,910 | $25.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $66,350 | $31.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $73,520 | $35.3 |
Detailed Payroll and Timekeeping Clerks Market Analysis
Relocation Context
Nominal Salary
$53,080
Gross Pay
Real Wage (Purchasing Power)
$53,080
Adjusted for COL (100)
The nominal salary of $53,080 in Lexington-Fayette, KY aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of a Payroll and Timekeeping Clerk's salary in this area is equivalent to the national standard, offering a balanced financial outlook for residents.
Job Market Context
230
Total Jobs
0.813
Per 1K Jobs
0.8
Location Quotient
Lexington-Fayette, KY has 0.80x the national average concentration of Payroll and Timekeeping Clerks jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
A Location Quotient of 0.8 for Payroll and Timekeeping Clerks in Lexington-Fayette, KY indicates that the concentration of these jobs is slightly below the national average. This suggests that while the profession is present and necessary, the market is not oversaturated, potentially offering a balanced competitive environment for job seekers and employers alike.
Nearby Job Markets
Nearby Cities for Payroll and Timekeeping Clerks
| City | Salary | Dist. |
|---|---|---|
| Central Kentucky nonmetropolitan area Payroll and Timekeeping Clerks Salary | $48,970↓ 8% | 28 mi |
| South Central Kentucky nonmetropolitan area Payroll and Timekeeping Clerks Salary | $46,910↓ 12% | 28 mi |
| West Kentucky nonmetropolitan area Payroll and Timekeeping Clerks Salary | $51,310↓ 3% | 28 mi |
| East Kentucky nonmetropolitan area Payroll and Timekeeping Clerks Salary | $44,580↓ 16% | 28 mi |
| Louisville/Jefferson County, KY-IN Payroll and Timekeeping Clerks Salary | $54,070↑ 2% | 72 mi |
Comparing salaries near Lexington-Fayette, KY
Hiring Payroll and Timekeeping Clerkss?
Frequently Asked Questions
How much does a Payroll and Timekeeping Clerks make in Lexington-Fayette, KY?
The median annual salary for a Payroll and Timekeeping Clerks in Lexington-Fayette, KY is $53,080. This typically ranges from $31,690 for entry-level positions to $73,520 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Lexington-Fayette, KY is 5.8% lower than the national median of $56,360.
Is Lexington-Fayette, KY a lucrative place for Payroll and Timekeeping Clerks?
No, not exceptionally lucrative compared to the national average.The average salary of $53,080 is below the national average of $56,360, although the cost of living is on par with the national average.
Is Lexington-Fayette, KY a good place to live for Payroll and Timekeeping Clerks?
The Cost of Living Index in Lexington-Fayette, KY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Lexington-Fayette, KY?
Some top paying nearby cities include Central Kentucky nonmetropolitan area ($48,970) and South Central Kentucky nonmetropolitan area.
How does the local workforce size affect job prospects?
A local workforce of 230 Payroll and Timekeeping Clerks suggests a stable job market, but the slightly lower concentration (LQ of 0.8) implies that opportunities might be less abundant than in more concentrated national areas.
What is the significance of the Location Quotient (LQ) being 0.8?
An LQ of 0.8 means there are fewer Payroll and Timekeeping Clerks per worker in Lexington-Fayette, KY compared to the national average, indicating a slightly less specialized local market for this role.
Does the Cost of Living Index of 100 impact salary expectations?
Yes, a Cost of Living Index of 100 means that your $53,080 salary in Lexington-Fayette, KY has the same purchasing power as the national average salary, making it a fair reflection of local economic conditions.
How does experience influence a Payroll and Timekeeping Clerk's salary in this area?
As with most professions, experience significantly impacts earnings. Entry-level clerks will earn less, while those with several years of experience and specialized skills can expect to move into higher salary brackets, reflecting increased value and responsibility.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 230 employees in the Lexington-Fayette, KY area with a job density of 0.813 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Payroll and Timekeeping Clerks • Data source: BLS OEWS 2024 •Jobs in Lexington-Fayette, KY