Average Business and Financial Operations Occupations Salary in Springfield, MA
In Springfield, MA, professionals in Business and Financial Operations Occupations earn an average annual salary of $89,330. This figure is slightly below the national average of $94,590, indicating a localized compensation structure that may be influenced by regional economic factors and the specific demand for these roles within the Massachusetts market.
Executive Summary
- Average Salary: $89,330 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $136,940.
- Outlook: Springfield, MA supports a substantial workforce of 9,470 individuals within Business and Financial Operations Occupations. The Location Quotient of 0.71 suggests that while these roles are present, they are not as concentrated as the national average, implying a stable but not overly saturated job market. The presence of 47.635 jobs per 1,000 workers indicates a consistent demand for these essential business functions.
Salary Overview
The average Business and Financial Operations Occupations in Springfield, MA earns-5.6%below the national average.
$43
$1,718
$7,444
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that salaries for Business and Financial Operations Occupations in Springfield, MA, have experienced steady growth over the past four years, mirroring national trends. This growth is typically driven by inflation, increasing demand for specialized financial expertise, and the evolving complexity of business operations.
Business and Financial Operations Occupations Salary Distribution in Springfield, MA
Within the Business and Financial Operations Occupations field, salary progression is strongly tied to experience and specialization. Entry-level positions typically fall into the lower percentiles, while seasoned professionals with extensive experience and advanced certifications can command salaries in the upper percentiles. The widening gap between entry-level and senior roles signifies clear career advancement opportunities and the increasing value placed on expertise.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $48,700 | $23.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $66,998 | $32.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $79,760 | $38.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $111,663 | $53.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $136,940 | $65.8 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$89,330
Gross Pay
Real Wage (Purchasing Power)
$89,330
Adjusted for COL (100)
The average annual salary of $89,330 in Springfield, MA, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the nominal salary offers purchasing power equivalent to the national average, providing a stable financial foundation for residents without the immediate pressure of higher or lower living expenses compared to the rest of the country.
Job Market Context
9,470
Total Jobs
47.635
Per 1K Jobs
0.71
Location Quotient
Springfield, MA has 0.71x 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 0.71, Springfield, MA, exhibits a slightly lower concentration of Business and Financial Operations Occupations compared to the national average. This suggests that while the market is active and provides ample opportunities, it may be less competitive than areas with a higher concentration, potentially offering a more accessible entry point for new professionals or those looking to relocate.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
Comparing salaries near Springfield, MA
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Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Springfield, MA?
The median annual salary for a Business and Financial Operations Occupations in Springfield, MA is $89,330. This typically ranges from $48,700 for entry-level positions to $136,940 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Springfield, MA is 5.6% lower than the national median of $94,590.
Is Springfield, MA a lucrative place for Business and Financial Operations Occupationss?
Moderately lucrative, with average pay aligning with the national cost of living.The average salary of $89,330 is slightly below the national average but matches the national cost of living index. This indicates a balanced financial environment rather than exceptional earning potential.
Is Springfield, MA a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Springfield, MA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Springfield, MA?
Some top paying nearby cities include Amherst Town-Northampton, MA ($84,170) and Hartford-West Hartford-East Hartford, CT.
How does Springfield's average salary compare to the national average for this field?
The average salary in Springfield, MA, is $89,330, which is approximately 5.5% lower than the national average of $94,590 for Business and Financial Operations Occupations.
What is the significance of the Location Quotient (LQ) for this role in Springfield?
An LQ of 0.71 means that Business and Financial Operations Occupations are 29% less concentrated in Springfield compared to the national average. This suggests a stable job market that is not overly saturated.
How does the Cost of Living in Springfield affect the salary?
With a Cost of Living Index of 100, Springfield's cost of living is exactly at the national average. Therefore, the $89,330 salary provides purchasing power equivalent to the national average.
What does 'Jobs per 1,000 Workers' indicate for this sector in Springfield?
The figure of 47.635 jobs per 1,000 workers indicates the relative prevalence of Business and Financial Operations roles within the local workforce, suggesting a consistent demand for these professionals.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 9,470 employees in the Springfield, MA area with a job density of 47.635 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 Springfield, MA