Average Business and Financial Operations Occupations Salary in Sumter, SC
In Sumter, SC, professionals in Business and Financial Operations Occupations earn an average annual salary of $78,580. This figure is notably below the national average of $94,590, reflecting localized economic factors and industry demand specific to the Sumter region. The distinct economic landscape of Sumter influences compensation levels for these vital roles.
Executive Summary
- Average Salary: $78,580 per year.
- Growth Trend: Salaries have shifted 16.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $119,310.
- Outlook: The Business and Financial Operations sector in Sumter, SC, comprises a workforce of 1,580 individuals. With a Location Quotient of 0.67, this indicates a concentration of these roles that is below the national average, suggesting a potentially less saturated but also less dominant market for these professionals within the local economy. The number of jobs per 1,000 workers stands at 44.893, providing a benchmark for the prevalence of these occupations.
Salary Overview
The average Business and Financial Operations Occupations in Sumter, SC earns-16.9%below the national average.
$37.8
$1,511
$6,548
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for Sumter's Business and Financial Operations Occupations is not provided, it is generally assumed that salaries within this sector have experienced steady growth over the past four years, mirroring national trends. Economic development and increasing demand for financial expertise typically drive upward salary adjustments, even in localized markets.
Business and Financial Operations Occupations Salary Distribution in Sumter, SC
Salary progression for Business and Financial Operations roles in Sumter, SC, is significantly influenced by experience. Entry-level positions typically command lower salaries, while seasoned professionals with specialized skills and a proven track record can expect substantially higher compensation. The percentile gaps between different experience levels highlight clear opportunities for career advancement and increased earning potential within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $40,230 | $19.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $58,935 | $28.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $74,840 | $36 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $98,225 | $47.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $119,310 | $57.4 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$78,580
Gross Pay
Real Wage (Purchasing Power)
$78,580
Adjusted for COL (100)
The average annual salary of $78,580 in Sumter, SC, aligns precisely 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 is equivalent to the national standard, offering a stable financial footing for residents.
Job Market Context
1,580
Total Jobs
44.893
Per 1K Jobs
0.67
Location Quotient
Sumter, SC has 0.67x 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 0.67 for Business and Financial Operations Occupations in Sumter, SC, signifies that these roles are less concentrated locally compared to the national average. This suggests that while the demand might not be as robust as in larger metropolitan areas, there may be fewer professionals competing for available positions, potentially offering unique opportunities for skilled individuals.
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Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Sumter, SC?
The median annual salary for a Business and Financial Operations Occupations in Sumter, SC is $78,580. This typically ranges from $40,230 for entry-level positions to $119,310 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Sumter, SC is 16.9% lower than the national median of $94,590.
Is Sumter, SC a lucrative place for Business and Financial Operations Occupationss?
No, not when compared to national averages.The average salary of $78,580 is significantly lower than the national average of $94,590. However, the cost of living being at the national average means the purchasing power is comparable.
Is Sumter, SC a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Sumter, SC is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Sumter, SC?
Some top paying nearby cities include Columbia, SC ($80,160) and Northwestern South Carolina nonmetropolitan area.
How does Sumter's salary for these roles compare to the national average?
The average salary in Sumter, SC, is $78,580, which is below the national average of $94,590 for Business and Financial Operations Occupations.
What is the Cost of Living in Sumter, SC?
Sumter, SC, has a Cost of Living Index of 100, which is exactly at the national average.
How concentrated are Business and Financial Operations jobs in Sumter?
The concentration of these jobs in Sumter, indicated by a Location Quotient of 0.67, is below the national average, suggesting a less dense presence of these roles compared to the rest of the country.
What is the total workforce for Business and Financial Operations in Sumter?
There are approximately 1,580 individuals employed in Business and Financial Operations Occupations in Sumter, SC.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,580 employees in the Sumter, SC area with a job density of 44.893 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 Sumter, SC