Average Tellers Salary in Grand Rapids-Wyoming-Kentwood, MI
In Grand Rapids-Wyoming-Kentwood, MI, Tellers earn an average annual salary of $39,470. This figure is slightly below the national average of $40,940, suggesting localized economic factors and demand play a significant role in compensation within this metropolitan area. The specific pay scales are influenced by the unique economic landscape and the concentration of financial institutions in the region.
Executive Summary
- Average Salary: $39,470 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $47,760.
- Outlook: The Grand Rapids-Wyoming-Kentwood, MI area supports a substantial workforce of 1,670 Tellers, indicating a robust local market for these professionals. With a Location Quotient of 1.35, the concentration of Teller positions is notably higher than the national average, signaling strong demand and potentially more job opportunities compared to other regions.
Salary Overview
The average Tellers in Grand Rapids-Wyoming-Kentwood, MI earns-3.6%below the national average.
$19
$759
$3,289
Tellers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Tellers in Grand Rapids-Wyoming-Kentwood, MI have experienced gradual growth over the past four years, mirroring national trends. Economic expansion, inflation, and evolving banking technologies likely contribute to incremental increases in compensation for these essential financial service roles.
Tellers Salary Distribution in Grand Rapids-Wyoming-Kentwood, MI
Career progression for Tellers in Grand Rapids-Wyoming-Kentwood, MI typically involves salary increases with accumulated experience. Entry-level positions may start at the lower end of the pay scale, while senior Tellers with extensive knowledge and customer service expertise can command significantly higher salaries, with percentile gaps reflecting this valuable experience.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $35,580 | $17.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $29,603 | $14.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $37,150 | $17.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $49,338 | $23.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $47,760 | $23 |
Detailed Tellers Market Analysis
Relocation Context
Nominal Salary
$39,470
Gross Pay
Real Wage (Purchasing Power)
$39,470
Adjusted for COL (100)
The average annual salary of $39,470 in Grand Rapids-Wyoming-Kentwood, MI aligns precisely with the national average Cost of Living Index of 100. This means that the purchasing power of a Teller's salary in this area is comparable to the national average, offering a stable financial environment for residents.
Job Market Context
1,670
Total Jobs
2.979
Per 1K Jobs
1.35
Location Quotient
With a location quotient of 1.35, Grand Rapids-Wyoming-Kentwood, MI has a slightly higher-than-average concentration of Tellers roles compared to the national norm.
The Location Quotient of 1.35 for Tellers in Grand Rapids-Wyoming-Kentwood, MI indicates a higher concentration of these roles than the national average. This suggests that the job market here is more favorable for Tellers, with potentially greater demand and a more competitive environment for employers seeking qualified candidates.
Nearby Job Markets
Nearby Cities for Tellers
| City | Salary | Dist. |
|---|---|---|
| Muskegon-Norton Shores, MI Tellers Salary | $37,300↓ 5% | 35 mi |
| Kalamazoo-Portage, MI Tellers Salary | $37,900↓ 4% | 48 mi |
| Battle Creek, MI Tellers Salary | $36,540↓ 7% | 51 mi |
| Lansing-East Lansing, MI Tellers Salary | $38,900↓ 1% | 58 mi |
| Mid Michigan nonmetropolitan area Tellers Salary | $37,070↓ 6% | 62 mi |
Comparing salaries near Grand Rapids-Wyoming-Kentwood, MI
Hiring Tellerss?
Frequently Asked Questions
How much does a Tellers make in Grand Rapids-Wyoming-Kentwood, MI?
The median annual salary for a Tellers in Grand Rapids-Wyoming-Kentwood, MI is $39,470. This typically ranges from $35,580 for entry-level positions to $47,760 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Grand Rapids-Wyoming-Kentwood, MI is 3.6% lower than the national median of $40,940.
Is Grand Rapids-Wyoming-Kentwood, MI a lucrative place for Tellers?
Yes, it offers competitive compensation relative to the cost of living.While the average salary is slightly below the national average, the Cost of Living Index is also at the national average, making the effective earning potential comparable. The higher Location Quotient also suggests strong local demand.
Is Grand Rapids-Wyoming-Kentwood, MI a good place to live for Tellers?
The Cost of Living Index in Grand Rapids-Wyoming-Kentwood, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Grand Rapids-Wyoming-Kentwood, MI?
Some top paying nearby cities include Muskegon-Norton Shores, MI ($37,300) and Kalamazoo-Portage, MI.
How does the Grand Rapids-Wyoming-Kentwood, MI Teller salary compare to the national average?
Tellers in Grand Rapids-Wyoming-Kentwood, MI earn an average of $39,470 annually, which is slightly less than the national average of $40,940.
What is the significance of the Location Quotient (LQ) for Tellers in this area?
An LQ of 1.35 means that Grand Rapids-Wyoming-Kentwood, MI has 35% more Tellers per worker than the national average, indicating a higher concentration and potentially stronger demand for these roles locally.
How does the Cost of Living affect the Teller salary in Grand Rapids-Wyoming-Kentwood, MI?
With a Cost of Living Index of 100, the national average, the $39,470 salary in Grand Rapids-Wyoming-Kentwood, MI offers purchasing power equivalent to the national average, making it a balanced financial proposition.
What is the total number of Tellers employed in the Grand Rapids-Wyoming-Kentwood, MI area?
There are approximately 1,670 Tellers employed within the Grand Rapids-Wyoming-Kentwood, MI metropolitan area, reflecting a significant local workforce in this profession.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,670 employees in the Grand Rapids-Wyoming-Kentwood, MI area with a job density of 2.979 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 Grand Rapids-Wyoming-Kentwood, MI