Financial reporting firms employ billing analysts to ensure that bills and other monetary paperwork are handled appropriately. The billing analyst has an entry-level accounting role in most organizations’ accounting departments. Bills are created by billing analysts, who also get authorization for billing, determine the amount of charges owed, and usually, monitor the correctness of all accounts payable data. To achieve this, quantitative statements must be extracted from arriving and departing billing papers and entered into the payroll system. Here we will see about Salaries For Billing Analyst.
Monitoring and information exchange are additional responsibilities of billing analysts’ positions. They must forecast income amounts and write reports that include this data for superiors. They create reports for clients on an accrual basis. Additionally, they conduct client account audits and share relevant data as needed.
Salaries for billing analyst
The annual compensation for a billing analyst in the United States is expected to be $76,841, with a usual income of $49,516. These figures show the median, or the middle of the categories, from a unique Total Pay Estimate methodology derived from information about wages, gathered from our users.
The expected annual increase in wages is $27,325. Cash bonuses, commissions, gratuities, and stock options are all possible forms of extra compensation.
How much a billing analyst makes depends on where they work. Billing analysts earn the highest salaries in Louisiana, New Jersey, Texas, California, and Maryland.
What are some ways billing analysts may raise their pay?
Throughout ordinary working times, billing analysts often perform their work in an administrative environment.
A bachelor’s degree in accountancy, economics, or a similar discipline is often necessary for this employment. Recruiters could need applicable certificates and past knowledge in a comparable position. Billing analysts must be capable of adhering to corporate rules while operating autonomously and possess a solid understanding of accounting and financial research. It’s also crucial to have administrative abilities because billing analysts frequently handle several customer accounts. For these analysts to properly convey pertinent billing ideas to customers and non-accounting colleagues, excellent communication abilities are also essential.
As a billing analyst, you may increase your income in a number of ways.
- Try switching to a new firm that will compensate more for your abilities for a clean slate.
- Education Requirement: If candidates for this post receive advanced degrees, they may be elevated and paid more.
- Management experience may increase your prospects of making more income if you are a billing analyst who oversees less seasoned billing analysts.
Top Companies for Billing Analysts
Booz, Allen, and Hamilton, Charter Communications, Inc., and Verizon Wireless are the firms with the highest percentage of responders for the position of billing analyst. L3Harris has the highest reported wages with an average compensation of $67,500. Charter Communications, Inc. and Booz, Allen, and Hamilton are two more employers that pay well for this position, with corresponding starting wages of around $57,000 and $51,415. Comcast Cable, Inc. offers the most minor salary, about $45,000. Spectrum and Verizon Business Inc. pay correspondingly at the bottom of the range, at $48,031 and $45,298.
What are the Top 10 Cities with the Highest Paying Jobs for Billing Analysts?
There are 10 cities where a Billing Analyst’s average pay is higher than the countrywide average. Sunnyvale, CA is at the head of the ranking, followed closely by Santa Rosa, CA, and Cambridge, MA, in the second and third spots. Both Cambridge, MA, and Sunnyvale, CA surpass the $49,620 average wage by an additional $8,741 (17.6%) and $12,536 (25.3%), respectively.
The average salary in these ten places is greater than the state median; therefore, moving to grow financially as a billing analyst seems quite advantageous.
The idea that the average pay in these leading ten towns only differs by 10% between Sunnyvale, California, and San Mateo, California, further supports the restricted possibility for substantial pay growth. When weighing location and pay for a Billing Analyst position, the prospect of a cheaper cost of living can be the most crucial consideration.
What are the Top 5 Highest Paying Jobs Related to Billing Analysts in the United States?
According to research, at least five positions in the Billing Analyst field of employment earn more annually than the average Billing Analyst income. Chief Billing Director, Head of Billing Management, and Director of Receivables are three prominent examples of these positions.
Notably, the salaries for all these positions range from $18,674 (37.6%) to $37,170 (74.9%), more than the $49,620 median compensation for billing analysts. If you meet the requirements, you might earn more income than the typical Billing Analyst role by being recruited for one of these similar positions.
What do Billing Analysts earn in Different Markets?
Wages for billing analysts might vary by sector. According to research, billing analysts earn substantially higher incomes in the financial, telecommunications, and technology sectors. For instance, billing analysts in the financial sector earn a staggering average income of $85,468. Other professionals in this sector earn $72,519 in the telecom sector and $68,877 in the technology sector.
The insurance sector, which pays an average income of $56,921 to billing analysts, gives the poorest pay.
Conclusion
Based on the number of years of expertise an individual possesses, a billing analyst’s pay might range from entry-level to senior positions. The Bureau of Labor Statistics (BLS), whose National Compensation Survey is based on variables including expertise, intricacy, connections, and surroundings, provides information on how the level of expertise influences total pay.
Your salary will increase with the number of years of expertise you possess. With less than two years of expertise, a billing expert might anticipate making roughly 300 USD a month. Compared to someone with less than two years of expertise, somebody with two to five years may anticipate earning 400 USD a month, a difference of 29%. A person with five to ten years of expertise makes 600 USD per month, which is 38% higher than a person with two to five years of expertise. Through this article we have learned about Here we will see about Salaries For Billing Analyst.
FAQS
After taxes, how much would I make?
You will pay $11,959 in taxes if you earn $55,000 per year and reside in the New York area of the United States. As a result, you will receive a net salary of $3,587 every month, or $43,041 annually.
How much per hour is $50,000 annually?
Your hourly wage would be $24.04 if your annual income were $50,000. If you operate 40 hours a week, calculate your base income by the number of hours, weeks, and months you operate in a year to get this figure.
