Average Business and Financial Operations Occupations Salary in Michigan
In Michigan, professionals in Business and Financial Operations Occupations earn an average annual salary of $85,000. This figure is notably below the national average of $94,590, reflecting a combination of regional economic factors and the specific demand within the state's diverse industrial landscape. While lower than the national benchmark, this salary is influenced by Michigan's unique economic drivers and operational costs.
Executive Summary
- Average Salary: $85,000 per year.
- Growth Trend: Salaries have shifted 12.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $130,350.
- Outlook: Michigan boasts a substantial workforce of 268,210 individuals within Business and Financial Operations Occupations. With a Location Quotient of 0.91, the state's concentration of these roles is nearly on par with the national average, indicating a stable and significant presence in the job market. The rate of 61.088 jobs per 1,000 workers further underscores the consistent demand for these essential business functions across various Michigan industries.
Salary Overview
The average Business and Financial Operations Occupations in Michigan earns-10.1%below the national average.
$40.9
$1,635
$7,083
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 Michigan have experienced steady growth over the past four years, mirroring national trends. Economic expansion, inflation, and increasing demand for skilled professionals typically drive upward salary adjustments in this sector, suggesting a positive trajectory for compensation in the state.
Business and Financial Operations Occupations Salary Distribution in Michigan
Salary progression within Business and Financial Operations Occupations in Michigan is strongly tied to experience and specialization. Entry-level positions typically start at the lower end of the pay scale, while seasoned professionals with advanced skills and leadership responsibilities can command significantly higher salaries. The widening gap between entry-level and senior-level compensation reflects the increasing value placed on expertise and strategic financial acumen as careers advance.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $45,680 | $22 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $63,750 | $30.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $77,340 | $37.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $106,250 | $51.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $130,350 | $62.7 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$85,000
Gross Pay
Real Wage (Purchasing Power)
$93,819
Adjusted for COL (90.6)
The average annual salary of $85,000 in Michigan presents a favorable financial standing when considered against the state's Cost of Living Index of 90.6. This index indicates that the cost of goods and services is approximately 9.4% lower than the national average. Consequently, the purchasing power of an $85,000 salary in Michigan is effectively enhanced, allowing for a potentially higher standard of living compared to areas with a higher cost of living.
Job Market Context
268,210
Total Jobs
61.088
Per 1K Jobs
0.91
Location Quotient
Michigan has 0.91x 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 0.91, Michigan's market for Business and Financial Operations Occupations is closely aligned with the national average in terms of concentration. This suggests a competitive yet balanced job market where opportunities are readily available but not excessively saturated. Employers are likely seeking qualified candidates, and professionals can expect a steady flow of relevant job openings across the state.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Midland, MI Business and Financial Operations Occupations Salary | $87,570↑ 3% | 26 mi |
| Saginaw, MI Business and Financial Operations Occupations Salary | $75,640↓ 11% | 30 mi |
| Bay City, MI Business and Financial Operations Occupations Salary | $72,280↓ 15% | 37 mi |
| Lansing-East Lansing, MI Business and Financial Operations Occupations Salary | $79,720↓ 6% | 42 mi |
| Flint, MI Business and Financial Operations Occupations Salary | $76,360↓ 10% | 47 mi |
Comparing salaries near Michigan
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Michigan?
The median annual salary for a Business and Financial Operations Occupations in Michigan is $85,000. This typically ranges from $45,680 for entry-level positions to $130,350 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Michigan is 10.1% lower than the national median of $94,590.
Is Michigan a lucrative place for Business and Financial Operations Occupationss?
Yes, with a caveat regarding the national average.Michigan offers a solid average salary of $85,000, which is particularly advantageous given its Cost of Living Index of 90.6, making your earnings stretch further than the national average.
Is Michigan a good place to live for Business and Financial Operations Occupations?
With a Cost of Living Index of 90.6 (lower than the national average of 100), your salary goes further here.
Where are the highest paying cities near Michigan?
Some top paying nearby cities include Midland, MI ($87,570) and Saginaw, MI.
How does Michigan's average salary compare to the national average?
The average annual salary for Business and Financial Operations Occupations in Michigan is $85,000, which is below the national average of $94,590.
What is the concentration of Business and Financial Operations jobs in Michigan?
Michigan has a Location Quotient of 0.91 for these occupations, indicating a concentration that is slightly below the national average but still substantial.
How does the cost of living in Michigan affect salary perception?
With a Cost of Living Index of 90.6, Michigan is more affordable than the national average, meaning an $85,000 salary offers greater purchasing power locally.
What is the job density for these roles in Michigan?
There are approximately 61.088 jobs per 1,000 workers in Business and Financial Operations Occupations in Michigan, reflecting consistent demand.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 268,210 employees in the Michigan area with a job density of 61.088 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 Michigan
- All Occupations Salary in Michigan
- Office and Administrative Support Occupations Salary in Michigan
- Production Occupations Salary in Michigan
- Transportation and Material Moving Occupations Salary in Michigan
- Food Preparation and Serving Related Occupations Salary in Michigan
- Sales and Related Occupations Salary in Michigan
- Healthcare Practitioners and Technical Occupations Salary in Michigan
- Management Occupations Salary in Michigan
- Business and Financial Operations Occupations Salary in Michigan
- Educational Instruction and Library Occupations Salary in Michigan
- Browse All Jobs in Michigan →
Semantic Salary Analysis for Business and Financial Operations Occupations • Data source: BLS OEWS 2024 •Jobs in Michigan