Average All Occupations Salary in Farmington, NM
In Farmington, New Mexico, the average annual salary for All Occupations stands at $54,480. This figure is notably below the national average of $67,140. Local economic factors, industry concentration, and the overall demand within the Farmington area contribute to this localized pay scale.
Executive Summary
- Average Salary: $54,480 per year.
- Growth Trend: Salaries have shifted 17.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $92,250.
- Outlook: Farmington, NM boasts a substantial local workforce of 46,030 individuals, with 1,000 jobs available per 1,000 workers. The Location Quotient of 1.0 indicates that the concentration of All Occupations jobs in Farmington is precisely in line with the national average, suggesting a stable and balanced job market for these roles.
Salary Overview
The average All Occupations in Farmington, NM earns-18.9%below the national average.
$26.2
$1,048
$4,540
All Occupations Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that salaries for All Occupations in Farmington, NM, like most regions, have experienced a gradual upward trend over the past four years. This growth is typically driven by inflation, increased demand for services, and evolving skill requirements within the workforce.
All Occupations Salary Distribution in Farmington, NM
Salary progression in Farmington, NM for All Occupations is closely tied to experience and specialization. Entry-level positions typically command lower salaries, while senior roles requiring extensive expertise and leadership responsibilities see significantly higher compensation. The widening gap between entry-level and senior salaries reflects a clear career progression path and the increasing value placed on seasoned professionals.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Entry LevelStarting career. Focus on acquiring core skills. | 10% (Entry) | $27,050 | $13 |
| ExperiencedProficient professional working independently. | 25% (Junior) | $40,860 | $19.6 |
| Mid-LevelEstablished expert. Standard market value. | 50% (Median) | $43,620 | $21 |
| Senior LevelAdvanced skills, leadership or specialist role. | 75% (Senior) | $68,100 | $32.7 |
| Top TierIndustry leader / Executive level compensation. | 90% (Expert) | $92,250 | $44.4 |
Detailed All Occupations Market Analysis
Relocation Context
Nominal Salary
$54,480
Gross Pay
Real Wage (Purchasing Power)
$54,480
Adjusted for COL (100)
The nominal average annual salary of $54,480 in Farmington, NM, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that, on average, the purchasing power of a Farmington resident's salary is equivalent to that of a national average resident, indicating a balanced economic environment where wages generally match living expenses.
Job Market Context
46,030
Total Jobs
1000
Per 1K Jobs
1
Location Quotient
With a location quotient of 1.00, Farmington, NM has a slightly higher-than-average concentration of All Occupations roles compared to the national norm.
With a Location Quotient of 1.0, the job market for All Occupations in Farmington, NM, mirrors the national distribution. This suggests neither an oversupply nor a significant undersupply of workers relative to the number of available positions. The market is neither exceptionally competitive nor particularly abundant, presenting a steady environment for job seekers and employers alike.
Nearby Job Markets
Hiring All Occupationss?
Frequently Asked Questions
How much does a All Occupations make in Farmington, NM?
The median annual salary for a All Occupations in Farmington, NM is $54,480. This typically ranges from $27,050 for entry-level positions to $92,250 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Farmington, NM is 18.9% lower than the national median of $67,140.
Is Farmington, NM a lucrative place for All Occupationss?
No, not exceptionally lucrative compared to the national average.The average salary of $54,480 is below the national average of $67,140, although the cost of living is also at the national average.
Is Farmington, NM a good place to live for All Occupations?
The Cost of Living Index in Farmington, NM is 100. While higher than average, this often correlates with higher wages.
What is the average salary for All Occupations in Farmington, NM?
The average annual salary for All Occupations in Farmington, NM is $54,480.
How does Farmington's salary compare to the national average?
Farmington's average salary of $54,480 is lower than the national average of $67,140.
What is the cost of living in Farmington, NM?
The cost of living in Farmington, NM is indexed at 100, which is the national average.
How large is the workforce in Farmington, NM?
Farmington, NM has a total local workforce of 46,030 individuals.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 46,030 employees in the Farmington, NM area with a job density of 1000 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for All Occupations • Data source: BLS OEWS 2024 •Jobs in Farmington, NM