Management, business, & financial occupations

Minor Occupation Group

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2020 Workforce

23.4M

Average Age

44.6

Average Salary

$94,769

Average Male Salary

$111,671

Average Female Salary

$75,232

About

Management, business, & financial occupations are most often employed by the Construction industry. The average yearly wage for Management, business, & financial occupations was $94,769 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.

Management, business, & financial occupations are part of the Management, business, science, & arts occupations, along with Management, business, & financial occupations, Computer, engineering, & science occupations, Education, legal, community service, arts, & media occupations, and Healthcare practitioners & technical occupations.

The top 3 locations that employ the most Management, business, & financial occupations are Upper East Side PUMA, NY, 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 Management, business, & financial occupations are Battery Park City, Greenwich Village & Soho PUMA, NY, Murray Hill, Gramercy & Stuyvesant Town PUMA, NY, and Chelsea, Clinton & Midtown Business District PUMA, NY.

Photo by paul bica

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 Westchester County (Southeast) PUMA, NY but are relatively concentrated in Battery Park City, Greenwich Village & Soho PUMA, NY.

Yearly Wage

$94,769

AVERAGE SALARY

± $474

In 2020, Management, business, & financial occupations earned an average of $94,769, $38,815 more than than the average national salary of $55,954.

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.

Wage Distribution

0.42

WAGE GINI

In 2015, Management, business, & financial occupations had a wage GINI coefficient of 0.42, which is lower than than the national average of 0.478. 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).

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 Management, business, & financial occupations.

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.

Most Common

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

Highest Paying

The highest paying industries for Management, business, & financial occupations, by average wage, are Internet publishing, broadcasting & web search portals, Securities, commodities, funds, trusts & other financial investments, and Pharmaceutical & medicine manufacturing.

Industries by Share

23.4M

2020 Workforce

± 109,013

3.08%

1 YEAR GROWTH

± 0.644%

The number of people employed as Management, business, & financial occupations has been growing at a rate of 3.08%, from 22,713,325 people in 2019 to 23,413,817 people in 2020.

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 6.37%, followed by Restaurants & Food Services with 4.91% and Banking & related activities with 4.38%.

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).

Composition by Sex

12.6M

MALE WORKFORCE

± 83,221

10.9M

FEMALE WORKFORCE

± 77,890

53.6% of Management, business, & financial occupations are Male, making them the more common sex in the occupation. This chart shows the sex breakdown of Management, business, & financial occupations.

Race & Ethnicity

Most Common Race or Ethnicity of Management, business, & financial occupations

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

71.2% of Management, business, & financial occupations are White (Non-Hispanic), making that the most common race or ethnicity in the occupation. Representing 8.35% 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.

Age by Sex

45.4

AVERAGE MALE AGE

± 0.0902

43.7

AVERAGE FEMALE AGE

± 0.0942

The median age of Management, business, & financial occupations is 44.6, and Male employees are generally 1.67 years older than than their Female counterparts.

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 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 Management, business, & financial occupations from the Bureau of Labor Statistics. Management, business, & financial occupations need many skills, but most especially Active Listening. The revealed comparative advantage (RCA) shows that Management, business, & financial occupations need more than the average amount of Management of Financial Resources, Management of Material Resources, and Mathematics.