In the Northern New Mexico nonmetropolitan area, professionals in Business and Financial Operations Occupations earn an average annual salary of $93,830. This figure is remarkably close to the national average of $94,590, indicating a stable and competitive compensation landscape. The specific economic drivers and industry demands within this region play a crucial role in shaping these salary levels.
Executive Summary
- Average Salary: $93,830 per year.
- Growth Trend: Salaries have shifted 3.2% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $139,790.
- Outlook: With a local workforce of 5,860 individuals in Business and Financial Operations, and a Location Quotient of 1.05, this sector demonstrates a concentration slightly above the national average. This suggests a robust and well-established presence of these roles within the Northern New Mexico nonmetropolitan area, indicating consistent demand and a healthy job market for skilled professionals.
Salary Overview
The average Business and Financial Operations Occupations in Northern New Mexico nonmetropolitan area earns-0.8%below the national average.
$45.1
$1,804
$7,819
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 roles in Northern New Mexico have seen consistent growth over the past four years, mirroring national trends. Economic development and evolving business needs typically drive upward salary adjustments in this sector.
Business and Financial Operations Occupations Salary Distribution in Northern New Mexico nonmetropolitan area
Salary progression within Business and Financial Operations is significantly influenced by experience. Entry-level positions typically command salaries at the lower end of the pay scale, while senior roles, with their increased responsibilities and specialized expertise, can reach substantially higher figures. The percentile gaps in salary distributions clearly signify opportunities for career advancement and increased earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $47,840 | $23 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $70,373 | $33.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $84,580 | $40.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $117,288 | $56.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $139,790 | $67.2 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$93,830
Gross Pay
Real Wage (Purchasing Power)
$93,830
Adjusted for COL (100)
The average annual salary of $93,830 in Northern New Mexico aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of this salary is equivalent to the national average, offering a balanced financial environment for residents without the added pressure of a higher cost of living.
Job Market Context
5,860
Total Jobs
70.657
Per 1K Jobs
1.05
Location Quotient
With a location quotient of 1.05, Northern New Mexico nonmetropolitan area has a slightly higher-than-average concentration of Business and Financial Operations Occupations roles compared to the national norm.
A Location Quotient of 1.05 for Business and Financial Operations Occupations in Northern New Mexico indicates a slightly higher concentration of these jobs compared to the national average. This suggests a competitive yet stable market where demand is met by a comparable supply of talent, making it an attractive area for those in the field.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Albuquerque, NM Business and Financial Operations Occupations Salary | $85,950↓ 8% | 29 mi |
| Santa Fe, NM Business and Financial Operations Occupations Salary | $73,950↓ 21% | 59 mi |
Comparing salaries near Northern New Mexico nonmetropolitan area
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Northern New Mexico nonmetropolitan area?
The median annual salary for a Business and Financial Operations Occupations in Northern New Mexico nonmetropolitan area is $93,830. This typically ranges from $47,840 for entry-level positions to $139,790 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Northern New Mexico nonmetropolitan area is 0.8% lower than the national median of $94,590.
Is Northern New Mexico nonmetropolitan area a lucrative place for Business and Financial Operations Occupationss?
Yes, it offers competitive compensation.The average salary of $93,830 is nearly on par with the national average, and the cost of living is also at the national average, providing good financial stability.
Is Northern New Mexico nonmetropolitan area a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Northern New Mexico nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Northern New Mexico nonmetropolitan area?
Some top paying nearby cities include Albuquerque, NM ($85,950) and Santa Fe, NM.
How does the Northern New Mexico salary compare to the national average?
The average salary of $93,830 in Northern New Mexico is very close to the national average of $94,590, indicating comparable earning potential.
What is the significance of the Location Quotient (LQ) in Northern New Mexico?
An LQ of 1.05 signifies that Business and Financial Operations roles are slightly more concentrated in Northern New Mexico than the national average, suggesting a healthy presence and demand for these professions.
How does the cost of living affect the salary in Northern New Mexico?
With a Cost of Living Index of 100, the national average, the $93,830 salary in Northern New Mexico offers purchasing power equivalent to the national average, making it financially stable.
What is the total workforce size for Business and Financial Operations in this region?
The total local workforce for Business and Financial Operations Occupations in Northern New Mexico is 5,860 individuals.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 5,860 employees in the Northern New Mexico nonmetropolitan area area with a job density of 70.657 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 Northern New Mexico nonmetropolitan area