Average Tellers Salary in Southwest Minnesota nonmetropolitan area
Tellers in the Southwest Minnesota nonmetropolitan area earn an average annual salary of $40,020. This figure is slightly below the national average of $40,940, reflecting the unique economic dynamics and demand specific to this region. Local factors, including the cost of living and the concentration of financial institutions, play a significant role in shaping compensation for these essential banking professionals.
Executive Summary
- Average Salary: $40,020 per year.
- Growth Trend: Salaries have shifted 25.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $45,510.
- Outlook: The job market for Tellers in Southwest Minnesota's nonmetropolitan area appears robust, with a total local workforce of 520 individuals. The Location Quotient of 2.01 indicates a significantly higher concentration of Teller positions compared to the national average, suggesting strong and consistent demand for these roles within the region.
Salary Overview
The average Tellers in Southwest Minnesota nonmetropolitan area earns-2.2%below the national average.
$19.2
$770
$3,335
Tellers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that Teller salaries in Southwest Minnesota have experienced steady growth over the past four years, mirroring national trends. Economic development and evolving financial service needs within the nonmetropolitan area likely contribute to a gradual increase in compensation for Tellers.
Tellers Salary Distribution in Southwest Minnesota nonmetropolitan area
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, sales, or fraud detection can command salaries significantly above the average, reflected in the widening percentile gaps.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $35,250 | $16.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $30,015 | $14.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $38,730 | $18.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $50,025 | $24.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $45,510 | $21.9 |
Detailed Tellers Market Analysis
Relocation Context
Nominal Salary
$40,020
Gross Pay
Real Wage (Purchasing Power)
$40,020
Adjusted for COL (100)
With an average annual salary of $40,020 and a Cost of Living Index at the national average of 100, Tellers in Southwest Minnesota's nonmetropolitan area can expect their nominal earnings to align closely with the national cost of goods and services. This suggests that the purchasing power of their salary is comparable to that of Tellers in an average U.S. location.
Job Market Context
520
Total Jobs
4.415
Per 1K Jobs
2.01
Location Quotient
Southwest Minnesota nonmetropolitan area has 2.0x 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 2.01 for Tellers in Southwest Minnesota's nonmetropolitan area signifies a substantial concentration of these roles, more than double the national average. This indicates a highly specialized local market where Teller positions are relatively abundant and a key component of the regional financial sector's employment landscape.
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 Southwest Minnesota nonmetropolitan area
Hiring Tellerss?
Frequently Asked Questions
How much does a Tellers make in Southwest Minnesota nonmetropolitan area?
The median annual salary for a Tellers in Southwest Minnesota nonmetropolitan area is $40,020. This typically ranges from $35,250 for entry-level positions to $45,510 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Southwest Minnesota nonmetropolitan area is 2.2% lower than the national median of $40,940.
Is Southwest Minnesota nonmetropolitan area a lucrative place for Tellers?
No, not significantly more lucrative than the national average.While the average salary is close to the national figure, it does not offer a substantial premium. The strong concentration of jobs (Location Quotient of 2.01) suggests high demand, but this is balanced by a cost of living at the national average.
Is Southwest Minnesota nonmetropolitan area a good place to live for Tellers?
The Cost of Living Index in Southwest Minnesota nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Southwest 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 Southwest Minnesota compare to the national average?
The average annual salary for Tellers in Southwest Minnesota's nonmetropolitan area is $40,020, which is slightly lower than the national average of $40,940.
What does the Location Quotient of 2.01 mean for Teller jobs in this area?
A Location Quotient of 2.01 indicates that Teller positions are more than twice as concentrated in Southwest Minnesota's nonmetropolitan area compared to the national average, suggesting a strong local demand for these roles.
How does the cost of living affect the Teller salary in this region?
The Cost of Living Index is 100, which is the national average. This means the $40,020 salary in Southwest Minnesota has a purchasing power equivalent to the national average, with no significant advantage or disadvantage due to cost of living.
What is the total number of Tellers employed in Southwest Minnesota's nonmetropolitan area?
There are approximately 520 Tellers employed in the Southwest Minnesota nonmetropolitan area, representing a notable segment of the local workforce.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 520 employees in the Southwest Minnesota nonmetropolitan area area with a job density of 4.415 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 Southwest Minnesota nonmetropolitan area