Business & financial operations occupations

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Total Workforce

7.34M

Average Age

43.1

Estimated Job Growth

9.59%

10-year projection

Average Salary

$77,506

Average Male Salary

$94,309

Average Female Salary

$64,403

About

Employment

Diversity

Education

Skills

Growth Projections

About

Business & financial operations occupations are most often employed by the Insurance carriers & related activities industry. The average yearly wage for Business & financial operations occupations was $77,506 in 2016. The top 3 most similar occupations to Business & financial operations occupations by wage are Healthcare practitioners & technical occupations, Life, physical, & social science occupations, and Architecture & engineering occupations.

Business & financial operations occupations are part of the Management, business, & financial occupations, along with Management occupations and Business & financial operations occupations

The top 3 locations that employ the most Business & financial operations occupations are Lake View & Lincoln Park PUMA, IL, District of Columbia (Central) PUMA, DC, and Upper East Side PUMA, NY. The top 3 locations with a relatively high concentration of Business & financial operations occupations are North Beach & Chinatown PUMA, CA, Arlington County (North) PUMA, VA, and Murray Hill, Gramercy & Stuyvesant Town PUMA, NY.

Photo by paul bica

Management, business, & financial occupationsManagement, business, science, & arts occupations

Employment

Information on the businesses and industries that employ Business & financial operations occupations and on wages and locations for those in the field. Insurance carriers & related activities is the industry that employs the most Business & financial operations occupations, both by share and by number, though the highest paid industry for Business & financial operations occupations, by average wage, is Securities, commodities, funds, trusts & other financial investments. Business & financial operations occupations are paid most in Westchester County (Southeast) PUMA, NY but are relatively concentrated in North Beach & Chinatown PUMA, CA.

Wages

Yearly Wage

$77,506

AVERAGE SALARY

± $692

In 2017, Business & financial operations occupations earned an average of $77,506, $25,441 more than than the average national salary of $52,065.

Healthcare practitioners & technical occupations make somewhat more than Business & financial operations occupations while Life, physical, & social science occupations make somewhat less. This chart shows the various occupations closest to Business & financial operations occupations as measured by average annual salary in the US.

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Wage Distribution

0.406

WAGE GINI

In 2017, Business & financial operations occupations had a wage GINI coefficient of 0.406, which is lower than than the national average of 0.479. In other words, wages are distributed more evenly for Business & financial operations occupations (shown in red) than for the overall labor force (shown in gray).

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Wage by Location

HIGHEST PAYING PUMAS

  1. Westchester County (Southeast) PUMA, NY

  2. Westchester County (Northeast) PUMA, NY

  3. Fairfield, New Canaan, Wilton, Weston & Easton Towns PUMA, CT

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

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Spatial Concentration

PUMAs with a Relatively High Concentration of Business & financial operations occupations

  1. North Beach & Chinatown PUMA, CA

  2. Arlington County (North) PUMA, VA

  3. District of Columbia (Central) PUMA, DC

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

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Industries

Most Common

The most common industries employing Business & financial operations occupations, by number of employees, are Insurance carriers & related activities, Management, scientific & technical consulting services, and Accounting, tax preparation, bookkeeping & payroll services.

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Highest Paying

The highest paying industries for Business & financial operations occupations, by average wage, are Securities, commodities, funds, trusts & other financial investments, Metal ore mining, and Pharmaceutical & medicine manufacturing.

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Industries by Share

7.34M

2017 Workforce

± 64,839

3.85%

1 YEAR GROWTH

± 1.21%

The number of people employed as Business & financial operations occupations has been growing at a rate of 3.85%, from 7,067,430 people in 2016 to 7,339,420 people in 2017.

This graphic shows the share of Business & financial operations occupations employed by various industries. Insurance carriers & related activities employs the largest share of Business & financial operations occupations at  8.46%, followed by Management, scientific & technical consulting services with 7.45% and Accounting, tax preparation, bookkeeping & payroll services with 7.26%.

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Diversity

Demographic information on Business & financial operations occupations in the US. The average age of male Business & financial operations occupations in the workforce is 43.3 and of female Business & financial operations occupations is 42.9, and the most common race/ethnicity for Business & financial operations occupations is White.

Gender Composition

3.22M

MALE WORKFORCE

± 43,544

4.12M

FEMALE WORKFORCE

± 49,156

56.2% of Business & financial operations occupations are Female, making them the more common gender in the occupation. This chart shows the gender breakdown of Business & financial operations occupations.

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Race & Ethnicity

Most Common Race or Ethnicity of Business & financial operations occupations

  1. White

  2. Black

  3. Asian

76.9% of Business & financial operations occupations are White, making that the most common race or ethnicity in the occupation. Representing 9.91% of Business & financial operations occupations, Black is the second most common race or ethnicity in this occupation. This chart shows the racial and ethnic breakdown of Business & financial operations occupations.

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Age by Gender

43.3

AVERAGE MALE AGE

± 0.189

42.9

AVERAGE FEMALE AGE

± 0.154

The median age of Business & financial operations occupations is 43.1, and Male employees are generally 0.392 years older than than their Female counterparts.

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Education

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

Majors

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

MOST COMMON MAJORS

  1. Business

  2. Social Sciences

  3. Communications

MOST SPECIALIZED MAJORS

  1. Business

  2. Social Sciences

  3. Communications

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Skills

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

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Growth Projections

Projections on wages and job growth for Business & financial operations occupations from the Bureau of Labor Statistics. The ten-year national workforce is projected to grow 7.4%, but Business & financial operations occupations are expected to see a growth of 9.59% over the same period. This occupation is expected to grow higher than the national average.

Job Growth

9.59%

ESTIMATED GROWTH

7.4%

NATIONAL AVERAGE

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

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