Average Business and Financial Operations Occupations Salary in New Mexico
In New Mexico, professionals in Business and Financial Operations Occupations earn an average annual salary of $83,650. This figure is notably lower than the national average of $94,590, reflecting regional economic factors and the specific demand within the state's business landscape. The unique economic drivers and industry concentrations in New Mexico directly influence compensation levels for these critical roles.
Executive Summary
- Average Salary: $83,650 per year.
- Growth Trend: Salaries have shifted 14.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $133,260.
- Outlook: New Mexico's market for Business and Financial Operations Occupations is substantial, with a local workforce of 47,650 individuals. The location quotient of 0.82 suggests a slightly lower concentration of these roles compared to the national average, indicating a stable yet not overly saturated job market. With 55.353 jobs per 1,000 workers, the presence of these professionals is consistent with broader economic activity.
Salary Overview
The average Business and Financial Operations Occupations in New Mexico earns-11.6%below the national average.
$40.2
$1,609
$6,971
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 New Mexico have experienced growth over the past four years, mirroring national trends. Economic development initiatives and evolving business needs likely contribute to a steady upward trajectory in compensation, driven by increased demand for financial expertise and operational efficiency.
Business and Financial Operations Occupations Salary Distribution in New Mexico
Salary progression within Business and Financial Operations Occupations in New Mexico typically scales significantly with experience. Entry-level positions will naturally command lower salaries, while senior roles requiring extensive expertise and leadership responsibilities will see substantially higher compensation. The widening gap between entry-level and senior-level salaries signifies clear career advancement opportunities and the increasing value placed on seasoned professionals in the state.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $46,030 | $22.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $62,738 | $30.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $75,940 | $36.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $104,563 | $50.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $133,260 | $64.1 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$83,650
Gross Pay
Real Wage (Purchasing Power)
$93,359
Adjusted for COL (89.6)
The average annual salary of $83,650 in New Mexico presents a favorable financial outlook when considered against the state's Cost of Living Index of 89.6. This index, which is below the national average of 100, means that the nominal salary earned can translate into a higher effective purchasing power. Consequently, the $83,650 salary may offer a comparable or even improved standard of living compared to higher-paying regions with a significantly higher cost of living.
Job Market Context
47,650
Total Jobs
55.353
Per 1K Jobs
0.82
Location Quotient
New Mexico has 0.82x 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 0.82, New Mexico exhibits a slightly lower concentration of Business and Financial Operations Occupations compared to the national average. This suggests that while these roles are present and vital to the state's economy, the market may be less competitive than in areas with a higher concentration. Opportunities may exist for skilled professionals to establish themselves, though the overall demand might be more moderate.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Albuquerque, NM Business and Financial Operations Occupations Salary | $85,950↑ 3% | 29 mi |
| Santa Fe, NM Business and Financial Operations Occupations Salary | $73,950↓ 12% | 59 mi |
Comparing salaries near New Mexico
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in New Mexico?
The median annual salary for a Business and Financial Operations Occupations in New Mexico is $83,650. This typically ranges from $46,030 for entry-level positions to $133,260 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in New Mexico is 11.6% lower than the national median of $94,590.
Is New Mexico a lucrative place for Business and Financial Operations Occupationss?
Yes, with a caveat regarding cost of living.While the average salary of $83,650 is below the national average, New Mexico's lower cost of living index of 89.6 enhances the purchasing power of this salary. This makes it a financially viable location for these professionals.
Is New Mexico a good place to live for Business and Financial Operations Occupations?
With a Cost of Living Index of 89.6 (lower than the national average of 100), your salary goes further here.
Where are the highest paying cities near New Mexico?
Some top paying nearby cities include Albuquerque, NM ($85,950) and Santa Fe, NM.
How does New Mexico's average salary compare to the national average for this field?
The average annual salary in New Mexico for Business and Financial Operations Occupations is $83,650, which is lower than the national average of $94,590.
What is the total workforce size for these occupations in New Mexico?
The total local workforce for Business and Financial Operations Occupations in New Mexico is 47,650 individuals.
How concentrated are Business and Financial Operations jobs in New Mexico compared to the rest of the country?
New Mexico has a Location Quotient of 0.82 for these occupations, indicating a slightly lower concentration than the national average.
What does the Cost of Living Index of 89.6 mean for salaries in New Mexico?
A Cost of Living Index of 89.6 means that the cost of goods and services in New Mexico is approximately 10.4% lower than the national average, making the $83,650 salary more valuable.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 47,650 employees in the New Mexico area with a job density of 55.353 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 New Mexico