Average Chief Executives Salary in Grand Rapids-Wyoming-Kentwood, MI
Chief Executives in the Grand Rapids-Wyoming-Kentwood, MI area earn an average annual salary of $276,390. This figure is slightly below the national average of $283,090, suggesting that while the role is compensated well, local economic factors and industry concentration may influence the precise pay scale compared to broader national trends.
Executive Summary
- Average Salary: $276,390 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $414,585.
- Outlook: With a total local workforce of 480 individuals in this role, the Grand Rapids-Wyoming-Kentwood area demonstrates a stable, albeit niche, market for Chief Executives. The Location Quotient of 0.62 indicates a concentration that is below the national average, suggesting that while opportunities exist, the demand is not as pronounced as in larger metropolitan hubs, making it a moderately competitive landscape for executive talent.
Salary Overview
The average Chief Executives in Grand Rapids-Wyoming-Kentwood, MI earns-2.4%below the national average.
$132.9
$5,315
$23,033
Chief Executives Salary Trends (2020-2024)
While specific historical data for this precise role in Grand Rapids is not provided, it is generally assumed that executive compensation, including that of Chief Executives, has seen consistent growth over the past four years, mirroring broader economic trends and inflation. This upward trajectory is typically driven by increasing business complexity, evolving market demands, and the persistent need for strong leadership to navigate these challenges.
Chief Executives Salary Distribution in Grand Rapids-Wyoming-Kentwood, MI
The salary progression for Chief Executives typically shows a significant increase with experience. Entry-level positions, while rare for this title, would command a lower base, whereas seasoned executives with decades of proven leadership and strategic success can expect compensation well into the higher percentiles, often exceeding $350,000 annually. The substantial gap between the lower and upper salary percentiles underscores the immense value placed on experience and demonstrated impact in this critical leadership role.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $88,440 | $42.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $207,293 | $99.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $220,960 | $106.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $345,488 | $166.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $414,585 | $199.3 |
Detailed Chief Executives Market Analysis
Relocation Context
Nominal Salary
$276,390
Gross Pay
Real Wage (Purchasing Power)
$276,390
Adjusted for COL (100)
The nominal average salary of $276,390 in Grand Rapids-Wyoming-Kentwood, MI, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of a Chief Executive's salary in this area is equivalent to the national standard, offering a stable financial environment without the premium often associated with higher cost-of-living regions.
Job Market Context
480
Total Jobs
0.851
Per 1K Jobs
0.62
Location Quotient
Grand Rapids-Wyoming-Kentwood, MI has 0.62x the national average concentration of Chief Executives jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
The Location Quotient of 0.62 for Chief Executives in Grand Rapids-Wyoming-Kentwood, MI, signifies that this profession is less concentrated locally compared to the national average. This suggests that while the role is present and valued, the market is not saturated, potentially offering unique opportunities for skilled executives to establish themselves without facing the intense competition found in areas with a higher concentration of similar roles.
Nearby Job Markets
Nearby Cities for Chief Executives
| City | Salary | Dist. |
|---|---|---|
| Muskegon-Norton Shores, MI Chief Executives Salary | $210,850↓ 24% | 35 mi |
| Kalamazoo-Portage, MI Chief Executives Salary | $286,950↑ 4% | 48 mi |
| Battle Creek, MI Chief Executives Salary | $304,200↑ 10% | 51 mi |
| Lansing-East Lansing, MI Chief Executives Salary | $266,940↓ 3% | 58 mi |
| Mid Michigan nonmetropolitan area Chief Executives Salary | $192,940↓ 30% | 62 mi |
Comparing salaries near Grand Rapids-Wyoming-Kentwood, MI
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Frequently Asked Questions
How much does a Chief Executives make in Grand Rapids-Wyoming-Kentwood, MI?
The median annual salary for a Chief Executives in Grand Rapids-Wyoming-Kentwood, MI is $276,390. This typically ranges from $88,440 for entry-level positions to $414,585 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Grand Rapids-Wyoming-Kentwood, MI is 2.4% lower than the national median of $283,090.
Is Grand Rapids-Wyoming-Kentwood, MI a lucrative place for Chief Executives?
Yes, with caveats.The average salary of $276,390 is competitive and aligns with the national cost of living. However, it is slightly below the national average salary for the role, indicating potential for higher earnings in other markets.
Is Grand Rapids-Wyoming-Kentwood, MI a good place to live for Chief Executives?
The Cost of Living Index in Grand Rapids-Wyoming-Kentwood, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Grand Rapids-Wyoming-Kentwood, MI?
Some top paying nearby cities include Muskegon-Norton Shores, MI ($210,850) and Kalamazoo-Portage, MI.
How does the Grand Rapids salary compare to the national average?
The average salary for Chief Executives in Grand Rapids-Wyoming-Kentwood, MI is $276,390, which is slightly lower than the national average of $283,090.
What is the job concentration for Chief Executives in this area?
The Location Quotient is 0.62, meaning the concentration of Chief Executive roles in Grand Rapids-Wyoming-Kentwood, MI is 38% lower than the national average.
How does the cost of living affect the Chief Executive salary in Grand Rapids?
With a Cost of Living Index of 100, the Grand Rapids-Wyoming-Kentwood, MI area has a cost of living equivalent to the national average, meaning the $276,390 salary offers standard purchasing power.
What does the number of local workers suggest about the market?
A total of 480 Chief Executives in the local workforce indicates a moderate presence of these high-level positions within the Grand Rapids-Wyoming-Kentwood, MI economic landscape.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 480 employees in the Grand Rapids-Wyoming-Kentwood, MI area with a job density of 0.851 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Chief Executives • Data source: BLS OEWS 2024 •Jobs in Grand Rapids-Wyoming-Kentwood, MI