Average Business and Financial Operations Occupations Salary in Hammond, LA
In Hammond, LA, professionals in Business and Financial Operations Occupations earn an average annual salary of $68,420. This figure is notably below the national average of $94,590, indicating a localized compensation structure influenced by regional economic factors and industry demand within the state. The specific economic landscape of Hammond shapes the earning potential for these critical roles.
Executive Summary
- Average Salary: $68,420 per year.
- Growth Trend: Salaries have shifted 6.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $104,460.
- Outlook: The local workforce for Business and Financial Operations Occupations in Hammond, LA, comprises 1,690 individuals, representing 35.604 jobs per 1,000 workers. While the total workforce size is moderate, the Location Quotient of 0.53 suggests that these roles are less concentrated in Hammond compared to the national average. This indicates a potentially stable but not overly saturated job market, offering opportunities for skilled professionals.
Salary Overview
The average Business and Financial Operations Occupations in Hammond, LA earns-27.7%below the national average.
$32.9
$1,316
$5,702
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for Hammond, LA is not provided, it is generally assumed that salaries for Business and Financial Operations Occupations have experienced steady growth over the past four years, mirroring national trends. This growth is typically driven by inflation, increased demand for financial expertise, and the evolving complexities of business operations, leading to incremental salary increases for experienced professionals in the field.
Business and Financial Operations Occupations Salary Distribution in Hammond, LA
Salary progression within Business and Financial Operations Occupations in Hammond, LA, is significantly influenced by experience and specialization. Entry-level positions typically command salaries at the lower end of the spectrum, while senior roles, requiring extensive expertise and leadership, can achieve substantially higher compensation. The percentile gaps between entry-level and senior roles reflect the career advancement opportunities and the value placed on accumulated knowledge and proven performance.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $36,950 | $17.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $51,315 | $24.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $61,340 | $29.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $85,525 | $41.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $104,460 | $50.2 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$68,420
Gross Pay
Real Wage (Purchasing Power)
$68,420
Adjusted for COL (100)
The average annual salary of $68,420 in Hammond, LA, aligns precisely with the national average Cost of Living Index of 100. This means that the purchasing power of the local salary is equivalent to the national average, suggesting that the nominal salary offers a comparable standard of living to that experienced across the United States. Consequently, relocating to Hammond for these roles does not present an immediate advantage or disadvantage in terms of cost of living.
Job Market Context
1,690
Total Jobs
35.604
Per 1K Jobs
0.53
Location Quotient
Hammond, LA has 0.53x 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 0.53, Business and Financial Operations Occupations are less concentrated in Hammond, LA, than the national average. This suggests that the job market for these roles may be less competitive, with fewer professionals relative to the national distribution. While this could indicate a higher demand for skilled individuals, it also points to a smaller overall pool of specialized talent within the immediate region.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Baton Rouge, LA Business and Financial Operations Occupations Salary | $76,080↑ 11% | 40 mi |
| Slidell-Mandeville-Covington, LA Business and Financial Operations Occupations Salary | $74,950↑ 10% | 43 mi |
| New Orleans-Metairie, LA Business and Financial Operations Occupations Salary | $81,770↑ 20% | 44 mi |
| Houma-Bayou Cane-Thibodaux, LA Business and Financial Operations Occupations Salary | $74,700↑ 9% | 66 mi |
| Gulfport-Biloxi, MS Business and Financial Operations Occupations Salary | $77,180↑ 13% | 83 mi |
Comparing salaries near Hammond, LA
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Hammond, LA?
The median annual salary for a Business and Financial Operations Occupations in Hammond, LA is $68,420. This typically ranges from $36,950 for entry-level positions to $104,460 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Hammond, LA is 27.7% lower than the national median of $94,590.
Is Hammond, LA a lucrative place for Business and Financial Operations Occupationss?
No, Hammond, LA is not a particularly lucrative place for Business and Financial Operations Occupations compared to the national average.The average salary of $68,420 is significantly lower than the national average of $94,590. However, the cost of living is at the national average, meaning the lower salary offers standard purchasing power.
Is Hammond, LA a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Hammond, LA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Hammond, LA?
Some top paying nearby cities include Baton Rouge, LA ($76,080) and Slidell-Mandeville-Covington, LA.
How does the salary in Hammond, LA compare to the national average?
The average annual salary for Business and Financial Operations Occupations in Hammond, LA is $68,420, which is considerably lower than the national average of $94,590.
What is the concentration of Business and Financial Operations Occupations in Hammond, LA?
The concentration, measured by the Location Quotient, is 0.53, indicating that these occupations are less prevalent in Hammond, LA, compared to the national average.
Does the cost of living in Hammond, LA affect the salary's value?
No, the cost of living in Hammond, LA is at the national average (100), meaning the $68,420 salary offers purchasing power equivalent to the national average.
How many Business and Financial Operations Occupations jobs are there per 1,000 workers in Hammond, LA?
There are approximately 35.604 jobs per 1,000 workers in Business and Financial Operations Occupations in Hammond, LA.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,690 employees in the Hammond, LA area with a job density of 35.604 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 Hammond, LA
- All Occupations Salary in Hammond, LA
- Food Preparation and Serving Related Occupations Salary in Hammond, LA
- Office and Administrative Support Occupations Salary in Hammond, LA
- Sales and Related Occupations Salary in Hammond, LA
- Transportation and Material Moving Occupations Salary in Hammond, LA
- Educational Instruction and Library Occupations Salary in Hammond, LA
- Healthcare Practitioners and Technical Occupations Salary in Hammond, LA
- Healthcare Support Occupations Salary in Hammond, LA
- Management Occupations Salary in Hammond, LA
- Production Occupations Salary in Hammond, LA
- Browse All Jobs in Hammond, LA →
Semantic Salary Analysis for Business and Financial Operations Occupations • Data source: BLS OEWS 2024 •Jobs in Hammond, LA