In the Southside Virginia nonmetropolitan area, professionals in Business and Financial Operations Occupations earn an average annual salary of $77,490. This figure is notably below the national average of $94,590, reflecting the economic landscape and industry concentration specific to this region. The lower average pay is often tied to factors such as the cost of doing business, local demand, and the availability of specialized industries that typically command higher compensation.
Executive Summary
- Average Salary: $77,490 per year.
- Growth Trend: Salaries have shifted 20.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $122,730.
- Outlook: The job market for Business and Financial Operations Occupations in Southside Virginia is characterized by a local workforce of 3,970 individuals. With a Location Quotient of 0.57, this sector is less concentrated than the national average, suggesting a smaller but potentially stable presence. The rate of 38.594 jobs per 1,000 workers indicates a moderate level of employment within this occupational group relative to the overall regional workforce.
Salary Overview
The average Business and Financial Operations Occupations in Southside Virginia nonmetropolitan area earns-18.1%below the national average.
$37.3
$1,490
$6,458
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for this precise region and occupational group is not provided, it is generally assumed that salaries for Business and Financial Operations Occupations have experienced steady growth over the past four years, mirroring national trends. This growth is typically driven by inflation, increasing demand for financial expertise, and the evolving complexity of business operations, which often leads to upward pressure on compensation across most economic sectors.
Business and Financial Operations Occupations Salary Distribution in Southside Virginia nonmetropolitan area
Within the Business and Financial Operations field, salary progression is strongly correlated with experience and specialization. Entry-level positions typically command lower salaries, while mid-career professionals with proven track records and specialized skills can expect significantly higher earnings. Senior roles, requiring extensive expertise, leadership capabilities, and strategic oversight, represent the upper echelon of the salary spectrum, with substantial percentile gaps illustrating the rewards of career advancement and accumulated knowledge.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $39,950 | $19.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $58,118 | $27.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $68,530 | $32.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $96,863 | $46.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $122,730 | $59 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$77,490
Gross Pay
Real Wage (Purchasing Power)
$77,490
Adjusted for COL (100)
The nominal average annual salary of $77,490 in Southside Virginia aligns precisely 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 equivalent to the national average. While the salary itself is lower than the national average for this occupation, the cost of living being at par suggests that the real value of the earnings may be more competitive locally than a simple nominal comparison would indicate.
Job Market Context
3,970
Total Jobs
38.594
Per 1K Jobs
0.57
Location Quotient
Southside Virginia nonmetropolitan area has 0.57x 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 0.57, the market for Business and Financial Operations Occupations in Southside Virginia is less concentrated than the national average. This indicates that these roles are not as prevalent in this region compared to the rest of the country. Consequently, the job market might be less competitive in terms of the sheer number of applicants for each opening, but it also suggests a potentially smaller pool of specialized opportunities and a lower overall demand relative to national benchmarks.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Charlottesville, VA Business and Financial Operations Occupations Salary | $90,440↑ 17% | 25 mi |
| Richmond, VA Business and Financial Operations Occupations Salary | $89,920↑ 16% | 41 mi |
| Staunton-Stuarts Draft, VA Business and Financial Operations Occupations Salary | $73,630↓ 5% | 56 mi |
| Harrisonburg, VA Business and Financial Operations Occupations Salary | $75,960↓ 2% | 60 mi |
| Lynchburg, VA Business and Financial Operations Occupations Salary | $78,780↑ 2% | 61 mi |
Comparing salaries near Southside Virginia nonmetropolitan area
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Southside Virginia nonmetropolitan area?
The median annual salary for a Business and Financial Operations Occupations in Southside Virginia nonmetropolitan area is $77,490. This typically ranges from $39,950 for entry-level positions to $122,730 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Southside Virginia nonmetropolitan area is 18.1% lower than the national median of $94,590.
Is Southside Virginia nonmetropolitan area a lucrative place for Business and Financial Operations Occupationss?
No, it is not considered particularly lucrative compared to national standards.The average salary of $77,490 is significantly lower than the national average of $94,590 for this occupation. While the cost of living is average, the lower nominal pay indicates less lucrative earning potential in this region.
Is Southside Virginia nonmetropolitan area a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Southside Virginia nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Southside Virginia nonmetropolitan area?
Some top paying nearby cities include Charlottesville, VA ($90,440) and Richmond, VA.
How does the local salary compare to the national average?
The average annual salary for Business and Financial Operations Occupations in Southside Virginia is $77,490, which is considerably lower than the national average of $94,590.
What is the concentration of these jobs in Southside Virginia?
The concentration, measured by the Location Quotient, is 0.57, indicating that these occupations are less prevalent in Southside Virginia compared to the national average.
How does the Cost of Living in Southside Virginia affect the salary?
The Cost of Living Index is 100, which is the national average. This means that the $77,490 salary has the same purchasing power locally as the national average salary does nationally.
What is the total number of Business and Financial Operations workers in the area?
There are approximately 3,970 individuals employed in Business and Financial Operations Occupations within the Southside Virginia nonmetropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 3,970 employees in the Southside Virginia nonmetropolitan area area with a job density of 38.594 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 Southside Virginia nonmetropolitan area