Management, business, & financial occupations

Minor Occupation Group

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2023 Workforce
26.2M
Average Age
44.6
Average Salary
$111,505
Average Male Salary
$130,643
Average Female Salary
$90,059

About

Management, business, & financial occupations are most often employed by the uninformed industry. The average yearly wage for Management, business, & financial occupations was $111,505 in 2023.

Photo by paul bica
Management, business, science, & arts occupations

Employment

Employment and salary information for the Management, business, & financial occupations workforce. Management, business, & financial occupations workforce in 2023 was 26,230,658 people, of which 47.2% were women and 52.8% were men. Management, business, & financial occupations are paid most in NYC-Manhattan Community Districts 1 & 2--Financial District & Greenwich Village PUMA, NY but are relatively concentrated in NYC-Manhattan Community District 4--Chelsea & Hell's Kitchen PUMA, NY.

Employment Over Time

Metric
Grouping
13,861,426
Male Workforce
± 87.2k
12,369,232
Female Workforce
± 82.8k

The Management, business, & financial occupations workforce in 2023 was 26,230,658 people (47.2% women and 52.8% men). This implies an average annual growth of 33.5% between 2014 (19,649,963) and 2023 (26,230,658).

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Employment by Location

Level
Metric

This map shows the states in the United States shaded by average wage for Management, business, & financial occupations.

During 2023, the states that concentrated the best average annual wage were Connecticut ($144,826), District of Columbia ($141,194), and New Jersey ($140,000).

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Yearly Wage Ranking

$111,505
AVERAGE WAGE
#1 in the ranking (2023)
$67,727
NATIONAL AVERAGE WAGE
For all occupations across the US

In 2023, Management, business, & financial occupations earned an average of $111,505, $43,778 more than the average national salary of $67,727

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

Gender
0.417
WAGE GINI

In 2023, Management, business, & financial occupations had a wage GINI coefficient of 0.417, which is lower than the national average of 0.476. 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).

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

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Industry

Information on the industries that employ Management, business, & financial occupations and on wages for those in the field. uninformed 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 Securities, commodities, funds, trusts & other financial investments ($191,947).

Occupations by Industries

Metric
Value
26.2M
2023 Workforce
± 114,489
3.82%
1 YEAR GROWTH
± 0.601%

This graphic shows the share of Management, business, & financial occupations employed by various industries. uninformed employs the largest share of Management, business, & financial occupations at 40.4%, followed by Construction with 26.6% and Restaurants & Food Services with 17.2%.

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Diversity

Demographic information on Management, business, & financial occupations in the US. The workforce of Management, business, & financial occupations in 2023 was 26,230,658 people, with 47.2% woman, and 52.8% men. The average age of male Management, business, & financial occupations in the workforce is 45.5 and of female Management, business, & financial occupations is 43.7, and the most common race/ethnicity for Management, business, & financial occupations is White.

Gender and Age

Metric

The workforce of Management, business, & financial occupations in 2023 was 26,230,658 people, with 47.2% woman, and 52.8% men.

The age ranges that concentrated the largest workforce were 35 to 39 years (3,361,018 people), 40 to 44 years (3,304,629  people), and 50 to 54 years (3,170,214 people). Among them they concentrated 37.5% of the total workforce.

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Ethnicity

Gender

In 2023, 12.5% of Management, business, & financial occupations workers were Hispanic and 87.5% non-Hispanic.

The treemap shows the distribution of Hispanic workers according to their origin, highlighting Mexican (49.7%), Puerto Rican (14.1)%, and Cuban (5.54)%

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Races

In 2023, 71.5% of the Management, business, & financial occupations workforce were White, of which 45.2% were women and 54.8% men. Other races that concentrated a significant number of workers were Black (8.92%) and Two or More Races (8.26%).

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Education & Skills

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 the most specialized major according to RCA in 2023 were Construction.

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

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 Management, business, & financial occupations in 2023 (counting all academic degrees) were Business (5,931,280 people), Social Sciences (1,419,112 people), and Engineering (1,298,910 people).

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Education Levels

Metric

The main educational levels achieved by the Management, business, & financial occupations workers were Bachelors Degree (10,527,987 people), Graduate Degree (5,890,862 people), and Some college (4,207,232 people).

The graphic shows the Management, business, & financial occupations workforce by gender and educational level.

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Skills

Chart
Value

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, Active Listening, Speaking.

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