Average Tellers Salary in Providence-Warwick, RI-MA
In Providence-Warwick, RI-MA, Tellers earn an average annual salary of $43,200. This figure slightly surpasses the national average of $40,940, indicating a localized premium for the role. Factors such as regional economic conditions and the specific demand within the financial sector of the Providence-Warwick metropolitan area likely contribute to this elevated compensation.
Executive Summary
- Average Salary: $43,200 per year.
- Growth Trend: Salaries have shifted 15.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $48,880.
- Outlook: The Providence-Warwick, RI-MA area supports a local workforce of 1,390 Tellers. With a Location Quotient of 0.89, the concentration of Tellers is slightly below the national average, suggesting a stable but not overly saturated job market. The presence of nearly 2 Tellers per 1,000 workers indicates a consistent need for these financial service professionals within the region.
Salary Overview
The average Tellers in Providence-Warwick, RI-MA earns+5.5%above the national average.
$20.8
$831
$3,600
Tellers Salary Trends (2020-2024)
While specific historical data for Tellers in Providence-Warwick is not provided, it is reasonable to assume a general trend of salary growth over the past four years, mirroring national patterns. Economic recovery, inflation, and evolving banking technologies often necessitate adjustments in compensation to attract and retain qualified personnel, likely leading to modest increases in Teller salaries within the region.
Tellers Salary Distribution in Providence-Warwick, RI-MA
Career progression for Tellers typically involves a salary increase with accumulated experience. Entry-level positions may start closer to the lower end of the pay scale, while seasoned professionals with extensive knowledge of banking procedures, customer service, and financial products can command significantly higher salaries. The percentile gaps in earnings reflect this growth, with senior Tellers often earning substantially more than their junior counterparts.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $38,210 | $18.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $32,400 | $15.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $43,010 | $20.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $54,000 | $26 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $48,880 | $23.5 |
Detailed Tellers Market Analysis
Relocation Context
Nominal Salary
$43,200
Gross Pay
Real Wage (Purchasing Power)
$43,200
Adjusted for COL (100)
The average annual salary of $43,200 in Providence-Warwick, RI-MA aligns perfectly with the national 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. Consequently, relocating to Providence-Warwick as a Teller would not present a significant financial advantage or disadvantage in terms of cost of living relative to income.
Job Market Context
1,390
Total Jobs
1.967
Per 1K Jobs
0.89
Location Quotient
Providence-Warwick, RI-MA has 0.89x 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 0.89 for Tellers in Providence-Warwick, RI-MA suggests that the job market for this role is slightly less concentrated than the national average. This indicates that while Tellers are a vital part of the local financial infrastructure, the demand is not disproportionately high compared to other professions. The market is neither overly saturated nor exceptionally scarce, presenting a balanced environment for job seekers.
Nearby Job Markets
Nearby Cities for Tellers
| City | Salary | Dist. |
|---|---|---|
| Massachusetts nonmetropolitan area Tellers Salary | $43,770↑ 1% | 29 mi |
| Worcester, MA Tellers Salary | $44,390↑ 3% | 37 mi |
| Boston-Cambridge-Newton, MA-NH Tellers Salary | $45,420↑ 5% | 38 mi |
| Norwich-New London-Willimantic, CT Tellers Salary | $42,800↓ 1% | 39 mi |
| Barnstable Town, MA Tellers Salary | $44,050↑ 2% | 58 mi |
Comparing salaries near Providence-Warwick, RI-MA
Hiring Tellerss?
Frequently Asked Questions
How much does a Tellers make in Providence-Warwick, RI-MA?
The median annual salary for a Tellers in Providence-Warwick, RI-MA is $43,200. This typically ranges from $38,210 for entry-level positions to $48,880 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Providence-Warwick, RI-MA is 5.5% higher than the national median of $40,940.
Is Providence-Warwick, RI-MA a lucrative place for Tellers?
Yes, moderately so.Tellers in Providence-Warwick earn slightly above the national average salary, and the cost of living is on par with the national average, offering stable purchasing power.
Is Providence-Warwick, RI-MA a good place to live for Tellers?
The Cost of Living Index in Providence-Warwick, RI-MA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Providence-Warwick, RI-MA?
Some top paying nearby cities include Massachusetts nonmetropolitan area ($43,770) and Worcester, MA.
How does the Providence-Warwick Teller salary compare to the national average?
The average annual salary for Tellers in Providence-Warwick, RI-MA is $43,200, which is slightly higher than the national average of $40,940.
What is the concentration of Tellers in Providence-Warwick compared to the rest of the US?
The Location Quotient for Tellers in Providence-Warwick is 0.89, indicating a slightly lower concentration of these roles compared to the national average.
Does the cost of living affect the value of a Teller's salary in Providence-Warwick?
No, the Cost of Living Index in Providence-Warwick is 100, which is the national average. This means the $43,200 salary has the same purchasing power as the national average salary.
How many Tellers are employed in the Providence-Warwick area?
There are approximately 1,390 Tellers employed within the Providence-Warwick, RI-MA metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,390 employees in the Providence-Warwick, RI-MA area with a job density of 1.967 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 Providence-Warwick, RI-MA