Average Business and Financial Operations Occupations Salary in Bloomington, IL
In Bloomington, IL, professionals in Business and Financial Operations Occupations earn an average annual salary of $87,340. This figure is notably below the national average of $94,590, suggesting that local market dynamics and potentially a different industry focus influence compensation. While the nominal salary may seem lower, understanding the local economic landscape is crucial for a complete picture.
Executive Summary
- Average Salary: $87,340 per year.
- Growth Trend: Salaries have shifted 32.2% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $132,870.
- Outlook: Bloomington, IL boasts a substantial local workforce of 9,340 individuals within Business and Financial Operations Occupations. The location quotient of 1.54 indicates a significant concentration of these roles compared to the national average, signaling a robust and potentially growing demand for these specialized skills within the region. This concentration suggests that the area is a key hub for these professions.
Salary Overview
The average Business and Financial Operations Occupations in Bloomington, IL earns-7.7%below the national average.
$42
$1,680
$7,278
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for Bloomington, IL is not provided, it is generally assumed that salaries for Business and Financial Operations Occupations have experienced steady growth over the past four years, mirroring national trends. This growth is typically driven by inflation, increasing demand for financial expertise, and the evolving complexity of business operations.
Business and Financial Operations Occupations Salary Distribution in Bloomington, IL
Salary progression within Business and Financial Operations Occupations in Bloomington, IL, like elsewhere, is strongly tied to experience. Entry-level positions typically command lower salaries, while seasoned professionals with specialized skills and a proven track record can expect significantly higher compensation. The widening percentile gaps from entry-level to senior roles underscore the substantial career advancement and earning potential available.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $45,960 | $22.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $65,505 | $31.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $76,600 | $36.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $109,175 | $52.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $132,870 | $63.9 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$87,340
Gross Pay
Real Wage (Purchasing Power)
$87,340
Adjusted for COL (100)
The average annual salary of $87,340 in Bloomington, IL, aligns perfectly with the national average cost of living, indicated by an index of 100. This means that the purchasing power of the salary in Bloomington is comparable to the national average, offering a stable financial environment for professionals in this field.
Job Market Context
9,340
Total Jobs
103.61
Per 1K Jobs
1.54
Location Quotient
Bloomington, IL has 1.5x the national concentration of Business and Financial Operations Occupations jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
With a location quotient of 1.54, Bloomington, IL demonstrates a higher concentration of Business and Financial Operations Occupations than the national average. This suggests that the job market in this area is more specialized and potentially more competitive, with employers actively seeking talent in these fields, offering a favorable environment for skilled professionals.
Nearby Job Markets
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Comparing salaries near Bloomington, IL
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Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Bloomington, IL?
The median annual salary for a Business and Financial Operations Occupations in Bloomington, IL is $87,340. This typically ranges from $45,960 for entry-level positions to $132,870 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Bloomington, IL is 7.7% lower than the national median of $94,590.
Is Bloomington, IL a lucrative place for Business and Financial Operations Occupationss?
Yes, with a caveat.While the average salary is below the national average, the strong concentration of these roles (LQ 1.54) and a national average cost of living suggest a stable and potentially rewarding career environment.
Is Bloomington, IL a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Bloomington, IL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Bloomington, IL?
Some top paying nearby cities include West Central Illinois nonmetropolitan area ($72,980) and East Central Illinois nonmetropolitan area.
How does Bloomington's salary compare to the national average?
The average salary for Business and Financial Operations Occupations in Bloomington, IL is $87,340, which is lower than the national average of $94,590.
What is the concentration of Business and Financial Operations jobs in Bloomington, IL?
Bloomington, IL has a location quotient of 1.54 for these occupations, meaning they are 54% more concentrated than the national average.
How does the cost of living in Bloomington, IL affect salary perception?
With a cost of living index of 100, Bloomington, IL is at the national average, meaning the $87,340 salary offers purchasing power comparable to the national average.
What does the job market look like for these roles in Bloomington, IL?
The job market appears robust, with 103.61 jobs per 1,000 workers and a high concentration, indicating strong local demand for Business and Financial Operations professionals.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 9,340 employees in the Bloomington, IL area with a job density of 103.61 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 Bloomington, IL