Average Business and Financial Operations Occupations Salary in Lafayette, LA
In Lafayette, LA, professionals in Business and Financial Operations Occupations earn an average annual salary of $71,740. This figure is notably below the national average of $94,590, reflecting regional economic factors and industry demand specific to the Lafayette area. The local market dynamics, including industry concentration and the overall economic landscape, play a significant role in shaping compensation levels for these vital roles.
Executive Summary
- Average Salary: $71,740 per year.
- Growth Trend: Salaries have shifted 18.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $117,020.
- Outlook: The Business and Financial Operations sector in Lafayette, LA, comprises a workforce of 6,680 individuals, with 38.082 jobs per 1,000 workers. While the Location Quotient of 0.57 suggests a lower concentration compared to the national average, the substantial workforce indicates a consistent presence and ongoing need for these professionals. This suggests a stable, albeit not hyper-concentrated, job market for those in financial and operational roles within the region.
Salary Overview
The average Business and Financial Operations Occupations in Lafayette, LA earns-24.2%below the national average.
$34.5
$1,380
$5,978
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for Lafayette's Business and Financial Operations sector is not provided, it is reasonable to assume a general trend of salary growth mirroring national patterns over the past four years. Economic recovery, inflation, and increasing demand for specialized financial skills typically drive upward adjustments in compensation. Professionals in this field can generally expect their earning potential to have seen incremental increases, aligning with broader economic trends and the evolving needs of businesses.
Business and Financial Operations Occupations Salary Distribution in Lafayette, LA
Salary progression within Business and Financial Operations Occupations in Lafayette, LA, is significantly influenced by experience and specialization. Entry-level positions typically command lower salaries, while seasoned professionals with extensive expertise and leadership responsibilities can expect substantially higher compensation. The widening gap between entry-level and senior-level salaries, often seen across different pay percentiles, clearly signifies robust career advancement opportunities and the increasing value placed on experience and specialized knowledge.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $36,990 | $17.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $53,805 | $25.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $61,970 | $29.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $89,675 | $43.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $117,020 | $56.3 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$71,740
Gross Pay
Real Wage (Purchasing Power)
$71,740
Adjusted for COL (100)
The average annual salary of $71,740 in Lafayette, LA, 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 $71,740 earned in Lafayette offers a comparable standard of living to what $94,590 might provide in a higher cost-of-living area.
Job Market Context
6,680
Total Jobs
38.082
Per 1K Jobs
0.57
Location Quotient
Lafayette, LA has 0.57x 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 0.57, the Business and Financial Operations sector in Lafayette, LA, is less concentrated than the national average. This indicates that while these roles are present and necessary, the market is not saturated with specialized talent compared to national benchmarks. This could present opportunities for skilled professionals, as demand may outstrip local supply in certain niche areas, potentially leading to competitive compensation for highly sought-after skills.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
Comparing salaries near Lafayette, LA
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Lafayette, LA?
The median annual salary for a Business and Financial Operations Occupations in Lafayette, LA is $71,740. This typically ranges from $36,990 for entry-level positions to $117,020 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Lafayette, LA is 24.2% lower than the national median of $94,590.
Is Lafayette, LA a lucrative place for Business and Financial Operations Occupationss?
No, not compared to the national average.The average salary of $71,740 is significantly lower than the national average of $94,590. However, the cost of living is also at the national average, meaning your earnings have equivalent purchasing power locally.
Is Lafayette, LA a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Lafayette, LA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Lafayette, LA?
Some top paying nearby cities include Baton Rouge, LA ($76,080) and Southwest Louisiana nonmetropolitan area.
How does the Lafayette salary compare to the national average?
The average salary for Business and Financial Operations Occupations in Lafayette, LA, is $71,740, which is considerably lower than the national average of $94,590.
What is the cost of living in Lafayette, LA?
Lafayette, LA, has a Cost of Living Index of 100, which is exactly the national average. This means the general cost of goods and services is comparable to the rest of the United States.
How many Business and Financial Operations jobs are there in Lafayette, LA?
There are approximately 6,680 individuals employed in Business and Financial Operations Occupations in Lafayette, LA, representing 38.082 jobs per 1,000 workers.
Is the job market for Business and Financial Operations professionals strong in Lafayette, LA?
The job market is stable, with a significant local workforce. However, the lower Location Quotient suggests it's not a primary hub for this sector nationally, indicating moderate competition and demand.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 6,680 employees in the Lafayette, LA area with a job density of 38.082 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 Lafayette, LA
- All Occupations Salary in Lafayette, LA
- Office and Administrative Support Occupations Salary in Lafayette, LA
- Sales and Related Occupations Salary in Lafayette, LA
- Food Preparation and Serving Related Occupations Salary in Lafayette, LA
- Transportation and Material Moving Occupations Salary in Lafayette, LA
- Healthcare Practitioners and Technical Occupations Salary in Lafayette, LA
- Production Occupations Salary in Lafayette, LA
- Management Occupations Salary in Lafayette, LA
- Construction and Extraction Occupations Salary in Lafayette, LA
- Healthcare Support Occupations Salary in Lafayette, LA
- Browse All Jobs in Lafayette, LA →
Semantic Salary Analysis for Business and Financial Operations Occupations • Data source: BLS OEWS 2024 •Jobs in Lafayette, LA