Average Business and Financial Operations Occupations Salary in Virgin Islands
In the Virgin Islands, professionals in Business and Financial Operations Occupations earn an average annual salary of $63,580. This figure is notably lower than the national average of $94,590, reflecting a localized economic landscape that influences compensation. Factors such as industry concentration and regional demand play a significant role in shaping these pay scales.
Executive Summary
- Average Salary: $63,580 per year.
- Growth Trend: Salaries have shifted 1.9% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $96,910.
- Outlook: The Virgin Islands hosts a workforce of 1,690 individuals in Business and Financial Operations Occupations, with a jobs-per-1,000-workers ratio of 50.768. The Location Quotient of 0.76 suggests that this sector is slightly underrepresented compared to the national average, indicating a stable but not rapidly expanding job market.
Salary Overview
The average Business and Financial Operations Occupations in Virgin Islands earns-32.8%below the national average.
$30.6
$1,223
$5,298
Business and Financial Operations Occupations Salary Trends (2020-2024)
While specific historical data for the Virgin Islands is not provided, it is generally assumed that salaries within Business and Financial Operations Occupations have experienced a modest upward trend over the past four years, mirroring broader economic recovery and inflation adjustments. This growth is typically driven by increasing demand for financial expertise and evolving business needs.
Business and Financial Operations Occupations Salary Distribution in Virgin Islands
Salary progression within Business and Financial Operations Occupations in the Virgin Islands, as elsewhere, is strongly tied to experience. Entry-level positions typically start at the lower end of the pay scale, while senior roles commanding higher salaries reflect accumulated expertise and responsibility. The percentile distribution of salaries highlights these significant gaps, underscoring the potential for substantial career and financial advancement.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $36,030 | $17.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $47,685 | $22.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $57,960 | $27.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $79,475 | $38.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $96,910 | $46.6 |
Detailed Business and Financial Operations Occupations Market Analysis
Relocation Context
Nominal Salary
$63,580
Gross Pay
Real Wage (Purchasing Power)
$52,983
Adjusted for COL (120)
The average annual salary of $63,580 in the Virgin Islands must be considered in light of the local Cost of Living Index, which stands at 120. This means that goods and services are approximately 20% more expensive than the national average. Consequently, the purchasing power of the nominal salary is reduced, requiring careful financial planning for residents.
Job Market Context
1,690
Total Jobs
50.768
Per 1K Jobs
0.76
Location Quotient
Virgin Islands has 0.76x 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 0.76, the Business and Financial Operations Occupations sector in the Virgin Islands is less concentrated than the national average. This suggests that while opportunities exist, the market may not be as saturated with professionals in this field, potentially offering a competitive edge for skilled individuals seeking employment.
Nearby Job Markets
Nearby Cities for Business and Financial Operations Occupations
| City | Salary | Dist. |
|---|---|---|
| San Juan-Bayamon-Caguas, PR Business and Financial Operations Occupations Salary | $49,390↓ 22% | 76 mi |
| Guayama, PR Business and Financial Operations Occupations Salary | $46,870↓ 26% | 84 mi |
Comparing salaries near Virgin Islands
Hiring Business and Financial Operations Occupationss?
Frequently Asked Questions
How much does a Business and Financial Operations Occupations make in Virgin Islands?
The median annual salary for a Business and Financial Operations Occupations in Virgin Islands is $63,580. This typically ranges from $36,030 for entry-level positions to $96,910 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Virgin Islands is 32.8% lower than the national median of $94,590.
Is Virgin Islands a lucrative place for Business and Financial Operations Occupationss?
No, not when considering the cost of living.While the average salary is $63,580, the higher cost of living (120 index) significantly impacts the real value of this income compared to national averages.
Is Virgin Islands a good place to live for Business and Financial Operations Occupations?
The Cost of Living Index in Virgin Islands is 120. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Virgin Islands?
Some top paying nearby cities include San Juan-Bayamon-Caguas, PR ($49,390) and Guayama, PR.
How does the Virgin Islands' Business and Financial Operations salary compare to the national average?
The average salary of $63,580 in the Virgin Islands is substantially lower than the national average of $94,590.
What is the concentration of Business and Financial Operations jobs in the Virgin Islands?
The Location Quotient of 0.76 indicates that this sector is slightly less concentrated in the Virgin Islands compared to the national average.
How does the cost of living affect the salary in the Virgin Islands?
The cost of living in the Virgin Islands is 20% higher than the national average, which means the $63,580 salary has less purchasing power than it would in a location with a 100 cost of living index.
What is the total workforce size for Business and Financial Operations in the Virgin Islands?
There are approximately 1,690 individuals employed in Business and Financial Operations Occupations in the Virgin Islands.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,690 employees in the Virgin Islands area with a job density of 50.768 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 Virgin Islands