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.

Employment

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.

Wages

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.

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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).

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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

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.

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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%.

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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 43.5 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.

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Race & Ethnicity

Most Common Race or Ethnicity of Business & financial operations occupations
  1. White (Non-Hispanic)
  2. Black (Non-Hispanic)
  3. 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.

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Age by Sex

43.5
AVERAGE MALE AGE
± 0.174
43
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.

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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 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.

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