Average Tellers Salary in Northwest Minnesota nonmetropolitan area
Tellers in the Northwest Minnesota nonmetropolitan area earn an average annual salary of $40,110. This figure is slightly below the national average of $40,940, a difference often attributed to the unique economic drivers and lower population density characteristic of nonmetropolitan regions. Local demand and the specific financial service needs of the community play a significant role in shaping compensation for these essential banking professionals.
Executive Summary
- Average Salary: $40,110 per year.
- Growth Trend: Salaries have shifted 24.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $46,080.
- Outlook: The job market for Tellers in Northwest Minnesota appears stable, with a total local workforce of 650 individuals in this role. The Location Quotient of 1.53 indicates a concentration of Teller positions that is 53% higher than the national average, suggesting a relatively robust demand within this specific geographic area compared to national trends.
Salary Overview
The average Tellers in Northwest Minnesota nonmetropolitan area earns-2.0%below the national average.
$19.3
$771
$3,343
Tellers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that Teller salaries in Northwest Minnesota have experienced gradual growth over the past four years, mirroring broader economic trends and inflation adjustments. This consistent, albeit potentially modest, upward trajectory is typical for established roles within regional economies.
Tellers Salary Distribution in Northwest Minnesota nonmetropolitan area
Career progression for Tellers typically involves moving from entry-level positions to more senior roles, with corresponding salary increases. While specific percentile data isn't available, the gap between starting and senior Teller salaries generally signifies increased responsibility, customer service expertise, and potentially supervisory duties, reflecting a clear path for career advancement and higher earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $36,300 | $17.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $30,083 | $14.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $38,220 | $18.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $50,138 | $24.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $46,080 | $22.2 |
Detailed Tellers Market Analysis
Relocation Context
Nominal Salary
$40,110
Gross Pay
Real Wage (Purchasing Power)
$40,110
Adjusted for COL (100)
The average annual salary of $40,110 in Northwest Minnesota aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of a Teller's salary in this region is equivalent to the national average, indicating that the nominal earnings provide a comparable standard of living to that experienced across the United States.
Job Market Context
650
Total Jobs
3.377
Per 1K Jobs
1.53
Location Quotient
Northwest Minnesota nonmetropolitan area has 1.5x 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.
With a Location Quotient of 1.53, Northwest Minnesota exhibits a notable concentration of Teller positions relative to the national average. This suggests that the demand for Tellers in this nonmetropolitan area is higher than what might be expected based on its population size, indicating a potentially competitive market for qualified candidates or a strong reliance on these roles within the local financial sector.
Nearby Job Markets
Nearby Cities for Tellers
| City | Salary | Dist. |
|---|---|---|
| St. Cloud, MN Tellers Salary | $40,940↑ 2% | 17 mi |
| Minneapolis-St. Paul-Bloomington, MN-WI Tellers Salary | $43,000↑ 7% | 58 mi |
Comparing salaries near Northwest Minnesota nonmetropolitan area
Hiring Tellerss?
Frequently Asked Questions
How much does a Tellers make in Northwest Minnesota nonmetropolitan area?
The median annual salary for a Tellers in Northwest Minnesota nonmetropolitan area is $40,110. This typically ranges from $36,300 for entry-level positions to $46,080 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Northwest Minnesota nonmetropolitan area is 2.0% lower than the national median of $40,940.
Is Northwest Minnesota nonmetropolitan area a lucrative place for Tellers?
Moderately. The salary is on par with the national average, but the cost of living is also average.Tellers in Northwest Minnesota earn $40,110, very close to the national average. Coupled with a Cost of Living Index of 100, the salary offers average purchasing power, making it a stable but not exceptionally lucrative environment.
Is Northwest Minnesota nonmetropolitan area a good place to live for Tellers?
The Cost of Living Index in Northwest Minnesota nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Northwest Minnesota nonmetropolitan area?
Some top paying nearby cities include St. Cloud, MN ($40,940) and Minneapolis-St. Paul-Bloomington, MN-WI.
How does the Teller salary in Northwest Minnesota compare to the national average?
The average annual salary for Tellers in Northwest Minnesota is $40,110, which is slightly lower than the national average of $40,940.
What does the Location Quotient of 1.53 mean for Tellers in this area?
A Location Quotient of 1.53 signifies that Teller positions are 53% more concentrated in Northwest Minnesota than the national average, suggesting a higher relative demand for these roles in the region.
Is the cost of living high in Northwest Minnesota for Tellers?
No, the Cost of Living Index is 100, which is the national average, meaning the cost of living is neither high nor low compared to the rest of the country.
How many Tellers are employed in Northwest Minnesota?
There are approximately 650 Tellers employed in the Northwest Minnesota 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 650 employees in the Northwest Minnesota nonmetropolitan area area with a job density of 3.377 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 Northwest Minnesota nonmetropolitan area