Average Business and Financial Operations Occupations Salary in Kokomo, IN
In Kokomo, IN, professionals in Business and Financial Operations Occupations earn an average annual salary of $78,180. This figure is notably below the national average of $94,590, reflecting regional economic factors and industry demand specific to the Kokomo area. The local market dynamics, including the concentration of these roles and the overall economic landscape, play a significant part in shaping compensation levels.
Executive Summary
- Average Salary: $78,180 per year.
- Growth Trend: Salaries have shifted 19.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $122,100.
- Outlook: With a local workforce of 1,190 individuals in Business and Financial Operations, and a Location Quotient of 0.5, the job market in Kokomo indicates a lower concentration of these roles compared to the national average. While the number of jobs per 1,000 workers stands at 33.34, suggesting a presence, the lower LQ implies that opportunities might be less abundant or specialized than in larger metropolitan areas, potentially impacting career growth and demand.
Salary Overview
The average Business and Financial Operations Occupations in Kokomo, IN earns-17.3%below the national average.
$37.6
$1,503
$6,515
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for Kokomo's Business and Financial Operations sector is not provided, it is generally assumed that salaries within this field 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 complexity of business operations, suggesting a positive trajectory for compensation.
Business and Financial Operations Occupations Salary Distribution in Kokomo, IN
Salary progression within Business and Financial Operations Occupations in Kokomo, IN, is significantly influenced by experience. Entry-level positions typically start at the lower end of the pay scale, while seasoned professionals with specialized skills and a proven track record can command substantially higher salaries. The percentile gaps in earnings clearly signify career advancement opportunities, rewarding increased responsibility and expertise.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $39,900 | $19.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $58,635 | $28.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $72,550 | $34.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $97,725 | $47 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $122,100 | $58.7 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$78,180
Gross Pay
Real Wage (Purchasing Power)
$78,180
Adjusted for COL (100)
The average annual salary of $78,180 in Kokomo, IN, aligns perfectly with the national average Cost of Living Index of 100. This means that while the nominal salary is lower than the national average, the purchasing power of that salary locally is equivalent to the national average. Therefore, the $78,180 earned in Kokomo offers a comparable standard of living to what $78,180 would provide elsewhere in the country, making it a financially neutral relocation from a cost-of-living perspective.
Job Market Context
1,190
Total Jobs
33.34
Per 1K Jobs
0.5
Location Quotient
Kokomo, IN has 0.50x 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.
The Location Quotient of 0.5 for Business and Financial Operations Occupations in Kokomo, IN, signifies that these roles are less concentrated locally than the national average. This suggests a less competitive market in terms of the sheer number of professionals vying for these positions, but it also implies that the demand might be more niche or less robust compared to areas with a higher concentration. Companies may find it easier to recruit specialized talent, but the overall volume of opportunities could be limited.
Nearby Job Markets
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Comparing salaries near Kokomo, IN
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Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Kokomo, IN?
The median annual salary for a Business and Financial Operations Occupations in Kokomo, IN is $78,180. This typically ranges from $39,900 for entry-level positions to $122,100 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Kokomo, IN is 17.3% lower than the national median of $94,590.
Is Kokomo, IN a lucrative place for Business and Financial Operations Occupationss?
No, not exceptionally lucrative compared to national averages.The average salary of $78,180 is significantly lower than the national average of $94,590, and the lower Location Quotient suggests less market concentration. However, the cost of living is on par with the national average, which mitigates some of the salary disparity in terms of purchasing power.
Is Kokomo, IN a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Kokomo, IN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Kokomo, IN?
Some top paying nearby cities include Lafayette-West Lafayette, IN ($78,340) and Muncie, IN.
How does the cost of living in Kokomo, IN affect the salary?
With a Cost of Living Index of 100, Kokomo's cost of living is exactly at the national average. This means the $78,180 salary has the same purchasing power locally as the national average salary has nationally, making the lower nominal salary less impactful on daily expenses.
What does a Location Quotient of 0.5 mean for job seekers?
A Location Quotient of 0.5 indicates that Business and Financial Operations Occupations are half as concentrated in Kokomo, IN, as they are nationally. This could mean fewer job openings but potentially less competition for specialized roles.
How many Business and Financial Operations jobs are there per 1,000 workers in Kokomo, IN?
There are approximately 33.34 jobs per 1,000 workers in Business and Financial Operations Occupations in Kokomo, IN, providing a measure of the sector's prevalence within the local labor market.
Is the Business and Financial Operations job market in Kokomo, IN growing?
While specific growth data isn't provided, general economic trends suggest that salaries in this sector have likely seen growth over the past four years, driven by inflation and evolving business needs.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,190 employees in the Kokomo, IN area with a job density of 33.34 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 Kokomo, IN