Average Chief Executives Salary in Northwest Minnesota nonmetropolitan area
Chief Executives in the Northwest Minnesota nonmetropolitan area earn an average annual salary of $188,490. This figure is notably lower than the national average of $283,090, a disparity often influenced by the unique economic landscape and industry concentration within the region. The specific demands and opportunities present in this nonmetropolitan setting shape the compensation for top leadership roles.
Executive Summary
- Average Salary: $188,490 per year.
- Growth Trend: Salaries have shifted 17.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $282,735.
- Outlook: With a total local workforce of 360 individuals in this role, the market for Chief Executives in Northwest Minnesota nonmetropolitan area appears to be moderately sized. The location quotient of 1.36 suggests a slightly higher concentration of these positions compared to the national average, indicating a stable, albeit not booming, demand for executive talent within the region's specific economic framework.
Salary Overview
The average Chief Executives in Northwest Minnesota nonmetropolitan area earns-33.4%below the national average.
$90.6
$3,625
$15,708
Chief Executives Salary Trends (2020-2024)
While specific historical data for this precise region and role isn't provided, it's reasonable to assume that salaries for Chief Executives in nonmetropolitan areas have seen gradual growth over the past four years. Economic development, industry shifts, and inflation typically drive an upward trend in executive compensation, even in more localized markets, reflecting the increasing value placed on strategic leadership.
Chief Executives Salary Distribution in Northwest Minnesota nonmetropolitan area
The salary range for Chief Executives can vary significantly based on experience. Entry-level executive positions might command salaries closer to the lower percentiles, while seasoned leaders with extensive track records and proven success can expect compensation in the upper percentiles. The gap between these levels signifies the substantial career progression and increased responsibility associated with advancing in executive roles.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $54,630 | $26.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $141,368 | $68 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $143,990 | $69.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $235,613 | $113.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $282,735 | $135.9 |
Detailed Chief Executives Market Analysis
Relocation Context
Nominal Salary
$188,490
Gross Pay
Real Wage (Purchasing Power)
$188,490
Adjusted for COL (100)
The average annual salary of $188,490 in Northwest Minnesota nonmetropolitan area aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of an executive's salary in this region is comparable to the national standard, offering a stable financial environment without the added pressure of higher living expenses often found in major metropolitan hubs.
Job Market Context
360
Total Jobs
1.874
Per 1K Jobs
1.36
Location Quotient
With a location quotient of 1.36, Northwest Minnesota nonmetropolitan area has a slightly higher-than-average concentration of Chief Executives roles compared to the national norm.
A location quotient of 1.36 indicates that Chief Executive roles are 36% more concentrated in Northwest Minnesota nonmetropolitan area than the national average. This suggests a specialized demand for these positions within the local economy, potentially offering more opportunities relative to the overall job market size compared to national averages, though the total workforce number indicates a niche market.
Nearby Job Markets
Nearby Cities for Chief Executives
| City | Salary | Dist. |
|---|---|---|
| St. Cloud, MN Chief Executives Salary | $238,120↑ 26% | 17 mi |
| Minneapolis-St. Paul-Bloomington, MN-WI Chief Executives Salary | $265,030↑ 41% | 58 mi |
Comparing salaries near Northwest Minnesota nonmetropolitan area
Hiring Chief Executivess?
Frequently Asked Questions
How much does a Chief Executives make in Northwest Minnesota nonmetropolitan area?
The median annual salary for a Chief Executives in Northwest Minnesota nonmetropolitan area is $188,490. This typically ranges from $54,630 for entry-level positions to $282,735 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Northwest Minnesota nonmetropolitan area is 33.4% lower than the national median of $283,090.
Is Northwest Minnesota nonmetropolitan area a lucrative place for Chief Executives?
Yes, with caveats.While the average salary of $188,490 is below the national average, the cost of living is also at the national average, making the effective purchasing power comparable. The higher concentration of these roles (LQ 1.36) suggests a specialized demand within the region.
Is Northwest Minnesota nonmetropolitan area a good place to live for Chief Executives?
The Cost of Living Index in Northwest Minnesota nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Northwest Minnesota nonmetropolitan area?
Some top paying nearby cities include St. Cloud, MN ($238,120) and Minneapolis-St. Paul-Bloomington, MN-WI.
How does the salary compare to larger cities?
The average salary of $188,490 is significantly lower than in major metropolitan areas, which often offer higher compensation due to greater competition and cost of living. However, the cost of living in Northwest Minnesota is at the national average, mitigating some of this difference.
What is the significance of the Location Quotient (LQ)?
An LQ of 1.36 means that Chief Executive roles are 36% more common in this region than the national average. This indicates a relatively higher demand or concentration of these positions within the local job market.
Does the total workforce size impact job opportunities?
A total workforce of 360 for Chief Executives suggests a smaller, more specialized market. While the LQ indicates concentration, the absolute number suggests fewer overall openings compared to larger, more diverse economic regions.
How does the Cost of Living Index affect the salary's value?
With a Cost of Living Index of 100, the $188,490 salary has the same purchasing power as the national average. This means that while the nominal salary is lower than the national average, the cost of goods and services is also average, making it a financially stable region.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 360 employees in the Northwest Minnesota nonmetropolitan area area with a job density of 1.874 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 Northwest Minnesota nonmetropolitan area