In the Upper Peninsula of Michigan's nonmetropolitan area, professionals in Business and Financial Operations Occupations can expect an average annual salary of $70,510. This figure is notably below the national average of $94,590, reflecting the unique economic landscape and demand specific to this region. Localized economic factors and industry concentration significantly influence compensation levels compared to broader national trends.
Executive Summary
- Average Salary: $70,510 per year.
- Growth Trend: Salaries have shifted 13.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $104,960.
- Outlook: The Business and Financial Operations sector in the Upper Peninsula of Michigan's nonmetropolitan area comprises a workforce of 4,760 individuals. With a Location Quotient of 0.64, the concentration of these roles is below the national average, suggesting a less saturated but potentially less robust job market. The presence of 42.796 jobs per 1,000 workers indicates a steady, albeit not dominant, demand for these essential operational functions within the local economy.
Salary Overview
The average Business and Financial Operations Occupations in Upper Peninsula of Michigan nonmetropolitan area earns-25.5%below the national average.
$33.9
$1,356
$5,876
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for this niche sector in the Upper Peninsula is not provided, it is reasonable to assume a general trend of salary growth mirroring national patterns over the past four years. Economic recovery and evolving business needs likely contribute to incremental increases in compensation for Business and Financial Operations professionals, aiming to keep pace with inflation and regional economic development.
Business and Financial Operations Occupations Salary Distribution in Upper Peninsula of Michigan nonmetropolitan area
Career progression within Business and Financial Operations Occupations typically leads to significant salary increases. Entry-level positions may start at the lower end of the pay scale, while seasoned professionals with specialized skills and extensive experience can command salaries well above the average. The widening percentile gaps between junior and senior roles underscore the value placed on expertise and leadership within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $39,780 | $19.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $52,883 | $25.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $62,840 | $30.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $88,138 | $42.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $104,960 | $50.5 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$70,510
Gross Pay
Real Wage (Purchasing Power)
$70,510
Adjusted for COL (100)
The average annual salary of $70,510 in the Upper Peninsula of Michigan's nonmetropolitan area aligns perfectly with the national average Cost of Living Index of 100. This means that, on average, the purchasing power of this salary is equivalent to the national average, offering a stable financial standing relative to the cost of goods and services within the region.
Job Market Context
4,760
Total Jobs
42.796
Per 1K Jobs
0.64
Location Quotient
Upper Peninsula of Michigan nonmetropolitan area has 0.64x 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 0.64 indicates that Business and Financial Operations Occupations are less concentrated in the Upper Peninsula of Michigan's nonmetropolitan area compared to the national average. This suggests that while these roles are present and necessary, the market is not saturated, potentially offering opportunities for skilled professionals but also implying a smaller overall demand pool than in more densely populated or industrially diverse areas.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| Midland, MI Business and Financial Operations Occupations Salary | $87,570↑ 24% | 26 mi |
| Saginaw, MI Business and Financial Operations Occupations Salary | $75,640↑ 7% | 30 mi |
| Bay City, MI Business and Financial Operations Occupations Salary | $72,280↑ 3% | 37 mi |
| Lansing-East Lansing, MI Business and Financial Operations Occupations Salary | $79,720↑ 13% | 42 mi |
| Flint, MI Business and Financial Operations Occupations Salary | $76,360↑ 8% | 47 mi |
Comparing salaries near Upper Peninsula of Michigan nonmetropolitan area
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Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Upper Peninsula of Michigan nonmetropolitan area?
The median annual salary for a Business and Financial Operations Occupations in Upper Peninsula of Michigan nonmetropolitan area is $70,510. This typically ranges from $39,780 for entry-level positions to $104,960 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Upper Peninsula of Michigan nonmetropolitan area is 25.5% lower than the national median of $94,590.
Is Upper Peninsula of Michigan nonmetropolitan area a lucrative place for Business and Financial Operations Occupationss?
No, not compared to the national average.The average salary of $70,510 is significantly lower than the national average of $94,590, despite a national average cost of living. While the cost of living is neutral, the nominal salary indicates less lucrative opportunities in this specific region.
Is Upper Peninsula of Michigan nonmetropolitan area a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Upper Peninsula of Michigan nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Upper Peninsula of Michigan nonmetropolitan area?
Some top paying nearby cities include Midland, MI ($87,570) and Saginaw, MI.
How does the Upper Peninsula's cost of living compare nationally?
The cost of living in the Upper Peninsula of Michigan's nonmetropolitan area is exactly at the national average, with an index of 100. This means that the general expenses for goods and services are comparable to the national benchmark.
What is the concentration of Business and Financial Operations jobs in this area?
The concentration, measured by the Location Quotient, is 0.64, which is below the national average of 1.0. This indicates that these types of jobs are less prevalent in this region compared to the rest of the country.
How many Business and Financial Operations professionals work in this region?
There are approximately 4,760 individuals employed in Business and Financial Operations Occupations within the Upper Peninsula of Michigan's nonmetropolitan area.
Are there many job opportunities for Business and Financial Operations roles in this area?
With 42.796 jobs per 1,000 workers, the availability of Business and Financial Operations roles is present but not exceptionally high, reflecting the region's specific economic structure and demand.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 4,760 employees in the Upper Peninsula of Michigan nonmetropolitan area area with a job density of 42.796 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 Upper Peninsula of Michigan nonmetropolitan area