Average Business and Financial Operations Occupations Salary in Mankato, MN
In Mankato, MN, professionals in Business and Financial Operations Occupations earn an average annual salary of $78,870. 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. While the nominal salary is lower, understanding the local cost of living is crucial for a complete financial picture.
Executive Summary
- Average Salary: $78,870 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $117,400.
- Outlook: Mankato supports a local workforce of 2,550 individuals within Business and Financial Operations Occupations. The location quotient of 0.69 indicates that this sector is less concentrated in Mankato compared to the national average, suggesting a potentially less saturated but also potentially less robust job market for these roles. With approximately 46 jobs per 1,000 workers, the presence of this workforce indicates a consistent, albeit not dominant, demand for these essential business functions.
Salary Overview
The average Business and Financial Operations Occupations in Mankato, MN earns-16.6%below the national average.
$37.9
$1,517
$6,573
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for Mankato's Business and Financial Operations Occupations is not provided, it is generally assumed that salaries in this sector have experienced steady growth over the past four years, mirroring national trends. Economic recovery, inflation, and increasing demand for financial expertise likely contribute to upward pressure on wages, even in regional markets. This suggests that while current averages may be below the national benchmark, the trajectory for earning potential in Mankato is likely positive.
Business and Financial Operations Occupations Salary Distribution in Mankato, MN
Career progression within Business and Financial Operations Occupations typically sees a significant salary increase with experience. Entry-level positions might start considerably lower than the $78,870 average, while senior roles, such as financial managers or chief financial officers, can command salaries well exceeding this figure. The percentile gaps in salary distribution highlight the substantial earning potential for seasoned professionals who have developed specialized skills and leadership capabilities.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $48,330 | $23.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $59,153 | $28.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $73,460 | $35.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $98,588 | $47.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $117,400 | $56.4 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$78,870
Gross Pay
Real Wage (Purchasing Power)
$78,870
Adjusted for COL (100)
The average annual salary of $78,870 in Mankato, MN, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of the average salary in Mankato is equivalent to the national average. While the nominal income is lower than the national average for this occupation, the cost of living does not present a disadvantage, making the $78,870 salary effectively comparable in terms of real income.
Job Market Context
2,550
Total Jobs
45.998
Per 1K Jobs
0.69
Location Quotient
Mankato, MN has 0.69x 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 0.69, Business and Financial Operations Occupations are less concentrated in Mankato, MN, than the national average. This suggests that the job market for these roles may be less competitive, potentially offering more opportunities for skilled professionals to find employment. However, it also indicates that the industry is not a primary economic driver in the region, which could influence the overall volume and diversity of available positions compared to more concentrated national hubs.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Minneapolis-St. Paul-Bloomington, MN-WI Business and Financial Operations Occupations Salary | $96,880↑ 23% | 66 mi |
| Rochester, MN Business and Financial Operations Occupations Salary | $92,940↑ 18% | 75 mi |
| St. Cloud, MN Business and Financial Operations Occupations Salary | $82,800↑ 5% | 95 mi |
Comparing salaries near Mankato, MN
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Mankato, MN?
The median annual salary for a Business and Financial Operations Occupations in Mankato, MN is $78,870. This typically ranges from $48,330 for entry-level positions to $117,400 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Mankato, MN is 16.6% lower than the national median of $94,590.
Is Mankato, MN a lucrative place for Business and Financial Operations Occupationss?
No, not compared to the national average.While the cost of living is average, the average salary of $78,870 is significantly lower than the national average of $94,590 for these roles. The lower location quotient also suggests less industry concentration.
Is Mankato, MN a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Mankato, MN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Mankato, MN?
Some top paying nearby cities include Minneapolis-St. Paul-Bloomington, MN-WI ($96,880) and Rochester, MN.
How does Mankato's salary compare to the national average for Business and Financial Operations?
The average salary in Mankato is $78,870, which is below the national average of $94,590 for Business and Financial Operations Occupations.
What is the Cost of Living in Mankato, MN?
Mankato, MN 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 concentrated are Business and Financial Operations jobs in Mankato?
The concentration of these jobs in Mankato, indicated by a Location Quotient of 0.69, is lower than the national average. This suggests the field is less prevalent in Mankato compared to the rest of the country.
What is the total workforce size for Business and Financial Operations in Mankato?
There are approximately 2,550 individuals employed in Business and Financial Operations Occupations in Mankato, MN.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 2,550 employees in the Mankato, MN area with a job density of 45.998 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 Mankato, MN