In Grand Rapids-Wyoming-Kentwood, MI, professionals in Business and Financial Operations Occupations earn an average annual salary of $78,930. This figure is notably below the national average of $94,590, suggesting that local economic factors and industry demand play a significant role in compensation within this metropolitan area.
Executive Summary
- Average Salary: $78,930 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $122,550.
- Outlook: The Grand Rapids-Wyoming-Kentwood area supports a substantial workforce of 31,380 individuals in Business and Financial Operations Occupations. With a Location Quotient of 0.83, the concentration of these roles is slightly below the national average, indicating a stable yet not overly saturated market. The presence of 55.891 jobs per 1,000 workers points to consistent demand for these essential financial and operational professionals.
Salary Overview
The average Business and Financial Operations Occupations in Grand Rapids-Wyoming-Kentwood, MI earns-16.6%below the national average.
$38
$1,518
$6,578
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for Grand Rapids is not provided, it is reasonable to assume that salaries for Business and Financial Operations Occupations have experienced growth over the past four years, mirroring national trends. Economic recovery, evolving business needs, and inflation typically drive upward adjustments in compensation for skilled professionals in this sector.
Business and Financial Operations Occupations Salary Distribution in Grand Rapids-Wyoming-Kentwood, MI
Salary progression within Business and Financial Operations Occupations is strongly tied to experience. Entry-level positions typically command lower salaries, while senior roles and specialized expertise can lead to significantly higher earnings. The percentile gaps between different experience levels highlight clear career advancement opportunities and the increasing value placed on seasoned professionals in the Grand Rapids market.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $45,290 | $21.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $59,198 | $28.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $73,490 | $35.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $98,663 | $47.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $122,550 | $58.9 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$78,930
Gross Pay
Real Wage (Purchasing Power)
$78,930
Adjusted for COL (100)
The average annual salary of $78,930 in Grand Rapids-Wyoming-Kentwood aligns perfectly with the national average Cost of Living Index of 100. This means that the nominal salary earned by professionals in this field offers purchasing power equivalent to the national average, making it a balanced environment for financial planning and lifestyle.
Job Market Context
31,380
Total Jobs
55.891
Per 1K Jobs
0.83
Location Quotient
Grand Rapids-Wyoming-Kentwood, MI has 0.83x 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 0.83 for Business and Financial Operations Occupations in Grand Rapids-Wyoming-Kentwood suggests that this sector is slightly less concentrated than the national average. This indicates a competitive job market where demand is present but perhaps not as intense as in major financial hubs, offering a balanced environment for job seekers and employers.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
Comparing salaries near Grand Rapids-Wyoming-Kentwood, MI
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Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Grand Rapids-Wyoming-Kentwood, MI?
The median annual salary for a Business and Financial Operations Occupations in Grand Rapids-Wyoming-Kentwood, MI is $78,930. This typically ranges from $45,290 for entry-level positions to $122,550 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Grand Rapids-Wyoming-Kentwood, MI is 16.6% lower than the national median of $94,590.
Is Grand Rapids-Wyoming-Kentwood, MI a lucrative place for Business and Financial Operations Occupationss?
No, not as lucrative as the national average.The average salary of $78,930 is below the national average of $94,590. However, the cost of living is also at the national average, providing comparable purchasing power.
Is Grand Rapids-Wyoming-Kentwood, MI a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Grand Rapids-Wyoming-Kentwood, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Grand Rapids-Wyoming-Kentwood, MI?
Some top paying nearby cities include Muskegon-Norton Shores, MI ($73,600) and Kalamazoo-Portage, MI.
How does the Grand Rapids salary compare to the national average?
The average salary for Business and Financial Operations Occupations in Grand Rapids is $78,930, which is lower than the national average of $94,590.
What is the concentration of Business and Financial Operations jobs in Grand Rapids?
The concentration, measured by the Location Quotient, is 0.83, indicating slightly fewer jobs per capita compared to the national average.
How does the cost of living in Grand Rapids affect salary perception?
With a Cost of Living Index of 100, the Grand Rapids salary of $78,930 offers purchasing power equivalent to the national average, despite being lower in nominal terms.
What is the total number of Business and Financial Operations workers in Grand Rapids?
There are 31,380 individuals employed in Business and Financial Operations Occupations within the Grand Rapids-Wyoming-Kentwood metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 31,380 employees in the Grand Rapids-Wyoming-Kentwood, MI area with a job density of 55.891 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 Rapids-Wyoming-Kentwood, MI