Average Tax Preparers Salary in Minneapolis-St. Paul-Bloomington, MN-WI
Tax Preparers in the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area earn an impressive average annual salary of $74,060. This figure significantly surpasses the national average of $58,860, indicating a robust local demand and potentially higher cost of doing business or specialized skill requirements within the region. The economic landscape of Minneapolis-St. Paul-Bloomington appears to favor compensation for this profession.
Executive Summary
- Average Salary: $74,060 per year.
- Growth Trend: Salaries have shifted 34.2% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $133,880.
- Outlook: With a local workforce of 1,000 Tax Preparers and a Location Quotient of 1.08, the Minneapolis-St. Paul-Bloomington area demonstrates a slightly higher concentration of these professionals than the national average. This suggests a stable, if not growing, demand for tax preparation services, indicating a healthy job market for individuals in this field within the region.
Salary Overview
The average Tax Preparers in Minneapolis-St. Paul-Bloomington, MN-WI earns+25.8%above the national average.
$35.6
$1,424
$6,172
Tax Preparers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Tax Preparers in Minneapolis-St. Paul-Bloomington have experienced steady growth over the past four years, mirroring national trends of increasing compensation driven by inflation, evolving tax laws, and demand for expertise. This upward trajectory likely positions current earnings even more favorably compared to historical benchmarks.
Tax Preparers Salary Distribution in Minneapolis-St. Paul-Bloomington, MN-WI
The salary spectrum for Tax Preparers in Minneapolis-St. Paul-Bloomington typically ranges from entry-level positions to highly experienced senior roles. While exact figures vary, the progression from an early-career professional to a seasoned expert often sees significant salary increases, with higher percentiles reflecting advanced skills, client portfolios, and specialized knowledge in complex tax matters.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $35,780 | $17.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $55,545 | $26.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $66,560 | $32 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $92,575 | $44.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $133,880 | $64.4 |
Detailed Tax Preparers Market Analysis
Relocation Context
Nominal Salary
$74,060
Gross Pay
Real Wage (Purchasing Power)
$74,060
Adjusted for COL (100)
The average annual salary of $74,060 in Minneapolis-St. Paul-Bloomington aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of a Tax Preparer's salary in this area is equivalent to the national standard, offering a balanced lifestyle without significant financial strain due to living expenses.
Job Market Context
1,000
Total Jobs
0.517
Per 1K Jobs
1.08
Location Quotient
With a location quotient of 1.08, Minneapolis-St. Paul-Bloomington, MN-WI has a slightly higher-than-average concentration of Tax Preparers roles compared to the national norm.
The Location Quotient of 1.08 for Tax Preparers in Minneapolis-St. Paul-Bloomington suggests a market that is slightly more concentrated with these professionals than the national average. This indicates a healthy and established presence of tax preparation services, implying a competitive yet accessible environment for both job seekers and employers.
Nearby Job Markets
Nearby Cities for Tax Preparers
| City | Salary | Dist. |
|---|---|---|
| Northwest Minnesota nonmetropolitan area Tax Preparers Salary | $62,970↓ 15% | 58 mi |
| Southeast Minnesota nonmetropolitan area Tax Preparers Salary | $61,300↓ 17% | 58 mi |
| Southwest Minnesota nonmetropolitan area Tax Preparers Salary | $84,650↑ 14% | 58 mi |
| St. Cloud, MN Tax Preparers Salary | $75,810↑ 2% | 59 mi |
Comparing salaries near Minneapolis-St. Paul-Bloomington, MN-WI
Hiring Tax Preparerss?
Frequently Asked Questions
How much does a Tax Preparers make in Minneapolis-St. Paul-Bloomington, MN-WI?
The median annual salary for a Tax Preparers in Minneapolis-St. Paul-Bloomington, MN-WI is $74,060. This typically ranges from $35,780 for entry-level positions to $133,880 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Minneapolis-St. Paul-Bloomington, MN-WI is 25.8% higher than the national median of $58,860.
Is Minneapolis-St. Paul-Bloomington, MN-WI a lucrative place for Tax Preparers?
Yes, it is a lucrative place for Tax Preparers.The average salary of $74,060 is substantially higher than the national average, and the cost of living is at the national average, making it financially advantageous.
Is Minneapolis-St. Paul-Bloomington, MN-WI a good place to live for Tax Preparers?
The Cost of Living Index in Minneapolis-St. Paul-Bloomington, MN-WI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Minneapolis-St. Paul-Bloomington, MN-WI?
Some top paying nearby cities include Northwest Minnesota nonmetropolitan area ($62,970) and Southeast Minnesota nonmetropolitan area.
How does the Minneapolis-St. Paul-Bloomington salary compare to the national average?
The average salary for Tax Preparers in Minneapolis-St. Paul-Bloomington is $74,060, which is considerably higher than the national average of $58,860.
What is the Cost of Living in Minneapolis-St. Paul-Bloomington for Tax Preparers?
The Cost of Living Index in Minneapolis-St. Paul-Bloomington is 100, which is exactly the national average, meaning your salary has average purchasing power.
Is there high demand for Tax Preparers in Minneapolis-St. Paul-Bloomington?
With a Location Quotient slightly above the national average (1.08), the region shows a healthy concentration and likely stable demand for Tax Preparers.
How many Tax Preparers work in the Minneapolis-St. Paul-Bloomington area?
There are approximately 1,000 Tax Preparers employed within the Minneapolis-St. Paul-Bloomington 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 1,000 employees in the Minneapolis-St. Paul-Bloomington, MN-WI area with a job density of 0.517 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 Minneapolis-St. Paul-Bloomington, MN-WI