Average Business and Financial Operations Occupations Salary in Grand Forks, ND-MN
In Grand Forks, ND-MN, professionals in Business and Financial Operations Occupations earn an average annual salary of $76,120. This figure is notably below the national average of $94,590, reflecting regional economic factors and the specific demand within the local market. The compensation landscape here is shaped by the unique economic drivers and industry concentration present in the Grand Forks area.
Executive Summary
- Average Salary: $76,120 per year.
- Growth Trend: Salaries have shifted 9.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $113,730.
- Outlook: The Grand Forks, ND-MN market for Business and Financial Operations Occupations is characterized by a local workforce of 2,210 individuals. With a Location Quotient of 0.64, the concentration of these roles is below the national average, suggesting a less saturated but potentially less robust demand compared to national trends. The presence of 43.194 jobs per 1,000 workers indicates a steady, albeit not exceptionally high, level of employment in this sector within the region.
Salary Overview
The average Business and Financial Operations Occupations in Grand Forks, ND-MN earns-19.5%below the national average.
$36.6
$1,464
$6,343
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 have experienced moderate growth over the past four years, mirroring broader economic trends and inflation. This upward trajectory is typically driven by increasing demand for financial expertise, evolving business landscapes, and the need for skilled professionals to navigate complex economic environments.
Business and Financial Operations Occupations Salary Distribution in Grand Forks, ND-MN
Salary progression within Business and Financial Operations Occupations in Grand Forks, ND-MN, is significantly influenced by experience. Entry-level positions typically command lower salaries, while seasoned professionals with specialized skills and a proven track record can expect to earn considerably more. The widening gap between entry-level and senior-level salaries, often reflected in percentile data, signifies 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) | $47,410 | $22.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $57,090 | $27.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $69,110 | $33.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $95,150 | $45.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $113,730 | $54.7 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$76,120
Gross Pay
Real Wage (Purchasing Power)
$76,120
Adjusted for COL (100)
The nominal average annual salary of $76,120 in Grand Forks, ND-MN, aligns precisely with the national average Cost of Living Index of 100. This means that, on average, the purchasing power of a salary in Grand Forks is equivalent to the national average. Therefore, the $76,120 salary offers a standard of living comparable to the national median, without the added financial strain often associated with higher cost-of-living areas.
Job Market Context
2,210
Total Jobs
43.194
Per 1K Jobs
0.64
Location Quotient
Grand Forks, ND-MN has 0.64x 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 0.64 for Business and Financial Operations Occupations in Grand Forks, ND-MN, indicates that this sector is less concentrated locally than the national average. This suggests that while there may be fewer specialized roles or companies heavily focused on these operations compared to the rest of the country, the market is not oversaturated. Professionals in this field might find a more niche but potentially less competitive job landscape, with opportunities to stand out.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Fargo, ND-MN Business and Financial Operations Occupations Salary | $77,480↑ 2% | 74 mi |
Comparing salaries near Grand Forks, ND-MN
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Grand Forks, ND-MN?
The median annual salary for a Business and Financial Operations Occupations in Grand Forks, ND-MN is $76,120. This typically ranges from $47,410 for entry-level positions to $113,730 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Grand Forks, ND-MN is 19.5% lower than the national median of $94,590.
Is Grand Forks, ND-MN a lucrative place for Business and Financial Operations Occupationss?
No, not exceptionally lucrative compared to national averages.The average salary of $76,120 is below the national average, although the cost of living is on par with the national average. This suggests that while your money may go as far, the overall earning potential is lower than in many other regions.
Is Grand Forks, ND-MN a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Grand Forks, ND-MN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Grand Forks, ND-MN?
Some top paying nearby cities include Fargo, ND-MN ($77,480) and others.
How does the Grand Forks salary compare to the national average?
The average annual salary for Business and Financial Operations Occupations in Grand Forks, ND-MN is $76,120, which is lower than the national average of $94,590.
What is the Cost of Living in Grand Forks, ND-MN?
The Cost of Living Index in Grand Forks, ND-MN is 100, which is exactly the national average, meaning it is neither significantly more nor less expensive to live there than the typical US location.
How concentrated are Business and Financial Operations roles in Grand Forks?
The concentration of these roles, measured by the Location Quotient, is 0.64, indicating that they are less prevalent in Grand Forks compared to the national average.
What is the total workforce size for these occupations in Grand Forks?
There are 2,210 individuals employed in Business and Financial Operations Occupations in Grand Forks, ND-MN.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 2,210 employees in the Grand Forks, ND-MN area with a job density of 43.194 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 Grand Forks, ND-MN