Average Business and Financial Operations Occupations Salary in Detroit-Warren-Dearborn, MI
In Detroit-Warren-Dearborn, MI, professionals in Business and Financial Operations Occupations earn an average annual salary of $89,810. This figure is slightly below the national average of $94,590, suggesting that while the demand is present, local economic factors and industry specifics may influence compensation levels compared to the broader U.S. market.
Executive Summary
- Average Salary: $89,810 per year.
- Growth Trend: Salaries have shifted 12.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $134,930.
- Outlook: The Detroit-Warren-Dearborn metropolitan area supports a substantial workforce of 129,880 individuals within Business and Financial Operations Occupations. With a Location Quotient of 1.01, the concentration of these roles in Detroit is virtually on par with the national average, indicating a stable and established presence for these critical functions within the local economy.
Salary Overview
The average Business and Financial Operations Occupations in Detroit-Warren-Dearborn, MI earns-5.1%below the national average.
$43.2
$1,727
$7,484
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 Occupations in Detroit-Warren-Dearborn have experienced steady growth over the past four years, mirroring national trends. This upward trajectory is typically driven by inflation, increasing demand for skilled professionals, and evolving industry needs.
Business and Financial Operations Occupations Salary Distribution in Detroit-Warren-Dearborn, MI
Salary progression within Business and Financial Operations Occupations in Detroit-Warren-Dearborn is significantly influenced by experience. Entry-level positions typically command lower salaries, while senior roles, requiring extensive expertise and leadership, can reach substantially higher compensation levels. The percentile gaps between different experience tiers 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) | $47,710 | $22.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $67,358 | $32.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $80,410 | $38.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $112,263 | $54 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $134,930 | $64.9 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$89,810
Gross Pay
Real Wage (Purchasing Power)
$89,810
Adjusted for COL (100)
The average annual salary of $89,810 in Detroit-Warren-Dearborn aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of the average salary in this region is equivalent to the national average, offering a balanced financial landscape for residents.
Job Market Context
129,880
Total Jobs
68.033
Per 1K Jobs
1.01
Location Quotient
With a location quotient of 1.01, Detroit-Warren-Dearborn, MI 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 job market for Business and Financial Operations Occupations in Detroit-Warren-Dearborn is neither significantly over-represented nor under-represented compared to the national landscape. This suggests a competitive yet stable environment where demand for talent is consistent with the overall U.S. market.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Monroe, MI Business and Financial Operations Occupations Salary | $84,340↓ 6% | 34 mi |
| Ann Arbor, MI Business and Financial Operations Occupations Salary | $87,710↓ 2% | 35 mi |
| Toledo, OH Business and Financial Operations Occupations Salary | $80,450↓ 10% | 54 mi |
| Flint, MI Business and Financial Operations Occupations Salary | $76,360↓ 15% | 58 mi |
| Sandusky, OH Business and Financial Operations Occupations Salary | $77,990↓ 13% | 64 mi |
Comparing salaries near Detroit-Warren-Dearborn, MI
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Detroit-Warren-Dearborn, MI?
The median annual salary for a Business and Financial Operations Occupations in Detroit-Warren-Dearborn, MI is $89,810. This typically ranges from $47,710 for entry-level positions to $134,930 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Detroit-Warren-Dearborn, MI is 5.1% lower than the national median of $94,590.
Is Detroit-Warren-Dearborn, MI a lucrative place for Business and Financial Operations Occupationss?
Yes, it offers a balanced financial environment.The average salary of $89,810 is on par with the national cost of living, indicating stable purchasing power. The market concentration is also stable, suggesting consistent demand.
Is Detroit-Warren-Dearborn, MI a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Detroit-Warren-Dearborn, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Detroit-Warren-Dearborn, MI?
Some top paying nearby cities include Monroe, MI ($84,340) and Ann Arbor, MI.
How does the Detroit salary compare to the national average?
The average salary of $89,810 in Detroit-Warren-Dearborn is slightly below the national average of $94,590 for Business and Financial Operations Occupations.
What is the cost of living in Detroit-Warren-Dearborn, MI?
The Cost of Living Index in Detroit-Warren-Dearborn is 100, which is exactly the national average, indicating that the general cost of goods and services is comparable to the rest of the country.
How concentrated are Business and Financial Operations jobs in Detroit?
The concentration, measured by the Location Quotient, is 1.01, meaning these jobs are present in Detroit at a rate very similar to the national average.
What does a Location Quotient of 1.01 signify?
A Location Quotient of 1.01 indicates that Business and Financial Operations Occupations are found in Detroit-Warren-Dearborn at a rate that is just slightly higher than the national average, suggesting a well-established but not overly saturated market.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 129,880 employees in the Detroit-Warren-Dearborn, MI area with a job density of 68.033 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 Detroit-Warren-Dearborn, MI
- All Occupations Salary in Detroit-Warren-Dearborn, MI
- Office and Administrative Support Occupations Salary in Detroit-Warren-Dearborn, MI
- Production Occupations Salary in Detroit-Warren-Dearborn, MI
- Transportation and Material Moving Occupations Salary in Detroit-Warren-Dearborn, MI
- Sales and Related Occupations Salary in Detroit-Warren-Dearborn, MI
- Food Preparation and Serving Related Occupations Salary in Detroit-Warren-Dearborn, MI
- Business and Financial Operations Occupations Salary in Detroit-Warren-Dearborn, MI
- Management Occupations Salary in Detroit-Warren-Dearborn, MI
- Healthcare Practitioners and Technical Occupations Salary in Detroit-Warren-Dearborn, MI
- Healthcare Support Occupations Salary in Detroit-Warren-Dearborn, MI
- Browse All Jobs in Detroit-Warren-Dearborn, MI →
Semantic Salary Analysis for Business and Financial Operations Occupations • Data source: BLS OEWS 2024 •Jobs in Detroit-Warren-Dearborn, MI