Average Tax Preparers Salary in Albany-Schenectady-Troy, NY
In the Albany-Schenectady-Troy, NY metropolitan area, Tax Preparers earn an average annual salary of $55,740. This figure is slightly below the national average of $58,860, a difference that can be attributed to a variety of local economic factors and the specific demand within this region. Understanding these nuances is key for professionals navigating the tax preparation landscape in this part of New York.
Executive Summary
- Average Salary: $55,740 per year.
- Growth Trend: Salaries have shifted 13.5% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $79,320.
- Outlook: The Albany-Schenectady-Troy region supports a dedicated workforce of 260 Tax Preparers, indicating a stable, albeit niche, job market. With a Location Quotient of 1.22, the concentration of these professionals is higher than the national average, suggesting a consistent demand for their specialized skills within the local economy. This robust presence points to a healthy environment for those seeking or maintaining a career in tax preparation within this area.
Salary Overview
The average Tax Preparers in Albany-Schenectady-Troy, NY earns-5.3%below the national average.
$26.8
$1,072
$4,645
Tax Preparers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Tax Preparers in Albany-Schenectady-Troy have experienced gradual growth over the past four years, mirroring national trends. Economic shifts, evolving tax laws, and increased demand for financial services typically drive incremental salary increases in this profession, ensuring that compensation remains competitive within the local market.
Tax Preparers Salary Distribution in Albany-Schenectady-Troy, NY
Career progression for Tax Preparers in Albany-Schenectady-Troy is typically marked by increasing earning potential. Entry-level positions often start at a lower percentile of the salary range, while seasoned professionals with extensive experience and specialized knowledge can command salaries significantly higher than the average. The widening gap between entry-level and senior-level compensation reflects the value placed on expertise and a proven track record in the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $33,690 | $16.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $41,805 | $20.1 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $53,940 | $25.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $69,675 | $33.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $79,320 | $38.1 |
Detailed Tax Preparers Market Analysis
Relocation Context
Nominal Salary
$55,740
Gross Pay
Real Wage (Purchasing Power)
$55,740
Adjusted for COL (100)
The average annual salary of $55,740 for Tax Preparers in Albany-Schenectady-Troy aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the nominal income earned by a Tax Preparer in this region has purchasing power equivalent to the national average. Therefore, relocating to or residing in Albany-Schenectady-Troy does not present a significant financial advantage or disadvantage from a cost-of-living perspective relative to the national median.
Job Market Context
260
Total Jobs
0.58
Per 1K Jobs
1.22
Location Quotient
With a location quotient of 1.22, Albany-Schenectady-Troy, NY has a slightly higher-than-average concentration of Tax Preparers roles compared to the national norm.
With a Location Quotient of 1.22, the Albany-Schenectady-Troy area demonstrates a concentration of Tax Preparers that is 22% higher than the national average. This suggests that the job market here is relatively robust and potentially more competitive, or conversely, that there is a greater demand for these services compared to other regions. Professionals in this field may find more opportunities or face a more specialized hiring landscape within this metropolitan area.
Nearby Job Markets
Nearby Cities for Tax Preparers
| City | Salary | Dist. |
|---|---|---|
| Southwest New York nonmetropolitan area Tax Preparers Salary | $51,960↓ 7% | 68 mi |
| Central East New York nonmetropolitan area Tax Preparers Salary | $53,240↓ 4% | 68 mi |
Comparing salaries near Albany-Schenectady-Troy, NY
Hiring Tax Preparerss?
Frequently Asked Questions
How much does a Tax Preparers make in Albany-Schenectady-Troy, NY?
The median annual salary for a Tax Preparers in Albany-Schenectady-Troy, NY is $55,740. This typically ranges from $33,690 for entry-level positions to $79,320 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Albany-Schenectady-Troy, NY is 5.3% lower than the national median of $58,860.
Is Albany-Schenectady-Troy, NY a lucrative place for Tax Preparers?
Yes, with caveats.The average salary of $55,740 is on par with the national average, and the cost of living is also at the national average. The higher-than-average concentration of Tax Preparers suggests consistent demand.
Is Albany-Schenectady-Troy, NY a good place to live for Tax Preparers?
The Cost of Living Index in Albany-Schenectady-Troy, NY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Albany-Schenectady-Troy, NY?
Some top paying nearby cities include Southwest New York nonmetropolitan area ($51,960) and Central East New York nonmetropolitan area.
How does the Albany-Schenectady-Troy salary compare to the national average?
The average annual salary for Tax Preparers in Albany-Schenectady-Troy is $55,740, which is slightly lower than the national average of $58,860.
What is the significance of the Location Quotient (LQ) of 1.22?
An LQ of 1.22 indicates that the concentration of Tax Preparers in the Albany-Schenectady-Troy area is 22% higher than the national average, suggesting a strong presence and potentially higher demand for these services.
How does the cost of living affect the Tax Preparer salary in Albany-Schenectady-Troy?
With a Cost of Living Index of 100, the local expenses are equivalent to the national average. This means the $55,740 salary offers purchasing power consistent with the national median.
What is the total number of Tax Preparers in the Albany-Schenectady-Troy area?
There are approximately 260 Tax Preparers employed within the Albany-Schenectady-Troy metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 260 employees in the Albany-Schenectady-Troy, NY area with a job density of 0.58 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Tax Preparers • Data source: BLS OEWS 2024 •Jobs in Albany-Schenectady-Troy, NY