Average Tellers Salary in Elkhart-Goshen, IN
In Elkhart-Goshen, Indiana, Tellers earn an average annual salary of $40,730. This figure is remarkably close to the national average of $40,940, indicating a stable pay structure within the region. Local economic factors and the specific demand for banking services in Elkhart-Goshen likely contribute to this alignment with national compensation trends.
Executive Summary
- Average Salary: $40,730 per year.
- Growth Trend: Salaries have shifted 35.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $48,520.
- Outlook: The Elkhart-Goshen area supports a local workforce of 290 Tellers, with 2.254 jobs per 1,000 workers. This concentration, reflected in a Location Quotient of 1.02, suggests a market demand for Tellers that is slightly above the national average. While not indicative of explosive growth, this stable presence points to a consistent need for these financial professionals within the local economy.
Salary Overview
The average Tellers in Elkhart-Goshen, IN earns-0.5%below the national average.
$19.6
$783
$3,394
Tellers Salary Trends (2020-2024)
While specific historical data for Tellers in Elkhart-Goshen is not provided, it is reasonable to assume a general trend of salary growth over the past four years, mirroring national patterns in the financial sector. Economic shifts, inflation, and evolving banking technologies typically drive incremental increases in compensation for roles like Tellers, ensuring their pay remains competitive.
Tellers Salary Distribution in Elkhart-Goshen, IN
Career progression for Tellers in Elkhart-Goshen, as elsewhere, typically involves a salary increase with experience. Entry-level positions may start closer to the lower end of the pay scale, while seasoned professionals with extensive knowledge of banking procedures and customer service can command salaries significantly higher than the average. The gap between entry-level and senior Tellers' salaries reflects the value placed on expertise and tenure.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $35,510 | $17.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $30,548 | $14.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $37,460 | $18 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $50,913 | $24.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $48,520 | $23.3 |
Detailed Tellers Market Analysis
Relocation Context
Nominal Salary
$40,730
Gross Pay
Real Wage (Purchasing Power)
$40,730
Adjusted for COL (100)
The average annual salary of $40,730 in Elkhart-Goshen, IN, aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of a Teller's salary in this region is equivalent to the national standard. Consequently, the nominal salary translates directly into a comparable standard of living when compared to the rest of the United States.
Job Market Context
290
Total Jobs
2.254
Per 1K Jobs
1.02
Location Quotient
With a location quotient of 1.02, Elkhart-Goshen, IN has a slightly higher-than-average concentration of Tellers roles compared to the national norm.
With a Location Quotient of 1.02, the Elkhart-Goshen market exhibits a concentration of Teller positions that is just slightly higher than the national average. This indicates a healthy, stable job market for Tellers, where demand is consistent with, or marginally exceeds, the national distribution of these roles. It suggests a competitive but accessible environment for individuals seeking employment as Tellers in the area.
Nearby Job Markets
Nearby Cities for Tellers
| City | Salary | Dist. |
|---|---|---|
| South Bend-Mishawaka, IN-MI Tellers Salary | $39,570↓ 3% | 16 mi |
| Niles, MI Tellers Salary | $38,570↓ 5% | 18 mi |
| Kalamazoo-Portage, MI Tellers Salary | $37,900↓ 7% | 45 mi |
| Michigan City-La Porte, IN Tellers Salary | $38,000↓ 7% | 47 mi |
| Battle Creek, MI Tellers Salary | $36,540↓ 10% | 56 mi |
Comparing salaries near Elkhart-Goshen, IN
Hiring Tellerss?
Frequently Asked Questions
How much does a Tellers make in Elkhart-Goshen, IN?
The median annual salary for a Tellers in Elkhart-Goshen, IN is $40,730. This typically ranges from $35,510 for entry-level positions to $48,520 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Elkhart-Goshen, IN is 0.5% lower than the national median of $40,940.
Is Elkhart-Goshen, IN a lucrative place for Tellers?
Yes, it offers competitive compensation relative to the cost of living.Tellers in Elkhart-Goshen earn an average of $40,730, which is on par with the national average. Coupled with a Cost of Living Index of 100, this salary provides a standard of living equivalent to the national average, making it a stable and reasonable location for the profession.
Is Elkhart-Goshen, IN a good place to live for Tellers?
The Cost of Living Index in Elkhart-Goshen, IN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Elkhart-Goshen, IN?
Some top paying nearby cities include South Bend-Mishawaka, IN-MI ($39,570) and Niles, MI.
How does the Elkhart-Goshen Teller salary compare to the national average?
The average annual salary for Tellers in Elkhart-Goshen, IN is $40,730, which is very close to the national average of $40,940.
What is the Cost of Living in Elkhart-Goshen, IN?
Elkhart-Goshen, IN has a Cost of Living Index of 100, which is exactly the national average.
How concentrated are Teller jobs in Elkhart-Goshen, IN?
The concentration of Teller jobs in Elkhart-Goshen, IN, measured by the Location Quotient, is 1.02, indicating a slightly higher presence than the national average.
What is the total number of Tellers in Elkhart-Goshen, IN?
There are approximately 290 Tellers employed in the Elkhart-Goshen, IN area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 290 employees in the Elkhart-Goshen, IN area with a job density of 2.254 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 Elkhart-Goshen, IN