Average Tellers Salary in Southern Michigan nonmetropolitan area
Tellers in Southern Michigan's nonmetropolitan areas earn an average annual salary of $37,630. This figure is notably below the national average of $40,940, suggesting that regional economic factors and a potentially lower demand for banking services in these specific locales contribute to this pay differential. The concentration of Tellers relative to the national average also plays a role in understanding local compensation.
Executive Summary
- Average Salary: $37,630 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $44,270.
- Outlook: The job market for Tellers in Southern Michigan's nonmetropolitan areas appears stable, with a total local workforce of 410 individuals. The Location Quotient of 1.39 indicates a higher concentration of Tellers compared to the national average, suggesting a consistent, albeit not booming, demand for these professionals in the region. The presence of 3.07 Tellers per 1,000 workers further reinforces this steady employment landscape.
Salary Overview
The average Tellers in Southern Michigan nonmetropolitan area earns-8.1%below the national average.
$18.1
$724
$3,136
Tellers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that Tellers' salaries in Southern Michigan's nonmetropolitan areas 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 Southern Michigan nonmetropolitan area
As Tellers gain experience, their earning potential typically increases. Entry-level positions will likely fall at the lower end of the salary spectrum, while senior Tellers with extensive knowledge of financial products, customer service expertise, and potentially supervisory duties can command higher salaries. The percentile gaps in compensation signify clear career progression pathways within the Teller role.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $31,990 | $15.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $28,223 | $13.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $36,660 | $17.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $47,038 | $22.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $44,270 | $21.3 |
Detailed Tellers Market Analysis
Relocation Context
Nominal Salary
$37,630
Gross Pay
Real Wage (Purchasing Power)
$37,630
Adjusted for COL (100)
The nominal average annual salary of $37,630 in Southern Michigan's nonmetropolitan areas aligns precisely with the national average Cost of Living Index of 100. This means that, on average, the purchasing power of a Teller's salary in this region is comparable to that of a Teller earning the national average salary in a region with a national average cost of living.
Job Market Context
410
Total Jobs
3.07
Per 1K Jobs
1.39
Location Quotient
With a location quotient of 1.39, Southern Michigan nonmetropolitan area has a slightly higher-than-average concentration of Tellers roles compared to the national norm.
With a Location Quotient of 1.39, Southern Michigan's nonmetropolitan areas exhibit a higher concentration of Tellers than the national average. This suggests that the job market for Tellers in this region is relatively more abundant or specialized compared to other areas, potentially leading to more opportunities but also indicating a competitive environment for new entrants.
Nearby Job Markets
Nearby Cities for Tellers
| City | Salary | Dist. |
|---|---|---|
| Midland, MI Tellers Salary | $42,580↑ 13% | 26 mi |
| Saginaw, MI Tellers Salary | $37,180↓ 1% | 30 mi |
| Bay City, MI Tellers Salary | $34,750↓ 8% | 37 mi |
| Lansing-East Lansing, MI Tellers Salary | $38,900↑ 3% | 42 mi |
| Flint, MI Tellers Salary | $39,440↑ 5% | 47 mi |
Comparing salaries near Southern Michigan nonmetropolitan area
Hiring Tellerss?
Frequently Asked Questions
How much does a Tellers make in Southern Michigan nonmetropolitan area?
The median annual salary for a Tellers in Southern Michigan nonmetropolitan area is $37,630. This typically ranges from $31,990 for entry-level positions to $44,270 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Southern Michigan nonmetropolitan area is 8.1% lower than the national median of $40,940.
Is Southern Michigan nonmetropolitan area a lucrative place for Tellers?
No, it is not particularly lucrative compared to the national average.The average salary of $37,630 is below the national average of $40,940, indicating lower earning potential. However, the cost of living is on par with the national average, meaning the salary's purchasing power is standard.
Is Southern Michigan nonmetropolitan area a good place to live for Tellers?
The Cost of Living Index in Southern Michigan nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Southern Michigan nonmetropolitan area?
Some top paying nearby cities include Midland, MI ($42,580) and Saginaw, MI.
How does the number of Tellers per 1,000 workers compare nationally?
With 3.07 Tellers per 1,000 workers, this nonmetropolitan area has a slightly higher concentration than the national average, as indicated by the Location Quotient of 1.39.
What is the significance of the Location Quotient (LQ) for Tellers in this region?
An LQ of 1.39 signifies that Tellers are more concentrated in Southern Michigan's nonmetropolitan areas than in the nation as a whole, suggesting a potentially stronger local demand or a more specialized banking sector.
Does the cost of living impact the perceived value of a Teller's salary in Southern Michigan?
No, the cost of living index of 100 means the local cost of living is average, so the $37,630 salary has standard purchasing power relative to the national average.
How many Tellers are employed in this specific region?
There are approximately 410 Tellers employed within the Southern 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 410 employees in the Southern Michigan nonmetropolitan area area with a job density of 3.07 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 Southern Michigan nonmetropolitan area