Average Tellers Salary in Northern Michigan nonmetropolitan area
In the Northern Michigan nonmetropolitan area, Tellers earn an average annual salary of $36,980. This figure is notably below the national average of $40,940, reflecting the unique economic landscape and potentially lower cost of doing business in more rural regions. Local demand and the specific financial sector needs of the community play a significant role in shaping compensation for these essential banking professionals.
Executive Summary
- Average Salary: $36,980 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $44,800.
- Outlook: With a local workforce of 450 Tellers and a Location Quotient of 1.74, the job market in Northern Michigan indicates a concentration of these roles significantly above the national average. This suggests a robust demand for Tellers relative to the general workforce, implying a stable employment outlook for individuals in this profession within the region.
Salary Overview
The average Tellers in Northern Michigan nonmetropolitan area earns-9.7%below the national average.
$17.8
$711
$3,082
Tellers Salary Trends (2020-2024)
While specific historical data for this nonmetropolitan area is not provided, it's reasonable to assume that Teller salaries in Northern Michigan have experienced gradual growth over the past four years, mirroring national trends. Economic shifts, inflation, and evolving banking needs likely contribute to incremental increases in compensation, aiming to keep pace with the cost of living and retain skilled personnel.
Tellers Salary Distribution in Northern Michigan nonmetropolitan area
Career progression for Tellers typically involves a salary increase with experience. Entry-level positions may start at the lower end of the pay scale, while senior Tellers with extensive knowledge of financial products, customer service expertise, and potentially supervisory responsibilities can command higher salaries. The percentile gaps in earnings signify clear opportunities for advancement and increased earning potential as one gains experience.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $31,110 | $15 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $27,735 | $13.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $35,610 | $17.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $46,225 | $22.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $44,800 | $21.5 |
Detailed Tellers Market Analysis
Relocation Context
Nominal Salary
$36,980
Gross Pay
Real Wage (Purchasing Power)
$36,980
Adjusted for COL (100)
The average annual salary of $36,980 in Northern Michigan aligns precisely with the national average Cost of Living Index of 100. This means that while the nominal salary is lower than the national average, the purchasing power of that income is likely comparable to what a Teller might experience in a national average cost-of-living area. Therefore, the salary offers a standard level of affordability within the local context.
Job Market Context
450
Total Jobs
3.827
Per 1K Jobs
1.74
Location Quotient
Northern Michigan nonmetropolitan area has 1.7x the national concentration of Tellers jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
A Location Quotient of 1.74 for Tellers in Northern Michigan nonmetropolitan area signifies a job market where this profession is 74% more concentrated than the national average. This indicates a higher relative demand and a more established presence of Teller roles within the local economy compared to other occupations, suggesting a competitive but potentially abundant market for qualified individuals.
Nearby Job Markets
Nearby Cities for Tellers
| City | Salary | Dist. |
|---|---|---|
| Midland, MI Tellers Salary | $42,580↑ 15% | 26 mi |
| Saginaw, MI Tellers Salary | $37,180↑ 1% | 30 mi |
| Bay City, MI Tellers Salary | $34,750↓ 6% | 37 mi |
| Lansing-East Lansing, MI Tellers Salary | $38,900↑ 5% | 42 mi |
| Flint, MI Tellers Salary | $39,440↑ 7% | 47 mi |
Comparing salaries near Northern Michigan nonmetropolitan area
Hiring Tellerss?
Frequently Asked Questions
How much does a Tellers make in Northern Michigan nonmetropolitan area?
The median annual salary for a Tellers in Northern Michigan nonmetropolitan area is $36,980. This typically ranges from $31,110 for entry-level positions to $44,800 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Northern Michigan nonmetropolitan area is 9.7% lower than the national median of $40,940.
Is Northern Michigan nonmetropolitan area a lucrative place for Tellers?
No, not in terms of nominal salary compared to the national average.While the cost of living is average, the nominal salary for Tellers is below the national average. However, the high concentration of roles suggests stable employment opportunities.
Is Northern Michigan nonmetropolitan area a good place to live for Tellers?
The Cost of Living Index in Northern Michigan nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Northern Michigan nonmetropolitan area?
Some top paying nearby cities include Midland, MI ($42,580) and Saginaw, MI.
How does the Teller salary in Northern Michigan compare to the national average?
The average annual salary for Tellers in Northern Michigan is $36,980, which is $3,960 less than the national average of $40,940.
What does the Location Quotient of 1.74 mean for Teller jobs?
A Location Quotient of 1.74 indicates that Teller jobs are 74% more concentrated in Northern Michigan compared to the national average, suggesting a stronger local demand for these roles.
How does the Cost of Living in Northern Michigan affect the Teller salary?
With a Cost of Living Index of 100 (matching the national average), the $36,980 salary offers average purchasing power locally, meaning the lower nominal wage is offset by average living expenses.
What is the total number of Tellers in Northern Michigan?
There are approximately 450 Tellers employed in the Northern Michigan nonmetropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 450 employees in the Northern Michigan nonmetropolitan area area with a job density of 3.827 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 Northern Michigan nonmetropolitan area