Average Chief Executives Salary in New Jersey
Chief Executives in New Jersey command an impressive average annual salary of $465,040, significantly outpacing the national average of $283,090. This substantial difference is likely driven by New Jersey's robust corporate landscape, high concentration of major industries, and the complex demands placed upon executive leadership within these dynamic environments. The state's economic infrastructure and the strategic importance of its businesses necessitate highly compensated leadership.
Executive Summary
- Average Salary: $465,040 per year.
- Growth Trend: Salaries have shifted 79.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $697,560.
- Outlook: With a local workforce of 2,120 Chief Executives, New Jersey demonstrates a notable presence in this high-level occupational category. The Location Quotient of 0.36 suggests that while not as concentrated as the national average, the state still supports a significant number of these critical roles. This indicates a stable, albeit not hyper-concentrated, demand for executive talent, suggesting a solid job market for experienced leaders.
Salary Overview
The average Chief Executives in New Jersey earns+64.3%above the national average.
$223.6
$8,943
$38,753
Chief Executives Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Chief Executives in New Jersey have experienced consistent growth over the past four years, mirroring national trends. Economic expansion, inflation, and increasing corporate complexity typically drive upward pressure on executive compensation, ensuring that these roles remain highly valued and remunerated.
Chief Executives Salary Distribution in New Jersey
The salary trajectory for Chief Executives in New Jersey escalates significantly with experience. Entry-level positions, though rare at this executive level, would command considerably less than the average, while seasoned executives with decades of proven leadership and strategic success can expect compensation well into the upper percentiles. The substantial gap between lower and upper salary ranges signifies clear career progression and the immense value placed on extensive experience and demonstrated performance.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $165,420 | $79.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $348,780 | $167.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $465,046 | $223.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $581,300 | $279.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $697,560 | $335.4 |
Detailed Chief Executives Market Analysis
Relocation Context
Nominal Salary
$465,040
Gross Pay
Real Wage (Purchasing Power)
$413,737
Adjusted for COL (112.4)
The average annual salary of $465,040 in New Jersey presents a strong nominal income. However, with a Cost of Living Index of 112.4, which is 12.4% higher than the national average, the purchasing power of this salary is somewhat tempered. While still providing a high standard of living, individuals must factor in the increased expenses for housing, goods, and services when evaluating the true financial benefit of working in the state.
Job Market Context
2,120
Total Jobs
0.498
Per 1K Jobs
0.36
Location Quotient
At 0.36x, New Jersey has a notably lower concentration of Chief Executives jobs than the national average. Opportunities in this area are relatively scarce for this profession.
A Location Quotient of 0.36 indicates that Chief Executive roles are less concentrated in New Jersey compared to the national average. This suggests that while there is a substantial number of these positions, the market is not saturated. It implies a competitive environment where experienced and highly qualified candidates are sought after, but perhaps not in overwhelming numbers relative to other professions or states.
Nearby Job Markets
Nearby Cities for Chief Executives
| City | Salary | Dist. |
|---|---|---|
| New York-Newark-Jersey City, NY-NJ Chief Executives Salary | $415,630↓ 11% | 39 mi |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Chief Executives Salary | $316,130↓ 32% | 42 mi |
| Allentown-Bethlehem-Easton, PA-NJ Chief Executives Salary | $289,800↓ 38% | 54 mi |
Comparing salaries near New Jersey
Hiring Chief Executivess?
Frequently Asked Questions
How much does a Chief Executives make in New Jersey?
The median annual salary for a Chief Executives in New Jersey is $465,040. This typically ranges from $165,420 for entry-level positions to $697,560 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in New Jersey is 64.3% higher than the national median of $283,090.
Is New Jersey a lucrative place for Chief Executives?
Yes, New Jersey is a highly lucrative state for Chief Executives.The average salary of $465,040 significantly exceeds the national average, indicating strong earning potential. Despite a higher cost of living, the nominal compensation remains exceptionally high.
Is New Jersey a good place to live for Chief Executives?
The Cost of Living Index in New Jersey is 112.4. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near New Jersey?
Some top paying nearby cities include New York-Newark-Jersey City, NY-NJ ($415,630) and Philadelphia-Camden-Wilmington, PA-NJ-DE-MD.
How does New Jersey's Chief Executive salary compare to the national average?
Chief Executives in New Jersey earn an average of $465,040 annually, which is substantially higher than the national average of $283,090.
What is the concentration of Chief Executive jobs in New Jersey?
New Jersey has a Location Quotient of 0.36 for Chief Executives, meaning these roles are less concentrated than the national average, suggesting a competitive but stable job market.
How does the cost of living affect the Chief Executive salary in New Jersey?
With a Cost of Living Index of 112.4, New Jersey is more expensive than the national average. While the $465,040 salary is high, the increased cost of living should be considered for purchasing power.
What does the number of jobs per 1,000 workers indicate for Chief Executives in New Jersey?
The figure of 0.498 jobs per 1,000 workers suggests a moderate presence of Chief Executive roles within the overall New Jersey workforce, reflecting a stable demand for executive leadership.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 2,120 employees in the New Jersey area with a job density of 0.498 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 New Jersey
- All Occupations Salary in New Jersey
- Office and Administrative Support Occupations Salary in New Jersey
- Transportation and Material Moving Occupations Salary in New Jersey
- Sales and Related Occupations Salary in New Jersey
- Food Preparation and Serving Related Occupations Salary in New Jersey
- Management Occupations Salary in New Jersey
- Educational Instruction and Library Occupations Salary in New Jersey
- Business and Financial Operations Occupations Salary in New Jersey
- Healthcare Practitioners and Technical Occupations Salary in New Jersey
- Healthcare Support Occupations Salary in New Jersey
- Browse All Jobs in New Jersey →
Semantic Salary Analysis for Chief Executives • Data source: BLS OEWS 2024 •Jobs in New Jersey