Average Business and Financial Operations Occupations Salary in Ohio
In Ohio, professionals in Business and Financial Operations Occupations earn an average annual salary of $84,000. This figure is notably below the national average of $94,590, suggesting that regional economic factors and industry concentration play a significant role in compensation within the state. While the nominal salary is lower, understanding the local economic landscape is crucial for evaluating its true value.
Executive Summary
- Average Salary: $84,000 per year.
- Growth Trend: Salaries have shifted 13.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $130,270.
- Outlook: Ohio boasts a substantial workforce of 358,160 individuals within Business and Financial Operations Occupations. With a Location Quotient of 0.97, the concentration of these roles in Ohio is nearly on par with the national average, indicating a stable and well-established presence. The rate of 64.81 jobs per 1,000 workers further underscores the consistent demand and integration of these vital functions within the state's economy.
Salary Overview
The average Business and Financial Operations Occupations in Ohio earns-11.2%below the national average.
$40.4
$1,615
$7,000
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 Ohio have experienced growth over the past four years, mirroring national trends. Economic expansion, evolving industry demands, and inflation typically drive upward adjustments in compensation, suggesting a positive trajectory for professionals in this sector within the state.
Business and Financial Operations Occupations Salary Distribution in Ohio
Salary progression within Business and Financial Operations Occupations in Ohio typically scales significantly with experience. Entry-level positions may start at a lower percentile, while seasoned professionals with specialized skills and leadership responsibilities can command salaries well into the higher percentiles. These increasing salary ranges reflect the growing value and expertise that experienced individuals bring to organizations, signifying clear career advancement opportunities.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $45,120 | $21.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $63,000 | $30.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $76,430 | $36.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $105,000 | $50.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $130,270 | $62.6 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$84,000
Gross Pay
Real Wage (Purchasing Power)
$92,511
Adjusted for COL (90.8)
The average annual salary of $84,000 in Ohio presents a favorable financial scenario when considered against the state's Cost of Living Index of 90.8. This index, which is below the national average of 100, indicates that everyday expenses such as housing, utilities, and transportation are generally more affordable in Ohio. Consequently, the purchasing power of an $84,000 salary is likely to be higher in Ohio than in areas with a higher cost of living, making the nominal salary more attractive.
Job Market Context
358,160
Total Jobs
64.81
Per 1K Jobs
0.97
Location Quotient
Ohio has 0.97x 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 0.97, the job market for Business and Financial Operations Occupations in Ohio is closely aligned with the national average in terms of industry concentration. This suggests a balanced market where demand is consistent with the overall economic landscape, neither overly saturated nor exceptionally scarce. Professionals can expect a competitive yet accessible environment for securing roles within this sector.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Mansfield, OH Business and Financial Operations Occupations Salary | $72,960↓ 13% | 29 mi |
| Columbus, OH Business and Financial Operations Occupations Salary | $86,290↑ 3% | 32 mi |
| Springfield, OH Business and Financial Operations Occupations Salary | $70,130↓ 17% | 63 mi |
| Sandusky, OH Business and Financial Operations Occupations Salary | $77,990↓ 7% | 73 mi |
| Lima, OH Business and Financial Operations Occupations Salary | $76,460↓ 9% | 75 mi |
Comparing salaries near Ohio
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Ohio?
The median annual salary for a Business and Financial Operations Occupations in Ohio is $84,000. This typically ranges from $45,120 for entry-level positions to $130,270 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Ohio is 11.2% lower than the national median of $94,590.
Is Ohio a lucrative place for Business and Financial Operations Occupations?
Yes, with a caveat regarding the national average.Ohio offers a competitive salary of $84,000, which is significantly enhanced by a cost of living index below the national average. While the average salary is lower than the national benchmark, the reduced cost of living increases the real value of earnings.
Is Ohio a good place to live for Business and Financial Operations Occupations?
With a Cost of Living Index of 90.8 (lower than the national average of 100), your salary goes further here.
Where are the highest paying cities near Ohio?
Some top paying nearby cities include Mansfield, OH ($72,960) and Columbus, OH.
How does Ohio's average salary compare to the national average?
The average annual salary for Business and Financial Operations Occupations in Ohio is $84,000, which is approximately $10,590 lower than the national average of $94,590.
What is the concentration of Business and Financial Operations jobs in Ohio?
Ohio has a Location Quotient of 0.97 for these occupations, indicating that the concentration of these jobs in the state is very close to the national average.
How does the cost of living in Ohio affect salary perception?
With a Cost of Living Index of 90.8, Ohio is more affordable than the national average. This means that the $84,000 salary can provide a higher standard of living and purchasing power compared to areas with a higher cost of living.
What is the total number of workers in Business and Financial Operations in Ohio?
There are 358,160 individuals employed in Business and Financial Operations Occupations in Ohio, representing a significant segment of the state's workforce.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 358,160 employees in the Ohio area with a job density of 64.81 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 Ohio