The annual salary statistics of tax preparers in Farmington, New Mexico is shown in Table 1. The wage statistics of tax preparers in Farmington is based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2022 and published in April 2023 [1].
| Percentile Bracket | Average Annual Salary |
|---|---|
| 10th Percentile Wage | $18,970 |
| 25th Percentile Wage | $19,330 |
| 50th Percentile Wage | $22,110 |
| 75th Percentile Wage | $25,930 |
| 90th Percentile Wage | $31,060 |
Table 1 shows the average annual salary for tax preparers in Farmington, New Mexico in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $31,060. The median (50th percentile) annual salary is $22,110. The average annual salary for the bottom 10 percent earners is $18,970.
The table and chart below show the trend of the median salary of tax preparers from 2012 to 2020.
| Year | Median Salary | Yearly Growth | 8-Year Growth |
|---|---|---|---|
| 2020 | $22,110 | 2.31% | -35.28% |
| 2019 | $21,600 | -58.38% | - |
| 2018 | $34,210 | -1.49% | - |
| 2017 | $34,720 | 2.04% | - |
| 2016 | $34,010 | 1.56% | - |
| 2015 | $33,480 | 5.94% | - |
| 2014 | $31,490 | 8.57% | - |
| 2013 | $28,790 | -3.89% | - |
| 2012 | $29,910 | - | - |
From Table 3 we note that with a median annual salary of $22,110, Farmington is the lowest paying city for tax preparers in state of New Mexico, following city of Santa Fe (median annual salary of $43,680). Compared with the highest paying city Santa Fe, the median annual salary of tax preparers in Farmington is 49.4 percent (49.4%) lower.
| Cities/Areas | Median Annual Salary |
|---|---|
| Santa Fe | |
| Albuquerque | |
| North and West Central New Mexico nonmetropolitan area | |
| Eastern New Mexico nonmetropolitan area | |
| Eastern New Mexico nonmetropolitan area | |
| Las Cruces | |
| Northern New Mexico nonmetropolitan area | |
| Farmington |