Average Tellers Salary in Central Indiana nonmetropolitan area
Tellers in Central Indiana's nonmetropolitan area earn an average annual salary of $37,570. This figure is notably below the national average of $40,940, reflecting the economic dynamics and potentially lower demand for banking services in less urbanized regions. Factors such as the local economic structure and the cost of doing business in these areas often influence compensation levels.
Executive Summary
- Average Salary: $37,570 per year.
- Growth Trend: Salaries have shifted 23.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $44,580.
- Outlook: With a local workforce of 610 Tellers, Central Indiana's nonmetropolitan area demonstrates a stable, albeit niche, job market for this profession. The Location Quotient of 1.73 indicates a significantly higher concentration of Tellers compared to the national average, suggesting a robust local demand or a specialized regional focus on these roles within the financial sector.
Salary Overview
The average Tellers in Central Indiana nonmetropolitan area earns-8.2%below the national average.
$18.1
$723
$3,131
Tellers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that Teller salaries in Central Indiana's nonmetropolitan area have experienced gradual growth over the past four years, mirroring national trends of modest wage increases driven by inflation and evolving job responsibilities. This growth, however, may be tempered by the economic conditions specific to nonmetropolitan regions.
Tellers Salary Distribution in Central Indiana nonmetropolitan area
Career progression for Tellers typically involves a salary increase with experience. Entry-level positions often start at the lower end of the pay scale, while senior Tellers with extensive experience and specialized skills can command higher salaries. The percentile gaps in compensation signify the opportunities for advancement and increased earning potential as Tellers develop their expertise and take on more complex responsibilities.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $31,750 | $15.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $28,178 | $13.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $36,060 | $17.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $46,963 | $22.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $44,580 | $21.4 |
Detailed Tellers Market Analysis
Relocation Context
Nominal Salary
$37,570
Gross Pay
Real Wage (Purchasing Power)
$37,570
Adjusted for COL (100)
The nominal salary of $37,570 in Central Indiana's nonmetropolitan area aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that while the salary is lower than the national average, the purchasing power of that income is equivalent to the national standard, making the effective financial standing comparable.
Job Market Context
610
Total Jobs
3.813
Per 1K Jobs
1.73
Location Quotient
Central Indiana nonmetropolitan area has 1.7x the national concentration of Tellers jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
The Location Quotient of 1.73 for Tellers in Central Indiana's nonmetropolitan area signifies a market where this profession is more concentrated than the national average. This suggests a potentially competitive environment for job seekers, but also indicates a strong presence and established need for Teller services within the region's financial institutions.
Nearby Job Markets
Nearby Cities for Tellers
| City | Salary | Dist. |
|---|---|---|
| Indianapolis-Carmel-Greenwood, IN Tellers Salary | $41,490↑ 10% | 8 mi |
| Kokomo, IN Tellers Salary | $40,220↑ 7% | 43 mi |
| Columbus, IN Tellers Salary | $37,840↑ 1% | 48 mi |
| Bloomington, IN Tellers Salary | $38,810↑ 3% | 49 mi |
| Lafayette-West Lafayette, IN Tellers Salary | $38,270↑ 2% | 50 mi |
Comparing salaries near Central Indiana nonmetropolitan area
Hiring Tellerss?
Frequently Asked Questions
How much does a Tellers make in Central Indiana nonmetropolitan area?
The median annual salary for a Tellers in Central Indiana nonmetropolitan area is $37,570. This typically ranges from $31,750 for entry-level positions to $44,580 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Central Indiana nonmetropolitan area is 8.2% lower than the national median of $40,940.
Is Central Indiana nonmetropolitan area a lucrative place for Tellers?
No, not particularly lucrative compared to the national average.While the cost of living is average, the average Teller salary of $37,570 is below the national average of $40,940. The high concentration of Tellers (LQ of 1.73) suggests demand, but not necessarily higher pay.
Is Central Indiana nonmetropolitan area a good place to live for Tellers?
The Cost of Living Index in Central Indiana nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Central Indiana nonmetropolitan area?
Some top paying nearby cities include Indianapolis-Carmel-Greenwood, IN ($41,490) and Kokomo, IN.
How does the Teller salary in Central Indiana compare to the national average?
The average annual salary for Tellers in Central Indiana's nonmetropolitan area is $37,570, which is lower than the national average of $40,940.
What does the Location Quotient (LQ) of 1.73 mean for Tellers in this area?
An LQ of 1.73 indicates that Tellers are 73% more concentrated in Central Indiana's nonmetropolitan area than in the nation as a whole, suggesting a higher prevalence of these roles locally.
How does the cost of living affect the Teller salary in this region?
With a Cost of Living Index of 100, the local cost of living is on par with the national average. Therefore, the lower nominal salary translates to a comparable purchasing power to the national average.
What is the total number of Tellers in Central Indiana's nonmetropolitan area?
There are approximately 610 Tellers employed in the Central Indiana nonmetropolitan area, representing 3.813 jobs per 1,000 workers.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 610 employees in the Central Indiana nonmetropolitan area area with a job density of 3.813 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 Central Indiana nonmetropolitan area