Average Business and Financial Operations Occupations Salary in Champaign-Urbana, IL
In Champaign-Urbana, IL, professionals in Business and Financial Operations Occupations earn an average annual salary of $76,490. This figure is notably below the national average of $94,590, suggesting that local market dynamics, such as industry concentration and regional economic factors, play a significant role in compensation levels within this sector.
Executive Summary
- Average Salary: $76,490 per year.
- Growth Trend: Salaries have shifted 5.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $111,810.
- Outlook: With a local workforce of 4,610 individuals in Business and Financial Operations, Champaign-Urbana presents a moderately sized talent pool. The location quotient of 0.66 indicates that this sector is less concentrated here compared to the national average, implying a potentially stable but not overly saturated job market for these professionals.
Salary Overview
The average Business and Financial Operations Occupations in Champaign-Urbana, IL earns-19.1%below the national average.
$36.8
$1,471
$6,374
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 Champaign-Urbana have experienced growth over the past four years, mirroring national trends of increasing compensation driven by inflation, demand, and evolving industry needs. This upward trajectory is typical for skilled professional roles in established metropolitan areas.
Business and Financial Operations Occupations Salary Distribution in Champaign-Urbana, IL
Salary progression within Business and Financial Operations in Champaign-Urbana typically scales with experience. Entry-level positions often start at the lower end of the pay scale, while senior roles, commanding specialized expertise and leadership responsibilities, can reach significantly higher earnings. The percentile gaps in salary distributions highlight clear opportunities for career advancement and increased earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $45,490 | $21.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $57,368 | $27.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $68,160 | $32.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $95,613 | $46 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $111,810 | $53.8 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$76,490
Gross Pay
Real Wage (Purchasing Power)
$76,490
Adjusted for COL (100)
The average annual salary of $76,490 in Champaign-Urbana aligns perfectly with the local cost of living index of 100, which is equivalent to the national average. This means that the purchasing power of the salary in Champaign-Urbana is comparable to the national average, offering a stable financial standing for residents.
Job Market Context
4,610
Total Jobs
44.078
Per 1K Jobs
0.66
Location Quotient
Champaign-Urbana, IL has 0.66x 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 0.66 for Business and Financial Operations Occupations in Champaign-Urbana suggests that this field is less prevalent locally than it is nationwide. This indicates a potentially less competitive environment for job seekers, but also suggests that the demand might be more specialized or tied to specific regional industries rather than broad national trends.
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Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Champaign-Urbana, IL?
The median annual salary for a Business and Financial Operations Occupations in Champaign-Urbana, IL is $76,490. This typically ranges from $45,490 for entry-level positions to $111,810 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Champaign-Urbana, IL is 19.1% lower than the national median of $94,590.
Is Champaign-Urbana, IL a lucrative place for Business and Financial Operations Occupationss?
No, not exceptionally lucrative compared to the national average.The average salary of $76,490 is below the national average of $94,590, although the cost of living is on par with the national average.
Is Champaign-Urbana, IL a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Champaign-Urbana, IL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Champaign-Urbana, IL?
Some top paying nearby cities include Decatur, IL ($87,690) and West Central Illinois nonmetropolitan area.
How does the Champaign-Urbana salary compare to the national average?
The average annual salary for Business and Financial Operations Occupations in Champaign-Urbana is $76,490, which is lower than the national average of $94,590.
What is the concentration of Business and Financial Operations jobs in Champaign-Urbana?
The concentration, measured by the location quotient, is 0.66, indicating that this sector is less concentrated in Champaign-Urbana compared to the national average.
How does the cost of living in Champaign-Urbana affect salary perception?
With a cost of living index of 100, the local expenses are equivalent to the national average, meaning the $76,490 salary offers purchasing power similar to the national average.
What is the total workforce size for these occupations in Champaign-Urbana?
There are approximately 4,610 individuals employed in Business and Financial Operations Occupations within the Champaign-Urbana area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 4,610 employees in the Champaign-Urbana, IL area with a job density of 44.078 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 Champaign-Urbana, IL