Average Tellers Salary in South Bend-Mishawaka, IN-MI
Tellers in the South Bend-Mishawaka, IN-MI area earn an average annual salary of $39,570. This figure is slightly below the national average of $40,940, indicating localized market dynamics influence compensation. Factors such as regional economic conditions and the specific demand within the local financial sector contribute to this pay scale.
Executive Summary
- Average Salary: $39,570 per year.
- Growth Trend: Salaries have shifted 32.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $45,500.
- Outlook: The South Bend-Mishawaka area supports a local workforce of 460 Tellers, with 3.498 jobs per 1,000 workers. The Location Quotient of 1.59 signifies a higher concentration of these roles compared to the national average, suggesting a robust and potentially growing demand for Tellers within this specific metropolitan region.
Salary Overview
The average Tellers in South Bend-Mishawaka, IN-MI earns-3.3%below the national average.
$19
$761
$3,298
Tellers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Tellers in South Bend-Mishawaka have experienced modest growth over the past four years, mirroring general economic trends and inflation. This upward trajectory is typical for roles within stable sectors like banking and finance, especially in areas with a notable concentration of such positions.
Tellers Salary Distribution in South Bend-Mishawaka, IN-MI
Career progression for Tellers typically involves increased responsibility and specialized skills, leading to higher earning potential. Entry-level positions may start at the lower end of the salary spectrum, while experienced Tellers with advanced knowledge in areas like customer service, fraud detection, or specialized financial products can command salaries significantly above the average. The percentile gaps in salary distribution reflect these opportunities for advancement.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $34,930 | $16.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $29,678 | $14.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $37,650 | $18.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $49,463 | $23.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $45,500 | $21.9 |
Detailed Tellers Market Analysis
Relocation Context
Nominal Salary
$39,570
Gross Pay
Real Wage (Purchasing Power)
$39,570
Adjusted for COL (100)
With a Cost of Living Index of 100, the South Bend-Mishawaka area is perfectly aligned with the national average. This means the nominal salary of $39,570 for Tellers holds its purchasing power directly against the national standard, offering no significant advantage or disadvantage in terms of affordability for residents.
Job Market Context
460
Total Jobs
3.498
Per 1K Jobs
1.59
Location Quotient
South Bend-Mishawaka, IN-MI has 1.6x 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.
The Location Quotient of 1.59 for Tellers in South Bend-Mishawaka indicates a market that is 59% more concentrated than the national average. This suggests that Tellers are a more prevalent occupation in this region, potentially leading to a more competitive job market for new entrants but also signifying a strong established presence and demand within the local economy.
Nearby Job Markets
Nearby Cities for Tellers
| City | Salary | Dist. |
|---|---|---|
| Niles, MI Tellers Salary | $38,570↓ 3% | 11 mi |
| Elkhart-Goshen, IN Tellers Salary | $40,730↑ 3% | 16 mi |
| Michigan City-La Porte, IN Tellers Salary | $38,000↓ 4% | 31 mi |
| Kalamazoo-Portage, MI Tellers Salary | $37,900↓ 4% | 54 mi |
| Battle Creek, MI Tellers Salary | $36,540↓ 8% | 69 mi |
Comparing salaries near South Bend-Mishawaka, IN-MI
Hiring Tellerss?
Frequently Asked Questions
How much does a Tellers make in South Bend-Mishawaka, IN-MI?
The median annual salary for a Tellers in South Bend-Mishawaka, IN-MI is $39,570. This typically ranges from $34,930 for entry-level positions to $45,500 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in South Bend-Mishawaka, IN-MI is 3.3% lower than the national median of $40,940.
Is South Bend-Mishawaka, IN-MI a lucrative place for Tellers?
No, not significantly more lucrative than the national average.While the local cost of living is average, the nominal salary for Tellers is slightly below the national average. The higher concentration of jobs suggests demand, but not necessarily higher pay.
Is South Bend-Mishawaka, IN-MI a good place to live for Tellers?
The Cost of Living Index in South Bend-Mishawaka, IN-MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near South Bend-Mishawaka, IN-MI?
Some top paying nearby cities include Niles, MI ($38,570) and Elkhart-Goshen, IN.
How does experience affect a Teller's salary in South Bend-Mishawaka?
Experience is a key driver of salary increases for Tellers. As Tellers gain more experience, they often take on more complex tasks, handle higher transaction volumes, and develop specialized skills, which typically leads to higher pay compared to entry-level positions.
What is the significance of the Location Quotient (LQ) for Tellers in this area?
An LQ of 1.59 means that Tellers are more common in the South Bend-Mishawaka area than they are nationally. This indicates a higher demand or a larger industry presence for this role within the local economy.
How does the cost of living in South Bend-Mishawaka compare to the national average?
The cost of living in South Bend-Mishawaka is exactly at the national average, represented by an index of 100. This means that the general expenses for goods and services are neither cheaper nor more expensive than the national benchmark.
What does the total local workforce size of 460 imply for Tellers?
A local workforce of 460 Tellers suggests a stable and established presence of this profession within the South Bend-Mishawaka financial sector. It indicates a consistent need for these services within the community.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 460 employees in the South Bend-Mishawaka, IN-MI area with a job density of 3.498 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 South Bend-Mishawaka, IN-MI