Average Financial Managers Salary in Ann Arbor, MI
Financial Managers in Ann Arbor, Michigan, command an average annual salary of $162,830. This figure is notably below the national average of $184,480, suggesting localized market dynamics and potentially a different demand-supply equilibrium are at play. While the nominal salary is substantial, understanding its purchasing power within Ann Arbor is crucial.
Executive Summary
- Average Salary: $162,830 per year.
- Growth Trend: Salaries have shifted 20.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $244,245.
- Outlook: With a local workforce of 800 Financial Managers and a Location Quotient of 0.69, Ann Arbor presents a market that is less concentrated than the national average. This indicates a moderate demand for these professionals, with approximately 3.671 jobs available per 1,000 workers. The relatively lower concentration suggests that while opportunities exist, the market may not be saturated, offering a stable environment for skilled individuals.
Salary Overview
The average Financial Managers in Ann Arbor, MI earns-11.7%below the national average.
$78.3
$3,131
$13,569
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that the financial management sector, like many others, has experienced steady salary growth over the past four years. Factors such as inflation, increasing demand for sophisticated financial strategies, and the evolving economic landscape likely contribute to an upward trend in compensation for Financial Managers in Ann Arbor.
Financial Managers Salary Distribution in Ann Arbor, MI
Salary progression for Financial Managers in Ann Arbor is significantly influenced by experience and expertise. Entry-level positions typically start at the lower end of the pay scale, while seasoned professionals with extensive experience and specialized skills can command salaries well above the average. The percentile gaps in compensation clearly signify career progression, rewarding those who advance their knowledge and leadership capabilities.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $94,990 | $45.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $122,123 | $58.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $139,840 | $67.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $203,538 | $97.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $244,245 | $117.4 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$162,830
Gross Pay
Real Wage (Purchasing Power)
$162,830
Adjusted for COL (100)
The average annual salary of $162,830 in Ann Arbor aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of a Financial Manager's salary in Ann Arbor is equivalent to the national average. Therefore, the nominal salary translates directly into comparable living standards without the premium or discount often associated with higher or lower cost-of-living areas.
Job Market Context
800
Total Jobs
3.671
Per 1K Jobs
0.69
Location Quotient
Ann Arbor, MI has 0.69x 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.
Ann Arbor's Location Quotient of 0.69 indicates that the concentration of Financial Managers is below the national average. This suggests that the job market for these professionals is less competitive compared to national benchmarks. While not as densely populated with financial talent as other regions, this lower concentration can imply a steady demand relative to the available workforce, potentially offering good opportunities for qualified candidates.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Monroe, MI Financial Managers Salary | $156,880↓ 4% | 31 mi |
| Jackson, MI Financial Managers Salary | $143,790↓ 12% | 34 mi |
| Detroit-Warren-Dearborn, MI Financial Managers Salary | $161,410↓ 1% | 35 mi |
| Toledo, OH Financial Managers Salary | $139,910↓ 14% | 43 mi |
| Flint, MI Financial Managers Salary | $144,060↓ 12% | 52 mi |
Comparing salaries near Ann Arbor, MI
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Ann Arbor, MI?
The median annual salary for a Financial Managers in Ann Arbor, MI is $162,830. This typically ranges from $94,990 for entry-level positions to $244,245 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Ann Arbor, MI is 11.7% lower than the national median of $184,480.
Is Ann Arbor, MI a lucrative place for Financial Managers?
Yes, with caveats.While the average salary of $162,830 is below the national average, the Cost of Living Index being at 100 means your earnings have average purchasing power. The lower concentration suggests a less competitive market, potentially offering stable opportunities.
Is Ann Arbor, MI a good place to live for Financial Managers?
The Cost of Living Index in Ann Arbor, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Ann Arbor, MI?
Some top paying nearby cities include Monroe, MI ($156,880) and Jackson, MI.
How does Ann Arbor's Financial Manager salary compare to the national average?
The average salary for Financial Managers in Ann Arbor is $162,830, which is approximately 11.7% lower than the national average of $184,480.
What is the Cost of Living in Ann Arbor, MI?
Ann Arbor's Cost of Living Index is 100, which is exactly the national average. This means that the general cost of goods and services is comparable to the rest of the United States.
Is there high demand for Financial Managers in Ann Arbor?
The Location Quotient of 0.69 suggests that Financial Managers are less concentrated in Ann Arbor compared to the national average, indicating a moderate rather than exceptionally high demand relative to the national landscape.
What does a Location Quotient of 0.69 mean for Financial Managers in Ann Arbor?
A Location Quotient of 0.69 signifies that there are fewer Financial Managers per capita in Ann Arbor than the national average. This could translate to a less saturated job market and potentially more opportunities for skilled professionals.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 800 employees in the Ann Arbor, MI area with a job density of 3.671 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 Ann Arbor, MI