In terms of bang for your buck, factoring in average salary and rent, would you have guessed Detroit is the third best city to live? While you may think of New York as the financial capital of the world, the rents are so exorbitant that it did not even make the top 10.
A career in “business” is broad enough that it can mean just about anything. Hundreds, if not thousands of jobs, can be classified as “business” related work ranging from being an accountant to a chief medical officer.
At Business Student.com, we’ve created an index of 127 “business” careers, where we track the average salaries and how they vary by location.While these jobs are by no means comprehensive of all jobs in business, they comprise a representative index of business careers and their salaries, that we call the “Business Jobs Index.”
So what are the highest and lowest paying jobs in our index? Which cities have highest paying business jobs and where you’ll still have money leftover after paying rent if you live there?
Across our business index, the highest paying job paid $187,000 on average in the United States (Medical Director). The lowest paying business job we track is Security Supervisor, which pays $31,000 per year. The average business job we track pays $75,000 per year.
Across the country, the highest paying business jobs are in Washington, DC, California, New York, and Massachusetts. The states with the lowest paying business jobs are Montana, Idaho, and North Dakota. We also analyzed 215 of the largest job markets in America to find the cities that have the highest business salaries; all five of the top cities with the highest paying business jobs are located in Silicon Valley, with Palo Alto, CA having the highest paying jobs of all.
Lastly, we found there were a number of cities like San Francisco, Miami and Los Angeles that have high paying business jobs, but most of your income will go to paying rent.
Before diving into the data, a brief note on the methodology of our Business Jobs Index. The index is comprised of 127 popular business jobs.
For each of these jobs, we track the average salary on Indeed.com by location.
Conclusion
There is a huge variety of business jobs out there with an equal variance in salaries. Not all jobs pay a lot, but some do, especially in California, New York, Massachusetts and Washington, DC.
However, cities that pay a lot in salaries also typically have very high cost of living. The city with the highest business salaries is Palo Alto, but it’s also a place with some of the highest property prices in the country. Additionally, some places like San Francisco and Los Angeles do have high salaries, but you don’t take home very much money after your rent.
Source: Business Student