Professionals in Business and Financial Operations in the New York-Newark-Jersey City, NY-NJ area earn a substantial average annual salary of $119,210. This figure significantly surpasses the national average of $94,590, indicating a strong demand and higher compensation for these critical roles within this major metropolitan hub. The concentration of financial institutions and corporate headquarters in this region directly influences the elevated pay scales.
Executive Summary
- Average Salary: $119,210 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $182,070.
- Outlook: The New York-Newark-Jersey City, NY-NJ area boasts a robust job market for Business and Financial Operations Occupations, evidenced by a total local workforce of 707,640 individuals. With a Location Quotient of 1.13, these roles are more concentrated here than the national average, suggesting a healthy and sustained demand for professionals in this sector within the region.
Salary Overview
The average Business and Financial Operations Occupations in New York-Newark-Jersey City, NY-NJ earns+26.0%above the national average.
$57.3
$2,293
$9,934
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the Business and Financial Operations sector in a dynamic market like New York-Newark-Jersey City has experienced consistent salary growth over the past four years. Economic expansion, evolving industry demands, and inflation typically drive upward trends in compensation for skilled professionals in this field.
Business and Financial Operations Occupations Salary Distribution in New York-Newark-Jersey City, NY-NJ
Salary progression for Business and Financial Operations roles in New York-Newark-Jersey City, NY-NJ typically scales significantly with experience. Entry-level positions may start closer to the lower percentiles, while seasoned professionals with specialized skills and extensive track records can command salaries in the upper percentiles. The widening gap between entry-level and senior roles reflects the value placed on expertise and leadership in this competitive market.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $60,760 | $29.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $89,408 | $43 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $102,390 | $49.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $149,013 | $71.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $182,070 | $87.5 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$119,210
Gross Pay
Real Wage (Purchasing Power)
$119,210
Adjusted for COL (100)
The average annual salary of $119,210 in the New York-Newark-Jersey City, NY-NJ area aligns perfectly with the national average Cost of Living Index of 100. This means that while the nominal salary is considerably higher than the national average, the purchasing power of that salary is effectively on par with the national standard, offering a balanced financial landscape for residents.
Job Market Context
707,640
Total Jobs
75.578
Per 1K Jobs
1.13
Location Quotient
With a location quotient of 1.13, New York-Newark-Jersey City, NY-NJ has a slightly higher-than-average concentration of Business and Financial Operations Occupations roles compared to the national norm.
With a Location Quotient of 1.13, the Business and Financial Operations job market in New York-Newark-Jersey City, NY-NJ is slightly more concentrated than the national average. This indicates a competitive yet abundant environment where demand for these professionals is robust, suggesting ample opportunities for both job seekers and employers within the region.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Kiryas Joel-Poughkeepsie-Newburgh, NY Business and Financial Operations Occupations Salary | $93,120↓ 22% | 44 mi |
| Trenton-Princeton, NJ Business and Financial Operations Occupations Salary | $96,190↓ 19% | 52 mi |
| Bridgeport-Stamford-Danbury, CT Business and Financial Operations Occupations Salary | $111,810↓ 6% | 54 mi |
| New Haven, CT Business and Financial Operations Occupations Salary | $91,590↓ 23% | 70 mi |
| Waterbury-Shelton, CT Business and Financial Operations Occupations Salary | $89,650↓ 25% | 77 mi |
Comparing salaries near New York-Newark-Jersey City, NY-NJ
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in New York-Newark-Jersey City, NY-NJ?
The median annual salary for a Business and Financial Operations Occupations in New York-Newark-Jersey City, NY-NJ is $119,210. This typically ranges from $60,760 for entry-level positions to $182,070 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in New York-Newark-Jersey City, NY-NJ is 26.0% higher than the national median of $94,590.
Is New York-Newark-Jersey City, NY-NJ a lucrative place for Business and Financial Operations Occupations?
Yes, it is a highly lucrative area for these professionals.The average salary of $119,210 significantly exceeds the national average, and the market is slightly more concentrated than the national average, indicating strong demand and competitive compensation.
Is New York-Newark-Jersey City, NY-NJ a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in New York-Newark-Jersey City, NY-NJ is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near New York-Newark-Jersey City, NY-NJ?
Some top paying nearby cities include Kiryas Joel-Poughkeepsie-Newburgh, NY ($93,120) and Trenton-Princeton, NJ.
How does the salary compare to the national average?
The average annual salary for Business and Financial Operations Occupations in New York-Newark-Jersey City, NY-NJ is $119,210, which is substantially higher than the national average of $94,590.
What is the concentration of these jobs in the area?
The Location Quotient of 1.13 indicates that Business and Financial Operations Occupations are 13% more concentrated in the New York-Newark-Jersey City, NY-NJ area compared to the national average.
How does the cost of living affect the salary?
The Cost of Living Index is 100, matching the national average. Therefore, the higher nominal salary of $119,210 provides purchasing power equivalent to the national average.
How many people work in these roles locally?
There are approximately 707,640 individuals employed in Business and Financial Operations Occupations within the New York-Newark-Jersey City, NY-NJ metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 707,640 employees in the New York-Newark-Jersey City, NY-NJ area with a job density of 75.578 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 York-Newark-Jersey City, NY-NJ