Average Tellers Salary in Springfield, IL
Tellers in Springfield, IL earn an average annual salary of $38,210. This figure is slightly below the national average of $40,940, indicating localized economic factors and demand influence compensation within the state capital. The specific economic landscape and banking industry concentration in Springfield play a significant role in shaping these pay rates.
Executive Summary
- Average Salary: $38,210 per year.
- Growth Trend: Salaries have shifted 30.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $44,950.
- Outlook: With a local workforce of 300 Tellers and a Location Quotient of 1.34, Springfield, IL demonstrates a notable concentration of these roles compared to the national average. This suggests a stable, albeit not rapidly expanding, job market for Tellers, with demand being slightly higher than the typical U.S. metropolitan area. The presence of nearly 3 Tellers per 1,000 workers further solidifies the steady employment opportunities available.
Salary Overview
The average Tellers in Springfield, IL earns-6.7%below the national average.
$18.4
$735
$3,184
Tellers Salary Trends (2020-2024)
While specific historical data isn't provided, it's reasonable to assume that Tellers salaries in Springfield, IL have experienced gradual growth over the past four years, mirroring national trends. Economic shifts, inflation, and evolving banking technologies likely contribute to incremental increases in compensation, ensuring that Tellers remain a valued part of the financial sector's operational framework.
Tellers Salary Distribution in Springfield, IL
Career progression for Tellers in Springfield, IL typically involves a salary increase with experience. Entry-level positions may start closer to the lower end of the pay scale, while seasoned professionals with extensive knowledge of banking procedures and customer service can command higher salaries. The percentile gaps in earnings signify the tangible rewards of accumulating experience and specialized skills within the teller profession.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $31,190 | $15 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $28,658 | $13.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $37,290 | $17.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $47,763 | $23 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $44,950 | $21.6 |
Detailed Tellers Market Analysis
Relocation Context
Nominal Salary
$38,210
Gross Pay
Real Wage (Purchasing Power)
$38,210
Adjusted for COL (100)
The average Tellers salary of $38,210 in Springfield, IL aligns perfectly with the national average Cost of Living Index of 100. This means that the nominal income earned by Tellers in Springfield holds its purchasing power comparably to the national average. Consequently, individuals relocating to Springfield can expect their earnings to cover essential expenses at a rate consistent with the broader U.S. economic environment.
Job Market Context
300
Total Jobs
2.939
Per 1K Jobs
1.34
Location Quotient
With a location quotient of 1.34, Springfield, IL has a slightly higher-than-average concentration of Tellers roles compared to the national norm.
Springfield, IL's Location Quotient of 1.34 indicates a higher-than-average concentration of Tellers relative to the national benchmark. This suggests that the job market for Tellers in Springfield is relatively robust and potentially more competitive than in areas with a lower LQ. While demand is present, the abundance of Tellers per capita means employers have a solid pool of candidates to draw from.
Nearby Job Markets
Nearby Cities for Tellers
| City | Salary | Dist. |
|---|---|---|
| Decatur, IL Tellers Salary | $37,010↓ 3% | 39 mi |
| West Central Illinois nonmetropolitan area Tellers Salary | $36,080↓ 6% | 53 mi |
| East Central Illinois nonmetropolitan area Tellers Salary | $36,410↓ 5% | 53 mi |
| Northwest Illinois nonmetropolitan area Tellers Salary | $37,070↓ 3% | 53 mi |
| South Illinois nonmetropolitan area Tellers Salary | $36,530↓ 4% | 53 mi |
Comparing salaries near Springfield, IL
Hiring Tellerss?
Frequently Asked Questions
How much does a Tellers make in Springfield, IL?
The median annual salary for a Tellers in Springfield, IL is $38,210. This typically ranges from $31,190 for entry-level positions to $44,950 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Springfield, IL is 6.7% lower than the national median of $40,940.
Is Springfield, IL a lucrative place for Tellers?
No, not particularly lucrative compared to the national average.While the cost of living is average, the Tellers salary in Springfield, IL ($38,210) falls below the national average ($40,940). The market shows a concentration of Tellers, suggesting steady but not exceptionally high-paying opportunities.
Is Springfield, IL a good place to live for Tellers?
The Cost of Living Index in Springfield, IL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Springfield, IL?
Some top paying nearby cities include Decatur, IL ($37,010) and West Central Illinois nonmetropolitan area.
How does the Springfield, IL Tellers salary compare to the national average?
The average annual salary for Tellers in Springfield, IL is $38,210, which is approximately 6.7% lower than the national average of $40,940.
What is the Cost of Living in Springfield, IL for Tellers?
Springfield, IL has a Cost of Living Index of 100, which is exactly the national average. This means the cost of goods and services is comparable to the rest of the country.
How concentrated is the Tellers job market in Springfield, IL?
Springfield, IL has a Location Quotient of 1.34 for Tellers, indicating that the job market is 34% more concentrated than the national average, suggesting a higher prevalence of these roles.
What is the total number of Tellers in Springfield, IL?
There are approximately 300 Tellers employed in Springfield, IL, representing 2.939 jobs per 1,000 workers in the local economy.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 300 employees in the Springfield, IL area with a job density of 2.939 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 Springfield, IL