Average Business and Financial Operations Occupations Salary in Monroe, MI
In Monroe, Michigan, professionals in Business and Financial Operations Occupations earn an average annual salary of $84,340. This figure is notably below the national average of $94,590, suggesting localized economic factors and industry demand play a significant role in compensation within this region. The specific economic landscape and the concentration of businesses requiring these specialized skills in Monroe contribute to this pay differential.
Executive Summary
- Average Salary: $84,340 per year.
- Growth Trend: Salaries have shifted 20.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $128,070.
- Outlook: The local workforce for Business and Financial Operations Occupations in Monroe, MI, comprises 1,660 individuals. While this represents a substantial segment of the local economy, the Location Quotient of 0.61 indicates that these roles are less concentrated here compared to the national average. This suggests a moderate but not overwhelmingly saturated job market, offering potential opportunities for skilled professionals.
Salary Overview
The average Business and Financial Operations Occupations in Monroe, MI earns-10.8%below the national average.
$40.6
$1,622
$7,028
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for Monroe, MI is not provided, it is reasonable to assume that salaries for Business and Financial Operations Occupations have seen consistent growth over the past four years, mirroring national trends. Economic recovery, inflation, and increasing demand for financial expertise typically drive upward salary adjustments across most sectors and regions.
Business and Financial Operations Occupations Salary Distribution in Monroe, MI
Experience significantly influences earning potential within Business and Financial Operations. Entry-level positions typically start at the lower end of the salary spectrum, while seasoned professionals with specialized skills and a proven track record can command substantially higher compensation. The percentile gaps in salary distributions clearly signify the career progression and increased value senior roles bring to organizations.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $42,250 | $20.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $63,255 | $30.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $76,720 | $36.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $105,425 | $50.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $128,070 | $61.6 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$84,340
Gross Pay
Real Wage (Purchasing Power)
$84,340
Adjusted for COL (100)
For individuals considering a move to Monroe, MI, the average salary of $84,340 aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of the local salary is equivalent to the national average, offering a stable financial environment without the added pressure of higher or lower living expenses.
Job Market Context
1,660
Total Jobs
40.733
Per 1K Jobs
0.61
Location Quotient
Monroe, MI has 0.61x 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.
A Location Quotient of 0.61 for Business and Financial Operations Occupations in Monroe, MI, indicates that this sector is less prevalent than the national average. This suggests that while opportunities exist, the market may be less competitive in terms of the sheer number of available professionals compared to national hubs, potentially offering an advantage to those seeking employment.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Toledo, OH Business and Financial Operations Occupations Salary | $80,450↓ 5% | 20 mi |
| Ann Arbor, MI Business and Financial Operations Occupations Salary | $87,710↑ 4% | 31 mi |
| Detroit-Warren-Dearborn, MI Business and Financial Operations Occupations Salary | $89,810↑ 6% | 34 mi |
| Sandusky, OH Business and Financial Operations Occupations Salary | $77,990↓ 8% | 48 mi |
| Jackson, MI Business and Financial Operations Occupations Salary | $77,580↓ 8% | 57 mi |
Comparing salaries near Monroe, MI
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Monroe, MI?
The median annual salary for a Business and Financial Operations Occupations in Monroe, MI is $84,340. This typically ranges from $42,250 for entry-level positions to $128,070 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Monroe, MI is 10.8% lower than the national median of $94,590.
Is Monroe, MI a lucrative place for Business and Financial Operations Occupationss?
No, not exceptionally lucrative compared to the national average.The average salary of $84,340 in Monroe, MI, is below the national average of $94,590, indicating lower earning potential in this specific region. However, the cost of living being at the national average provides a balanced financial standing.
Is Monroe, MI a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Monroe, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Monroe, MI?
Some top paying nearby cities include Toledo, OH ($80,450) and Ann Arbor, MI.
What is the average salary for Business and Financial Operations Occupations in Monroe, MI?
The average annual salary for Business and Financial Operations Occupations in Monroe, MI, is $84,340.
How does Monroe, MI's salary compare to the national average?
The average salary in Monroe, MI ($84,340) is lower than the national average ($94,590) for Business and Financial Operations Occupations.
What is the Cost of Living in Monroe, MI?
The Cost of Living Index in Monroe, MI, is 100, which is exactly the national average.
How concentrated are Business and Financial Operations jobs in Monroe, MI?
The concentration of these jobs, indicated by a Location Quotient of 0.61, is below the national average, suggesting fewer specialized roles relative to the overall workforce compared to national trends.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,660 employees in the Monroe, MI area with a job density of 40.733 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 Monroe, MI
- All Occupations Salary in Monroe, MI
- Production Occupations Salary in Monroe, MI
- Transportation and Material Moving Occupations Salary in Monroe, MI
- Food Preparation and Serving Related Occupations Salary in Monroe, MI
- Office and Administrative Support Occupations Salary in Monroe, MI
- Sales and Related Occupations Salary in Monroe, MI
- Educational Instruction and Library Occupations Salary in Monroe, MI
- Management Occupations Salary in Monroe, MI
- Installation, Maintenance, and Repair Occupations Salary in Monroe, MI
- Healthcare Practitioners and Technical Occupations Salary in Monroe, MI
- Browse All Jobs in Monroe, MI →
Semantic Salary Analysis for Business and Financial Operations Occupations • Data source: BLS OEWS 2024 •Jobs in Monroe, MI