Average Business and Financial Operations Occupations Salary in Cleveland, OH
In Cleveland, OH, professionals in Business and Financial Operations Occupations earn an average annual salary of $84,290. This figure is notably below the national average of $94,590, suggesting that local market dynamics and potentially a different industry focus in Cleveland influence compensation. While the nominal salary is lower, understanding the local economic landscape is crucial for evaluating its true value.
Executive Summary
- Average Salary: $84,290 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $130,720.
- Outlook: Cleveland's Business and Financial Operations sector demonstrates a healthy presence, with a total local workforce of 70,200 individuals in this field. The Location Quotient of 1.01 indicates that this sector is represented in Cleveland at a rate very close to the national average, suggesting a stable and consistent demand for these professionals within the local economy.
Salary Overview
The average Business and Financial Operations Occupations in Cleveland, OH earns-10.9%below the national average.
$40.5
$1,621
$7,024
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for Cleveland'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 patterns. Economic shifts and evolving business needs typically drive incremental increases in compensation for these vital roles, reflecting their increasing importance.
Business and Financial Operations Occupations Salary Distribution in Cleveland, OH
Salary progression within Business and Financial Operations Occupations in Cleveland, as elsewhere, is strongly tied to experience. Entry-level positions typically command lower salaries, while senior roles, requiring specialized skills and extensive experience, can significantly exceed the average. The gap between entry-level and senior compensation reflects clear career advancement opportunities and the increasing value placed on expertise.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $46,010 | $22.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $63,218 | $30.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $76,690 | $36.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $105,363 | $50.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $130,720 | $62.8 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$84,290
Gross Pay
Real Wage (Purchasing Power)
$84,290
Adjusted for COL (100)
The average annual salary of $84,290 in Cleveland for Business and Financial Operations Occupations aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of the local salary is equivalent to the national average, indicating that while the nominal pay is lower than the national average, the cost of living does not further diminish its value.
Job Market Context
70,200
Total Jobs
67.714
Per 1K Jobs
1.01
Location Quotient
With a location quotient of 1.01, Cleveland, OH has a slightly higher-than-average concentration of Business and Financial Operations Occupations roles compared to the national norm.
With a Location Quotient of 1.01, the Business and Financial Operations sector in Cleveland is neither significantly over-represented nor under-represented compared to the national landscape. This suggests a balanced job market where demand and supply for these professionals are relatively stable, indicating moderate competition and consistent opportunities for skilled individuals.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Akron, OH Business and Financial Operations Occupations Salary | $80,650↓ 4% | 29 mi |
| Canton-Massillon, OH Business and Financial Operations Occupations Salary | $74,280↓ 12% | 49 mi |
| Sandusky, OH Business and Financial Operations Occupations Salary | $77,990↓ 7% | 53 mi |
| Youngstown-Warren, OH Business and Financial Operations Occupations Salary | $73,120↓ 13% | 60 mi |
| Mansfield, OH Business and Financial Operations Occupations Salary | $72,960↓ 13% | 66 mi |
Comparing salaries near Cleveland, OH
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Cleveland, OH?
The median annual salary for a Business and Financial Operations Occupations in Cleveland, OH is $84,290. This typically ranges from $46,010 for entry-level positions to $130,720 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Cleveland, OH is 10.9% lower than the national median of $94,590.
Is Cleveland, OH a lucrative place for Business and Financial Operations Occupationss?
No, not exceptionally lucrative compared to the national average.The average salary of $84,290 is below the national average of $94,590, although the cost of living is also at the national average, mitigating the impact of lower nominal pay.
Is Cleveland, OH a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Cleveland, OH is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Cleveland, OH?
Some top paying nearby cities include Akron, OH ($80,650) and Canton-Massillon, OH.
How does Cleveland's Business and Financial Operations salary compare to the national average?
The average annual salary in Cleveland for these roles is $84,290, which is lower than the national average of $94,590.
What is the concentration of Business and Financial Operations jobs in Cleveland?
Cleveland has a concentration (Location Quotient) of 1.01, which is very close to the national average, indicating a similar representation of these jobs.
How does the Cost of Living in Cleveland affect the salary?
Cleveland's Cost of Living Index is 100, matching the national average. This means the $84,290 salary has the same purchasing power as the national average salary.
What is the total workforce size for Business and Financial Operations in Cleveland?
There are approximately 70,200 individuals employed in Business and Financial Operations Occupations in Cleveland, OH.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 70,200 employees in the Cleveland, OH area with a job density of 67.714 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
Explore Business and Financial Operations Occupations Salaries by State
Top Jobs in Cleveland, OH
- All Occupations Salary in Cleveland, OH
- Office and Administrative Support Occupations Salary in Cleveland, OH
- Food Preparation and Serving Related Occupations Salary in Cleveland, OH
- Transportation and Material Moving Occupations Salary in Cleveland, OH
- Healthcare Practitioners and Technical Occupations Salary in Cleveland, OH
- Production Occupations Salary in Cleveland, OH
- Sales and Related Occupations Salary in Cleveland, OH
- Management Occupations Salary in Cleveland, OH
- Business and Financial Operations Occupations Salary in Cleveland, OH
- Educational Instruction and Library Occupations Salary in Cleveland, OH
- Browse All Jobs in Cleveland, OH →
Semantic Salary Analysis for Business and Financial Operations Occupations • Data source: BLS OEWS 2024 •Jobs in Cleveland, OH