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Average Tellers Salary in Iowa City, IA

Tellers in Iowa City, IA, earn an average annual salary of $42,170, which is notably higher than the national average of $40,940. This localized premium is often influenced by specific regional economic factors and the demand within the Iowa City financial sector. The concentration of financial institutions and the overall economic health of the area play a significant role in determining compensation for these essential roles.

Executive Summary

  • Average Salary: $42,170 per year.
  • Growth Trend: Salaries have shifted 42.6% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $55,120.
  • Outlook: With a local workforce of 240 Tellers and a Location Quotient of 1.17, Iowa City demonstrates a slightly higher concentration of these professionals compared to the national average. This suggests a stable, and potentially growing, demand for Tellers within the region, indicating a robust job market that supports current employment levels and offers potential for future opportunities.
2024 Market Data

Salary Overview

$42,170

The average Tellers in Iowa City, IA earns+3.0%above the national average.

BreakdownBased on 40h/week
Hourly

$20.3

Weekly

$811

Monthly

$3,514

Tellers Salary Distribution in Iowa City, IA

Career progression for Tellers in Iowa City, as elsewhere, typically involves a salary increase with experience. Entry-level positions will likely fall at the lower end of the pay scale, while senior Tellers with extensive experience and specialized skills can command significantly higher salaries, often reflected in the upper percentiles of the salary distribution.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$35,790$17.2
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$31,628$15.2
ManagerOversees team, compliance, and project delivery.50% (Median)$39,470$19
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$52,713$25.3
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$55,120$26.5

Detailed Tellers Market Analysis

Relocation Context

Nominal Salary

$42,170

Gross Pay

Real Wage (Purchasing Power)

$42,170

Adjusted for COL (100)

The average annual salary of $42,170 in Iowa City aligns perfectly with the local Cost of Living Index of 100, which represents the national average. This means that the purchasing power of a Teller's salary in Iowa City is equivalent to the national average, offering a stable financial environment for residents.

Job Market Context

240

Total Jobs

2.582

Per 1K Jobs

1.17

Location Quotient

Above Average

With a location quotient of 1.17, Iowa City, IA has a slightly higher-than-average concentration of Tellers roles compared to the national norm.

The Location Quotient of 1.17 indicates that Tellers are 17% more concentrated in Iowa City than the national average. This suggests a healthy and slightly more competitive market for Teller positions, implying that employers may actively seek out qualified candidates, while also offering a good number of opportunities for those entering or established in the profession.

Nearby Job Markets

Nearby Cities for Tellers

CitySalaryDist.
Cedar Rapids, IA Tellers Salary$40,100↓ 5%23 mi
Davenport-Moline-Rock Island, IA-IL Tellers Salary$38,280↓ 9%48 mi
Waterloo-Cedar Falls, IA Tellers Salary$39,170↓ 7%72 mi
Dubuque, IA Tellers Salary$39,780↓ 6%72 mi
Southeast Iowa nonmetropolitan area Tellers Salary$37,310↓ 12%90 mi

Comparing salaries near Iowa City, IA

Hiring Tellerss?

Frequently Asked Questions

How much does a Tellers make in Iowa City, IA?

The median annual salary for a Tellers in Iowa City, IA is $42,170. This typically ranges from $35,790 for entry-level positions to $55,120 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Iowa City, IA is 3.0% higher than the national median of $40,940.

Is Iowa City, IA a lucrative place for Tellers?

Yes, Iowa City offers a slightly above-average earning potential for Tellers.Tellers in Iowa City earn more than the national average, and the cost of living is on par with the national average, making it a financially stable location for this profession.

Is Iowa City, IA a good place to live for Tellers?

The Cost of Living Index in Iowa City, IA is 100. While higher than average, this often correlates with higher wages.

Where are the highest paying cities near Iowa City, IA?

Some top paying nearby cities include Cedar Rapids, IA ($40,100) and Davenport-Moline-Rock Island, IA-IL.

How does the Iowa City Teller salary compare to the national average?

The average annual salary for Tellers in Iowa City is $42,170, which is approximately $1,230 higher than the national average of $40,940.

What is the significance of the Location Quotient (LQ) for Tellers in Iowa City?

An LQ of 1.17 means that Tellers are more concentrated in Iowa City than the national average, indicating a slightly higher demand or a larger pool of these professionals relative to other occupations in the area.

Does the cost of living in Iowa City affect the value of a Teller's salary?

No, the cost of living in Iowa City is exactly at the national average (100), meaning the $42,170 salary has the same purchasing power as the national average salary.

What does the total local workforce number suggest about the Teller job market in Iowa City?

With 240 Tellers employed locally, it indicates a substantial presence of this role within the Iowa City financial sector, suggesting consistent employment opportunities.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 240 employees in the Iowa City, IA area with a job density of 2.582 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Tellers • Data source: BLS OEWS 2024 •Jobs in Iowa City, IA