Average Payroll and Timekeeping Clerks Salary in Richmond, VA
In Richmond, VA, Payroll and Timekeeping Clerks earn an average annual salary of $54,440. This figure is slightly below the national average of $56,360, suggesting a localized compensation structure influenced by regional economic factors and the specific demand within the Richmond area. The cost of living in Richmond aligns perfectly with the national average, making this salary competitive within its local context.
Executive Summary
- Average Salary: $54,440 per year.
- Growth Trend: Salaries have shifted 18.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $71,640.
- Outlook: Richmond, VA hosts a workforce of 560 Payroll and Timekeeping Clerks, representing 0.86 jobs per 1,000 workers. With a Location Quotient of 0.84, the concentration of these roles is slightly below the national average. This indicates a stable, albeit not exceptionally concentrated, job market for payroll professionals in the region, suggesting consistent demand without an oversupply of specialized talent.
Salary Overview
The average Payroll and Timekeeping Clerks in Richmond, VA earns-3.4%below the national average.
$26.2
$1,047
$4,537
Payroll and Timekeeping Clerks Salary Trends (2020-2024)
While specific historical data for Richmond's Payroll and Timekeeping Clerk salaries isn't provided, it's reasonable to assume a general upward trend mirroring national patterns over the past four years. Economic growth, inflation, and evolving payroll complexities likely contribute to incremental salary increases, ensuring compensation remains competitive and reflective of the role's importance.
Payroll and Timekeeping Clerks Salary Distribution in Richmond, VA
Salary progression for Payroll and Timekeeping Clerks in Richmond, VA, typically scales with experience. Entry-level positions may start at the lower end of the pay scale, while senior clerks with extensive experience and specialized skills can command significantly higher salaries, potentially reaching the 75th or 90th percentile. These percentile gaps highlight the substantial career growth and earning potential available within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $39,310 | $18.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $40,830 | $19.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $53,080 | $25.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $68,050 | $32.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $71,640 | $34.4 |
Detailed Payroll and Timekeeping Clerks Market Analysis
Relocation Context
Nominal Salary
$54,440
Gross Pay
Real Wage (Purchasing Power)
$54,440
Adjusted for COL (100)
The average annual salary of $54,440 in Richmond, VA, is well-positioned given the local Cost of Living Index of 100. This means that the purchasing power of a Payroll and Timekeeping Clerk's salary in Richmond is equivalent to the national average. Consequently, the nominal salary translates directly into a comparable standard of living, making relocation financially neutral from a cost-of-living perspective.
Job Market Context
560
Total Jobs
0.86
Per 1K Jobs
0.84
Location Quotient
Richmond, VA has 0.84x 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 0.84 for Payroll and Timekeeping Clerks in Richmond, VA, indicates that the occupation is slightly less concentrated than the national average. This suggests a moderately competitive job market where demand is steady but not overwhelmingly high. While not a booming hub for this specific role, the market offers stable opportunities for skilled professionals.
Nearby Job Markets
Nearby Cities for Payroll and Timekeeping Clerks
| City | Salary | Dist. |
|---|---|---|
| Southside Virginia nonmetropolitan area Payroll and Timekeeping Clerks Salary | $47,590↓ 13% | 41 mi |
| Northern West Virginia nonmetropolitan area Payroll and Timekeeping Clerks Salary | $42,420↓ 22% | 41 mi |
| Southwest Virginia nonmetropolitan area Payroll and Timekeeping Clerks Salary | $51,000↓ 6% | 41 mi |
| Northwest Virginia nonmetropolitan area Payroll and Timekeeping Clerks Salary | $47,620↓ 13% | 41 mi |
| Southern West Virginia nonmetropolitan area Payroll and Timekeeping Clerks Salary | $41,030↓ 25% | 41 mi |
Comparing salaries near Richmond, VA
Hiring Payroll and Timekeeping Clerkss?
Frequently Asked Questions
How much does a Payroll and Timekeeping Clerks make in Richmond, VA?
The median annual salary for a Payroll and Timekeeping Clerks in Richmond, VA is $54,440. This typically ranges from $39,310 for entry-level positions to $71,640 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Richmond, VA is 3.4% lower than the national median of $56,360.
Is Richmond, VA a lucrative place for Payroll and Timekeeping Clerks?
Yes, Richmond, VA offers a competitive salary for Payroll and Timekeeping Clerks.The average salary of $54,440 aligns with the national average cost of living, providing a stable financial standing for professionals in this role.
Is Richmond, VA a good place to live for Payroll and Timekeeping Clerks?
The Cost of Living Index in Richmond, VA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Richmond, VA?
Some top paying nearby cities include Southside Virginia nonmetropolitan area ($47,590) and Northern West Virginia nonmetropolitan area.
How does Richmond's Payroll Clerk salary compare to the national average?
The average annual salary for Payroll and Timekeeping Clerks in Richmond, VA is $54,440, which is slightly lower than the national average of $56,360.
What is the concentration of Payroll and Timekeeping Clerks in Richmond, VA?
Richmond, VA has a Location Quotient of 0.84 for this role, indicating a slightly lower concentration compared to the national average.
How does the cost of living in Richmond affect the salary?
Richmond's Cost of Living Index is 100, matching the national average. This means the $54,440 salary offers a purchasing power equivalent to the national average.
What is the total number of Payroll and Timekeeping Clerks in Richmond, VA?
There are approximately 560 Payroll and Timekeeping Clerks employed in the Richmond, VA area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 560 employees in the Richmond, VA area with a job density of 0.86 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 Richmond, VA