Average Business and Financial Operations Occupations Salary in Knoxville, TN
In Knoxville, TN, professionals in Business and Financial Operations Occupations earn an average annual salary of $77,540. 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 region. While the nominal salary may seem lower, understanding the local economic landscape is crucial for a complete picture.
Executive Summary
- Average Salary: $77,540 per year.
- Growth Trend: Salaries have shifted 11.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $123,930.
- Outlook: With a local workforce of 22,870 individuals employed in Business and Financial Operations, and a Location Quotient of 0.81, the job market in Knoxville indicates a presence that is slightly less concentrated than the national average. This suggests a stable, albeit not exceptionally high, demand for these roles, with ample opportunities for skilled professionals to find employment within the existing economic structure.
Salary Overview
The average Business and Financial Operations Occupations in Knoxville, TN earns-18.0%below the national average.
$37.3
$1,491
$6,462
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for Knoxville's Business and Financial Operations sector isn't provided, it's reasonable to assume a general trend of salary growth mirroring national patterns over the past four years. Economic recovery, inflation, and increasing demand for financial expertise likely contribute to a gradual upward trajectory in compensation for these roles, even if local market dynamics moderate the pace.
Business and Financial Operations Occupations Salary Distribution in Knoxville, TN
Within the Business and Financial Operations field, salary progression is typically tied to experience and specialization. Entry-level positions often start at the lower end of the pay scale, while seasoned professionals with advanced skills and leadership responsibilities can command significantly higher salaries, potentially reaching the upper percentiles. The gap between entry-level and senior roles highlights the substantial career growth and earning potential available.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $41,370 | $19.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $58,155 | $28 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $68,810 | $33.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $96,925 | $46.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $123,930 | $59.6 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$77,540
Gross Pay
Real Wage (Purchasing Power)
$77,540
Adjusted for COL (100)
The average annual salary of $77,540 in Knoxville, TN, 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, making the nominal salary figure a fair representation of living expenses. Residents can expect their income to cover typical costs without significant strain compared to the rest of the country.
Job Market Context
22,870
Total Jobs
54.699
Per 1K Jobs
0.81
Location Quotient
Knoxville, TN has 0.81x 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 0.81 for Business and Financial Operations Occupations in Knoxville signifies that this sector is slightly less prevalent in Knoxville compared to the national average. This suggests a moderately competitive job market where demand exists but is not overwhelmingly saturated, offering a balanced environment for job seekers and employers alike.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Morristown, TN Business and Financial Operations Occupations Salary | $66,240↓ 15% | 40 mi |
| Cleveland, TN Business and Financial Operations Occupations Salary | $70,500↓ 9% | 75 mi |
| Asheville, NC Business and Financial Operations Occupations Salary | $80,330↑ 4% | 83 mi |
| Kingsport-Bristol, TN-VA Business and Financial Operations Occupations Salary | $78,040↑ 1% | 87 mi |
| Johnson City, TN Business and Financial Operations Occupations Salary | $70,860↓ 9% | 91 mi |
Comparing salaries near Knoxville, TN
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Knoxville, TN?
The median annual salary for a Business and Financial Operations Occupations in Knoxville, TN is $77,540. This typically ranges from $41,370 for entry-level positions to $123,930 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Knoxville, TN is 18.0% lower than the national median of $94,590.
Is Knoxville, TN a lucrative place for Business and Financial Operations Occupationss?
No, not exceptionally lucrative compared to the national average.The average salary of $77,540 is below the national average of $94,590, although the cost of living is on par with the national average.
Is Knoxville, TN a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Knoxville, TN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Knoxville, TN?
Some top paying nearby cities include Morristown, TN ($66,240) and Cleveland, TN.
How does Knoxville's Business and Financial Operations job market compare nationally?
Knoxville's market is slightly less concentrated than the national average, with a Location Quotient of 0.81, indicating a stable but not dominant presence of these roles.
What is the cost of living in Knoxville, TN for these professionals?
The cost of living in Knoxville is exactly at the national average (index of 100), meaning your salary's purchasing power is comparable to the national standard.
How many Business and Financial Operations jobs are there per 1,000 workers in Knoxville?
There are approximately 54.7 jobs per 1,000 workers in Business and Financial Operations in Knoxville, TN.
What is the total workforce size for Business and Financial Operations in Knoxville?
The total local workforce for Business and Financial Operations Occupations in Knoxville, TN, is 22,870 individuals.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 22,870 employees in the Knoxville, TN area with a job density of 54.699 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 Knoxville, TN