In the Southwest Minnesota nonmetropolitan area, professionals in Business and Financial Operations Occupations earn an average annual salary of $79,180. This figure is notably below the national average of $94,590, reflecting the unique economic dynamics and potentially lower demand for these specialized roles in a more rural setting. The compensation is shaped by regional industry focus and the overall economic landscape of the area.
Executive Summary
- Average Salary: $79,180 per year.
- Growth Trend: Salaries have shifted 19.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $119,040.
- Outlook: The job market for Business and Financial Operations Occupations in Southwest Minnesota is characterized by a local workforce of 4,420 individuals. With a Location Quotient of 0.56, these roles are less concentrated than the national average, suggesting a smaller but potentially stable presence within the regional economy. The rate of 37.461 jobs per 1,000 workers indicates a moderate level of employment for these professionals within the nonmetropolitan context.
Salary Overview
The average Business and Financial Operations Occupations in Southwest Minnesota nonmetropolitan area earns-16.3%below the national average.
$38.1
$1,523
$6,598
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for this nonmetropolitan area is not provided, it is generally assumed that salaries for Business and Financial Operations Occupations have seen a steady upward trend over the past four years, mirroring broader economic growth and inflation. This growth is typically driven by increasing demand for financial expertise, evolving business needs, and the general rise in the cost of living, even in nonmetropolitan regions.
Business and Financial Operations Occupations Salary Distribution in Southwest Minnesota nonmetropolitan area
Within the Business and Financial Operations Occupations field, salary progression is strongly tied to experience and specialization. Entry-level positions typically command salaries at the lower end of the pay scale, while senior roles, requiring extensive expertise and leadership, can significantly exceed the average. The percentile gaps in earnings between junior and senior professionals highlight the substantial career advancement and earning potential available through dedicated development and accumulated experience.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $48,510 | $23.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $59,385 | $28.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $72,620 | $34.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $98,975 | $47.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $119,040 | $57.2 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$79,180
Gross Pay
Real Wage (Purchasing Power)
$79,180
Adjusted for COL (100)
The average annual salary of $79,180 in Southwest Minnesota nonmetropolitan area aligns perfectly with the national average Cost of Living Index of 100. This means that while the nominal salary is lower than the national average, the purchasing power of that salary locally is equivalent to the national standard. Therefore, the $79,180 earned locally offers a comparable lifestyle to what $79,180 would provide in a typical U.S. location, despite the lower nominal pay.
Job Market Context
4,420
Total Jobs
37.461
Per 1K Jobs
0.56
Location Quotient
Southwest Minnesota nonmetropolitan area has 0.56x 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 of 0.56 for Business and Financial Operations Occupations in Southwest Minnesota nonmetropolitan area indicates that these roles are less concentrated compared to the national average. This suggests that the job market may be less competitive in terms of the sheer number of available professionals relative to job openings, but it also implies a potentially smaller pool of specialized talent. Companies operating in this region might find it easier to attract talent due to lower competition, but the overall demand might also be more limited.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| St. Cloud, MN Business and Financial Operations Occupations Salary | $82,800↑ 5% | 17 mi |
| Minneapolis-St. Paul-Bloomington, MN-WI Business and Financial Operations Occupations Salary | $96,880↑ 22% | 58 mi |
Comparing salaries near Southwest Minnesota nonmetropolitan area
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Southwest Minnesota nonmetropolitan area?
The median annual salary for a Business and Financial Operations Occupations in Southwest Minnesota nonmetropolitan area is $79,180. This typically ranges from $48,510 for entry-level positions to $119,040 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Southwest Minnesota nonmetropolitan area is 16.3% lower than the national median of $94,590.
Is Southwest Minnesota nonmetropolitan area a lucrative place for Business and Financial Operations Occupationss?
No, it is not considered lucrative compared to the national average.The average salary of $79,180 is significantly lower than the national average of $94,590. While the cost of living is on par with the national average, the lower nominal salary indicates less lucrative earning potential in this region.
Is Southwest Minnesota nonmetropolitan area a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Southwest Minnesota nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Southwest Minnesota nonmetropolitan area?
Some top paying nearby cities include St. Cloud, MN ($82,800) and Minneapolis-St. Paul-Bloomington, MN-WI.
How does the local workforce size impact job opportunities?
A local workforce of 4,420 for Business and Financial Operations Occupations suggests a moderately sized pool of professionals. While not as large as metropolitan areas, this size can indicate a stable demand within the regional economy for these roles.
What does a Location Quotient of 0.56 mean for job seekers?
A Location Quotient of 0.56 signifies that Business and Financial Operations Occupations are less concentrated in Southwest Minnesota nonmetropolitan area than the national average. This could mean fewer job openings but potentially less competition for available positions.
How does the cost of living affect the real value of the salary?
With a Cost of Living Index of 100, the $79,180 salary in Southwest Minnesota nonmetropolitan area has the same purchasing power as $79,180 nationally. This means the lower nominal salary is offset by lower local expenses compared to the national average.
Are there many Business and Financial Operations jobs per capita in this area?
With 37.461 jobs per 1,000 workers, the density of Business and Financial Operations jobs is moderate. This indicates a consistent presence of these roles within the local employment landscape, though not exceptionally high.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 4,420 employees in the Southwest Minnesota nonmetropolitan area area with a job density of 37.461 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 Southwest Minnesota nonmetropolitan area