Average Chief Executives Salary in Minnesota
Chief Executives in Minnesota command an average annual salary of $243,330, which is notably below the national average of $283,090. This differential suggests that while Minnesota offers a substantial compensation package for top leadership roles, the specific economic landscape and industry demands within the state may influence executive compensation structures compared to the broader national market.
Executive Summary
- Average Salary: $243,330 per year.
- Growth Trend: Salaries have shifted 22.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $364,995.
- Outlook: With a total local workforce of 6,690 Chief Executives, Minnesota demonstrates a significant presence in this high-level occupational category. The Location Quotient of 1.67 indicates a concentration of these roles that is 67% higher than the national average, signaling robust demand and a potentially competitive market for executive talent within the state.
Salary Overview
The average Chief Executives in Minnesota earns-14.0%below the national average.
$117
$4,679
$20,278
Chief Executives Salary Trends (2020-2024)
While specific historical data for Minnesota's Chief Executive salaries over the past four years is not provided, it is generally assumed that compensation for such senior roles experiences consistent growth, mirroring broader economic trends and inflation. Increases in the cost of doing business, company performance, and the demand for experienced leadership typically drive upward adjustments in executive pay over time.
Chief Executives Salary Distribution in Minnesota
The salary range for Chief Executives in Minnesota, like elsewhere, is heavily influenced by experience. Entry-level positions, though rare for this title, would command significantly less than the average, while seasoned executives with decades of proven success and strategic impact can earn substantially more. The wide percentile gaps in compensation clearly signify the extensive career progression and the value placed on accumulated expertise and leadership acumen at the highest levels.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $88,150 | $42.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $182,498 | $87.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $194,160 | $93.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $304,163 | $146.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $364,995 | $175.5 |
Detailed Chief Executives Market Analysis
Relocation Context
Nominal Salary
$243,330
Gross Pay
Real Wage (Purchasing Power)
$257,765
Adjusted for COL (94.4)
The average annual salary of $243,330 in Minnesota presents a strong purchasing power, especially when considered against the local Cost of Living Index of 94.4. This index is slightly below the national average (100), meaning that the nominal salary earned by Chief Executives in Minnesota can potentially afford a higher standard of living than the same salary would in a more expensive region.
Job Market Context
6,690
Total Jobs
2.29
Per 1K Jobs
1.67
Location Quotient
Minnesota has 1.7x the national concentration of Chief Executives jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
Minnesota's Location Quotient of 1.67 for Chief Executives is a compelling indicator of a market where these roles are more concentrated than the national average. This suggests a potentially robust and active job market for executive leadership, with companies actively seeking and retaining top talent. While this concentration points to opportunity, it also implies a competitive environment where experienced and highly qualified individuals are in demand.
Nearby Job Markets
Nearby Cities for Chief Executives
| City | Salary | Dist. |
|---|---|---|
| St. Cloud, MN Chief Executives Salary | $238,120↓ 2% | 17 mi |
| Minneapolis-St. Paul-Bloomington, MN-WI Chief Executives Salary | $265,030↑ 9% | 58 mi |
Comparing salaries near Minnesota
Hiring Chief Executivess?
Frequently Asked Questions
How much does a Chief Executives make in Minnesota?
The median annual salary for a Chief Executives in Minnesota is $243,330. This typically ranges from $88,150 for entry-level positions to $364,995 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Minnesota is 14.0% lower than the national median of $283,090.
Is Minnesota a lucrative place for Chief Executives?
Yes, Minnesota offers a lucrative environment for Chief Executives, with a strong concentration of these roles and a cost of living below the national average.While the average salary is below the national figure, the high concentration of executive roles (LQ of 1.67) and a cost of living index below 100 indicate a favorable market for high earners.
Is Minnesota a good place to live for Chief Executives?
With a Cost of Living Index of 94.4 (lower than the national average of 100), your salary goes further here.
Where are the highest paying cities near Minnesota?
Some top paying nearby cities include St. Cloud, MN ($238,120) and Minneapolis-St. Paul-Bloomington, MN-WI.
How does Minnesota's Chief Executive salary compare to the national average?
The average annual salary for Chief Executives in Minnesota is $243,330, which is lower than the national average of $283,090.
What does the Location Quotient of 1.67 mean for Chief Executives in Minnesota?
A Location Quotient of 1.67 signifies that Chief Executive roles are 67% more concentrated in Minnesota than the national average, indicating a stronger presence and potentially higher demand for these positions within the state.
Is the cost of living in Minnesota favorable for executives?
Yes, with a Cost of Living Index of 94.4, Minnesota is slightly more affordable than the national average (100), meaning the $243,330 salary can offer a good standard of living.
How many Chief Executives are there in Minnesota?
There are approximately 6,690 Chief Executives employed in Minnesota, representing 2.29 jobs per 1,000 workers in the state's total workforce.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 6,690 employees in the Minnesota area with a job density of 2.29 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
Explore Chief Executives Salaries by State
Top Jobs in Minnesota
- All Occupations Salary in Minnesota
- Office and Administrative Support Occupations Salary in Minnesota
- Sales and Related Occupations Salary in Minnesota
- Food Preparation and Serving Related Occupations Salary in Minnesota
- Transportation and Material Moving Occupations Salary in Minnesota
- Business and Financial Operations Occupations Salary in Minnesota
- Production Occupations Salary in Minnesota
- Management Occupations Salary in Minnesota
- Healthcare Practitioners and Technical Occupations Salary in Minnesota
- Healthcare Support Occupations Salary in Minnesota
- Browse All Jobs in Minnesota →
Semantic Salary Analysis for Chief Executives • Data source: BLS OEWS 2024 •Jobs in Minnesota