Average Residential Advisors Salary in Memphis, TN-MS-AR
Residential Advisors in the Memphis, TN-MS-AR area earn an average annual salary of $36,770. This figure is notably below the national average of $41,320, suggesting localized economic factors and demand dynamics play a significant role in compensation within this region. The specific economic landscape and employer needs in Memphis influence this pay differential.
Executive Summary
- Average Salary: $36,770 per year.
- Growth Trend: Salaries have shifted 32.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $47,090.
- Outlook: With a local workforce of 590 Residential Advisors, the Memphis market demonstrates a moderate concentration of these professionals. The jobs per 1,000 workers metric indicates a steady presence, suggesting a stable, albeit not rapidly expanding, demand for this role within the region's employment ecosystem.
Salary Overview
The average Residential Advisors in Memphis, TN-MS-AR earns-11.0%below the national average.
$17.7
$707
$3,064
Residential Advisors Salary Trends (2020-2024)
While specific historical data is not provided, it's reasonable to assume that salaries for Residential Advisors in Memphis have likely seen incremental growth over the past four years, mirroring broader economic trends and inflation adjustments. This gradual increase would aim to keep compensation competitive within the local market and account for evolving job responsibilities.
Residential Advisors Salary Distribution in Memphis, TN-MS-AR
Salary progression for Residential Advisors typically correlates with experience. Entry-level positions often start at the lower end of the pay scale, while senior or lead roles command higher compensation. The percentile distribution of salaries would reveal significant gaps between junior and experienced professionals, underscoring the career advancement opportunities available.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Entry LevelStarting career. Focus on acquiring core skills. | 10% (Entry) | $28,200 | $13.6 |
| ExperiencedProficient professional working independently. | 25% (Junior) | $27,578 | $13.3 |
| Mid-LevelEstablished expert. Standard market value. | 50% (Median) | $35,470 | $17.1 |
| Senior LevelAdvanced skills, leadership or specialist role. | 75% (Senior) | $45,963 | $22.1 |
| Top TierIndustry leader / Executive level compensation. | 90% (Expert) | $47,090 | $22.6 |
Detailed Residential Advisors Market Analysis
Relocation Context
Nominal Salary
$36,770
Gross Pay
Real Wage (Purchasing Power)
$36,770
Adjusted for COL (100)
The average annual salary of $36,770 in Memphis, TN-MS-AR aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of a Residential Advisor's salary in Memphis is equivalent to the national average, offering a stable financial standing relative to the cost of essential goods and services.
Job Market Context
590
Total Jobs
0.948
Per 1K Jobs
1.77
Location Quotient
Memphis, TN-MS-AR has 1.8x the national concentration of Residential Advisors 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 1.77 for Residential Advisors in Memphis signifies a significantly higher concentration of these roles compared to the national average. This suggests that the Memphis area is a more prominent hub for this profession, potentially indicating greater job availability and a more competitive market for both employers and job seekers.
Nearby Job Markets
Nearby Cities for Residential Advisors
| City | Salary | Dist. |
|---|---|---|
| Jonesboro, AR Residential Advisors Salary | $37,720↑ 3% | 64 mi |
| Jackson, TN Residential Advisors Salary | $29,600↓ 19% | 74 mi |
Comparing salaries near Memphis, TN-MS-AR
Hiring Residential Advisorss?
Frequently Asked Questions
How much does a Residential Advisors make in Memphis, TN-MS-AR?
The median annual salary for a Residential Advisors in Memphis, TN-MS-AR is $36,770. This typically ranges from $28,200 for entry-level positions to $47,090 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Memphis, TN-MS-AR is 11.0% lower than the national median of $41,320.
Is Memphis, TN-MS-AR a lucrative place for Residential Advisors?
No, not particularly lucrative compared to the national average.While the cost of living is average, the nominal salary of $36,770 is below the national average of $41,320, indicating less financial advantage.
Is Memphis, TN-MS-AR a good place to live for Residential Advisors?
The Cost of Living Index in Memphis, TN-MS-AR is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Memphis, TN-MS-AR?
Some top paying nearby cities include Jonesboro, AR ($37,720) and Jackson, TN.
How does the Memphis Residential Advisor salary compare to the national average?
The average annual salary for Residential Advisors in Memphis is $36,770, which is lower than the national average of $41,320.
What is the concentration of Residential Advisors in Memphis?
Memphis has a higher concentration of Residential Advisors than the national average, indicated by a Location Quotient of 1.77.
Does the cost of living in Memphis affect the salary?
The cost of living in Memphis is at the national average (100), meaning the $36,770 salary has average purchasing power locally.
How many Residential Advisors are there in Memphis?
There are approximately 590 Residential Advisors employed in the Memphis, TN-MS-AR area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 590 employees in the Memphis, TN-MS-AR area with a job density of 0.948 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Residential Advisors • Data source: BLS OEWS 2024 •Jobs in Memphis, TN-MS-AR