Management, business, & financial occupations

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Total Workforce

22.7M

Average Age

44.6

Estimated Job Growth

8.47%

10-year projection

Average Salary

$89,263

Average Male Salary

$105,366

Average Female Salary

$70,523

About

Management, business, & financial occupations are most often employed by the Construction industry. The average yearly wage for Management, business, & financial occupations was $89,263 in 2016. The top 3 most similar occupations to Management, business, & financial occupations by wage are Computer, engineering, & science occupations, Healthcare practitioners & technical occupations, and Education, legal, community service, arts, & media occupations.

The top 3 locations that employ the most Management, business, & financial occupations are Upper East Side PUMA, NY, District of Columbia (Central) PUMA, DC, and Murray Hill, Gramercy & Stuyvesant Town PUMA, NY. The top 3 locations with a relatively high concentration of Management, business, & financial occupations are Arlington County (North) PUMA, VA, Battery Park City, Greenwich Village & Soho PUMA, NY, and Murray Hill, Gramercy & Stuyvesant Town PUMA, NY.

Employment

Information on the businesses and industries that employ Management, business, & financial occupations and on wages and locations for those in the field. Construction is the industry that employs the most Management, business, & financial occupations, both by share and by number, though the highest paid industry for Management, business, & financial occupations, by average wage, is Securities, commodities, funds, trusts & other financial investments. Management, business, & financial occupations are paid most in Westchester County (Southeast) PUMA, NY but are relatively concentrated in Arlington County (North) PUMA, VA.

Wages

Yearly Wage

$89,263

AVERAGE SALARY

± $453

In 2017, Management, business, & financial occupations earned an average of $89,263, $37,198 more than than the average national salary of $52,065.

Management, business, & financial occupations are the highest paid occupation in the US followed by Computer, engineering, & science occupations. This chart shows the various occupations closest to Management, business, & financial occupations as measured by average annual salary in the US.

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Wage Distribution

0.423

WAGE GINI

In 2017, Management, business, & financial occupations had a wage GINI coefficient of 0.423, which is lower than than the national average of 0.479. In other words, wages are distributed more evenly for Management, business, & financial occupations (shown in red) than for the overall labor force (shown in gray).

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Wage by Location

This map shows the Public Use Microdata Areas (PUMAs) in the United States shaded by average annual wage for Management, business, & financial occupations.

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Spatial Concentration

PUMAs with a Relatively High Concentration of Management, business, & financial occupations

This map displays which Public Use Microdata Areas (PUMAs) in the United States have a relatively high population of Management, business, & financial occupations.

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Industries

Most Common

The most common industries employing Management, business, & financial occupations, by number of employees, are Construction, Restaurants & Food Services, and Banking & related activities.

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Industries by Share

22.7M

2017 Workforce

± 107,620

4%

1 YEAR GROWTH

± 0.652%

The number of people employed as Management, business, & financial occupations has been growing at a rate of 4%, from 21,830,741 people in 2016 to 22,704,711 people in 2017.

This graphic shows the share of Management, business, & financial occupations employed by various industries. Construction employs the largest share of Management, business, & financial occupations at  5.96%, followed by Restaurants & Food Services with 5.09% and Banking & related activities with 4.44%.

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Diversity

Demographic information on Management, business, & financial occupations in the US. The average age of male Management, business, & financial occupations in the workforce is 45.4 and of female Management, business, & financial occupations is 43.7, and the most common race/ethnicity for Management, business, & financial occupations is White.

Gender Composition

12.2M

MALE WORKFORCE

± 82,172

10.5M

FEMALE WORKFORCE

± 76,653

53.8% of Management, business, & financial occupations are Male, making them the more common gender in the occupation. This chart shows the gender breakdown of Management, business, & financial occupations.

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Race & Ethnicity

Most Common Race or Ethnicity of Management, business, & financial occupations

  1. White

  2. Black

  3. Asian

79.5% of Management, business, & financial occupations are White, making that the most common race or ethnicity in the occupation. Representing 8.46% of Management, business, & financial occupations, Black is the second most common race or ethnicity in this occupation. This chart shows the racial and ethnic breakdown of Management, business, & financial occupations.

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Age by Gender

45.4

AVERAGE MALE AGE

± 0.0912

43.7

AVERAGE FEMALE AGE

± 0.0954

The median age of Management, business, & financial occupations is 44.6, and Male employees are generally 1.68 years older than than their Female counterparts.

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Education

Data on higher education choices for Management, business, & financial occupations from The Department of Education and Census Bureau. The most common major for Management, business, & financial occupations is Business but a relatively high number of Management, business, & financial occupations hold a major in Construction.

Majors

ACS PUMS data only shows the major for bachelor's degrees. However, we can filter the data based on highest degree obtained.

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Skills

Data on the critical and distinctive skills necessary for Management, business, & financial occupations from the Bureau of Labor Statistics. Management, business, & financial occupations need many skills, but most especially Active Listening. The revealed comparative advantage (RCA) shows that Management, business, & financial occupations need more than the average amount of Management of Financial Resources, Management of Material Resources, and Management of Personnel Resources.

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Growth Projections

Projections on wages and job growth for Management, business, & financial occupations from the Bureau of Labor Statistics. The ten-year national workforce is projected to grow 7.4%, but Management, business, & financial occupations are expected to see a growth of 8.47% over the same period. This occupation is expected to grow higher than the national average.

Job Growth

8.47%

ESTIMATED GROWTH

7.4%

NATIONAL AVERAGE

This line chart shows the 10-year projected employment growth (from 2016 to 2026) for Management, business, & financial occupations. This profession is expected to grow faster than 7.4%, the average rate of national job growth.

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