Average Tellers Salary in Lansing-East Lansing, MI
In Lansing-East Lansing, MI, Tellers earn an average annual salary of $38,900. This figure is slightly below the national average of $40,940, indicating localized economic factors and demand specific to the Michigan capital region influence compensation. The cost of living in Lansing-East Lansing is right at the national average, making this salary competitive within its immediate economic context.
Executive Summary
- Average Salary: $38,900 per year.
- Growth Trend: Salaries have shifted 15.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $46,630.
- Outlook: The Lansing-East Lansing area supports a dedicated workforce of 580 Tellers, with a Location Quotient of 1.23. This suggests a slightly higher concentration of Teller positions relative to the national average, implying a stable and potentially growing demand for these financial service professionals within the region.
Salary Overview
The average Tellers in Lansing-East Lansing, MI earns-5.0%below the national average.
$18.7
$748
$3,242
Tellers Salary Trends (2020-2024)
While specific historical data isn't provided, it's reasonable to assume that salaries for Tellers in Lansing-East Lansing have seen gradual growth over the past four years, mirroring national trends. Economic shifts and evolving banking needs likely contribute to incremental increases in compensation for these essential roles.
Tellers Salary Distribution in Lansing-East Lansing, MI
Salary progression for Tellers in Lansing-East Lansing typically correlates 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 significantly higher salaries, reflecting increased responsibility and expertise.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $32,860 | $15.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $29,175 | $14 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $37,450 | $18 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $48,625 | $23.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $46,630 | $22.4 |
Detailed Tellers Market Analysis
Relocation Context
Nominal Salary
$38,900
Gross Pay
Real Wage (Purchasing Power)
$38,900
Adjusted for COL (100)
With an average annual salary of $38,900 and a Cost of Living Index of 100, Tellers in Lansing-East Lansing find their nominal earnings align directly with the national average cost of living. This means the purchasing power of their salary is comparable to that of Tellers in other regions across the United States.
Job Market Context
580
Total Jobs
2.701
Per 1K Jobs
1.23
Location Quotient
With a location quotient of 1.23, Lansing-East Lansing, MI has a slightly higher-than-average concentration of Tellers roles compared to the national norm.
The Location Quotient of 1.23 for Tellers in Lansing-East Lansing indicates that the job market here is slightly more concentrated than the national average. This suggests a healthy demand for Teller services, potentially offering more opportunities and a competitive environment for both job seekers and employers.
Nearby Job Markets
Nearby Cities for Tellers
| City | Salary | Dist. |
|---|---|---|
| Jackson, MI Tellers Salary | $38,570↓ 1% | 34 mi |
| Mid Michigan nonmetropolitan area Tellers Salary | $37,070↓ 5% | 42 mi |
| Southern Michigan nonmetropolitan area Tellers Salary | $37,630↓ 3% | 42 mi |
| Northern Michigan nonmetropolitan area Tellers Salary | $36,980↓ 5% | 42 mi |
| Upper Peninsula of Michigan nonmetropolitan area Tellers Salary | $37,090↓ 5% | 42 mi |
Comparing salaries near Lansing-East Lansing, MI
Hiring Tellerss?
Frequently Asked Questions
How much does a Tellers make in Lansing-East Lansing, MI?
The median annual salary for a Tellers in Lansing-East Lansing, MI is $38,900. This typically ranges from $32,860 for entry-level positions to $46,630 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Lansing-East Lansing, MI is 5.0% lower than the national median of $40,940.
Is Lansing-East Lansing, MI a lucrative place for Tellers?
No, not significantly more lucrative than the national average.While the salary is competitive within the local cost of living, the average Teller salary of $38,900 is slightly below the national average of $40,940.
Is Lansing-East Lansing, MI a good place to live for Tellers?
The Cost of Living Index in Lansing-East Lansing, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Lansing-East Lansing, MI?
Some top paying nearby cities include Jackson, MI ($38,570) and Mid Michigan nonmetropolitan area.
How does the Lansing-East Lansing Teller salary compare to the national average?
The average annual salary for Tellers in Lansing-East Lansing, MI is $38,900, which is approximately $2,040 less than the national average of $40,940.
What is the concentration of Tellers in Lansing-East Lansing compared to the rest of the country?
Lansing-East Lansing has a Location Quotient of 1.23 for Tellers, meaning the area has about 23% more Tellers per worker than the national average, indicating a slightly higher concentration.
How does the cost of living in Lansing-East Lansing affect the Teller salary?
The Cost of Living Index in Lansing-East Lansing is 100, which is the national average. This means the $38,900 salary has purchasing power equivalent to the national average, making it neither exceptionally high nor low in real terms.
What is the total number of Tellers in the Lansing-East Lansing workforce?
There are approximately 580 Tellers employed within the Lansing-East Lansing, MI metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 580 employees in the Lansing-East Lansing, MI area with a job density of 2.701 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 Lansing-East Lansing, MI