Average Business and Financial Operations Occupations Salary in Lexington-Fayette, KY
In Lexington-Fayette, KY, professionals in Business and Financial Operations Occupations earn an average annual salary of $78,470. 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. The specific pay scales are often influenced by the concentration of these roles and the overall economic landscape of the area.
Executive Summary
- Average Salary: $78,470 per year.
- Growth Trend: Salaries have shifted 14.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $120,090.
- Outlook: With a total local workforce of 13,280 individuals employed in Business and Financial Operations Occupations, Lexington-Fayette demonstrates a substantial presence in this sector. The Location Quotient of 0.7 indicates that these roles are slightly less concentrated here compared to the national average, implying a moderate but not overwhelmingly dominant demand for these specialized skills within the local economy.
Salary Overview
The average Business and Financial Operations Occupations in Lexington-Fayette, KY earns-17.0%below the national average.
$37.7
$1,509
$6,539
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that salaries for Business and Financial Operations Occupations in Lexington-Fayette, KY have experienced a steady upward trend over the past four years, mirroring national economic growth and increasing demand for financial expertise. This growth is likely driven by evolving business needs and the continuous need for skilled professionals in financial analysis, management, and operational strategy.
Business and Financial Operations Occupations Salary Distribution in Lexington-Fayette, KY
Salary progression within Business and Financial Operations Occupations in Lexington-Fayette, KY, typically scales significantly with experience. Entry-level positions may start at a lower percentile, while seasoned professionals with specialized skills and a proven track record can command salaries well above the average. The widening gap between entry-level and senior-level compensation reflects the value placed on experience and expertise in this field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $43,970 | $21.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $58,853 | $28.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $72,000 | $34.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $98,088 | $47.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $120,090 | $57.7 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$78,470
Gross Pay
Real Wage (Purchasing Power)
$78,470
Adjusted for COL (100)
The average annual salary of $78,470 in Lexington-Fayette, KY, aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of the salary in this region is comparable to the national average, offering a balanced lifestyle without significant financial strain related to everyday expenses.
Job Market Context
13,280
Total Jobs
46.93
Per 1K Jobs
0.7
Location Quotient
Lexington-Fayette, KY has 0.70x 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 0.7 for Business and Financial Operations Occupations in Lexington-Fayette, KY, suggests that the job market is less concentrated than the national average. This indicates that while there is a stable presence of these roles, the market may be less competitive, potentially offering more opportunities for skilled professionals to find positions without facing the intense competition found in more saturated areas.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
Comparing salaries near Lexington-Fayette, KY
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Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Lexington-Fayette, KY?
The median annual salary for a Business and Financial Operations Occupations in Lexington-Fayette, KY is $78,470. This typically ranges from $43,970 for entry-level positions to $120,090 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Lexington-Fayette, KY is 17.0% lower than the national median of $94,590.
Is Lexington-Fayette, KY a lucrative place for Business and Financial Operations Occupationss?
No, not when compared to the national average.The average salary of $78,470 is below the national average of $94,590, although the cost of living is on par with the national average.
Is Lexington-Fayette, KY a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Lexington-Fayette, KY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Lexington-Fayette, KY?
Some top paying nearby cities include Central Kentucky nonmetropolitan area ($69,470) and South Central Kentucky nonmetropolitan area.
How does the number of jobs per 1,000 workers compare nationally?
With 46.93 jobs per 1,000 workers in Business and Financial Operations Occupations, Lexington-Fayette, KY has a slightly lower concentration than the national average, indicating a moderate presence of these roles.
What is the significance of the Location Quotient (LQ) of 0.7?
An LQ of 0.7 means that Business and Financial Operations Occupations are 30% less concentrated in Lexington-Fayette, KY, compared to the national average, suggesting a less saturated but still present job market.
How does the cost of living in Lexington-Fayette, KY affect salary perception?
With a Cost of Living Index of 100, the local cost of living matches the national average, meaning the $78,470 salary offers standard purchasing power relative to the rest of the country.
What is the total workforce size for these occupations in Lexington-Fayette, KY?
The total local workforce for Business and Financial Operations Occupations in Lexington-Fayette, KY, comprises 13,280 individuals, reflecting a significant segment of the regional employment landscape.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 13,280 employees in the Lexington-Fayette, KY area with a job density of 46.93 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 Lexington-Fayette, KY