Average Business and Financial Operations Occupations Salary in Rochester, MN
In Rochester, MN, professionals in Business and Financial Operations Occupations earn an average annual salary of $92,940. This figure is slightly below the national average of $94,590, indicating a localized compensation structure influenced by regional economic factors and industry demand within the state. While the nominal pay is comparable, understanding the local market dynamics is key to appreciating this salary.
Executive Summary
- Average Salary: $92,940 per year.
- Growth Trend: Salaries have shifted 31.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $132,030.
- Outlook: Rochester, MN supports a substantial workforce of 5,560 individuals within Business and Financial Operations Occupations. The location quotient of 0.68 suggests that this sector is less concentrated here compared to the national average, implying a potentially stable but not overly saturated job market. The presence of nearly 46 jobs per 1,000 workers indicates a consistent demand for these essential roles within the local economy.
Salary Overview
The average Business and Financial Operations Occupations in Rochester, MN earns-1.7%below the national average.
$44.7
$1,787
$7,745
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 Rochester, MN have experienced growth over the past four years, mirroring national trends. Economic expansion, inflation, and evolving industry needs typically drive upward adjustments in compensation, ensuring that these roles remain competitive within the local job market.
Business and Financial Operations Occupations Salary Distribution in Rochester, MN
Career progression within Business and Financial Operations Occupations in Rochester, MN, typically leads to significant salary increases. Entry-level positions may start at a lower percentile, but with accumulated experience and specialized skills, professionals can advance to senior roles commanding higher salaries. The widening gap between entry-level and senior-level compensation reflects the value placed on expertise and leadership within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $57,100 | $27.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $69,705 | $33.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $83,060 | $39.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $116,175 | $55.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $132,030 | $63.5 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$92,940
Gross Pay
Real Wage (Purchasing Power)
$92,940
Adjusted for COL (100)
The average annual salary of $92,940 in Rochester, MN aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of the salary is equivalent to the national standard, offering a stable financial footing for residents without the immediate pressure of higher or lower living expenses.
Job Market Context
5,560
Total Jobs
45.742
Per 1K Jobs
0.68
Location Quotient
Rochester, MN has 0.68x 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 0.68, the Business and Financial Operations Occupations sector in Rochester, MN is less concentrated than the national average. This suggests that while these roles are present and necessary, the market may not be as intensely competitive as in larger, more specialized hubs. It presents an opportunity for skilled professionals to find a solid footing without facing overwhelming competition.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| La Crosse-Onalaska, WI-MN Business and Financial Operations Occupations Salary | $82,180↓ 12% | 64 mi |
| Eau Claire, WI Business and Financial Operations Occupations Salary | $80,680↓ 13% | 74 mi |
| Mankato, MN Business and Financial Operations Occupations Salary | $78,870↓ 15% | 75 mi |
| Minneapolis-St. Paul-Bloomington, MN-WI Business and Financial Operations Occupations Salary | $96,880↑ 4% | 77 mi |
Comparing salaries near Rochester, MN
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Rochester, MN?
The median annual salary for a Business and Financial Operations Occupations in Rochester, MN is $92,940. This typically ranges from $57,100 for entry-level positions to $132,030 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Rochester, MN is 1.7% lower than the national median of $94,590.
Is Rochester, MN a lucrative place for Business and Financial Operations Occupationss?
Yes, with caveats.The average salary of $92,940 is competitive with the national average, and the cost of living is on par, making it financially stable. However, the lower location quotient indicates less industry concentration than the national average.
Is Rochester, MN a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Rochester, MN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Rochester, MN?
Some top paying nearby cities include La Crosse-Onalaska, WI-MN ($82,180) and Eau Claire, WI.
How does Rochester, MN's average salary compare to the national average?
The average salary for Business and Financial Operations Occupations in Rochester, MN is $92,940, which is slightly lower than the national average of $94,590.
What is the Cost of Living in Rochester, MN?
Rochester, MN has a Cost of Living Index of 100, which is exactly the national average, indicating that the general cost of goods and services is comparable to the rest of the country.
How concentrated is the Business and Financial Operations job market in Rochester, MN?
The job market for Business and Financial Operations Occupations in Rochester, MN is less concentrated than the national average, with a Location Quotient of 0.68.
What is the total workforce size for these occupations in Rochester, MN?
There are 5,560 individuals employed in Business and Financial Operations Occupations in Rochester, MN.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 5,560 employees in the Rochester, MN area with a job density of 45.742 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 Rochester, MN