Average Business and Financial Operations Occupations Salary in Lima, OH
In Lima, OH, professionals in Business and Financial Operations Occupations can expect an average annual salary of $76,460. 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 levels within this region. The specific economic landscape and the concentration of businesses requiring these specialized roles contribute to this localized pay scale.
Executive Summary
- Average Salary: $76,460 per year.
- Growth Trend: Salaries have shifted 8.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $122,700.
- Outlook: The job market for Business and Financial Operations Occupations in Lima, OH, comprises a workforce of 1,910 individuals. With a Location Quotient of 0.57, this sector is less concentrated than the national average, indicating a moderate demand relative to the overall job market. The presence of nearly 39 jobs per 1,000 workers suggests a steady, albeit not booming, presence of these roles within the local economy.
Salary Overview
The average Business and Financial Operations Occupations in Lima, OH earns-19.2%below the national average.
$36.8
$1,470
$6,372
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for Lima, OH, is not provided, it is generally assumed that salaries for Business and Financial Operations Occupations have seen incremental growth over the past four years, mirroring national trends. Economic recovery, inflation, and increasing demand for financial expertise likely contribute to a gradual upward trajectory in compensation, even in regions with lower average salaries.
Business and Financial Operations Occupations Salary Distribution in Lima, OH
Career progression within Business and Financial Operations Occupations typically involves a significant salary increase from entry-level to senior positions. While specific percentile data for Lima, OH, is unavailable, the typical career path sees substantial gains as experience and responsibility grow. The gap between entry-level and senior roles signifies opportunities for advancement and higher earning potential, driven by specialized skills and leadership capabilities.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $41,440 | $19.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $57,345 | $27.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $69,030 | $33.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $95,575 | $45.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $122,700 | $59 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$76,460
Gross Pay
Real Wage (Purchasing Power)
$76,460
Adjusted for COL (100)
The average annual salary of $76,460 in Lima, OH, 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 is equivalent to the national standard. Therefore, relocating to Lima, OH, for these roles offers a stable financial footing in terms of everyday expenses.
Job Market Context
1,910
Total Jobs
38.497
Per 1K Jobs
0.57
Location Quotient
Lima, OH 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 market for Business and Financial Operations Occupations in Lima, OH, is less concentrated than the national average. This suggests that while these roles are present, they are not as abundant or in as high demand relative to the total workforce compared to national benchmarks. This could imply a less competitive job market for employers seeking talent, but potentially fewer opportunities for job seekers.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
Comparing salaries near Lima, OH
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Lima, OH?
The median annual salary for a Business and Financial Operations Occupations in Lima, OH is $76,460. This typically ranges from $41,440 for entry-level positions to $122,700 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Lima, OH is 19.2% lower than the national median of $94,590.
Is Lima, OH a lucrative place for Business and Financial Operations Occupationss?
No, not compared to the national average.The average salary of $76,460 is significantly lower than the national average of $94,590. However, the cost of living is also at the national average, meaning the purchasing power is equivalent.
Is Lima, OH a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Lima, OH is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Lima, OH?
Some top paying nearby cities include Springfield, OH ($70,130) and Fort Wayne, IN.
How does Lima, OH compare to the national average salary for this field?
The average salary in Lima, OH, is $76,460, which is approximately 19% lower than the national average of $94,590 for Business and Financial Operations Occupations.
What is the Cost of Living in Lima, OH?
Lima, OH, has a Cost of Living Index of 100, which is exactly the national average. This means that the general cost of goods and services is comparable to the rest of the United States.
How concentrated are Business and Financial Operations jobs in Lima, OH?
The Location Quotient of 0.57 indicates that these occupations are less concentrated in Lima, OH, than the national average, suggesting a smaller proportion of the local workforce is employed in this sector.
What is the total number of Business and Financial Operations workers in Lima, OH?
There are 1,910 individuals employed in Business and Financial Operations Occupations in Lima, OH, representing a significant portion of the local professional workforce.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,910 employees in the Lima, OH area with a job density of 38.497 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 Lima, OH