Management, business, & financial occupations

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Total Workforce
23.2M
Average Age
44.6
Average Salary
$91,611
Average Male Salary
$108,292
Average Female Salary
$72,281

About

Management, business, & financial occupations are most often employed by the Construction industry. The average yearly wage for Management, business, & financial occupations was $91,611 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 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 Management, business, & financial occupations are Murray Hill, Gramercy & Stuyvesant Town PUMA, NY, Walnut Creek (West), Lafayette, Orinda Cities & Moraga Town PUMA, CA, and Battery Park City, Greenwich Village & Soho 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 Internet publishing, broadcasting & web search portals. Management, business, & financial occupations are paid most in N/A but are relatively concentrated in Murray Hill, Gramercy & Stuyvesant Town PUMA, NY.

Wages

Yearly Wage

$91,611
AVERAGE SALARY
± $465

In 2018, Management, business, & financial occupations earned an average of $91,611, $37,723 more than than the average national salary of $53,888.

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

N/A
WAGE GINI

In N/A, Management, business, & financial occupations had a wage GINI coefficient of N/A, which is approximately the same as 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

23.2M
2018 Workforce
± 108,611
1.99%
1 YEAR GROWTH
± 0.654%

The number of people employed as Management, business, & financial occupations has been growing at a rate of 1.99%, from 22,704,711 people in 2017 to 23,157,069 people in 2018.

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  6.2%, followed by Restaurants & Food Services with 4.98% and Banking & related activities with 4.45%.

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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 (Non-Hispanic).

Gender Composition

12.4M
MALE WORKFORCE
± 82,883
10.7M
FEMALE WORKFORCE
± 77,472

53.7% 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 (Non-Hispanic)
  2. Black (Non-Hispanic)
  3. White (Hispanic)

71.5% of Management, business, & financial occupations are White (Non-Hispanic), making that the most common race or ethnicity in the occupation. Representing 8.31% of Management, business, & financial occupations, Black (Non-Hispanic) 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
± 0.0907
43.7
AVERAGE FEMALE AGE
± 0.0949

The median age of Management, business, & financial occupations is 44.6, and Male employees are generally 1.7 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 degree-majorss. However, we can filter the data based on highest degree-majors 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 Reading Comprehension and Critical Thinking. The revealed comparative advantage (RCA) shows that Management, business, & financial occupations need more than the average amount of Management of Financial Resources, Negotiation, and Persuasion.

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