Average Business and Financial Operations Occupations Salary in Minnesota
In Minnesota, professionals in Business and Financial Operations Occupations earn an average annual salary of $93,560. This figure is slightly below the national average of $94,590, suggesting localized economic factors and industry demand play a role in compensation within the state. While the nominal salary is close to the national benchmark, understanding the cost of living is crucial for assessing true earning potential.
Executive Summary
- Average Salary: $93,560 per year.
- Growth Trend: Salaries have shifted 16.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $136,840.
- Outlook: Minnesota boasts a substantial workforce of 208,210 individuals in Business and Financial Operations Occupations, with 71.294 jobs per 1,000 workers. The Location Quotient of 1.06 indicates a slightly higher concentration of these roles compared to the national average, signaling a robust and potentially growing demand for these professionals within the state's economy.
Salary Overview
The average Business and Financial Operations Occupations in Minnesota earns-1.1%below the national average.
$45
$1,799
$7,797
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that salaries for Business and Financial Operations Occupations in Minnesota have experienced steady growth over the past four years, mirroring national trends. This upward trajectory 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 Minnesota
Salary progression within Business and Financial Operations Occupations in Minnesota is significantly influenced by experience. Entry-level positions typically command lower salaries, while senior roles and specialized expertise can lead to substantially higher compensation packages. The widening gap between lower and higher salary percentiles reflects the clear career advancement opportunities and the value placed on seasoned professionals in the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $52,150 | $25.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $70,170 | $33.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $82,220 | $39.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $116,950 | $56.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $136,840 | $65.8 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$93,560
Gross Pay
Real Wage (Purchasing Power)
$99,110
Adjusted for COL (94.4)
With an average annual salary of $93,560 and a Cost of Living Index of 94.4 (meaning it's 5.6% cheaper than the national average), Minnesota offers a favorable economic environment. The nominal salary holds strong purchasing power relative to the cost of goods and services, making it an attractive location for financial professionals seeking financial well-being.
Job Market Context
208,210
Total Jobs
71.294
Per 1K Jobs
1.06
Location Quotient
With a location quotient of 1.06, Minnesota has a slightly higher-than-average concentration of Business and Financial Operations Occupations roles compared to the national norm.
Minnesota's Location Quotient of 1.06 for Business and Financial Operations Occupations suggests a market that is slightly more concentrated than the national average. This indicates a healthy presence and potentially strong demand for these roles, implying a competitive yet accessible job market for skilled professionals in this sector.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| St. Cloud, MN Business and Financial Operations Occupations Salary | $82,800↓ 12% | 17 mi |
| Minneapolis-St. Paul-Bloomington, MN-WI Business and Financial Operations Occupations Salary | $96,880↑ 4% | 58 mi |
Comparing salaries near Minnesota
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Minnesota?
The median annual salary for a Business and Financial Operations Occupations in Minnesota is $93,560. This typically ranges from $52,150 for entry-level positions to $136,840 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Minnesota is 1.1% lower than the national median of $94,590.
Is Minnesota a lucrative place for Business and Financial Operations Occupationss?
Yes, Minnesota offers a competitive landscape for these professionals.The state's average salary is closely aligned with the national average, and its cost of living is below the national index, enhancing the real value of earnings.
Is Minnesota a good place to live for Business and Financial Operations Occupations?
With a Cost of Living Index of 94.4 (lower than the national average of 100), your salary goes further here.
Where are the highest paying cities near Minnesota?
Some top paying nearby cities include St. Cloud, MN ($82,800) and Minneapolis-St. Paul-Bloomington, MN-WI.
How does Minnesota's average salary compare to the national average for this field?
The average annual salary in Minnesota for Business and Financial Operations Occupations is $93,560, which is slightly lower than the national average of $94,590.
What is the concentration of Business and Financial Operations jobs in Minnesota?
Minnesota has a Location Quotient of 1.06, indicating a slightly higher concentration of these jobs compared to the national average.
How does the cost of living in Minnesota affect salary perception?
With a Cost of Living Index of 94.4, Minnesota is more affordable than the national average, meaning the $93,560 salary offers greater purchasing power.
What is the total workforce size for these occupations in Minnesota?
There are 208,210 individuals employed in Business and Financial Operations Occupations in Minnesota.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 208,210 employees in the Minnesota area with a job density of 71.294 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 Minnesota