In the South Illinois nonmetropolitan area, professionals in Business and Financial Operations Occupations can expect an average annual salary of $73,620. This figure is notably below the national average of $94,590, reflecting regional economic factors and a potentially lower demand for specialized financial roles compared to more urbanized centers. The unique economic landscape of nonmetropolitan regions often influences compensation structures, leading to these localized pay differences.
Executive Summary
- Average Salary: $73,620 per year.
- Growth Trend: Salaries have shifted 13.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $116,170.
- Outlook: The job market for Business and Financial Operations Occupations in South Illinois is characterized by a total local workforce of 4,660 individuals. With a Location Quotient of 0.5, this sector is less concentrated than the national average, suggesting a moderate level of demand and fewer specialized roles available within the region. While the workforce size indicates a presence, the lower concentration points to a market that may not be rapidly expanding but offers stable opportunities for those already established.
Salary Overview
The average Business and Financial Operations Occupations in South Illinois nonmetropolitan area earns-22.2%below the national average.
$35.4
$1,416
$6,135
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for the South Illinois nonmetropolitan area's Business and Financial Operations Occupations is not provided, it is reasonable to assume a general trend of salary growth over the past four years, mirroring national economic patterns. Factors such as inflation, evolving business needs, and increased demand for financial expertise likely contributed to incremental increases in compensation, even in nonmetropolitan settings. These trends, though potentially more modest than in major metropolitan hubs, indicate a steady, albeit gradual, appreciation of salaries in this sector.
Business and Financial Operations Occupations Salary Distribution in South Illinois nonmetropolitan area
Within the Business and Financial Operations Occupations field in South Illinois, salary progression is typically tied to experience and specialization. Entry-level positions might start significantly lower than the $73,620 average, while senior roles, requiring extensive expertise and leadership, can command salaries well above this benchmark. The percentile gaps between junior and senior roles signify clear career advancement pathways, rewarding accumulated knowledge and demonstrated success with increased earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $39,260 | $18.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $55,215 | $26.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $64,590 | $31.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $92,025 | $44.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $116,170 | $55.9 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$73,620
Gross Pay
Real Wage (Purchasing Power)
$73,620
Adjusted for COL (100)
The nominal average annual salary of $73,620 in South Illinois' nonmetropolitan area aligns perfectly with the national average Cost of Living Index of 100. This means that, on average, the purchasing power of the salary in this region is comparable to the national average. While the salary is lower than the national average for the occupation, the equivalent cost of living suggests that the take-home pay may offer a similar lifestyle standard to what one might experience in a higher-cost area with a higher nominal salary.
Job Market Context
4,660
Total Jobs
33.283
Per 1K Jobs
0.5
Location Quotient
South Illinois nonmetropolitan area has 0.50x 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.
The Location Quotient (LQ) of 0.5 for Business and Financial Operations Occupations in South Illinois indicates that this sector is half as concentrated in the region compared to the national average. This suggests that the job market is less competitive and potentially less saturated with professionals in this field. While this might mean fewer job openings overall, it could also present opportunities for individuals with the right skills to stand out and secure positions more readily than in highly concentrated metropolitan areas.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Bloomington, IL Business and Financial Operations Occupations Salary | $87,340↑ 19% | 9 mi |
| Decatur, IL Business and Financial Operations Occupations Salary | $87,690↑ 19% | 34 mi |
| Champaign-Urbana, IL Business and Financial Operations Occupations Salary | $76,490↑ 4% | 41 mi |
| Peoria, IL Business and Financial Operations Occupations Salary | $80,270↑ 9% | 43 mi |
| Springfield, IL Business and Financial Operations Occupations Salary | $85,120↑ 16% | 53 mi |
Comparing salaries near South Illinois nonmetropolitan area
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in South Illinois nonmetropolitan area?
The median annual salary for a Business and Financial Operations Occupations in South Illinois nonmetropolitan area is $73,620. This typically ranges from $39,260 for entry-level positions to $116,170 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in South Illinois nonmetropolitan area is 22.2% lower than the national median of $94,590.
Is South Illinois nonmetropolitan area a lucrative place for Business and Financial Operations Occupationss?
No, not compared to the national average.The average salary of $73,620 is significantly lower than the national average of $94,590 for this occupation. However, the cost of living is also at the national average, mitigating some of the impact of the lower salary.
Is South Illinois nonmetropolitan area a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in South Illinois nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near South Illinois nonmetropolitan area?
Some top paying nearby cities include Bloomington, IL ($87,340) and Decatur, IL.
How does the cost of living in South Illinois compare to the national average?
The cost of living in the South Illinois nonmetropolitan area is exactly at the national average, with an index of 100. This means that the general expenses for goods, services, and housing are comparable to the national average.
What is the concentration of Business and Financial Operations jobs in South Illinois?
The concentration, measured by the Location Quotient, is 0.5, which is half the national average. This indicates that these occupations are less prevalent in South Illinois compared to the rest of the country.
How many people work in Business and Financial Operations in South Illinois?
There are approximately 4,660 individuals employed in Business and Financial Operations Occupations within the South Illinois nonmetropolitan area.
Are there many job opportunities for Business and Financial Operations professionals in South Illinois?
With a lower concentration (LQ of 0.5) and a moderate workforce size, the number of job opportunities may be limited compared to national averages, suggesting a less robust but potentially stable market.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 4,660 employees in the South Illinois nonmetropolitan area area with a job density of 33.283 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 South Illinois nonmetropolitan area