In the East Central Illinois nonmetropolitan area, professionals in Business and Financial Operations Occupations earn an average annual salary of $74,430. This figure is notably below the national average of $94,590, reflecting the economic landscape and specific industry demands of this region compared to broader national trends.
Executive Summary
- Average Salary: $74,430 per year.
- Growth Trend: Salaries have shifted 15.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $117,870.
- Outlook: The local job market for Business and Financial Operations Occupations in East Central Illinois is moderately concentrated, with a total workforce of 5,020 individuals. The Location Quotient of 0.52 suggests that these roles are less prevalent here than the national average, indicating a stable but not rapidly expanding demand within this specific nonmetropolitan setting.
Salary Overview
The average Business and Financial Operations Occupations in East Central Illinois nonmetropolitan area earns-21.3%below the national average.
$35.8
$1,431
$6,203
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Business and Financial Operations Occupations in East Central Illinois have experienced growth over the past four years, mirroring general economic trends and inflation. This suggests a steady, albeit potentially modest, upward trajectory in compensation for these roles within the region.
Business and Financial Operations Occupations Salary Distribution in East Central Illinois nonmetropolitan area
Career progression significantly impacts earning potential within Business and Financial Operations. Entry-level positions typically start at the lower end of the salary spectrum, while seasoned professionals with extensive experience and specialized skills can command salaries well above the average. The percentile gaps between different experience levels signify clear opportunities for career advancement and increased earning capacity.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $41,750 | $20.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $55,823 | $26.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $66,390 | $31.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $93,038 | $44.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $117,870 | $56.7 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$74,430
Gross Pay
Real Wage (Purchasing Power)
$74,430
Adjusted for COL (100)
The average annual salary of $74,430 in East Central Illinois aligns perfectly with the national average Cost of Living Index of 100. This means that while the nominal salary is lower than the national average, the purchasing power of that salary locally is equivalent to the national average, suggesting a balanced economic environment for residents.
Job Market Context
5,020
Total Jobs
34.948
Per 1K Jobs
0.52
Location Quotient
East Central Illinois nonmetropolitan area has 0.52x 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.
With a Location Quotient of 0.52, the market for Business and Financial Operations Occupations in East Central Illinois is less concentrated than the national average. This indicates that while opportunities exist, the field is not as saturated as in metropolitan areas, potentially offering a more specialized or niche job market for professionals.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Bloomington, IL Business and Financial Operations Occupations Salary | $87,340↑ 17% | 9 mi |
| Decatur, IL Business and Financial Operations Occupations Salary | $87,690↑ 18% | 34 mi |
| Champaign-Urbana, IL Business and Financial Operations Occupations Salary | $76,490↑ 3% | 41 mi |
| Peoria, IL Business and Financial Operations Occupations Salary | $80,270↑ 8% | 43 mi |
| Springfield, IL Business and Financial Operations Occupations Salary | $85,120↑ 14% | 53 mi |
Comparing salaries near East Central Illinois nonmetropolitan area
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in East Central Illinois nonmetropolitan area?
The median annual salary for a Business and Financial Operations Occupations in East Central Illinois nonmetropolitan area is $74,430. This typically ranges from $41,750 for entry-level positions to $117,870 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in East Central Illinois nonmetropolitan area is 21.3% lower than the national median of $94,590.
Is East Central Illinois nonmetropolitan area a lucrative place for Business and Financial Operations Occupationss?
No, not exceptionally lucrative compared to national averages.The average salary of $74,430 is significantly lower than the national average of $94,590, although the cost of living is on par with the national average.
Is East Central Illinois nonmetropolitan area a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in East Central Illinois nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near East Central Illinois nonmetropolitan area?
Some top paying nearby cities include Bloomington, IL ($87,340) and Decatur, IL.
How does the local salary compare to the national average?
The average annual salary of $74,430 in East Central Illinois is approximately 21.4% lower than the national average of $94,590 for Business and Financial Operations Occupations.
What is the concentration of Business and Financial Operations jobs in this area?
The Location Quotient of 0.52 indicates that these occupations are less concentrated in East Central Illinois compared to the national average, suggesting a smaller but potentially specialized job market.
How does the cost of living affect the salary?
With a Cost of Living Index of 100, the local salary of $74,430 has the same purchasing power as the national average salary, meaning the lower nominal wage is offset by a comparable cost of living.
What is the total number of Business and Financial Operations professionals in the area?
There are 5,020 individuals employed in Business and Financial Operations Occupations within the East Central Illinois 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 5,020 employees in the East Central Illinois nonmetropolitan area area with a job density of 34.948 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 East Central Illinois nonmetropolitan area
- All Occupations Salary in East Central Illinois nonmetropolitan area
- Office and Administrative Support Occupations Salary in East Central Illinois nonmetropolitan area
- Transportation and Material Moving Occupations Salary in East Central Illinois nonmetropolitan area
- Production Occupations Salary in East Central Illinois nonmetropolitan area
- Food Preparation and Serving Related Occupations Salary in East Central Illinois nonmetropolitan area
- Sales and Related Occupations Salary in East Central Illinois nonmetropolitan area
- Educational Instruction and Library Occupations Salary in East Central Illinois nonmetropolitan area
- Healthcare Practitioners and Technical Occupations Salary in East Central Illinois nonmetropolitan area
- Management Occupations Salary in East Central Illinois nonmetropolitan area
- Healthcare Support Occupations Salary in East Central Illinois nonmetropolitan area
- Browse All Jobs in East Central Illinois nonmetropolitan area →
Semantic Salary Analysis for Business and Financial Operations Occupations • Data source: BLS OEWS 2024 •Jobs in East Central Illinois nonmetropolitan area