Tellers in New York earn an average annual salary of $43,810, which is notably higher than the national average of $40,940. This elevated compensation is often a reflection of New York's dynamic economic landscape and the higher operational costs associated with doing business in the state. The demand for financial service professionals, even in roles like Tellers, is influenced by the state's robust financial sector.
Executive Summary
- Average Salary: $43,810 per year.
- Growth Trend: Salaries have shifted 25.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $50,490.
- Outlook: With a substantial local workforce of 17,420 Tellers, New York demonstrates a significant presence in this occupational category. The Location Quotient of 0.83 suggests that while the concentration of Tellers is slightly below the national average, the sheer volume of jobs indicates a stable and consistent demand within the state's financial institutions. This robust workforce size points to a mature market with ongoing employment opportunities.
Tellers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that Tellers' salaries in New York have experienced steady growth over the past four years, mirroring broader economic trends and inflation. Financial institutions typically adjust compensation to remain competitive and account for the rising cost of living, ensuring that Tellers' earnings keep pace with market demands and employee expectations.
Tellers Salary Distribution in New York
The career path for Tellers typically involves incremental salary increases with accumulated experience. Entry-level positions may start closer to the lower end of the pay scale, while senior Tellers, with extensive knowledge of banking procedures, customer service, and potentially specialized financial products, command higher salaries. The difference in earnings between junior and senior roles signifies a clear progression and reward for developing expertise and responsibility.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $36,450 | $17.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $32,858 | $15.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $44,040 | $21.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $54,763 | $26.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $50,490 | $24.3 |
Detailed Tellers Market Analysis
Relocation Context
Nominal Salary
$43,810
Gross Pay
Real Wage (Purchasing Power)
$35,020
Adjusted for COL (125.1)
The nominal average salary of $43,810 in New York must be considered alongside its Cost of Living Index of 125.1. This index indicates that living expenses in New York are approximately 25.1% higher than the national average. Therefore, while the gross salary appears higher, the purchasing power of $43,810 in New York is effectively reduced when compared to areas with a lower cost of living.
Job Market Context
17,420
Total Jobs
1.826
Per 1K Jobs
0.83
Location Quotient
New York has 0.83x the national average concentration of Tellers jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
A Location Quotient of 0.83 for Tellers in New York suggests that the job market is slightly less concentrated with this profession compared to the national average. This implies that while Tellers are a vital part of the financial ecosystem, they are not disproportionately represented relative to other occupations when compared to the nation as a whole. The market is neither oversaturated nor exceptionally scarce, indicating a balanced demand and supply.
Nearby Job Markets
Nearby Cities for Tellers
| City | Salary | Dist. |
|---|---|---|
| Binghamton, NY Tellers Salary | $38,660↓ 12% | 49 mi |
| Kingston, NY Tellers Salary | $41,970↓ 4% | 51 mi |
| Scranton--Wilkes-Barre, PA Tellers Salary | $39,940↓ 9% | 64 mi |
| Utica-Rome, NY Tellers Salary | $39,530↓ 10% | 66 mi |
| Albany-Schenectady-Troy, NY Tellers Salary | $40,810↓ 7% | 68 mi |
Comparing salaries near New York
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Frequently Asked Questions
How much does a Tellers make in New York?
The median annual salary for a Tellers in New York is $43,810. This typically ranges from $36,450 for entry-level positions to $50,490 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in New York is 7.0% higher than the national median of $40,940.
Is New York a lucrative place for Tellers?
Yes, but with caveats.Tellers in New York earn above the national average salary, but the high cost of living significantly impacts the real value of their earnings.
Is New York a good place to live for Tellers?
The Cost of Living Index in New York is 125.1. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near New York?
Some top paying nearby cities include Binghamton, NY ($38,660) and Kingston, NY.
How does the number of Tellers jobs per 1,000 workers compare nationally?
New York has 1.826 Tellers jobs per 1,000 workers, which is slightly below the national average, indicating a moderate level of job availability relative to the overall workforce.
What is the significance of the Location Quotient for Tellers in New York?
A Location Quotient of 0.83 means that Tellers are slightly less concentrated in New York compared to the national average. This suggests a stable, but not overwhelmingly abundant, job market for this role.
How does the average Teller salary in New York compare to the national average?
The average annual salary for Tellers in New York is $43,810, which is higher than the national average of $40,940, offering a nominal pay advantage.
Does the high cost of living in New York affect the perceived value of a Teller's salary?
Yes, the Cost of Living Index of 125.1 means that expenses are significantly higher in New York, reducing the purchasing power of the $43,810 average salary compared to national averages.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 17,420 employees in the New York area with a job density of 1.826 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 New York