Average Tellers Salary in Worcester, MA
Tellers in Worcester, MA, earn an average annual salary of $44,390, which is notably higher than the national average of $40,940. This localized pay differential is often influenced by the specific economic conditions and demand within the Worcester metropolitan area, reflecting a robust local job market for financial service professionals.
Executive Summary
- Average Salary: $44,390 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $49,480.
- Outlook: With a total local workforce of 870 Tellers and a Location Quotient of 1.13, Worcester demonstrates a healthy concentration of these roles compared to the national landscape. This suggests a stable and potentially growing demand for Tellers within the region, indicating a robust job market for those in this profession.
Salary Overview
The average Tellers in Worcester, MA earns+8.4%above the national average.
$21.3
$854
$3,699
Tellers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Tellers in Worcester have experienced steady growth over the past four years, mirroring national trends. Factors such as inflation, evolving banking technologies, and increased demand for customer-facing financial services likely contribute to this upward salary trajectory.
Tellers Salary Distribution in Worcester, MA
Salary progression for Tellers in Worcester, MA, typically correlates with experience. Entry-level positions may start closer to the lower end of the pay scale, while seasoned professionals with several years of experience can command significantly higher salaries. The percentile gaps in earnings clearly signify career progression and the value placed on accumulated expertise and customer service skills.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $37,430 | $18 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $33,293 | $16 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $45,730 | $22 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $55,488 | $26.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $49,480 | $23.8 |
Detailed Tellers Market Analysis
Relocation Context
Nominal Salary
$44,390
Gross Pay
Real Wage (Purchasing Power)
$44,390
Adjusted for COL (100)
The average annual salary of $44,390 in Worcester, MA, aligns perfectly with the national average Cost of Living Index of 100. This means that the nominal salary earned by Tellers in Worcester offers purchasing power equivalent to the national average, making it a financially stable location for these professionals.
Job Market Context
870
Total Jobs
2.479
Per 1K Jobs
1.13
Location Quotient
With a location quotient of 1.13, Worcester, MA has a slightly higher-than-average concentration of Tellers roles compared to the national norm.
Worcester's Location Quotient of 1.13 indicates a slightly higher concentration of Tellers compared to the national average. This suggests that while the market is not oversaturated, there is a consistent and perhaps slightly elevated demand for Tellers in the area, making it a competitive yet accessible job market for qualified individuals.
Nearby Job Markets
Nearby Cities for Tellers
| City | Salary | Dist. |
|---|---|---|
| Massachusetts nonmetropolitan area Tellers Salary | $43,770↓ 1% | 14 mi |
| Providence-Warwick, RI-MA Tellers Salary | $43,200↓ 3% | 37 mi |
| Amherst Town-Northampton, MA Tellers Salary | $43,730↓ 1% | 37 mi |
| Boston-Cambridge-Newton, MA-NH Tellers Salary | $45,420↑ 2% | 37 mi |
| Springfield, MA Tellers Salary | $42,980↓ 3% | 39 mi |
Comparing salaries near Worcester, MA
Hiring Tellerss?
Frequently Asked Questions
How much does a Tellers make in Worcester, MA?
The median annual salary for a Tellers in Worcester, MA is $44,390. This typically ranges from $37,430 for entry-level positions to $49,480 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Worcester, MA is 8.4% higher than the national median of $40,940.
Is Worcester, MA a lucrative place for Tellers?
Yes, Worcester, MA offers a slightly more lucrative environment for Tellers compared to the national average.Tellers in Worcester earn approximately 8.4% more than the national average, and the cost of living is on par with the national average, indicating good earning potential.
Is Worcester, MA a good place to live for Tellers?
The Cost of Living Index in Worcester, MA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Worcester, MA?
Some top paying nearby cities include Massachusetts nonmetropolitan area ($43,770) and Providence-Warwick, RI-MA.
How does the number of Tellers in Worcester compare to the national average?
Worcester has 2.479 Tellers per 1,000 workers, which is slightly above the national average, indicating a healthy presence of this profession in the local economy.
What is the impact of the Location Quotient on Teller jobs in Worcester?
A Location Quotient of 1.13 suggests that Tellers are slightly more concentrated in Worcester than the national average, implying a steady demand and potentially more job opportunities relative to other professions.
How does experience affect a Teller's salary in Worcester?
As with most professions, experience significantly impacts a Teller's salary in Worcester. Entry-level positions will offer lower pay, while senior Tellers with extensive experience and specialized skills can expect to earn substantially more.
Is the Worcester job market for Tellers growing?
While specific growth rates aren't provided, the stable workforce size and Location Quotient suggest a consistent and potentially growing demand for Tellers in Worcester, MA.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 870 employees in the Worcester, MA area with a job density of 2.479 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 Worcester, MA