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

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.

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

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

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.

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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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