Average Business and Financial Operations Occupations Salary in Binghamton, NY
In Binghamton, NY, professionals in Business and Financial Operations Occupations earn an average annual salary of $87,570. This figure is notably below the national average of $94,590, suggesting that local market dynamics, industry concentration, and potentially regional economic factors influence compensation levels. While the nominal salary is lower, understanding the cost of living is crucial for a complete financial picture.
Executive Summary
- Average Salary: $87,570 per year.
- Growth Trend: Salaries have shifted 21.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $134,430.
- Outlook: Binghamton supports a local workforce of 4,640 individuals within Business and Financial Operations Occupations. With a Location Quotient of 0.72, the concentration of these roles is slightly below the national average, indicating a moderate but not overwhelmingly dominant presence in the local economy. The presence of nearly 48 jobs per 1,000 workers suggests a stable demand for these professionals within the region.
Salary Overview
The average Business and Financial Operations Occupations in Binghamton, NY earns-7.4%below the national average.
$42.1
$1,684
$7,298
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for Binghamton's Business and Financial Operations Occupations is not provided, it is reasonable to assume a general trend of salary growth over the past four years, mirroring national economic trends. Factors such as inflation, increased demand for specialized financial skills, and evolving business needs likely contribute to incremental increases in compensation for these roles.
Business and Financial Operations Occupations Salary Distribution in Binghamton, NY
Salary progression within Business and Financial Operations Occupations typically shows a significant increase with experience. Entry-level positions often start at the lower percentiles, while seasoned professionals with specialized expertise and a proven track record can command salaries in the higher percentiles. The widening gap between entry-level and senior roles signifies substantial career growth opportunities and the value placed on accumulated knowledge and leadership.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $47,940 | $23 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $65,678 | $31.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $79,350 | $38.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $109,463 | $52.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $134,430 | $64.6 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$87,570
Gross Pay
Real Wage (Purchasing Power)
$87,570
Adjusted for COL (100)
The average annual salary of $87,570 in Binghamton, NY, 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 salary in Binghamton 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 affordability.
Job Market Context
4,640
Total Jobs
48.128
Per 1K Jobs
0.72
Location Quotient
Binghamton, NY has 0.72x 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 0.72 for Business and Financial Operations Occupations in Binghamton indicates that these roles are slightly less concentrated than the national average. This suggests that while the market is not saturated, there may be fewer specialized opportunities compared to larger metropolitan areas. However, this also implies a potentially less competitive environment for job seekers looking to establish themselves in these fields within the region.
Nearby Job Markets
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Comparing salaries near Binghamton, NY
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Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Binghamton, NY?
The median annual salary for a Business and Financial Operations Occupations in Binghamton, NY is $87,570. This typically ranges from $47,940 for entry-level positions to $134,430 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Binghamton, NY is 7.4% lower than the national median of $94,590.
Is Binghamton, NY a lucrative place for Business and Financial Operations Occupationss?
No, not exceptionally lucrative compared to the national average.The average salary of $87,570 is below the national average of $94,590, although the cost of living is on par with the national average.
Is Binghamton, NY a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Binghamton, NY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Binghamton, NY?
Some top paying nearby cities include Ithaca, NY ($84,190) and Elmira, NY.
How does Binghamton's salary for Business and Financial Operations compare to the national average?
The average salary in Binghamton is $87,570, which is lower than the national average of $94,590 for these occupations.
What is the significance of the Location Quotient (LQ) in Binghamton?
An LQ of 0.72 means that Business and Financial Operations Occupations are 28% less concentrated in Binghamton compared to the national average, suggesting a moderately present but not dominant job market.
Does the cost of living in Binghamton affect the perceived salary?
With a Cost of Living Index of 100, Binghamton's cost of living is exactly the national average. This means the $87,570 salary has the same purchasing power as the national average salary.
How many Business and Financial Operations professionals work in Binghamton?
There are approximately 4,640 individuals employed in Business and Financial Operations Occupations in Binghamton, NY.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 4,640 employees in the Binghamton, NY area with a job density of 48.128 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 Binghamton, NY