Business & financial operations occupations

Broad Occupation

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2020 Workforce

8.18M

Average Age

43.2

Average Salary

$83,994

Average Male Salary

$100,963

Average Female Salary

$69,910

About

Business & financial operations occupations are most often employed by the Management, scientific & technical consulting services industry. The average yearly wage for Business & financial operations occupations was $83,994 in 2016. The top 3 most similar occupations to Business & financial operations occupations by wage are Healthcare practitioners & technical occupations, Architecture & engineering occupations, and Life, physical, & social science 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 Near North Side, Loop & Near South Side PUMA, IL. 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 Battery Park City, Greenwich Village & Soho PUMA, NY.

Photo by paul bica

Information on the businesses and industries that employ Business & financial operations occupations and on wages and locations for those in the field. Management, scientific & technical consulting services 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 Battery Park City, Greenwich Village & Soho PUMA, NY but are relatively concentrated in North Beach & Chinatown PUMA, CA.

Yearly Wage

$83,994

AVERAGE SALARY

± $702

In 2020, Business & financial operations occupations earned an average of $83,994, $28,040 more than than the average national salary of $55,954.

Architecture & engineering occupations make somewhat more than Business & financial operations occupations while Healthcare practitioners & technical 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.

Wage Distribution

0.404

WAGE GINI

In 2015, Business & financial operations occupations had a wage GINI coefficient of 0.404, which is lower than than the national average of 0.478. 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).

Wage by Location

HIGHEST PAYING PUMAS

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

Spatial Concentration

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

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

Most Common

The most common industries employing Business & financial operations occupations, by number of employees, are Management, scientific & technical consulting services, Accounting, tax preparation, bookkeeping & payroll services, Insurance carriers, Securities, commodities, funds, trusts & other financial investments, Banking & related activities, Nondepository credit & related activities, Construction, Computer Systems Design, Colleges, universities & professional schools, including junior colleges, Employment services, and General medical and surgical hospitals, and specialty (except psychiatric and substance abuse) hospitals.

Highest Paying

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

Industries by Share

8.18M

2020 Workforce

± 68,243

3.23%

1 YEAR GROWTH

± 1.15%

The number of people employed as Business & financial operations occupations has been growing at a rate of 3.23%, from 7,921,546 people in 2019 to 8,177,437 people in 2020.

This graphic shows the share of Business & financial operations occupations employed by various industries. Management, scientific & technical consulting services employs the largest share of Business & financial operations occupations at 7.32%, followed by Accounting, tax preparation, bookkeeping & payroll services with 6.71% and Insurance carriers with 6.5%.

Diversity

Demographic information on Business & financial operations occupations in the US. The average age of male Business & financial operations occupations in the workforce is 43.5 and of female Business & financial operations occupations is 43, and the most common race/ethnicity for Business & financial operations occupations is White (Non-Hispanic).

Composition by Sex

3.71M

MALE WORKFORCE

± 46,688

4.47M

FEMALE WORKFORCE

± 51,110

54.6% of Business & financial operations occupations are Female, making them the more common sex in the occupation. This chart shows the sex breakdown of Business & financial operations occupations.

Race & Ethnicity

Most Common Race or Ethnicity of Business & financial operations occupations

White (Non-Hispanic)
Black (Non-Hispanic)
Asian (Non-Hispanic)

69% of Business & financial operations occupations are White (Non-Hispanic), making that the most common race or ethnicity in the occupation. Representing 9.66% of Business & financial operations occupations, Black (Non-Hispanic) is the second most common race or ethnicity in this occupation. This chart shows the racial and ethnic breakdown of Business & financial operations occupations.

Age by Sex

43.5

AVERAGE MALE AGE

± 0.174

AVERAGE FEMALE AGE

± 0.148

The median age of Business & financial operations occupations is 43.2, and Male employees are generally 0.471 years older than than their Female counterparts.

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

MOST SPECIALIZED MAJORS

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 Reading Comprehension. The revealed comparative advantage (RCA) shows that Business & financial operations occupations need more than the average amount of Mathematics, Management of Financial Resources, and Programming.