What is the average salary in Troy, MI?
Salaries in Troy, MI, show a wide range of opportunities for job seekers. The average yearly salary stands at $60,213. This figure represents a blend of various incomes across different professions and industries.
The distribution of salaries reflects the diverse job market. The largest percentage, 42.62%, earns between $27,300 and $43,000 annually. About 17.51% make between $43,000 and $58,700. Other notable income brackets include those earning between $58,700 and $74,400 (9.90%) and those with salaries from $74,400 to $90,100 (9.20%). Higher salaries are less common but still available, with some professionals earning between $168,600 and $200,000 annually.
What are the best paying jobs in Troy, MI?
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Loan Specialist
Average Salary: $186,883
Loan specialists help clients secure loans. They work with banks and financial institutions, making them an integral part of the city's financial ecosystem. Companies like JPMorgan Chase and Bank of America offer good opportunities.
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Sales Professional
Average Salary: $131,279
Sales professionals sell products or services. They meet clients, understand their needs, and close deals. Companies such as AT&T and Verizon provide many sales positions, offering growth and development.
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Nurse Practitioner
Average Salary: $120,110
Nurse practitioners provide healthcare services. They diagnose illnesses, prescribe medications, and offer treatments. Healthcare facilities like Beaumont Health and Trinity Health are always hiring skilled nurse practitioners.
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Controller
Average Salary: $115,760
Controllers manage a company's finances. They oversee accounting, budgeting, and financial reporting. Companies like General Motors and Kelly Services offer many roles for controllers, making it a stable career choice.
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Financial Advisor
Average Salary: $115,630
Financial advisors help individuals manage their money. They create investment plans and offer financial guidance. Firms like Edward Jones and Vanguard provide excellent opportunities for financial advisors.
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Marketing Manager
Average Salary: $114,099
Marketing managers plan and execute marketing campaigns. They develop strategies to promote products and services. Companies such as Ford and Chrysler need skilled marketing managers to succeed.
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Attorney
Average Salary: $111,099
Attorneys provide legal advice and represent clients in court. They handle cases ranging from criminal to civil law. Firms like Miller, Canfield, Paddock and Stone offer many roles for attorneys.
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Software Engineer
Average Salary: $105,263
Software engineers design and develop software. They write code and test applications. Companies like IBM and General Motors provide opportunities for software engineers to innovate and grow.
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Electrical Engineer
Average Salary: $102,483
Electrical engineers design electrical systems. They work on projects involving power generation and transmission. Firms like General Motors and DTE Energy offer many opportunities for electrical engineers.
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What are the best paying jobs in Troy, MI without a degree?
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Canvasser
Average Salary: $134,569
Promote products or services by speaking to potential customers. Often work with businesses to gather information for marketing strategies. Companies like political campaigns or retail stores hire for this role.
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Restaurant Manager
Average Salary: $48,281
Oversee daily restaurant operations. Handle staff schedules, customer service, and inventory. Work with local chains and fine dining establishments to ensure smooth operations.
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Floor Tech
Average Salary: $40,333
Clean and maintain floors in commercial or industrial settings. Use various tools and chemicals to ensure a safe environment. Typically employed by janitorial services or maintenance companies.
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Line Cook
Average Salary: $35,827
Prepare food quickly in large quantities. Work in fast-paced environments like restaurants or catering companies. Focus on speed and accuracy to meet high demand.
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Kitchen Team Member
Average Salary: $35,031
Assist in food preparation and cooking. Help in various kitchen tasks under the supervision of chefs. Found in restaurants, cafes, and food service companies.
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Server
Average Salary: $34,437
Take orders and serve food and drinks to customers. Ensure a pleasant dining experience. Work in a variety of restaurants, from casual diners to upscale bistros.
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Concrete Finisher
Average Salary: $34,154
Smooth and finish concrete surfaces. Use tools to create patterns or textures. Often employed by construction companies working on building projects.
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Housekeeping
Average Salary: $34,076
Clean and maintain rooms in hotels, motels, or other lodging facilities. Ensure a tidy and welcoming environment for guests. Work for hospitality companies.
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Dishwasher
Average Salary: $33,394
Wash dishes, pots, and utensils. Ensure a clean and hygienic kitchen environment. Typically hired by restaurants or cafeterias.
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Barista
Average Salary: $32,455
Prepare and serve coffee and other beverages. Interact with customers to take orders. Found in coffee shops and cafes.
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Which companies offer the top salaries in Troy, MI?
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United Mortgage Lending
Average Salary: $220,456
United Mortgage Lending offers a variety of financial services, including lending and insurance. This company values its employees and offers competitive salaries.
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UHY LLP
Average Salary: $113,150
UHY LLP is an accounting firm with offices in multiple locations. They provide tax, audit, and consulting services. Employees enjoy a good work environment and attractive salaries.
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Ameriprise Financial
Average Salary: $100,205
Ameriprise Financial specializes in financial services, including investments and insurance. It offers a supportive workplace and good compensation.
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Magna International
Average Salary: $94,555
Magna International is a global automotive supplier. They focus on innovation and offer a competitive salary package to their employees.
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FlagStar Bank
Average Salary: $93,221
FlagStar Bank provides banking services, including loans and mortgages. They have a strong reputation and offer good salaries.
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Cummins
Average Salary: $90,870
Cummins is a leader in power generation and engine manufacturing. They offer a collaborative work environment and competitive pay.
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TEORESI INC.
Average Salary: $89,752
TEORESI INC. specializes in engineering and consulting services. They value their employees and offer attractive salaries.
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MortgagePros
Average Salary: $85,191
MortgagePros provides mortgage services, helping clients with loans and financial planning. They offer a supportive work environment and good pay.
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Unified Business Technologies
Average Salary: $81,094
Unified Business Technologies offers IT solutions and consulting. They focus on innovation and offer a good compensation package.
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Robert Half
Average Salary: $73,627
Robert Half is a staffing and recruiting firm. They connect job seekers with employers and offer good salaries for their employees.
How does the cost of living in Troy, MI compare to the national average?
The cost of living in Troy, MI, presents a mixed picture when compared to the nationwide average, which is set at 100. Housing costs in Troy are notably lower, coming in at 75. This means that housing expenses in Troy are 25% lower than the national average. For individuals and families considering a move to Troy, this could represent significant savings on monthly rent or mortgage payments.
Utilities in Troy also show a relatively favorable comparison, with an index of 95. This indicates that utility costs are 5% lower than the national average. Groceries in Troy are slightly higher, at 90, meaning they are 10% below the nationwide average. Transportation costs stand at 85, indicating a 15% decrease from the average. Healthcare costs match the national average at 100, suggesting no significant difference in this essential expense. Lastly, miscellaneous expenses in Troy are slightly above average at 92, suggesting a modest 8% increase. Overall, Troy offers a blend of lower and comparable costs across various living expenses.
