Average Business and Financial Operations Occupations Salary in Madison, WI
In Madison, WI, professionals in Business and Financial Operations Occupations earn an average annual salary of $87,950. This figure is slightly below the national average of $94,590, indicating a localized compensation structure influenced by regional economic factors and industry demand within the state. While the nominal salary may appear lower, understanding the local economic landscape is crucial for a complete picture.
Executive Summary
- Average Salary: $87,950 per year.
- Growth Trend: Salaries have shifted 20.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $129,020.
- Outlook: Madison, WI boasts a robust presence of Business and Financial Operations professionals, with a total local workforce of approximately 33,000 individuals. The Location Quotient of 1.21 signifies a concentration of these roles that is 21% higher than the national average, suggesting a strong and established demand for these specialized skills within the region's economy.
Salary Overview
The average Business and Financial Operations Occupations in Madison, WI earns-7.0%below the national average.
$42.3
$1,691
$7,329
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Business and Financial Operations Occupations in Madison, WI 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.
Business and Financial Operations Occupations Salary Distribution in Madison, WI
Career progression within Business and Financial Operations Occupations in Madison, WI, typically sees a significant salary increase with experience. Entry-level positions might start closer to the lower percentiles, while senior roles and specialized expertise can command salaries well into the upper percentiles, reflecting the value of accumulated knowledge and leadership capabilities.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $52,120 | $25.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $65,963 | $31.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $79,370 | $38.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $109,938 | $52.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $129,020 | $62 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$87,950
Gross Pay
Real Wage (Purchasing Power)
$87,950
Adjusted for COL (100)
The average annual salary of $87,950 in Madison, WI aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of the salary in Madison is equivalent to the national average, suggesting that while the nominal pay is slightly lower than the national average for this occupation, the cost of living does not diminish its real value.
Job Market Context
33,000
Total Jobs
81.399
Per 1K Jobs
1.21
Location Quotient
With a location quotient of 1.21, Madison, WI has a slightly higher-than-average concentration of Business and Financial Operations Occupations roles compared to the national norm.
With a Location Quotient of 1.21, Madison, WI demonstrates a notable concentration of Business and Financial Operations roles compared to the rest of the United States. This indicates a healthy and potentially competitive job market where employers actively seek these skills, offering opportunities for both new entrants and experienced professionals.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Janesville-Beloit, WI Business and Financial Operations Occupations Salary | $80,320↓ 9% | 33 mi |
| Rockford, IL Business and Financial Operations Occupations Salary | $75,060↓ 15% | 59 mi |
| Fond du Lac, WI Business and Financial Operations Occupations Salary | $82,800↓ 6% | 68 mi |
| Milwaukee-Waukesha, WI Business and Financial Operations Occupations Salary | $87,850↓ 0% | 72 mi |
| Oshkosh-Neenah, WI Business and Financial Operations Occupations Salary | $82,540↓ 6% | 77 mi |
Comparing salaries near Madison, WI
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Madison, WI?
The median annual salary for a Business and Financial Operations Occupations in Madison, WI is $87,950. This typically ranges from $52,120 for entry-level positions to $129,020 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Madison, WI is 7.0% lower than the national median of $94,590.
Is Madison, WI a lucrative place for Business and Financial Operations Occupationss?
Yes, with a balanced perspective. While the average salary is slightly below the national average, the cost of living is also at the national average, maintaining purchasing power.The average salary of $87,950 is competitive when considering the Cost of Living Index of 100. Furthermore, the higher-than-average concentration of these roles (LQ 1.21) suggests a strong local demand.
Is Madison, WI a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Madison, WI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Madison, WI?
Some top paying nearby cities include Janesville-Beloit, WI ($80,320) and Rockford, IL.
How does Madison's salary compare to the national average for this field?
The average annual salary for Business and Financial Operations Occupations in Madison, WI is $87,950, which is slightly lower than the national average of $94,590.
What is the concentration of Business and Financial Operations jobs in Madison, WI?
Madison, WI has a Location Quotient of 1.21 for these occupations, meaning the jobs are 21% more concentrated than the national average, indicating a strong local presence.
How does the cost of living in Madison affect the salary?
Madison's Cost of Living Index is 100, which is the national average. This means the $87,950 salary has the same purchasing power in Madison as the national average salary would have nationally.
What is the total workforce size for Business and Financial Operations in Madison?
There are approximately 33,000 individuals employed in Business and Financial Operations Occupations within the Madison, WI workforce.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 33,000 employees in the Madison, WI area with a job density of 81.399 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 Madison, WI