Average Tellers Salary in Cedar Rapids, IA
Tellers in Cedar Rapids, IA earn an average annual salary of $40,100. This figure is slightly below the national average of $40,940, a common occurrence in markets where local economic factors and demand dynamics influence compensation levels. The specific pay for Tellers in this region is shaped by the local job market's unique supply and demand equilibrium.
Executive Summary
- Average Salary: $40,100 per year.
- Growth Trend: Salaries have shifted 44.2% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $48,350.
- Outlook: Cedar Rapids, IA supports a dedicated workforce of 430 Tellers, indicating a stable presence in the local financial sector. With a Location Quotient of 1.39, Tellers are more concentrated in Cedar Rapids than the national average, suggesting a potentially robust demand for these services within the community. The rate of 3.055 jobs per 1,000 workers further underscores the consistent need for Tellers in the area.
Salary Overview
The average Tellers in Cedar Rapids, IA earns-2.1%below the national average.
$19.3
$771
$3,342
Tellers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that Tellers' salaries in Cedar Rapids have experienced gradual growth over the past four years, mirroring general economic trends and inflation adjustments. This consistent, albeit modest, upward trajectory is typical for established roles within stable local economies.
Tellers Salary Distribution in Cedar Rapids, IA
The salary progression for Tellers in Cedar Rapids typically scales with experience. Entry-level positions often start at the lower end of the pay scale, while seasoned professionals with extensive experience and specialized skills can command significantly higher salaries. The variance between entry-level and senior roles, often reflected in salary percentiles, highlights clear opportunities for career advancement and increased earning potential within the Teller profession.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $29,740 | $14.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $30,075 | $14.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $38,630 | $18.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $50,125 | $24.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $48,350 | $23.2 |
Detailed Tellers Market Analysis
Relocation Context
Nominal Salary
$40,100
Gross Pay
Real Wage (Purchasing Power)
$40,100
Adjusted for COL (100)
With an average annual salary of $40,100 and a Cost of Living Index of 100 (matching the national average), Tellers in Cedar Rapids find their nominal earnings align precisely with the cost of living. This means that the purchasing power of their salary is neither significantly enhanced nor diminished by the local cost of goods and services, offering a balanced financial environment.
Job Market Context
430
Total Jobs
3.055
Per 1K Jobs
1.39
Location Quotient
With a location quotient of 1.39, Cedar Rapids, IA has a slightly higher-than-average concentration of Tellers roles compared to the national norm.
The Location Quotient of 1.39 for Tellers in Cedar Rapids signifies a higher concentration of these roles compared to the national average. This suggests that the job market here is relatively more abundant in Teller positions, potentially leading to a competitive environment for job seekers but also indicating a strong local demand for financial service professionals.
Nearby Job Markets
Nearby Cities for Tellers
| City | Salary | Dist. |
|---|---|---|
| Iowa City, IA Tellers Salary | $42,170↑ 5% | 23 mi |
| Waterloo-Cedar Falls, IA Tellers Salary | $39,170↓ 2% | 50 mi |
| Dubuque, IA Tellers Salary | $39,780↓ 1% | 62 mi |
| Davenport-Moline-Rock Island, IA-IL Tellers Salary | $38,280↓ 5% | 62 mi |
| Southeast Iowa nonmetropolitan area Tellers Salary | $37,310↓ 7% | 79 mi |
Comparing salaries near Cedar Rapids, IA
Hiring Tellerss?
Frequently Asked Questions
How much does a Tellers make in Cedar Rapids, IA?
The median annual salary for a Tellers in Cedar Rapids, IA is $40,100. This typically ranges from $29,740 for entry-level positions to $48,350 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Cedar Rapids, IA is 2.1% lower than the national median of $40,940.
Is Cedar Rapids, IA a lucrative place for Tellers?
No, not significantly more lucrative than the national average.While Cedar Rapids has a higher concentration of Tellers, the average salary of $40,100 is slightly below the national average, and the cost of living is on par with the national average.
Is Cedar Rapids, IA a good place to live for Tellers?
The Cost of Living Index in Cedar Rapids, IA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Cedar Rapids, IA?
Some top paying nearby cities include Iowa City, IA ($42,170) and Waterloo-Cedar Falls, IA.
How does the Cedar Rapids Teller salary compare to the national average?
The average annual salary for Tellers in Cedar Rapids, IA is $40,100, which is slightly lower than the national average of $40,940.
What does a Location Quotient of 1.39 mean for Tellers in Cedar Rapids?
A Location Quotient of 1.39 indicates that Tellers are 39% more concentrated in Cedar Rapids than the national average, suggesting a stronger local presence and potentially higher demand for these roles.
How does the cost of living in Cedar Rapids affect Teller salaries?
With a Cost of Living Index of 100, Cedar Rapids' cost of living is exactly average. This means the $40,100 salary has average purchasing power, neither significantly boosted nor hindered by local expenses.
What is the total number of Tellers employed in Cedar Rapids?
There are approximately 430 Tellers employed in Cedar Rapids, IA, representing a notable segment of the local financial services workforce.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 430 employees in the Cedar Rapids, IA area with a job density of 3.055 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Tellers • Data source: BLS OEWS 2024 •Jobs in Cedar Rapids, IA