This paper develops a tractable oligopsony model based on the well-known \citepos{PerloffSalop1985} oligopoly model where workers' outside option is given the value of self-employment. This depends on financial frictions, task-specific skills and initial wealth. The equilibrium wage rises with the number of firms and it goes to the marginal product of labor as the number of firms goes to infinity, increases with financial development, individual wealth and task-specific skills. We use this result to study the impact of competition intensity, financial development, skills and personal wealth on labor supply, labor share, the elasticity of labor supply, welfare and income inequality.