Average Business and Financial Operations Occupations Salary in Elkhart-Goshen, IN
In Elkhart-Goshen, IN, professionals in Business and Financial Operations Occupations earn an average annual salary of $77,380. This figure is notably below the national average of $94,590, suggesting that local market dynamics, industry concentration, and regional economic factors contribute to this compensation level. Understanding these local nuances is key for anyone in this field within the area.
Executive Summary
- Average Salary: $77,380 per year.
- Growth Trend: Salaries have shifted 23.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $115,460.
- Outlook: The Elkhart-Goshen area supports a workforce of 4,840 individuals within Business and Financial Operations Occupations. With a Location Quotient of 0.56, the concentration of these roles is below the national average, indicating a less specialized local market for these professionals compared to the rest of the country. While the absolute number of workers is substantial, the lower concentration suggests moderate demand and potentially less intense competition for talent.
Salary Overview
The average Business and Financial Operations Occupations in Elkhart-Goshen, IN earns-18.2%below the national average.
$37.2
$1,488
$6,448
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for Elkhart-Goshen's Business and Financial Operations Occupations is not provided, it is reasonable to assume a general trend of salary growth mirroring national patterns over the past four years. Economic shifts, inflation, and evolving industry demands typically drive incremental increases in compensation, even in markets with lower average salaries.
Business and Financial Operations Occupations Salary Distribution in Elkhart-Goshen, IN
Salary progression within Business and Financial Operations Occupations is strongly tied to experience and specialization. Entry-level positions typically command lower salaries, while mid-career and senior roles, requiring advanced skills and proven track records, see significant increases. The percentile gaps in salary distributions within Elkhart-Goshen reflect this career trajectory, offering clear financial incentives for professional development and advancement.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $46,000 | $22.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $58,035 | $27.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $73,030 | $35.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $96,725 | $46.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $115,460 | $55.5 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$77,380
Gross Pay
Real Wage (Purchasing Power)
$77,380
Adjusted for COL (100)
The average annual salary of $77,380 in Elkhart-Goshen, IN, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the nominal salary holds its purchasing power directly against the national standard, offering no immediate advantage or disadvantage in terms of real income when relocating from or to a national average cost of living area.
Job Market Context
4,840
Total Jobs
37.685
Per 1K Jobs
0.56
Location Quotient
Elkhart-Goshen, IN has 0.56x 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 0.56, the Business and Financial Operations Occupations market in Elkhart-Goshen is less concentrated than the national average. This suggests that while these roles are present and contribute to the local economy, they are not a dominant industry sector. The job market may be less competitive for employers seeking specialized talent, but also potentially offers fewer opportunities for rapid career advancement compared to more concentrated hubs.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| South Bend-Mishawaka, IN-MI Business and Financial Operations Occupations Salary | $75,800↓ 2% | 16 mi |
| Niles, MI Business and Financial Operations Occupations Salary | $81,130↑ 5% | 18 mi |
| Kalamazoo-Portage, MI Business and Financial Operations Occupations Salary | $78,970↑ 2% | 45 mi |
| Michigan City-La Porte, IN Business and Financial Operations Occupations Salary | $71,990↓ 7% | 47 mi |
| Battle Creek, MI Business and Financial Operations Occupations Salary | $81,610↑ 5% | 56 mi |
Comparing salaries near Elkhart-Goshen, IN
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Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Elkhart-Goshen, IN?
The median annual salary for a Business and Financial Operations Occupations in Elkhart-Goshen, IN is $77,380. This typically ranges from $46,000 for entry-level positions to $115,460 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Elkhart-Goshen, IN is 18.2% lower than the national median of $94,590.
Is Elkhart-Goshen, IN a lucrative place for Business and Financial Operations Occupationss?
No, not when compared to national averages.The average salary of $77,380 is significantly lower than the national average of $94,590. However, the cost of living is at the national average, meaning the purchasing power of the local salary is equivalent to the national standard.
Is Elkhart-Goshen, IN a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Elkhart-Goshen, IN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Elkhart-Goshen, IN?
Some top paying nearby cities include South Bend-Mishawaka, IN-MI ($75,800) and Niles, MI.
How does the Elkhart-Goshen salary compare to the national average?
The average annual salary for Business and Financial Operations Occupations in Elkhart-Goshen, IN is $77,380, which is below the national average of $94,590.
What is the concentration of Business and Financial Operations jobs in Elkhart-Goshen?
The concentration, measured by the Location Quotient, is 0.56, indicating that these occupations are less prevalent in Elkhart-Goshen compared to the national average.
Does the cost of living affect the salary in Elkhart-Goshen?
The cost of living in Elkhart-Goshen is exactly at the national average (100). Therefore, the $77,380 salary has the same purchasing power as the national average salary in a typical US city.
How many Business and Financial Operations workers are in Elkhart-Goshen?
There are approximately 4,840 individuals employed in Business and Financial Operations Occupations in the Elkhart-Goshen area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 4,840 employees in the Elkhart-Goshen, IN area with a job density of 37.685 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 Elkhart-Goshen, IN