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Average Tax Preparers Salary in Minnesota

Tax Preparers in Minnesota earn a compelling average annual salary of $73,290, significantly outpacing the national average of $58,860. This elevated pay is likely influenced by a combination of factors specific to the state's economic landscape and demand for specialized financial services.

Executive Summary

  • Average Salary: $73,290 per year.
  • Growth Trend: Salaries have shifted 42.2% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $132,190.
  • Outlook: With a local workforce of 1,330 Tax Preparers and a Location Quotient of 0.95, Minnesota's job market for this profession is stable and closely mirrors national concentration levels. The presence of 0.454 jobs per 1,000 workers indicates a consistent, albeit not exceptionally high, demand for these essential financial services within the state.
2024 Market Data

Salary Overview

$73,290

The average Tax Preparers in Minnesota earns+24.5%above the national average.

BreakdownBased on 40h/week
Hourly

$35.2

Weekly

$1,409

Monthly

$6,108

Tax Preparers Salary Distribution in Minnesota

Salary progression for Tax Preparers in Minnesota is strongly tied to experience. Entry-level positions typically start at the lower end of the pay scale, while senior Tax Preparers with extensive experience and specialized knowledge can command significantly higher salaries. The widening gap between entry-level and senior-level earnings reflects the value placed on expertise and proven track records in the field.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$35,780$17.2
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$54,968$26.4
ManagerOversees team, compliance, and project delivery.50% (Median)$65,530$31.5
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$91,613$44
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$132,190$63.6

Detailed Tax Preparers Market Analysis

Relocation Context

Nominal Salary

$73,290

Gross Pay

Real Wage (Purchasing Power)

$77,638

Adjusted for COL (94.4)

The average annual salary of $73,290 in Minnesota presents a strong financial advantage when considering the local Cost of Living Index of 94.4. This index is below the national average of 100, meaning that the higher nominal income in Minnesota translates to greater purchasing power and a potentially higher standard of living compared to the national average.

Job Market Context

1,330

Total Jobs

0.454

Per 1K Jobs

0.95

Location Quotient

Below Average

Minnesota has 0.95x the national average concentration of Tax Preparers 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 0.95 suggests that the concentration of Tax Preparers in Minnesota is very close to the national average. This indicates a balanced job market where the supply of professionals aligns well with the demand, making it neither overly saturated nor exceptionally scarce for those seeking employment or hiring talent.

Nearby Job Markets

Nearby Cities for Tax Preparers

CitySalaryDist.
St. Cloud, MN Tax Preparers Salary$75,810↑ 3%17 mi
Minneapolis-St. Paul-Bloomington, MN-WI Tax Preparers Salary$74,060↑ 1%58 mi

Comparing salaries near Minnesota

Hiring Tax Preparerss?

Frequently Asked Questions

How much does a Tax Preparers make in Minnesota?

The median annual salary for a Tax Preparers in Minnesota is $73,290. This typically ranges from $35,780 for entry-level positions to $132,190 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Minnesota is 24.5% higher than the national median of $58,860.

Is Minnesota a lucrative place for Tax Preparers?

Yes, Minnesota offers a lucrative environment for Tax Preparers.The average salary significantly exceeds the national average, and the cost of living is below the national average, enhancing overall financial well-being.

Is Minnesota a good place to live for Tax Preparers?

With a Cost of Living Index of 94.4 (lower than the national average of 100), your salary goes further here.

Where are the highest paying cities near Minnesota?

Some top paying nearby cities include St. Cloud, MN ($75,810) and Minneapolis-St. Paul-Bloomington, MN-WI.

How does Minnesota's Tax Preparer salary compare to the national average?

Tax Preparers in Minnesota earn an average of $73,290 annually, which is considerably higher than the national average of $58,860.

What is the job market like for Tax Preparers in Minnesota?

The job market is stable, with a workforce size of 1,330 and a concentration (Location Quotient) very close to the national average, indicating balanced demand and supply.

Does the cost of living affect the value of a Tax Preparer's salary in Minnesota?

Yes, Minnesota's cost of living index of 94.4 is below the national average, meaning the higher salary of $73,290 provides greater purchasing power for residents.

How does experience impact a Tax Preparer's salary in Minnesota?

Experience is a key driver of salary growth, with senior Tax Preparers earning substantially more than entry-level professionals, reflecting increased expertise 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 1,330 employees in the Minnesota area with a job density of 0.454 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Tax Preparers • Data source: BLS OEWS 2024 •Jobs in Minnesota