Average Tellers Salary in Upper Peninsula of Michigan nonmetropolitan area
Tellers in the Upper Peninsula of Michigan nonmetropolitan area earn an average annual salary of $37,090. This figure is slightly below the national average of $40,940, reflecting the unique economic landscape and demand dynamics of this specific region. Factors such as local economic conditions and the concentration of financial institutions contribute to this localized pay scale.
Executive Summary
- Average Salary: $37,090 per year.
- Growth Trend: Salaries have shifted 32.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $44,300.
- Outlook: The job market for Tellers in the Upper Peninsula of Michigan nonmetropolitan area appears robust, with a total local workforce of 570 individuals in this role. The Location Quotient of 2.33 significantly exceeds the national average, indicating a higher concentration of Teller positions relative to the general workforce in this area, suggesting consistent demand.
Salary Overview
The average Tellers in Upper Peninsula of Michigan nonmetropolitan area earns-9.4%below the national average.
$17.8
$713
$3,091
Tellers Salary Trends (2020-2024)
While specific historical data for the Upper Peninsula is not provided, it is generally assumed that salaries for Tellers, like many professions, have experienced a steady upward trend over the past four years. This growth is typically driven by inflation, increased demand for financial services, and the need for institutions to remain competitive in attracting and retaining qualified personnel.
Tellers Salary Distribution in Upper Peninsula of Michigan nonmetropolitan area
Salary progression for Tellers in this region typically scales with experience. Entry-level positions may start closer to the lower end of the pay scale, while seasoned professionals with several years of experience and advanced skills can command significantly higher salaries. The percentile gaps in earnings clearly signify opportunities for career advancement and increased earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $30,540 | $14.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $27,818 | $13.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $36,300 | $17.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $46,363 | $22.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $44,300 | $21.3 |
Detailed Tellers Market Analysis
Relocation Context
Nominal Salary
$37,090
Gross Pay
Real Wage (Purchasing Power)
$37,090
Adjusted for COL (100)
The nominal average annual salary of $37,090 in the Upper Peninsula of Michigan nonmetropolitan area aligns precisely with the national average Cost of Living Index of 100. This means that the purchasing power of a Teller's salary in this region is comparable to the national average, offering a stable financial environment for residents.
Job Market Context
570
Total Jobs
5.118
Per 1K Jobs
2.33
Location Quotient
Upper Peninsula of Michigan nonmetropolitan area has 2.3x 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.
With a Location Quotient of 2.33, the Upper Peninsula of Michigan nonmetropolitan area exhibits a notably higher concentration of Teller positions compared to the national average. This suggests that the job market for Tellers here is relatively abundant and potentially less competitive than in areas with lower quotients, offering good opportunities for job seekers.
Nearby Job Markets
Nearby Cities for Tellers
| City | Salary | Dist. |
|---|---|---|
| Midland, MI Tellers Salary | $42,580↑ 15% | 26 mi |
| Saginaw, MI Tellers Salary | $37,180↑ 0% | 30 mi |
| Bay City, MI Tellers Salary | $34,750↓ 6% | 37 mi |
| Lansing-East Lansing, MI Tellers Salary | $38,900↑ 5% | 42 mi |
| Flint, MI Tellers Salary | $39,440↑ 6% | 47 mi |
Comparing salaries near Upper Peninsula of Michigan nonmetropolitan area
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Frequently Asked Questions
How much does a Tellers make in Upper Peninsula of Michigan nonmetropolitan area?
The median annual salary for a Tellers in Upper Peninsula of Michigan nonmetropolitan area is $37,090. This typically ranges from $30,540 for entry-level positions to $44,300 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Upper Peninsula of Michigan nonmetropolitan area is 9.4% lower than the national median of $40,940.
Is Upper Peninsula of Michigan nonmetropolitan area a lucrative place for Tellers?
No, not exceptionally lucrative compared to national averages.While the cost of living is average, the average Teller salary of $37,090 is below the national average of $40,940. The high concentration of jobs suggests demand, but not necessarily higher pay.
Is Upper Peninsula of Michigan nonmetropolitan area a good place to live for Tellers?
The Cost of Living Index in Upper Peninsula of Michigan nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Upper Peninsula of Michigan nonmetropolitan area?
Some top paying nearby cities include Midland, MI ($42,580) and Saginaw, MI.
How does the number of Tellers in the Upper Peninsula compare to the national average?
The Upper Peninsula has 5.118 Teller jobs per 1,000 workers, which is more than double the national average, indicating a significant regional presence for this profession.
What is the significance of the Location Quotient (LQ) for Tellers in this area?
An LQ of 2.33 means that Tellers are more than twice as concentrated in the Upper Peninsula's nonmetropolitan area compared to the national average, highlighting a specialized job market.
Does experience significantly impact a Teller's salary in the Upper Peninsula?
Yes, like most roles, experience is a key factor. Senior Tellers with extensive experience will earn more than entry-level positions, with salary ranges widening based on skill and tenure.
How does the cost of living affect the value of a Teller's salary in this region?
With a Cost of Living Index of 100, the $37,090 salary offers purchasing power equivalent to the national average, meaning your earnings stretch as far as they would in a typical U.S. location.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 570 employees in the Upper Peninsula of Michigan nonmetropolitan area area with a job density of 5.118 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 Upper Peninsula of Michigan nonmetropolitan area