Average Business and Financial Operations Occupations Salary in Bangor, ME
In Bangor, Maine, professionals in Business and Financial Operations Occupations earn an average annual salary of $77,010. This figure is notably below the national average of $94,590, suggesting that local economic factors and industry demand play a significant role in compensation within this region. The specific economic landscape of Bangor influences the prevailing wage rates for these critical roles.
Executive Summary
- Average Salary: $77,010 per year.
- Growth Trend: Salaries have shifted 12.2% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $110,300.
- Outlook: With a local workforce of 2,860 individuals in Business and Financial Operations, and a Location Quotient of 0.59, the job market in Bangor indicates a moderate concentration of these roles relative to the national average. While not as densely populated as other areas, the presence of nearly 40 jobs per 1,000 workers suggests a stable, albeit less competitive, demand for these professionals.
Salary Overview
The average Business and Financial Operations Occupations in Bangor, ME earns-18.6%below the national average.
$37
$1,481
$6,418
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for Bangor's Business and Financial Operations sector is not provided, it's reasonable to assume a general trend of salary growth mirroring national patterns over the past four years. Economic shifts and evolving industry needs typically drive incremental increases in compensation, reflecting both inflation and increased demand for specialized financial expertise.
Business and Financial Operations Occupations Salary Distribution in Bangor, ME
Salary progression within Business and Financial Operations in Bangor, ME, typically scales with experience. Entry-level positions might start at a lower percentile, while senior roles commanding higher salaries reflect accumulated expertise and responsibility. The gap between entry-level and senior compensation often signifies significant career growth opportunities and the value placed on seasoned professionals in the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $44,230 | $21.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $57,758 | $27.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $68,450 | $32.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $96,263 | $46.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $110,300 | $53 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$77,010
Gross Pay
Real Wage (Purchasing Power)
$77,010
Adjusted for COL (100)
The average annual salary of $77,010 in Bangor, ME, aligns perfectly with the national average Cost of Living Index of 100. This means that while the nominal salary is lower than the national average, the purchasing power of that salary locally is equivalent to the national standard, offering a stable financial footing for residents.
Job Market Context
2,860
Total Jobs
39.935
Per 1K Jobs
0.59
Location Quotient
Bangor, ME has 0.59x 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.
A Location Quotient of 0.59 for Business and Financial Operations in Bangor, ME, indicates that these roles are less concentrated than the national average. This suggests that while opportunities exist, the market may be less saturated, potentially offering a more focused competitive landscape for job seekers compared to major metropolitan hubs.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Southwest Maine nonmetropolitan area Business and Financial Operations Occupations Salary | $79,320↑ 3% | 31 mi |
| Northeast Maine nonmetropolitan area Business and Financial Operations Occupations Salary | $90,260↑ 17% | 31 mi |
| Lewiston-Auburn, ME Business and Financial Operations Occupations Salary | $76,130↓ 1% | 85 mi |
Comparing salaries near Bangor, ME
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Bangor, ME?
The median annual salary for a Business and Financial Operations Occupations in Bangor, ME is $77,010. This typically ranges from $44,230 for entry-level positions to $110,300 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Bangor, ME is 18.6% lower than the national median of $94,590.
Is Bangor, ME a lucrative place for Business and Financial Operations Occupationss?
No, not exceptionally lucrative compared to national averages.While the average salary is $77,010, it falls below the national average of $94,590. However, the cost of living is at the national average, meaning your earnings have equivalent purchasing power locally.
Is Bangor, ME a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Bangor, ME is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Bangor, ME?
Some top paying nearby cities include Southwest Maine nonmetropolitan area ($79,320) and Northeast Maine nonmetropolitan area.
How does the Bangor salary compare to the national average?
The average salary for Business and Financial Operations Occupations in Bangor, ME, is $77,010, which is lower than the national average of $94,590.
What is the concentration of Business and Financial Operations jobs in Bangor?
Bangor has a Location Quotient of 0.59, meaning these jobs are less concentrated than the national average.
How does the cost of living in Bangor affect salary perception?
Bangor's Cost of Living Index is 100, matching the national average. This means the $77,010 salary offers purchasing power equivalent to the national median.
What is the total workforce size for these roles in Bangor?
There are approximately 2,860 individuals employed in Business and Financial Operations Occupations in Bangor, ME.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 2,860 employees in the Bangor, ME area with a job density of 39.935 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 Bangor, ME