Average Compliance Officers Salary in Northwest Minnesota nonmetropolitan area
Compliance Officers in the Northwest Minnesota nonmetropolitan area earn an average annual salary of $78,840. This figure is notably below the national average of $85,520, reflecting regional economic factors and potentially a different demand dynamic. The specific economic landscape and industry concentration within this nonmetropolitan region likely influence the compensation offered to these vital professionals.
Executive Summary
- Average Salary: $78,840 per year.
- Growth Trend: Salaries have shifted 3.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $107,240.
- Outlook: The job market for Compliance Officers in Northwest Minnesota appears stable, with a total local workforce of 230 individuals. The Location Quotient of 0.47 indicates a lower concentration of these roles compared to the national average, suggesting that while the absolute number of jobs is modest, the demand may be consistent within its niche. The presence of 1.207 jobs per 1,000 workers further solidifies a steady, albeit not booming, employment environment for this profession.
Salary Overview
The average Compliance Officers in Northwest Minnesota nonmetropolitan area earns-7.8%below the national average.
$37.9
$1,516
$6,570
Compliance Officers Salary Trends (2020-2024)
While specific historical data for this nonmetropolitan area is not provided, it is reasonable to assume that salaries for Compliance Officers in Northwest Minnesota have experienced growth over the past four years, mirroring national trends. Economic development and increasing regulatory complexity typically drive up demand and, consequently, compensation for compliance professionals, even in more rural settings.
Compliance Officers Salary Distribution in Northwest Minnesota nonmetropolitan area
Career progression for Compliance Officers typically involves a significant salary increase with experience. Entry-level positions might start closer to the lower end of the pay scale, while seasoned professionals with specialized knowledge and a proven track record can command salaries substantially higher than the average. The percentile gaps in salary data, though not detailed here, would signify this upward trajectory from junior to senior compliance roles.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $51,460 | $24.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $59,130 | $28.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $75,030 | $36.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $98,550 | $47.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $107,240 | $51.6 |
Detailed Compliance Officers Market Analysis
Relocation Context
Nominal Salary
$78,840
Gross Pay
Real Wage (Purchasing Power)
$78,840
Adjusted for COL (100)
The average annual salary of $78,840 in Northwest Minnesota aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of a Compliance Officer's salary in this region is equivalent to the national average. While the nominal salary is lower than the national average, the stable cost of living suggests that the take-home pay offers comparable financial stability to their counterparts in higher-cost metropolitan areas.
Job Market Context
230
Total Jobs
1.207
Per 1K Jobs
0.47
Location Quotient
At 0.47x, Northwest Minnesota nonmetropolitan area has a notably lower concentration of Compliance Officers jobs than the national average. Opportunities in this area are relatively scarce for this profession.
With a Location Quotient of 0.47, the job market for Compliance Officers in Northwest Minnesota is less concentrated than the national average. This suggests that while the absolute number of opportunities may be smaller, the competition might also be less intense compared to highly saturated metropolitan areas. Professionals in this region may find a more specialized or niche demand for their skills.
Nearby Job Markets
Nearby Cities for Compliance Officers
| City | Salary | Dist. |
|---|---|---|
| St. Cloud, MN Compliance Officers Salary | $75,450↓ 4% | 17 mi |
| Minneapolis-St. Paul-Bloomington, MN-WI Compliance Officers Salary | $94,470↑ 20% | 58 mi |
Comparing salaries near Northwest Minnesota nonmetropolitan area
Hiring Compliance Officerss?
Frequently Asked Questions
How much does a Compliance Officers make in Northwest Minnesota nonmetropolitan area?
The median annual salary for a Compliance Officers in Northwest Minnesota nonmetropolitan area is $78,840. This typically ranges from $51,460 for entry-level positions to $107,240 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 7.8% lower than the national median of $85,520.
Is Northwest Minnesota nonmetropolitan area a lucrative place for Compliance Officers?
No, it is not exceptionally lucrative compared to the national average.The average salary of $78,840 is below the national average of $85,520, although the cost of living is on par with the national average.
Is Northwest Minnesota nonmetropolitan area a good place to live for Compliance Officers?
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 ($75,450) and Minneapolis-St. Paul-Bloomington, MN-WI.
How does the cost of living affect the Compliance Officer salary in Northwest Minnesota?
The cost of living in Northwest Minnesota is at the national average (100), meaning the $78,840 salary offers purchasing power equivalent to the national average, despite being lower than the national salary benchmark.
What does the Location Quotient of 0.47 signify for Compliance Officers in this region?
A Location Quotient of 0.47 indicates that Compliance Officers are less concentrated in Northwest Minnesota compared to the national average, suggesting a potentially less competitive but more specialized job market.
How many Compliance Officer jobs are there per 1,000 workers in Northwest Minnesota?
There are approximately 1.207 Compliance Officer jobs per 1,000 workers in the Northwest Minnesota nonmetropolitan area.
Is the job market for Compliance Officers growing in Northwest Minnesota?
While specific growth data isn't provided, the stable workforce size and consistent job ratio suggest a steady, rather than rapidly expanding, market for Compliance Officers in this region.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 230 employees in the Northwest Minnesota nonmetropolitan area area with a job density of 1.207 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Compliance Officers • Data source: BLS OEWS 2024 •Jobs in Northwest Minnesota nonmetropolitan area