Average Business and Financial Operations Occupations Salary in Peoria, IL
In Peoria, IL, professionals in Business and Financial Operations Occupations earn an average annual salary of $80,270. This figure is notably lower than the national average of $94,590, suggesting that local economic factors and industry demand play a significant role in compensation within this region. The specific economic landscape and the concentration of businesses requiring these specialized roles influence the prevailing wage rates.
Executive Summary
- Average Salary: $80,270 per year.
- Growth Trend: Salaries have shifted 1.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $123,690.
- Outlook: Peoria, IL supports a local workforce of 8,420 individuals within Business and Financial Operations Occupations. With a Location Quotient of 0.76, this sector is slightly less concentrated than the national average, indicating a moderate but not dominant presence. The rate of 50.989 jobs per 1,000 workers suggests a steady demand for these professionals within the local economy, positioning the job market as stable.
Salary Overview
The average Business and Financial Operations Occupations in Peoria, IL earns-15.1%below the national average.
$38.6
$1,544
$6,689
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for Peoria is not provided, it is generally assumed that salaries for Business and Financial Operations Occupations have seen consistent growth over the past four years, mirroring national trends. This upward trajectory is typically driven by inflation, increasing demand for financial expertise, and the evolving complexity of business operations, leading to higher compensation expectations for skilled professionals.
Business and Financial Operations Occupations Salary Distribution in Peoria, IL
Career progression within Business and Financial Operations Occupations in Peoria, IL, typically sees a significant salary increase with experience. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with specialized skills and leadership responsibilities can command salaries in the upper percentiles. The widening gap between entry-level and senior roles signifies substantial 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) | $44,910 | $21.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $60,203 | $28.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $74,160 | $35.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $100,338 | $48.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $123,690 | $59.5 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$80,270
Gross Pay
Real Wage (Purchasing Power)
$80,270
Adjusted for COL (100)
The average annual salary of $80,270 in Peoria, IL, aligns perfectly with the national average Cost of Living Index of 100. This means that the nominal salary offers purchasing power equivalent to the national average, making it a neutral factor in relocation decisions from a cost-of-living perspective. While the salary is below the national average, the stable cost of living ensures that the earned income retains its value relative to national benchmarks.
Job Market Context
8,420
Total Jobs
50.989
Per 1K Jobs
0.76
Location Quotient
Peoria, IL has 0.76x 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 0.76, the Business and Financial Operations Occupations sector in Peoria, IL, is present but not as densely concentrated as the national average. This suggests that while opportunities exist, the market may be less saturated, potentially offering a competitive edge for skilled professionals. The slightly lower concentration indicates a balanced demand and supply dynamic, where specialized talent might be highly valued.
Nearby Job Markets
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Comparing salaries near Peoria, IL
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Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Peoria, IL?
The median annual salary for a Business and Financial Operations Occupations in Peoria, IL is $80,270. This typically ranges from $44,910 for entry-level positions to $123,690 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Peoria, IL is 15.1% lower than the national median of $94,590.
Is Peoria, IL a lucrative place for Business and Financial Operations Occupationss?
No, but it offers stable opportunities.The average salary of $80,270 is below the national average, but the cost of living is also at the national average, offering equivalent purchasing power. The job market is stable with a moderate concentration of roles.
Is Peoria, IL a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Peoria, IL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Peoria, IL?
Some top paying nearby cities include Bloomington, IL ($87,340) and West Central Illinois nonmetropolitan area.
How does Peoria's salary compare to the national average for this field?
The average salary in Peoria, IL, for Business and Financial Operations Occupations is $80,270, which is lower than the national average of $94,590.
What is the cost of living in Peoria, IL, for these professionals?
Peoria, IL, has a Cost of Living Index of 100, which is exactly the national average, meaning the cost of goods and services is comparable to the rest of the country.
How concentrated is the Business and Financial Operations job market in Peoria?
The Location Quotient of 0.76 indicates that this sector is slightly less concentrated in Peoria compared to the national average, suggesting a moderate presence.
How many Business and Financial Operations jobs are there per 1,000 workers in Peoria?
There are approximately 50.989 jobs per 1,000 workers in Business and Financial Operations Occupations in Peoria, IL.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 8,420 employees in the Peoria, IL area with a job density of 50.989 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 Peoria, IL