Average Business and Financial Operations Occupations Salary in Akron, OH
In Akron, OH, professionals in Business and Financial Operations Occupations earn an average annual salary of $80,650. This figure is notably below the national average of $94,590, suggesting that local market dynamics and potentially a different industry focus influence compensation in this region. While the nominal salary is lower, understanding the local economic landscape is crucial for a complete picture.
Executive Summary
- Average Salary: $80,650 per year.
- Growth Trend: Salaries have shifted 14.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $127,300.
- Outlook: Akron's market for Business and Financial Operations roles is substantial, with a local workforce of 20,380 individuals employed in this sector. The Location Quotient of 0.95 indicates a presence that is nearly on par with the national average, suggesting a stable and established demand for these professionals. With 63.667 jobs per 1,000 workers, the sector demonstrates consistent employment opportunities within the Akron area.
Salary Overview
The average Business and Financial Operations Occupations in Akron, OH earns-14.7%below the national average.
$38.8
$1,551
$6,721
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that salaries for Business and Financial Operations roles in Akron have seen steady growth over the past four years, mirroring national trends. Economic recovery, increased demand for financial expertise, and evolving business needs likely contribute to a positive, albeit potentially moderate, upward trajectory in compensation within this sector.
Business and Financial Operations Occupations Salary Distribution in Akron, OH
Career progression within Business and Financial Operations in Akron significantly impacts earning potential. Entry-level positions typically start at the lower end of the salary spectrum, while seasoned professionals with specialized skills and extensive experience can command substantially higher incomes. The percentile gaps between entry-level and senior roles highlight the clear career advancement opportunities and the financial rewards associated with accumulating expertise and responsibility.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $41,940 | $20.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $60,488 | $29.1 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $74,170 | $35.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $100,813 | $48.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $127,300 | $61.2 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$80,650
Gross Pay
Real Wage (Purchasing Power)
$80,650
Adjusted for COL (100)
The average annual salary of $80,650 in Akron, OH, aligns perfectly with the national average cost of living, indicated by an index of 100. This means that the purchasing power of an Akron-based salary in this field is equivalent to the national average. While the nominal salary is lower than the national average, the cost of living parity suggests that the take-home pay may offer comparable lifestyle benefits to those in higher-cost national markets.
Job Market Context
20,380
Total Jobs
63.667
Per 1K Jobs
0.95
Location Quotient
Akron, OH has 0.95x the national average concentration of Business and Financial Operations Occupations jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
With a Location Quotient of 0.95, the market for Business and Financial Operations professionals in Akron is nearly as concentrated as the national average. This indicates a healthy and competitive job market where demand is closely matched by the available talent pool. While not significantly over-represented, the consistent presence suggests stable employment prospects and a well-established sector within the local economy.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Canton-Massillon, OH Business and Financial Operations Occupations Salary | $74,280↓ 8% | 20 mi |
| Cleveland, OH Business and Financial Operations Occupations Salary | $84,290↑ 5% | 29 mi |
| Youngstown-Warren, OH Business and Financial Operations Occupations Salary | $73,120↓ 9% | 46 mi |
| Mansfield, OH Business and Financial Operations Occupations Salary | $72,960↓ 10% | 57 mi |
| Sandusky, OH Business and Financial Operations Occupations Salary | $77,990↓ 3% | 66 mi |
Comparing salaries near Akron, OH
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Akron, OH?
The median annual salary for a Business and Financial Operations Occupations in Akron, OH is $80,650. This typically ranges from $41,940 for entry-level positions to $127,300 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Akron, OH is 14.7% lower than the national median of $94,590.
Is Akron, OH a lucrative place for Business and Financial Operations Occupationss?
No, not exceptionally lucrative compared to the national average.The average salary of $80,650 is below the national average of $94,590, indicating lower earning potential in this specific field. However, the cost of living is also at the national average, which somewhat mitigates the difference in take-home pay.
Is Akron, OH a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Akron, OH is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Akron, OH?
Some top paying nearby cities include Canton-Massillon, OH ($74,280) and Cleveland, OH.
How does Akron's cost of living compare to the national average for this role?
Akron's cost of living index is 100, which is exactly the national average. This means that your salary of $80,650 will have the same purchasing power in Akron as the national average salary of $94,590 does nationally.
What is the concentration of Business and Financial Operations jobs in Akron?
The Location Quotient for Business and Financial Operations Occupations in Akron is 0.95, indicating that the concentration of these jobs is very close to the national average. This suggests a stable and consistent presence of these roles.
How many people work in Business and Financial Operations in Akron?
There are 20,380 individuals employed in Business and Financial Operations Occupations in Akron, OH, representing a significant portion of the local workforce.
Are Business and Financial Operations jobs in high demand in Akron?
With 63.667 jobs per 1,000 workers, the demand for Business and Financial Operations professionals in Akron is robust and aligns closely with national employment patterns for this sector.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 20,380 employees in the Akron, OH area with a job density of 63.667 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Business and Financial Operations Occupations • Data source: BLS OEWS 2024 •Jobs in Akron, OH