Salary data is based on the Boston-Cambridge-Newton, MA-NH metropolitan area and applied to Cambridge using local cost-of-living adjustments.

Tellers Salaries in Cambridge, MA

Average Base Pay

$45,100/yr

10% above national average

Monthly

$3,758

Hourly

$22

Cost Index

152

Tellers in Cambridge, MA earn an average of $45,100 per year, with most salaries falling between $36,080 and $54,120 depending on experience, employer, and specialization. At 10% above the national average, Cambridge ranks among the higher-paying markets for this role, in part reflecting a local cost of living index of 152. For professionals evaluating a move or negotiating an offer, the headline salary is only part of the picture—what matters most is how far that income actually goes once taxes, rent, and daily expenses are factored in. The sections below break that down in full for Cambridge.

Salary Range

The chart below shows the full compensation spectrum for this role, from entry-level to senior positions. The highlighted center bars represent the 25th–75th percentile band where most professionals are paid.

$34K
Low

$45K
Median

$56K
High

25th percentile: $38K75th percentile: $52K

About Tellers

Accountants record, analyze, and report financial transactions to ensure that organizations maintain accurate records and comply with tax laws and financial regulations. They prepare financial statements—income statements, balance sheets, and cash flow statements—that stakeholders use to assess business performance. Accountants work in public accounting firms, corporate finance departments, government agencies, and nonprofits. In public accounting, they audit financial statements for accuracy, prepare tax returns, and advise clients on tax strategy. In corporate roles, they manage the general ledger, process accounts payable and receivable, reconcile bank statements, and close the books monthly and annually. Management accountants provide financial analysis to internal decision-makers—tracking costs, analyzing profitability by product or customer, and preparing budget variance reports. Tax accountants specialize in federal, state, and local tax compliance and planning. The Certified Public Accountant (CPA) designation, earned by passing the Uniform CPA Examination after meeting education requirements, is the gold standard credential and is required for signing audit reports and filing certain tax documents. Accounting requires extreme precision, as errors can have legal and financial consequences.

What Tellers Do

Maintain the general ledger and record financial transactions accurately
Prepare monthly, quarterly, and annual financial statements
Reconcile bank accounts and investigate discrepancies
Process accounts payable, accounts receivable, and payroll
Prepare and file federal, state, and local tax returns
Assist with internal and external audits
Analyze financial data to identify trends, variances, and opportunities
Ensure compliance with GAAP, IFRS, and regulatory requirements

Key Skills & Qualifications

Proficiency in accounting software such as QuickBooks, SAP, or Oracle Financials
Advanced Microsoft Excel skills including pivot tables and financial modeling
Knowledge of GAAP and financial reporting standards
Tax law knowledge for federal and state compliance
Attention to detail and accuracy
Bank reconciliation and month-end close processes
CPA designation (required or preferred for senior roles)
Analytical thinking and financial statement interpretation

Career Path

Accounting Clerk / Bookkeeper
Staff Accountant
Senior Accountant
Accounting Manager / Controller
CFO / Director of Finance

Tellers Market in Cambridge, MA

Salary Competitiveness

Cambridge is one of the stronger-paying markets for Tellers, with local salaries running approximately 10% above the national median. This premium typically reflects a combination of higher employer competition, concentrated industry presence, and elevated cost expectations built into local compensation norms.

Cost of Living Impact

The cost of living in Cambridge is well above the national average, and essential monthly expenses consume roughly 149% of take-home pay for this role. That compression means a higher gross salary buys less financial breathing room than the headline number suggests—particularly for housing, which tends to dominate the budget in high-cost markets.

Effective Purchasing Power

Despite a competitive gross salary, a Tellers earning $45,100 in Cambridge operates in a tight purchasing-power band once taxes and local cost of living are applied. Careful planning around housing, transportation, and discretionary spending is essential to avoid running negative disposable income month to month.

vs. National Avg

+10%

Cost Pressure

149%

Purchasing Power

Tight

Take-Home Pay Calculator

Enter any gross salary to see how federal and state taxes affect your actual take-home pay, broken down by year, month, and week. Results use an estimated effective tax rate of 27% based on this location and income level.

Annual Salary

Take-home (73%)Taxes (27%)

Annual Net

$32,923

Monthly

$2,744

Weekly

$633

Eff. Tax Rate

27%

A gross salary of $45,100 for a Tellers in Cambridge translates to roughly $2,744 in monthly take-home pay after estimated federal and state taxes. Set against monthly living costs of $4,093—covering housing, food, transportation, utilities, and healthcare—that leaves approximately $-1,349 per month in disposable income. That margin, not the gross number, is what determines whether you can comfortably cover rent, build savings, and afford discretionary spending in Cambridge's current market.

How far does this salary go in Cambridge?

Cost of Living in Cambridge

Estimated monthly expenses for a single person in Cambridge, benchmarked against US regional price indices for housing, food, transportation, utilities, and healthcare.

Cost Index

152

High — US average is 100. Based on a single person (1-bed apartment).

🏠Housing / Rent$2,650/mo

🍔Food & Groceries$650/mo

🚗Transportation$160/mo

💡Utilities$225/mo

🏥Healthcare$408/mo

Monthly$4,093

Annual$49,116

Financial Reality Check

This section compares estimated monthly take-home pay against typical living costs in Cambridge to show your real disposable income—the amount remaining after essential bills are paid each month.

Monthly Take-Home

$2,744

Living Costs

$4,093

Disposable

$-1,349

Cost Index

152

Lifestyle

Tight

With a monthly take-home of $2,744, your estimated living costs in Cambridge are $4,093 ($49,116/yr). This leaves $-1,349 per month in disposable income, indicating a tight standard of living. Cambridge's cost of living is 52% above the national average.

Overall, a Tellers earning $45,100 in Cambridge falls into a tight lifestyle tier and will need to budget carefully—essential costs consume a significant share of take-home pay, leaving limited room for savings or emergencies. With a cost index of 152, Cambridge is 52% more expensive than the national average, which compresses real purchasing power. Regardless of tier, prioritizing retirement contributions, an emergency fund of three to six months' expenses, and incremental debt reduction will yield the greatest long-term financial stability—especially as living costs in Cambridge continue to evolve.