SalaryNode

Average Tellers Salary in Traverse City, MI

Tellers in Traverse City, MI earn an average annual salary of $39,050, which is slightly below the national average of $40,940. This localized pay rate is influenced by the specific economic conditions and demand within the Traverse City area, reflecting the unique financial landscape of this Michigan city.

Executive Summary

  • Average Salary: $39,050 per year.
  • Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $46,320.
  • Outlook: The Teller job market in Traverse City, MI, shows a moderate level of concentration, indicated by a Location Quotient of 1.34, suggesting a slightly higher prevalence of these roles compared to the national average. With a local workforce of 200 Tellers, the demand appears stable, supported by 2.955 jobs per 1,000 workers, signifying a consistent need for these financial service professionals.
2024 Market Data

Salary Overview

$39,050

The average Tellers in Traverse City, MI earns-4.6%below the national average.

BreakdownBased on 40h/week
Hourly

$18.8

Weekly

$751

Monthly

$3,254

Tellers Salary Distribution in Traverse City, MI

Career progression for Tellers in Traverse City, MI, is typically marked by increasing salary levels with experience. Entry-level positions may start closer to the lower end of the pay scale, while seasoned professionals with extensive experience and specialized skills can command salaries significantly higher than the average. The percentile gaps in earnings clearly signify these opportunities for career advancement and increased earning potential.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$35,790$17.2
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$29,288$14.1
ManagerOversees team, compliance, and project delivery.50% (Median)$37,540$18
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$48,813$23.5
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$46,320$22.3

Detailed Tellers Market Analysis

Relocation Context

Nominal Salary

$39,050

Gross Pay

Real Wage (Purchasing Power)

$39,050

Adjusted for COL (100)

The nominal average salary of $39,050 in Traverse City, MI, aligns precisely with the national average cost of living index of 100. This means that the purchasing power of a Teller's salary in Traverse City is comparable to that of a Teller in a typical U.S. city, offering a stable financial foundation without significant advantages or disadvantages related to living expenses.

Job Market Context

200

Total Jobs

2.955

Per 1K Jobs

1.34

Location Quotient

Above Average

With a location quotient of 1.34, Traverse City, MI has a slightly higher-than-average concentration of Tellers roles compared to the national norm.

Traverse City's Location Quotient of 1.34 indicates a job market where Tellers are more concentrated than the national average. This suggests a potentially competitive environment for job seekers, but also signifies a robust demand for these services within the local economy. Employers may find a slightly larger pool of qualified candidates, while Tellers may experience more opportunities for employment and career development within the area.

Nearby Job Markets

Hiring Tellerss?

Frequently Asked Questions

How much does a Tellers make in Traverse City, MI?

The median annual salary for a Tellers in Traverse City, MI is $39,050. This typically ranges from $35,790 for entry-level positions to $46,320 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Traverse City, MI is 4.6% lower than the national median of $40,940.

Is Traverse City, MI a lucrative place for Tellers?

No, not significantly more lucrative than the national average.While the cost of living is average, the average Teller salary in Traverse City is slightly below the national average. The market shows a healthy concentration but not necessarily higher pay.

Is Traverse City, MI a good place to live for Tellers?

The Cost of Living Index in Traverse City, MI is 100. While higher than average, this often correlates with higher wages.

How does the Teller salary in Traverse City compare to the national average?

The average annual salary for Tellers in Traverse City, MI is $39,050, which is slightly lower than the national average of $40,940.

What is the Cost of Living in Traverse City, MI?

Traverse City, MI has a Cost of Living Index of 100, which is exactly the national average, meaning living expenses are neither significantly higher nor lower than the typical U.S. city.

How concentrated are Teller jobs in Traverse City?

Teller jobs are more concentrated in Traverse City than the national average, with a Location Quotient of 1.34, indicating a higher prevalence of these roles.

What does the number of Tellers per 1,000 workers suggest?

With 2.955 Tellers per 1,000 workers, Traverse City shows a solid presence of these roles, suggesting consistent demand within the local financial sector.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 200 employees in the Traverse City, MI area with a job density of 2.955 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Tellers • Data source: BLS OEWS 2024 •Jobs in Traverse City, MI