Average Tellers Salary in Norwich-New London-Willimantic, CT
Tellers in the Norwich-New London-Willimantic, CT area earn an average annual salary of $42,800. This figure is slightly above the national average of $40,940, suggesting a localized demand or compensation structure that favors these financial professionals. Factors such as the regional economic landscape and the specific needs of local financial institutions likely contribute to this pay differential.
Executive Summary
- Average Salary: $42,800 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $49,310.
- Outlook: The local job market for Tellers in Norwich-New London-Willimantic, CT, appears stable, with a total workforce of 270 individuals in this role. A Location Quotient of 0.97 indicates that the concentration of Tellers in this area is nearly on par with the national average, suggesting a consistent, albeit not exceptionally high, demand for these services within the region.
Salary Overview
The average Tellers in Norwich-New London-Willimantic, CT earns+4.5%above the national average.
$20.6
$823
$3,567
Tellers Salary Trends (2020-2024)
While specific historical data for Tellers in Norwich-New London-Willimantic, CT is not provided, it is reasonable to assume a general trend of salary growth over the past four years, mirroring national patterns. Economic shifts and evolving banking needs typically drive modest annual increases in compensation for roles like Tellers, reflecting inflation and increased responsibilities.
Tellers Salary Distribution in Norwich-New London-Willimantic, CT
Career progression for Tellers typically involves moving from entry-level positions to more senior roles, often accompanied by salary increases. While specific percentile data is unavailable, the typical salary range for Tellers can vary significantly, with junior staff earning less and experienced professionals commanding higher salaries, reflecting acquired skills and customer service expertise.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $36,340 | $17.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $32,100 | $15.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $42,630 | $20.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $53,500 | $25.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $49,310 | $23.7 |
Detailed Tellers Market Analysis
Relocation Context
Nominal Salary
$42,800
Gross Pay
Real Wage (Purchasing Power)
$42,800
Adjusted for COL (100)
The average annual salary of $42,800 in Norwich-New London-Willimantic, CT, 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 standard, offering no significant advantage or disadvantage in terms of affordability for daily expenses.
Job Market Context
270
Total Jobs
2.134
Per 1K Jobs
0.97
Location Quotient
Norwich-New London-Willimantic, CT has 0.97x 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.
With a Location Quotient of 0.97, the job market for Tellers in Norwich-New London-Willimantic, CT, is closely aligned with the national average in terms of concentration. This suggests a balanced market where the number of Tellers is neither exceptionally high nor low compared to the overall workforce, indicating a steady but not overly saturated demand for these positions.
Nearby Job Markets
Nearby Cities for Tellers
| City | Salary | Dist. |
|---|---|---|
| Hartford-West Hartford-East Hartford, CT Tellers Salary | $45,590↑ 7% | 34 mi |
| Connecticut nonmetropolitan area Tellers Salary | $45,310↑ 6% | 35 mi |
| Providence-Warwick, RI-MA Tellers Salary | $43,200↑ 1% | 39 mi |
| Springfield, MA Tellers Salary | $42,980↑ 0% | 45 mi |
| New Haven, CT Tellers Salary | $46,150↑ 8% | 46 mi |
Comparing salaries near Norwich-New London-Willimantic, CT
Hiring Tellerss?
Frequently Asked Questions
How much does a Tellers make in Norwich-New London-Willimantic, CT?
The median annual salary for a Tellers in Norwich-New London-Willimantic, CT is $42,800. This typically ranges from $36,340 for entry-level positions to $49,310 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Norwich-New London-Willimantic, CT is 4.5% higher than the national median of $40,940.
Is Norwich-New London-Willimantic, CT a lucrative place for Tellers?
Yes, slightly more lucrative than the national average.Tellers in this region earn $42,800 annually, which is above the national average of $40,940. The cost of living is also at the national average, meaning the slightly higher salary offers a bit more purchasing power.
Is Norwich-New London-Willimantic, CT a good place to live for Tellers?
The Cost of Living Index in Norwich-New London-Willimantic, CT is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Norwich-New London-Willimantic, CT?
Some top paying nearby cities include Hartford-West Hartford-East Hartford, CT ($45,590) and Connecticut nonmetropolitan area.
How does the Teller salary in Norwich compare to the national average?
The average annual salary for Tellers in Norwich-New London-Willimantic, CT is $42,800, which is approximately $1,860 higher than the national average of $40,940.
What is the cost of living in Norwich-New London-Willimantic, CT?
The cost of living index for Norwich-New London-Willimantic, CT is 100, which is exactly the national average. This means that the general cost of goods and services is comparable to the rest of the United States.
How concentrated are Teller jobs in Norwich-New London-Willimantic, CT?
The concentration of Teller jobs, indicated by a Location Quotient of 0.97, is very close to the national average, suggesting a stable and consistent demand for these roles in the region.
What is the total number of Tellers in Norwich-New London-Willimantic, CT?
There are approximately 270 Tellers employed in the Norwich-New London-Willimantic, CT area, representing 2.134 jobs per 1,000 workers.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 270 employees in the Norwich-New London-Willimantic, CT area with a job density of 2.134 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
Explore Tellers Salaries by State
Top Jobs in Norwich-New London-Willimantic, CT
- All Occupations Salary in Norwich-New London-Willimantic, CT
- Office and Administrative Support Occupations Salary in Norwich-New London-Willimantic, CT
- Food Preparation and Serving Related Occupations Salary in Norwich-New London-Willimantic, CT
- Sales and Related Occupations Salary in Norwich-New London-Willimantic, CT
- Educational Instruction and Library Occupations Salary in Norwich-New London-Willimantic, CT
- Transportation and Material Moving Occupations Salary in Norwich-New London-Willimantic, CT
- Management Occupations Salary in Norwich-New London-Willimantic, CT
- Healthcare Practitioners and Technical Occupations Salary in Norwich-New London-Willimantic, CT
- Production Occupations Salary in Norwich-New London-Willimantic, CT
- Healthcare Support Occupations Salary in Norwich-New London-Willimantic, CT
- Browse All Jobs in Norwich-New London-Willimantic, CT →
Semantic Salary Analysis for Tellers • Data source: BLS OEWS 2024 •Jobs in Norwich-New London-Willimantic, CT