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 2020.

The 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 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

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

Employment

Employment and salary information for the Business & financial operations occupations workforce. Business & financial operations occupations workforce in 2020 was 8,177,437 people, of which 54.6% were women and 45.4% were men. Business & financial operations occupations are paid most in Norwalk, Westport & Darien Towns PUMA, CT but are relatively concentrated in North Beach & Chinatown PUMA, CA.

Employment Over Time

Metric

Grouping

3,709,060

Male Workforce

± 46.7k

4,468,377

Female Workforce

± 51.1k

The Business & financial operations occupations workforce in 2020 was 8,177,437 people (54.6% women and 45.4% men). This implies an average annual growth of 25.8% between 2014 (6,499,348) and 2020 (8,177,437).

Employment by Location

Level

Metric

This map shows the states in the United States shaded by average wage for Business & financial operations occupations.

During 2020, the states that concentrated the best average annual wage were Connecticut ($110,920), New Jersey ($109,012), and New York ($105,383).

Yearly Wage Ranking

$83,994

AVERAGE WAGE

#5 in the ranking (2020)

$55,954

NATIONAL AVERAGE WAGE

For all occupations across the US

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

The graph shows the ranking of Business & financial operations occupations in relation to all Broad Occupation in 2020.

Wage Distribution

Gender

0.402

WAGE GINI

In 2020, Business & financial operations occupations had a wage GINI coefficient of 0.402, which is lower 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).

The graphic shows the distribution of average salaries by buckets for Business & financial operations occupations compared to the entire workforce in the country.

Industry

Information on the industries that employ Business & financial operations occupations and on wages 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 ($149,896).

Occupations by Industries

Metric

Value

8.18M

2020 Workforce

± 68,243

3.23%

1 YEAR GROWTH

± 1.15%

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 35.7%, followed by Accounting, tax preparation, bookkeeping & payroll services with 32.7% and Insurance carriers with 31.7%.

Diversity

Demographic information on Business & financial operations occupations in the US. The workforce of Business & financial operations occupations in 2020 was 8,177,437 people, with 54.6% woman, and 45.4% men. 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.

Gender and Age

Metric

The workforce of Business & financial operations occupations in 2020 was 8,177,437 people, with 54.6% woman, and 45.4% men.

The age ranges that concentrated the largest workforce were 30 to 34 years (1,067,084 people), 25 to 29 years (1,029,980 people), and 35 to 39 years (1,005,157 people). Among them they concentrated 37.9% of the total workforce.

Ethnicity

Gender

In 2020, 10.2% of Business & financial operations occupations workers were Hispanic and 89.8% non-Hispanic.

The treemap shows the distribution of Hispanic workers according to their origin, highlighting Mexican (74.7%), Puerto Rican (17.2)%, and Cuban (8.1)%

You can review this information by gender using the selectors above.

Races

In 2020, 75.2% of the Business & financial operations occupations workforce were White, of which 52.9% were women and 47.1% men. Other races that concentrated a significant number of workers were Black (9.91%) and Asian (8.2%).

Education & Skills

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 the most specialized major according to RCA in 2020 were Business.

Among the necessary skills for Business & financial operations occupations, Reading Comprehension stands, but the revealed comparative advantage (RCA) shows that Business & financial operations occupations need more than the average amount of Mathematics.

Majors

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

Type of Majors

Degree

The most common majors achieved by Business & financial operations occupations in 2020 (counting all academic degrees) were Business (2,613,894 people), Social Sciences (495,589 people), and Engineering (301,502 people).

You can review this information for different academic grades by modifying the option selected in the selector above.

Education Levels

Metric

The main educational levels achieved by the Business & financial operations occupations workers were Bachelors Degree (3,823,622 people), Graduate Degree (1,780,938 people), and Some college (1,195,600 people).

The graphic shows the Business & financial operations occupations workforce by gender and educational level.

Skills

Chart

Value

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, Active Listening, Critical Thinking.