Average Tellers Salary in Montgomery, AL
Tellers in Montgomery, AL earn an average annual salary of $37,470, which is slightly below the national average of $40,940. This localized pay rate is influenced by various economic factors specific to the Montgomery metropolitan area, including regional demand for financial services and the overall economic landscape of Alabama. Understanding these local dynamics is key to grasping the compensation structure for this vital banking role.
Executive Summary
- Average Salary: $37,470 per year.
- Growth Trend: Salaries have shifted 17.2% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $46,050.
- Outlook: Montgomery's Teller job market shows a notable concentration, with a Location Quotient of 1.41, indicating a higher presence of Tellers relative to the national average. Supporting a local workforce of 510 individuals, this suggests a stable demand for these professionals within the area. The rate of 3.114 jobs per 1,000 workers further underscores the consistent need for Tellers in Montgomery's financial sector.
Salary Overview
The average Tellers in Montgomery, AL earns-8.5%below the national average.
$18
$721
$3,123
Tellers Salary Trends (2020-2024)
While specific historical data for Montgomery Tellers isn't provided, it's reasonable to assume a general upward trend in salaries over the past four years, mirroring national economic patterns. Factors such as inflation, evolving banking technologies, and increased demand for customer service professionals likely contribute to modest annual salary growth for Tellers across the United States, a trend that would typically extend to local markets like Montgomery.
Tellers Salary Distribution in Montgomery, AL
The salary trajectory for Tellers in Montgomery, AL, typically scales with experience. Entry-level positions often start at the lower end of the pay scale, while seasoned professionals with several years of experience and specialized skills can command significantly higher salaries. The percentile gaps between junior and senior roles reflect the career progression and increased responsibilities that come with advancing in the Teller profession.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $30,020 | $14.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $28,103 | $13.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $35,920 | $17.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $46,838 | $22.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $46,050 | $22.1 |
Detailed Tellers Market Analysis
Relocation Context
Nominal Salary
$37,470
Gross Pay
Real Wage (Purchasing Power)
$37,470
Adjusted for COL (100)
With an average annual salary of $37,470 and a Cost of Living Index of 100, Tellers in Montgomery, AL, find their nominal earnings align precisely with the national average cost of living. This means that while the salary might appear lower than the national average, the purchasing power of that income is effectively on par with what a Teller might experience in a typical U.S. city, making Montgomery a financially neutral location in terms of cost of living relative to salary.
Job Market Context
510
Total Jobs
3.114
Per 1K Jobs
1.41
Location Quotient
With a location quotient of 1.41, Montgomery, AL has a slightly higher-than-average concentration of Tellers roles compared to the national norm.
The Location Quotient of 1.41 for Tellers in Montgomery, AL, signifies a market where this profession is more concentrated than the national average. This suggests a potentially robust job market with a steady demand for Tellers, possibly due to a higher density of financial institutions or a greater reliance on in-person banking services within the local economy. While not necessarily indicating intense competition, it points to a healthy and established presence of Teller roles.
Nearby Job Markets
Nearby Cities for Tellers
| City | Salary | Dist. |
|---|---|---|
| Northeast Alabama nonmetropolitan area Tellers Salary | $34,810↓ 7% | 44 mi |
| Southeast Alabama nonmetropolitan area Tellers Salary | $33,610↓ 10% | 44 mi |
| Northwest Alabama nonmetropolitan area Tellers Salary | $32,770↓ 13% | 44 mi |
| Southwest Alabama nonmetropolitan area Tellers Salary | $33,820↓ 10% | 44 mi |
| Auburn-Opelika, AL Tellers Salary | $37,780↑ 1% | 49 mi |
Comparing salaries near Montgomery, AL
Hiring Tellerss?
Frequently Asked Questions
How much does a Tellers make in Montgomery, AL?
The median annual salary for a Tellers in Montgomery, AL is $37,470. This typically ranges from $30,020 for entry-level positions to $46,050 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Montgomery, AL is 8.5% lower than the national median of $40,940.
Is Montgomery, AL a lucrative place for Tellers?
No, but it offers average purchasing power.While the average salary of $37,470 is below the national average, the Cost of Living Index of 100 means that the purchasing power of this salary is comparable to the national average. The higher concentration of Tellers (LQ 1.41) suggests stable demand rather than exceptionally high pay.
Is Montgomery, AL a good place to live for Tellers?
The Cost of Living Index in Montgomery, AL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Montgomery, AL?
Some top paying nearby cities include Northeast Alabama nonmetropolitan area ($34,810) and Southeast Alabama nonmetropolitan area.
How does Montgomery's Teller salary compare to the national average?
Tellers in Montgomery, AL, earn an average of $37,470 annually, which is approximately $3,470 less than the national average of $40,940.
What is the concentration of Tellers in Montgomery, AL?
Montgomery, AL has a Location Quotient of 1.41 for Tellers, indicating that the profession is 41% more concentrated in this area compared to the national average.
How does the cost of living in Montgomery affect Teller salaries?
Montgomery's Cost of Living Index is 100, which is the national average. This means the $37,470 salary offers purchasing power equivalent to the national average, despite being below the national salary average.
What is the total number of Tellers employed in Montgomery, AL?
There are approximately 510 Tellers employed in Montgomery, AL, representing 3.114 jobs per 1,000 workers in the local workforce.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 510 employees in the Montgomery, AL area with a job density of 3.114 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 Montgomery, AL