Average Business and Financial Operations Occupations Salary in Rhode Island
In Rhode Island, professionals in Business and Financial Operations Occupations earn an average annual salary of $92,050. This figure is slightly below the national average of $94,590, suggesting a localized market dynamic that influences compensation. Factors such as the state's specific economic landscape and industry concentration likely contribute to this pay differential.
Executive Summary
- Average Salary: $92,050 per year.
- Growth Trend: Salaries have shifted 9.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $138,100.
- Outlook: Rhode Island's market for Business and Financial Operations professionals is robust, evidenced by a substantial local workforce of 36,330 individuals. The Location Quotient of 1.1 indicates a slightly higher concentration of these roles compared to the national average, signaling consistent demand and a healthy job market for these essential functions within the state's economy.
Salary Overview
The average Business and Financial Operations Occupations in Rhode Island earns-2.7%below the national average.
$44.3
$1,770
$7,671
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 Rhode Island have experienced steady growth over the past four years, mirroring national trends. This upward trajectory is typically driven by inflation, increasing demand for specialized financial expertise, and the overall expansion of businesses within the state.
Business and Financial Operations Occupations Salary Distribution in Rhode Island
Career progression within Business and Financial Operations Occupations in Rhode Island significantly impacts earning potential. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with specialized skills and extensive experience 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 field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $51,380 | $24.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $69,038 | $33.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $82,900 | $39.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $115,063 | $55.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $138,100 | $66.4 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$92,050
Gross Pay
Real Wage (Purchasing Power)
$82,187
Adjusted for COL (112)
Rhode Island's Cost of Living Index stands at 112, meaning it is 12% more expensive than the national average. The nominal average salary of $92,050, while slightly below the national average, must be considered in this context. The higher cost of living suggests that the purchasing power of this salary may be somewhat diminished compared to areas with a lower cost of living, requiring careful financial planning for residents.
Job Market Context
36,330
Total Jobs
73.582
Per 1K Jobs
1.1
Location Quotient
With a location quotient of 1.10, Rhode Island has a slightly higher-than-average concentration of Business and Financial Operations Occupations roles compared to the national norm.
With a Location Quotient of 1.1, Rhode Island demonstrates a slightly higher concentration of Business and Financial Operations jobs than the national average. This indicates a moderately competitive market where these roles are a notable component of the state's employment landscape, suggesting a good balance between job availability and the number of professionals seeking these positions.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
Comparing salaries near Rhode Island
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Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Rhode Island?
The median annual salary for a Business and Financial Operations Occupations in Rhode Island is $92,050. This typically ranges from $51,380 for entry-level positions to $138,100 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Rhode Island is 2.7% lower than the national median of $94,590.
Is Rhode Island a lucrative place for Business and Financial Operations Occupationss?
Yes, with caveats.Rhode Island offers a solid average salary of $92,050, slightly above the national average when adjusted for its cost of living. The market also shows a healthy concentration of these roles, indicating consistent demand.
Is Rhode Island a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Rhode Island is 112. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Rhode Island?
Some top paying nearby cities include Providence-Warwick, RI-MA ($91,060) and Norwich-New London-Willimantic, CT.
How does Rhode Island's average salary compare to the national average?
The average annual salary for Business and Financial Operations Occupations in Rhode Island is $92,050, which is slightly lower than the national average of $94,590.
What is the concentration of Business and Financial Operations jobs in Rhode Island?
Rhode Island has a Location Quotient of 1.1 for these occupations, indicating a slightly higher concentration of these jobs compared to the national average.
How does the cost of living in Rhode Island affect the salary?
Rhode Island's Cost of Living Index is 112, meaning it is 12% more expensive than the national average. This higher cost of living can reduce the effective purchasing power of the $92,050 average salary.
What is the total number of Business and Financial Operations workers in Rhode Island?
There are 36,330 individuals employed in Business and Financial Operations Occupations in Rhode Island.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 36,330 employees in the Rhode Island area with a job density of 73.582 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 Rhode Island