Average Financial Managers Salary in Altoona, PA
Financial Managers in Altoona, PA, earn an average annual salary of $121,340. This figure is notably lower than the national average of $184,480, reflecting regional economic factors and the specific demand within the Altoona market. Local industry composition and the overall economic landscape significantly influence compensation levels for these critical finance professionals.
Executive Summary
- Average Salary: $121,340 per year.
- Growth Trend: Salaries have shifted 2.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $188,330.
- Outlook: The Financial Manager job market in Altoona, PA, is characterized by a local workforce of 230 professionals. With a Location Quotient of 0.75, the concentration of Financial Managers is slightly below the national average, suggesting a stable but not exceptionally high demand. The presence of nearly 4 Financial Manager jobs per 1,000 workers indicates a consistent need for these roles within the local economy.
Salary Overview
The average Financial Managers in Altoona, PA earns-34.2%below the national average.
$58.3
$2,333
$10,112
Financial Managers Salary Trends (2020-2024)
While specific historical data for Altoona's Financial Manager salaries isn't provided, it's reasonable to assume a general upward trend mirroring national patterns over the past four years. Economic growth, inflation, and increasing complexity in financial management likely contribute to salary increases, even in smaller markets. Professionals can anticipate that their earning potential has likely seen modest but steady growth.
Financial Managers Salary Distribution in Altoona, PA
Experience plays a crucial role in determining a Financial Manager's salary. Entry-level positions typically command salaries at the lower end of the spectrum, while senior roles with extensive experience and specialized skills can earn significantly more. The percentile gaps in salary distribution highlight clear career progression pathways, rewarding seasoned professionals with higher compensation.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $64,720 | $31.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $91,005 | $43.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $106,290 | $51.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $151,675 | $72.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $188,330 | $90.5 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$121,340
Gross Pay
Real Wage (Purchasing Power)
$121,340
Adjusted for COL (100)
The average annual salary of $121,340 for Financial Managers in Altoona, PA, aligns perfectly with the local Cost of Living Index of 100. This means that the nominal salary has a purchasing power equivalent to the national average, offering a balanced financial standing for professionals residing in the area. Your earnings in Altoona will provide a standard of living comparable to the national median.
Job Market Context
230
Total Jobs
3.957
Per 1K Jobs
0.75
Location Quotient
Altoona, PA has 0.75x the national average concentration of Financial Managers jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
A Location Quotient of 0.75 indicates that Altoona, PA, has a slightly lower concentration of Financial Managers compared to the national average. This suggests that while the profession is present and necessary, the market may not be oversaturated. This could translate to a moderately competitive job market, where skilled professionals can find opportunities without facing extreme competition.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Johnstown, PA Financial Managers Salary | $116,170↓ 4% | 30 mi |
| State College, PA Financial Managers Salary | $161,030↑ 33% | 35 mi |
| Chambersburg, PA Financial Managers Salary | $129,320↑ 7% | 56 mi |
| Hagerstown-Martinsburg, MD-WV Financial Managers Salary | $136,240↑ 12% | 70 mi |
| Gettysburg, PA Financial Managers Salary | $130,550↑ 8% | 77 mi |
Comparing salaries near Altoona, PA
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Altoona, PA?
The median annual salary for a Financial Managers in Altoona, PA is $121,340. This typically ranges from $64,720 for entry-level positions to $188,330 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Altoona, PA is 34.2% lower than the national median of $184,480.
Is Altoona, PA a lucrative place for Financial Managers?
No, not compared to the national average.While the average salary of $121,340 is substantial, it falls significantly below the national average of $184,480. However, the cost of living being at the national average means the salary's purchasing power is on par with the national median.
Is Altoona, PA a good place to live for Financial Managers?
The Cost of Living Index in Altoona, PA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Altoona, PA?
Some top paying nearby cities include Johnstown, PA ($116,170) and State College, PA.
How does the Altoona Financial Manager salary compare to the national average?
The average salary for Financial Managers in Altoona, PA, is $121,340, which is considerably lower than the national average of $184,480.
What is the Cost of Living in Altoona, PA?
Altoona, PA, has a Cost of Living Index of 100, which is exactly the national average. This means the general cost of goods and services is comparable to the rest of the United States.
Is there high demand for Financial Managers in Altoona, PA?
With a Location Quotient of 0.75 and 3.957 jobs per 1,000 workers, the demand is present but slightly below the national concentration, indicating a stable but not exceptionally high demand.
How many Financial Managers work in Altoona, PA?
There are approximately 230 Financial Managers employed within the Altoona, PA, local workforce.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 230 employees in the Altoona, PA area with a job density of 3.957 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 Managers • Data source: BLS OEWS 2024 •Jobs in Altoona, PA