Average Business and Financial Operations Occupations Salary in Kankakee, IL
In Kankakee, IL, professionals in Business and Financial Operations Occupations can expect an average annual salary of $73,950. This figure is notably below the national average of $94,590, suggesting that local market dynamics and potentially a different industry focus influence compensation in this region. The specific economic landscape of Kankakee shapes the earning potential for these critical roles.
Executive Summary
- Average Salary: $73,950 per year.
- Growth Trend: Salaries have shifted 13.2% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $116,960.
- Outlook: The Kankakee, IL market for Business and Financial Operations Occupations, with a total local workforce of 1,400, indicates a stable, albeit not highly concentrated, presence of these roles. The jobs per 1,000 workers at 33.06 further illustrate a consistent demand within the local economy. While the Location Quotient of 0.49 suggests these roles are less concentrated than the national average, the absolute number of workers points to a steady job market.
Salary Overview
The average Business and Financial Operations Occupations in Kankakee, IL earns-21.8%below the national average.
$35.6
$1,422
$6,163
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for Kankakee'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 for these vital roles, even in smaller markets.
Business and Financial Operations Occupations Salary Distribution in Kankakee, IL
Salaries for Business and Financial Operations Occupations in Kankakee, IL, naturally scale with experience. Entry-level positions typically command salaries at the lower end of the spectrum, while senior roles with extensive expertise and responsibilities can significantly exceed the average. The percentile gaps between entry-level, mid-career, and senior professionals highlight clear pathways for career progression and increased earning potential within the Kankakee area.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $39,970 | $19.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $55,463 | $26.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $64,900 | $31.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $92,438 | $44.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $116,960 | $56.2 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$73,950
Gross Pay
Real Wage (Purchasing Power)
$73,950
Adjusted for COL (100)
The average annual salary of $73,950 in Kankakee, IL, aligns perfectly 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, offering a stable financial environment for residents. While the nominal salary is lower than the national average, the equivalent cost of living suggests that the take-home pay effectively meets the average American's expenses.
Job Market Context
1,400
Total Jobs
33.06
Per 1K Jobs
0.49
Location Quotient
At 0.49x, Kankakee, IL has a notably lower concentration of Business and Financial Operations Occupations jobs than the national average. Opportunities in this area are relatively scarce for this profession.
With a Location Quotient of 0.49, Business and Financial Operations Occupations are less concentrated in Kankakee, IL, compared to the national average. This suggests that while these roles are present and necessary for the local economy, they do not form a dominant sector. The market is therefore less saturated with these professionals, potentially offering unique opportunities for skilled individuals, but also indicating a smaller overall pool of specialized jobs.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Chicago-Naperville-Elgin, IL-IN Business and Financial Operations Occupations Salary | $96,790↑ 31% | 55 mi |
| Michigan City-La Porte, IN Business and Financial Operations Occupations Salary | $71,990↓ 3% | 66 mi |
| Champaign-Urbana, IL Business and Financial Operations Occupations Salary | $76,490↑ 3% | 72 mi |
| Lafayette-West Lafayette, IN Business and Financial Operations Occupations Salary | $78,340↑ 6% | 72 mi |
| Bloomington, IL Business and Financial Operations Occupations Salary | $87,340↑ 18% | 72 mi |
Comparing salaries near Kankakee, IL
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Kankakee, IL?
The median annual salary for a Business and Financial Operations Occupations in Kankakee, IL is $73,950. This typically ranges from $39,970 for entry-level positions to $116,960 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Kankakee, IL is 21.8% lower than the national median of $94,590.
Is Kankakee, IL a lucrative place for Business and Financial Operations Occupationss?
No, Kankakee, IL is not a particularly lucrative place for Business and Financial Operations Occupationss compared to the national average.The average salary of $73,950 is significantly lower than the national average of $94,590. However, the cost of living is also at the national average, meaning the lower salary has equivalent purchasing power locally.
Is Kankakee, IL a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Kankakee, IL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Kankakee, IL?
Some top paying nearby cities include Chicago-Naperville-Elgin, IL-IN ($96,790) and Michigan City-La Porte, IN.
How does Kankakee's salary compare to the national average for these roles?
The average annual salary in Kankakee, IL, is $73,950, which is considerably 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 Kankakee?
The concentration, measured by the Location Quotient, is 0.49, indicating that these roles are less prevalent in Kankakee compared to the national average.
Does the cost of living affect the perceived value of the Kankakee salary?
No, the Cost of Living Index in Kankakee is 100, which is the national average. This means the $73,950 salary has the same purchasing power as the national average salary.
How many Business and Financial Operations professionals work in Kankakee?
There are approximately 1,400 individuals employed in Business and Financial Operations Occupations within Kankakee, IL.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,400 employees in the Kankakee, IL area with a job density of 33.06 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 Kankakee, IL