Average Business and Financial Operations Occupations Salary in Niles, MI
In Niles, MI, professionals in Business and Financial Operations Occupations earn an average annual salary of $81,130. This figure is notably below the national average of $94,590, suggesting that local economic factors and industry demand play a significant role in compensation within this region. While the nominal salary may seem lower, understanding the local economic landscape is crucial for a complete picture.
Executive Summary
- Average Salary: $81,130 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $130,080.
- Outlook: The Business and Financial Operations sector in Niles, MI, comprises approximately 3,000 individuals within the local workforce. With a Location Quotient of 0.75, this indicates a slightly lower concentration of these roles compared to the national average. However, the presence of over 50 jobs per 1,000 workers suggests a steady, albeit not overwhelmingly dominant, demand for these essential financial and operational professionals.
Salary Overview
The average Business and Financial Operations Occupations in Niles, MI earns-14.2%below the national average.
$39
$1,560
$6,761
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for Niles, MI is not provided, it is reasonable to assume that salaries for Business and Financial Operations roles have experienced gradual growth over the past four years, mirroring national trends. Economic recovery, inflation, and increasing demand for specialized financial expertise likely contribute to a modest upward trajectory in compensation for these positions.
Business and Financial Operations Occupations Salary Distribution in Niles, MI
Career progression within Business and Financial Operations roles in Niles, MI, typically involves a significant salary increase from entry-level to senior positions. The gap between the lower and upper salary percentiles signifies substantial earning potential as professionals gain experience, develop specialized skills, and take on greater responsibilities, reflecting a clear path for career advancement and increased remuneration.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $41,250 | $19.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $60,848 | $29.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $73,710 | $35.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $101,413 | $48.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $130,080 | $62.5 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$81,130
Gross Pay
Real Wage (Purchasing Power)
$81,130
Adjusted for COL (100)
The average annual salary of $81,130 in Niles, MI, aligns precisely 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 for residents. While the nominal salary is lower than the national average, the cost of living parity suggests that the take-home pay effectively covers expenses at a comparable level.
Job Market Context
3,000
Total Jobs
50.281
Per 1K Jobs
0.75
Location Quotient
Niles, MI has 0.75x 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 0.75, the Business and Financial Operations job market in Niles, MI, is less concentrated than the national average. This suggests that while these roles are present and necessary, the market may be less saturated with highly specialized talent compared to larger metropolitan areas. This could present opportunities for skilled professionals seeking to establish themselves in a less competitive, though potentially smaller, market.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| South Bend-Mishawaka, IN-MI Business and Financial Operations Occupations Salary | $75,800↓ 7% | 11 mi |
| Elkhart-Goshen, IN Business and Financial Operations Occupations Salary | $77,380↓ 5% | 18 mi |
| Michigan City-La Porte, IN Business and Financial Operations Occupations Salary | $71,990↓ 11% | 33 mi |
| Kalamazoo-Portage, MI Business and Financial Operations Occupations Salary | $78,970↓ 3% | 45 mi |
| Battle Creek, MI Business and Financial Operations Occupations Salary | $81,610↑ 1% | 61 mi |
Comparing salaries near Niles, MI
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Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Niles, MI?
The median annual salary for a Business and Financial Operations Occupations in Niles, MI is $81,130. This typically ranges from $41,250 for entry-level positions to $130,080 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Niles, MI is 14.2% lower than the national median of $94,590.
Is Niles, MI a lucrative place for Business and Financial Operations Occupationss?
No, not exceptionally lucrative compared to national averages.The average salary of $81,130 is below the national average, although the cost of living is also at the national average, providing comparable purchasing power.
Is Niles, MI a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Niles, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Niles, MI?
Some top paying nearby cities include South Bend-Mishawaka, IN-MI ($75,800) and Elkhart-Goshen, IN.
How does the local workforce size impact salaries in Niles, MI?
A local workforce of 3,000 in Business and Financial Operations suggests a stable but not massive market. This can influence salary levels, as larger markets often command higher pay due to greater competition and demand.
What does a Location Quotient of 0.75 mean for job seekers?
A Location Quotient of 0.75 indicates that Business and Financial Operations roles are less common in Niles, MI, than the national average. This could mean fewer job openings but potentially less competition for specialized roles.
How does the cost of living in Niles, MI, affect the perceived salary?
With a Cost of Living Index of 100, Niles, MI, is on par with the national average. Therefore, the $81,130 salary has the same purchasing power as the national average salary, making it neither significantly advantageous nor disadvantageous from a cost-of-living perspective.
Are there many Business and Financial Operations jobs per capita in Niles, MI?
Yes, with 50.281 jobs per 1,000 workers, Niles, MI, has a solid representation of Business and Financial Operations roles relative to its population, indicating consistent local demand.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 3,000 employees in the Niles, MI area with a job density of 50.281 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 Niles, MI