In the Central East New York nonmetropolitan area, professionals in Business and Financial Operations Occupations earn an average annual salary of $82,740. This figure is notably below the national average of $94,590, reflecting regional economic factors and a potentially different demand structure compared to more urbanized or economically dynamic areas. The specific economic landscape of this nonmetropolitan region plays a significant role in shaping compensation levels for these vital roles.
Executive Summary
- Average Salary: $82,740 per year.
- Growth Trend: Salaries have shifted 26.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $127,250.
- Outlook: The Central East New York nonmetropolitan area supports a workforce of 6,830 individuals within Business and Financial Operations Occupations. With a Location Quotient of 0.64, the concentration of these roles is below the national average, suggesting a less specialized or less dominant presence of these professions within the local economy. While the absolute number of workers indicates a stable presence, the lower concentration implies that demand may not be exceptionally robust compared to national benchmarks.
Salary Overview
The average Business and Financial Operations Occupations in Central East New York nonmetropolitan area earns-12.5%below the national average.
$39.8
$1,591
$6,895
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for this nonmetropolitan area is not provided, it is generally assumed that salaries for Business and Financial Operations Occupations have seen incremental growth over the past four years, mirroring broader economic trends. This growth is typically driven by inflation, increasing demand for financial expertise, and the evolving complexity of business operations. However, the pace and magnitude of salary increases in nonmetropolitan areas can often lag behind those in major metropolitan hubs due to differing economic pressures and competitive landscapes.
Business and Financial Operations Occupations Salary Distribution in Central East New York nonmetropolitan area
Within the Business and Financial Operations Occupations sector, salary progression is strongly tied to experience and specialization. Entry-level positions typically command salaries at the lower end of the spectrum, while seasoned professionals with extensive experience and specialized skills can achieve significantly higher compensation. The percentile gaps in earnings clearly signify career advancement opportunities, with senior roles often earning 50% or more than their junior counterparts, reflecting increased responsibility and expertise.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $42,560 | $20.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $62,055 | $29.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $73,820 | $35.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $103,425 | $49.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $127,250 | $61.2 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$82,740
Gross Pay
Real Wage (Purchasing Power)
$82,740
Adjusted for COL (100)
The average annual salary of $82,740 in the Central East New York nonmetropolitan area aligns perfectly with the national average Cost of Living Index of 100. This means that, on average, the purchasing power of the salary in this region is equivalent to the national average. While this indicates a balanced financial environment where the nominal salary effectively covers typical expenses, it also suggests that there are no significant cost-of-living advantages to offset the lower average salary compared to the national median.
Job Market Context
6,830
Total Jobs
43.138
Per 1K Jobs
0.64
Location Quotient
Central East New York nonmetropolitan area has 0.64x 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.
The Location Quotient of 0.64 for Business and Financial Operations Occupations in the Central East New York nonmetropolitan area indicates that these roles are less concentrated than the national average. This suggests a less competitive market in terms of specialized talent and potentially fewer job openings relative to the overall workforce size when compared to national standards. While this might imply less intense competition for job seekers, it also points to a market that may not be a primary hub for these professions.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Binghamton, NY Business and Financial Operations Occupations Salary | $87,570↑ 6% | 49 mi |
| Kingston, NY Business and Financial Operations Occupations Salary | $83,410↑ 1% | 51 mi |
| Scranton--Wilkes-Barre, PA Business and Financial Operations Occupations Salary | $76,270↓ 8% | 64 mi |
| Utica-Rome, NY Business and Financial Operations Occupations Salary | $81,990↓ 1% | 66 mi |
| Albany-Schenectady-Troy, NY Business and Financial Operations Occupations Salary | $89,050↑ 8% | 68 mi |
Comparing salaries near Central East New York nonmetropolitan area
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Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Central East New York nonmetropolitan area?
The median annual salary for a Business and Financial Operations Occupations in Central East New York nonmetropolitan area is $82,740. This typically ranges from $42,560 for entry-level positions to $127,250 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Central East New York nonmetropolitan area is 12.5% lower than the national median of $94,590.
Is Central East New York nonmetropolitan area a lucrative place for Business and Financial Operations Occupationss?
No, not particularly lucrative compared to national averages.The average salary of $82,740 is significantly lower than the national average of $94,590, and the cost of living is on par with the national average, offering no cost-saving advantage.
Is Central East New York nonmetropolitan area a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Central East New York nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Central East New York nonmetropolitan area?
Some top paying nearby cities include Binghamton, NY ($87,570) and Kingston, NY.
How does the local workforce size impact job prospects?
With 6,830 workers in Business and Financial Operations Occupations, the local market has a substantial presence, but the below-average Location Quotient suggests that these roles are not a dominant sector, potentially leading to moderate job growth.
What does a Location Quotient of 0.64 signify?
A Location Quotient of 0.64 means that Business and Financial Operations Occupations are 36% less concentrated in this nonmetropolitan area compared to the national average, indicating a smaller relative presence in the local economy.
How does the cost of living affect the $82,740 salary?
With a Cost of Living Index of 100, the $82,740 salary has the same purchasing power as the national average, meaning it neither offers a significant advantage nor disadvantage in terms of affordability.
Are there opportunities for career advancement in this region?
While specific data isn't provided, career advancement typically involves gaining experience and specialized skills, which generally leads to higher salaries across most regions, including this nonmetropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 6,830 employees in the Central East New York nonmetropolitan area area with a job density of 43.138 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 Central East New York nonmetropolitan area