Average Business and Financial Operations Occupations Salary in Springfield, OH
In Springfield, OH, professionals in Business and Financial Operations Occupations earn an average annual salary of $70,130. This figure is notably below the national average of $94,590, reflecting regional economic factors and the specific demand dynamics within the local market. The lower average salary can be attributed to a variety of localized economic conditions and the competitive landscape for these roles in the area.
Executive Summary
- Average Salary: $70,130 per year.
- Growth Trend: Salaries have shifted 4.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $106,150.
- Outlook: The Business and Financial Operations sector in Springfield, OH, comprises a workforce of 1,940 individuals. With a Location Quotient of 0.61, this indicates that these occupations are less concentrated in Springfield compared to the national average. While the absolute number of jobs per 1,000 workers (40.925) suggests a presence, the lower LQ points to a market that may not be experiencing the same level of specialized demand as other regions, suggesting moderate but not explosive growth potential.
Salary Overview
The average Business and Financial Operations Occupations in Springfield, OH earns-25.9%below the national average.
$33.7
$1,349
$5,844
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for Springfield, OH, is not provided, it's generally assumed that salaries within Business and Financial Operations Occupations have seen incremental growth over the past four years, mirroring broader economic trends. This growth is typically driven by inflation, increased demand for financial expertise, and the evolving complexity of business operations, leading to modest but consistent upward adjustments in compensation across the sector.
Business and Financial Operations Occupations Salary Distribution in Springfield, OH
Career progression within Business and Financial Operations Occupations in Springfield, OH, significantly impacts earning potential. Entry-level positions typically start at the lower end of the salary spectrum, while seasoned professionals with extensive experience and specialized skills can command substantially higher incomes. The percentile gaps between entry-level and senior roles highlight the substantial opportunities for salary growth and career advancement within this field as one accumulates expertise and takes on greater responsibilities.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $37,470 | $18 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $52,598 | $25.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $63,750 | $30.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $87,663 | $42.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $106,150 | $51 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$70,130
Gross Pay
Real Wage (Purchasing Power)
$70,130
Adjusted for COL (100)
The average annual salary of $70,130 in Springfield, OH, aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of the local salary is equivalent to the national average, offering a stable financial environment for residents. While the nominal salary is lower than the national average, the equivalent cost of living suggests that the take-home pay in Springfield offers a comparable lifestyle to that experienced in higher-cost areas.
Job Market Context
1,940
Total Jobs
40.925
Per 1K Jobs
0.61
Location Quotient
Springfield, OH has 0.61x 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 0.61, the market for Business and Financial Operations Occupations in Springfield, OH, is less concentrated than the national average. This suggests that while these roles are present, they are not a dominant industry sector within the local economy. Consequently, the job market may be less competitive for highly specialized roles but could also indicate fewer opportunities for rapid career advancement compared to more robustly concentrated markets.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
Comparing salaries near Springfield, OH
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Springfield, OH?
The median annual salary for a Business and Financial Operations Occupations in Springfield, OH is $70,130. This typically ranges from $37,470 for entry-level positions to $106,150 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Springfield, OH is 25.9% lower than the national median of $94,590.
Is Springfield, OH a lucrative place for Business and Financial Operations Occupationss?
No, not exceptionally lucrative compared to national averages.The average salary of $70,130 is significantly lower than the national average of $94,590. However, the cost of living is also at the national average, meaning the salary's purchasing power is comparable.
Is Springfield, OH a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Springfield, OH is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Springfield, OH?
Some top paying nearby cities include Dayton-Kettering-Beavercreek, OH ($92,510) and Columbus, OH.
How does the local workforce size affect job opportunities?
A local workforce of 1,940 in Business and Financial Operations suggests a moderate-sized sector. While not as large as in major metropolitan areas, it provides a stable base for employment opportunities within Springfield, OH.
What does a Location Quotient of 0.61 mean for job seekers?
A Location Quotient below 1.0, like 0.61, indicates that Business and Financial Operations Occupations are less prevalent in Springfield, OH, than the national average. This might mean fewer specialized roles but potentially less competition for general positions.
How does the cost of living impact the $70,130 salary?
With a Cost of Living Index of 100, the $70,130 salary in Springfield, OH, offers purchasing power equivalent to the national average. This means your earnings will stretch similarly to what they would in a typical US city.
Are there many Business and Financial Operations jobs per capita in Springfield, OH?
Springfield, OH, has 40.925 jobs per 1,000 workers in Business and Financial Operations. This rate is lower than the national average, suggesting a moderate presence of these roles relative to the overall workforce.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,940 employees in the Springfield, OH area with a job density of 40.925 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, OH