Average Financial Examiners Salary in Albany-Schenectady-Troy, NY
Financial Examiners in Albany-Schenectady-Troy, NY, earn an average annual salary of $85,490. This figure is notably below the national average of $99,150. Local economic factors and the specific demand within the region likely contribute to this salary differential, influencing compensation levels for this specialized role.
Executive Summary
- Average Salary: $85,490 per year.
- Growth Trend: Salaries have shifted 17.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $124,100.
- Outlook: The Albany-Schenectady-Troy area supports a local workforce of 270 Financial Examiners. With a Location Quotient of 1.51, this indicates a concentration of these roles that is 51% higher than the national average, suggesting a robust local demand and a potentially stable job market for financial examination professionals.
Salary Overview
The average Financial Examiners in Albany-Schenectady-Troy, NY earns-13.8%below the national average.
$41.1
$1,644
$7,124
Financial Examiners Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that the field of financial examination has experienced steady growth over the past four years, driven by increasing regulatory complexity and the need for financial oversight. This trend likely translates to a gradual increase in average salaries for Financial Examiners in Albany-Schenectady-Troy, mirroring national patterns of professional development and compensation adjustments.
Financial Examiners Salary Distribution in Albany-Schenectady-Troy, NY
Career progression for Financial Examiners typically involves a significant salary increase with experience. Entry-level positions may start closer to the lower end of the pay scale, while senior examiners, with their accumulated expertise and responsibilities, can command salaries well above the average. The percentile gaps in salary distribution clearly signify the substantial career advancement opportunities available within this profession.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $54,610 | $26.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $64,118 | $30.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $79,090 | $38 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $106,863 | $51.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $124,100 | $59.7 |
Detailed Financial Examiners Market Analysis
Relocation Context
Nominal Salary
$85,490
Gross Pay
Real Wage (Purchasing Power)
$85,490
Adjusted for COL (100)
The average annual salary of $85,490 for Financial Examiners in Albany-Schenectady-Troy aligns precisely with the national average Cost of Living Index of 100. This means that the nominal salary offers purchasing power equivalent to the national average, suggesting that the local cost of living does not significantly inflate or deflate the real value of this income.
Job Market Context
270
Total Jobs
0.615
Per 1K Jobs
1.51
Location Quotient
Albany-Schenectady-Troy, NY has 1.5x the national concentration of Financial Examiners jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
A Location Quotient of 1.51 for Financial Examiners in Albany-Schenectady-Troy signifies a higher concentration of these professionals compared to the national average. This suggests that the job market in this region is more specialized and potentially more competitive, with employers seeking candidates with specific local expertise or a proven track record in the area.
Nearby Job Markets
Nearby Cities for Financial Examiners
| City | Salary | Dist. |
|---|---|---|
| Central East New York nonmetropolitan area Financial Examiners Salary | $76,990↓ 10% | 68 mi |
Comparing salaries near Albany-Schenectady-Troy, NY
Hiring Financial Examinerss?
Frequently Asked Questions
How much does a Financial Examiners make in Albany-Schenectady-Troy, NY?
The median annual salary for a Financial Examiners in Albany-Schenectady-Troy, NY is $85,490. This typically ranges from $54,610 for entry-level positions to $124,100 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Albany-Schenectady-Troy, NY is 13.8% lower than the national median of $99,150.
Is Albany-Schenectady-Troy, NY a lucrative place for Financial Examiners?
No, not when compared to the national average.While the average salary of $85,490 is substantial, it falls below the national average of $99,150. However, the cost of living being at the national average means the salary's purchasing power is standard, and the high concentration of roles suggests good local opportunity.
Is Albany-Schenectady-Troy, NY a good place to live for Financial Examiners?
The Cost of Living Index in Albany-Schenectady-Troy, NY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Albany-Schenectady-Troy, NY?
Some top paying nearby cities include Central East New York nonmetropolitan area ($76,990) and others.
How does the local workforce size affect job prospects for Financial Examiners in Albany?
A local workforce of 270 Financial Examiners indicates a dedicated professional community. While not a massive number, the high Location Quotient suggests these roles are more prevalent here than nationally, potentially leading to more specialized job openings.
What does a Location Quotient of 1.51 mean for Financial Examiners in Albany?
A Location Quotient of 1.51 means that Financial Examiners are 51% more concentrated in the Albany-Schenectady-Troy area than in the average U.S. location. This implies a stronger local demand and a more established professional network for this career.
How does the Cost of Living in Albany compare to the national average for Financial Examiners?
The Cost of Living Index in Albany-Schenectady-Troy is exactly 100, which is the national average. This means that the $85,490 salary has the same purchasing power as the national average salary, making it neither exceptionally high nor low in real terms.
Are there many job opportunities for Financial Examiners in Albany-Schenectady-Troy?
With 0.615 jobs per 1,000 workers and a Location Quotient of 1.51, there is a significant presence of Financial Examiner roles relative to the general workforce, indicating a healthy number of opportunities within this specific metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 270 employees in the Albany-Schenectady-Troy, NY area with a job density of 0.615 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Financial Examiners • Data source: BLS OEWS 2024 •Jobs in Albany-Schenectady-Troy, NY