Average Tellers Salary in Springfield, MA
In Springfield, MA, Tellers earn an average annual salary of $42,980, which is slightly above the national average of $40,940. This marginal difference in compensation can be attributed to a variety of local economic factors and the specific demand for financial services professionals within the Springfield metropolitan area.
Executive Summary
- Average Salary: $42,980 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $48,650.
- Outlook: Springfield, MA supports a local workforce of approximately 400 Tellers. With a Location Quotient of 0.92, the concentration of Tellers in Springfield is just below the national average, indicating a stable but not exceptionally high demand for these roles within the local job market. The presence of 2.017 jobs per 1,000 workers suggests a consistent need for financial service professionals.
Salary Overview
The average Tellers in Springfield, MA earns+5.0%above the national average.
$20.7
$827
$3,582
Tellers Salary Trends (2020-2024)
While specific historical data for Tellers in Springfield is not provided, it is generally assumed that salaries for this role, like many others, have experienced steady growth over the past four years. This trend is typically driven by inflation, evolving financial service demands, and the need for institutions to retain skilled personnel in a competitive environment.
Tellers Salary Distribution in Springfield, MA
The salary trajectory for Tellers in Springfield, MA, typically escalates with experience. Entry-level positions might start closer to the lower end of the pay scale, while seasoned professionals with extensive experience and specialized skills can command significantly higher salaries. The percentile gaps in earnings clearly signify the career progression and increased earning potential available to Tellers as they advance.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $36,340 | $17.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $32,235 | $15.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $43,820 | $21.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $53,725 | $25.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $48,650 | $23.4 |
Detailed Tellers Market Analysis
Relocation Context
Nominal Salary
$42,980
Gross Pay
Real Wage (Purchasing Power)
$42,980
Adjusted for COL (100)
The average annual salary of $42,980 in Springfield, MA aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the nominal salary offers purchasing power equivalent to the national average, suggesting that the cost of living does not significantly inflate or deflate the perceived value of the salary.
Job Market Context
400
Total Jobs
2.017
Per 1K Jobs
0.92
Location Quotient
Springfield, MA has 0.92x 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.
With a Location Quotient of 0.92, Springfield, MA, has a slightly lower concentration of Tellers compared to the national average. This suggests that while the job market is stable and provides opportunities, it is not oversaturated. The market is moderately competitive, with a steady demand that aligns with the available workforce.
Nearby Job Markets
Nearby Cities for Tellers
| City | Salary | Dist. |
|---|---|---|
| Amherst Town-Northampton, MA Tellers Salary | $43,730↑ 2% | 18 mi |
| Hartford-West Hartford-East Hartford, CT Tellers Salary | $45,590↑ 6% | 25 mi |
| Connecticut nonmetropolitan area Tellers Salary | $45,310↑ 5% | 37 mi |
| Worcester, MA Tellers Salary | $44,390↑ 3% | 39 mi |
| Pittsfield, MA Tellers Salary | $41,470↓ 4% | 44 mi |
Comparing salaries near Springfield, MA
Hiring Tellerss?
Frequently Asked Questions
How much does a Tellers make in Springfield, MA?
The median annual salary for a Tellers in Springfield, MA is $42,980. This typically ranges from $36,340 for entry-level positions to $48,650 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Springfield, MA is 5.0% higher than the national median of $40,940.
Is Springfield, MA a lucrative place for Tellers?
Yes, moderately so.Tellers in Springfield, MA earn slightly above the national average salary, and the cost of living is on par with the national average, indicating good purchasing power.
Is Springfield, MA a good place to live for Tellers?
The Cost of Living Index in Springfield, MA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Springfield, MA?
Some top paying nearby cities include Amherst Town-Northampton, MA ($43,730) and Hartford-West Hartford-East Hartford, CT.
How does the Teller salary in Springfield compare to the national average?
Tellers in Springfield, MA, earn an average of $42,980 annually, which is slightly higher than the national average of $40,940.
What is the job market like for Tellers in Springfield, MA?
The job market is stable with a concentration of Tellers just below the national average (LQ of 0.92), indicating consistent demand without oversaturation.
Does the cost of living in Springfield affect Teller salaries?
No, the cost of living in Springfield is exactly at the national average (Index of 100), meaning the $42,980 salary offers average national purchasing power.
How much does experience impact a Teller's salary in Springfield?
Experience significantly impacts salary, with entry-level positions earning less and senior Tellers with specialized skills commanding higher pay, reflecting clear career progression.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 400 employees in the Springfield, MA area with a job density of 2.017 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, MA