In the Southwest Virginia nonmetropolitan area, professionals in Business and Financial Operations Occupations earn an average annual salary of $73,690. This figure is notably lower than the national average of $94,590, reflecting regional economic factors and industry concentration. The pay scale in this area is influenced by the specific demands and available opportunities within the local business landscape.
Executive Summary
- Average Salary: $73,690 per year.
- Growth Trend: Salaries have shifted 30.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $120,890.
- Outlook: The job market for Business and Financial Operations Occupations in Southwest Virginia's nonmetropolitan area is characterized by a workforce of 4,260 individuals. With a Location Quotient of 0.54, the concentration of these roles is below the national average, suggesting a less saturated but potentially developing market. The rate of 36.156 jobs per 1,000 workers indicates a steady presence of these essential functions within the regional economy.
Salary Overview
The average Business and Financial Operations Occupations in Southwest Virginia nonmetropolitan area earns-22.1%below the national average.
$35.4
$1,417
$6,141
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for this region 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, increased demand for specialized financial skills, and regional economic development initiatives likely contribute to incremental salary increases for Business and Financial Operations professionals in Southwest Virginia.
Business and Financial Operations Occupations Salary Distribution in Southwest Virginia nonmetropolitan area
Salary progression for Business and Financial Operations roles typically scales with experience. Entry-level positions might start closer to the lower end of the pay spectrum, while mid-level and senior roles, requiring specialized expertise and proven track records, command significantly higher compensation. The percentile gaps between these career stages highlight the substantial earning potential and career advancement opportunities available to dedicated professionals.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $36,940 | $17.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $55,268 | $26.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $64,330 | $30.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $92,113 | $44.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $120,890 | $58.1 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$73,690
Gross Pay
Real Wage (Purchasing Power)
$73,690
Adjusted for COL (100)
The average annual salary of $73,690 in Southwest Virginia's 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 this income is equivalent to the national average, making the region's financial landscape relatively stable for residents.
Job Market Context
4,260
Total Jobs
36.156
Per 1K Jobs
0.54
Location Quotient
Southwest Virginia nonmetropolitan area has 0.54x 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.
A Location Quotient of 0.54 indicates that Business and Financial Operations Occupations are less concentrated in Southwest Virginia's nonmetropolitan area compared to the national average. This suggests that while the demand for these roles exists, the market is not oversaturated, potentially offering good opportunities for skilled professionals seeking employment in a less competitive environment relative to national hubs.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Charlottesville, VA Business and Financial Operations Occupations Salary | $90,440↑ 23% | 25 mi |
| Richmond, VA Business and Financial Operations Occupations Salary | $89,920↑ 22% | 41 mi |
| Staunton-Stuarts Draft, VA Business and Financial Operations Occupations Salary | $73,630↓ 0% | 56 mi |
| Harrisonburg, VA Business and Financial Operations Occupations Salary | $75,960↑ 3% | 60 mi |
| Lynchburg, VA Business and Financial Operations Occupations Salary | $78,780↑ 7% | 61 mi |
Comparing salaries near Southwest Virginia nonmetropolitan area
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Southwest Virginia nonmetropolitan area?
The median annual salary for a Business and Financial Operations Occupations in Southwest Virginia nonmetropolitan area is $73,690. This typically ranges from $36,940 for entry-level positions to $120,890 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Southwest Virginia nonmetropolitan area is 22.1% lower than the national median of $94,590.
Is Southwest Virginia nonmetropolitan area a lucrative place for Business and Financial Operations Occupationss?
No, not compared to the national average.The average salary of $73,690 is significantly below the national average of $94,590, although the cost of living is on par with the national average.
Is Southwest Virginia nonmetropolitan area a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Southwest Virginia nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Southwest Virginia nonmetropolitan area?
Some top paying nearby cities include Charlottesville, VA ($90,440) and Richmond, VA.
What is the average salary for Business and Financial Operations roles in Southwest Virginia?
The average annual salary for Business and Financial Operations Occupations in the Southwest Virginia nonmetropolitan area is $73,690.
How does Southwest Virginia's cost of living compare to the national average?
Southwest Virginia's nonmetropolitan area has a Cost of Living Index of 100, which is exactly the national average.
Is there high demand for Business and Financial Operations professionals in this region?
With a Location Quotient of 0.54, these roles are less concentrated than the national average, suggesting a moderate demand and potentially less competition.
How many Business and Financial Operations jobs are there per 1,000 workers in Southwest Virginia?
There are approximately 36.156 jobs per 1,000 workers in Business and Financial Operations Occupations within the Southwest 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 4,260 employees in the Southwest Virginia nonmetropolitan area area with a job density of 36.156 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 Virginia nonmetropolitan area