Average Business and Financial Operations Occupations Salary in Massachusetts
Business and Financial Operations professionals in Massachusetts earn an impressive average annual salary of $106,290, significantly surpassing the national average of $94,590. This premium is largely driven by the state's robust economy, concentration of financial services, and demand for specialized expertise within its thriving industries.
Executive Summary
- Average Salary: $106,290 per year.
- Growth Trend: Salaries have shifted 16.2% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $166,180.
- Outlook: With a substantial local workforce of 292,590 individuals in Business and Financial Operations roles and a Location Quotient of 1.2, Massachusetts demonstrates a strong concentration of these professionals relative to the national average. This indicates a robust and established job market with sustained demand for talent in this sector.
Salary Overview
The average Business and Financial Operations Occupations in Massachusetts earns+12.4%above the national average.
$51.1
$2,044
$8,858
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 roles in Massachusetts have experienced consistent growth over the past four years, mirroring broader economic trends and increasing demand for skilled professionals in finance and business management within the state's dynamic economy.
Business and Financial Operations Occupations Salary Distribution in Massachusetts
Salary progression within Business and Financial Operations roles in Massachusetts typically scales significantly with experience. Entry-level positions may start closer to the lower percentiles, while senior and specialized roles command salaries in the upper percentiles, reflecting increased responsibility, expertise, and proven track records. The widening gap between lower and upper salary percentiles signifies clear career advancement opportunities.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $57,140 | $27.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $79,718 | $38.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $97,190 | $46.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $132,863 | $63.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $166,180 | $79.9 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$106,290
Gross Pay
Real Wage (Purchasing Power)
$71,624
Adjusted for COL (148.4)
The average annual salary of $106,290 in Massachusetts presents a complex picture when viewed against the state's Cost of Living Index of 148.4. While the nominal salary is considerably higher than the national average, the significantly elevated cost of living means that the purchasing power of this salary may be less than it appears, requiring careful budgeting and financial planning for residents.
Job Market Context
292,590
Total Jobs
80.325
Per 1K Jobs
1.2
Location Quotient
With a location quotient of 1.20, Massachusetts has a slightly higher-than-average concentration of Business and Financial Operations Occupations roles compared to the national norm.
The Location Quotient of 1.2 for Business and Financial Operations Occupations in Massachusetts indicates a higher concentration of these jobs compared to the national average. This suggests a competitive yet abundant job market, where demand for skilled professionals is strong, but the presence of many similar roles means employers have a good pool of talent to draw from.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Worcester, MA Business and Financial Operations Occupations Salary | $91,380↓ 14% | 14 mi |
| Boston-Cambridge-Newton, MA-NH Business and Financial Operations Occupations Salary | $109,010↑ 3% | 24 mi |
| Providence-Warwick, RI-MA Business and Financial Operations Occupations Salary | $91,060↓ 14% | 29 mi |
| Amherst Town-Northampton, MA Business and Financial Operations Occupations Salary | $84,170↓ 21% | 52 mi |
| Springfield, MA Business and Financial Operations Occupations Salary | $89,330↓ 16% | 52 mi |
Comparing salaries near Massachusetts
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Massachusetts?
The median annual salary for a Business and Financial Operations Occupations in Massachusetts is $106,290. This typically ranges from $57,140 for entry-level positions to $166,180 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Massachusetts is 12.4% higher than the national median of $94,590.
Is Massachusetts a lucrative place for Business and Financial Operations Occupationss?
Yes, Massachusetts is a lucrative state for Business and Financial Operations Occupations.Professionals in this field earn an average of $106,290 annually, significantly above the national average. This higher compensation reflects the state's strong economic drivers and demand for these specialized roles.
Is Massachusetts a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Massachusetts is 148.4. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Massachusetts?
Some top paying nearby cities include Worcester, MA ($91,380) and Boston-Cambridge-Newton, MA-NH.
How does the average salary compare to the national average?
The average annual salary for Business and Financial Operations Occupations in Massachusetts is $106,290, which is notably higher than the national average of $94,590.
What is the concentration of these jobs in Massachusetts?
Massachusetts has a Location Quotient of 1.2 for Business and Financial Operations Occupations, indicating a 20% higher concentration of these jobs compared to the national average.
How does the cost of living impact the salary?
With a Cost of Living Index of 148.4, Massachusetts is significantly more expensive than the national average. While the salary is high, the increased cost of living should be factored into the real value of earnings.
What is the total workforce size for these occupations in the state?
There are approximately 292,590 individuals employed in Business and Financial Operations Occupations within Massachusetts.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 292,590 employees in the Massachusetts area with a job density of 80.325 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 Massachusetts
- All Occupations Salary in Massachusetts
- Office and Administrative Support Occupations Salary in Massachusetts
- Management Occupations Salary in Massachusetts
- Business and Financial Operations Occupations Salary in Massachusetts
- Sales and Related Occupations Salary in Massachusetts
- Food Preparation and Serving Related Occupations Salary in Massachusetts
- Healthcare Practitioners and Technical Occupations Salary in Massachusetts
- Educational Instruction and Library Occupations Salary in Massachusetts
- Transportation and Material Moving Occupations Salary in Massachusetts
- Healthcare Support Occupations Salary in Massachusetts
- Browse All Jobs in Massachusetts →
Semantic Salary Analysis for Business and Financial Operations Occupations • Data source: BLS OEWS 2024 •Jobs in Massachusetts