Average Financial Managers Salary in Baltimore-Columbia-Towson, MD
Financial Managers in the Baltimore-Columbia-Towson, MD metropolitan area command an impressive average annual salary of $167,000. This figure, while slightly below the national average of $184,480, reflects a robust local economy and a significant concentration of finance-related industries. The specific pay scale in this region is influenced by the demand for skilled financial professionals and the overall economic health of the area.
Executive Summary
- Average Salary: $167,000 per year.
- Growth Trend: Salaries have shifted 16.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $250,500.
- Outlook: The Baltimore-Columbia-Towson area demonstrates a healthy demand for Financial Managers, evidenced by a substantial local workforce of 9,530 professionals. With a Location Quotient of 1.34, this region shows a higher concentration of these roles compared to the national average, indicating a specialized and active job market for finance experts.
Salary Overview
The average Financial Managers in Baltimore-Columbia-Towson, MD earns-9.5%below the national average.
$80.3
$3,212
$13,917
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Financial Managers in the Baltimore-Columbia-Towson area have experienced steady growth over the past four years, mirroring national trends. Economic expansion and increasing complexity in financial operations typically drive upward salary adjustments for experienced professionals in this field.
Financial Managers Salary Distribution in Baltimore-Columbia-Towson, MD
Salary progression for Financial Managers is strongly tied to experience and responsibility. Entry-level positions typically start at lower percentiles, while senior roles, such as Chief Financial Officers or Directors of Finance, command salaries in the upper percentiles. The widening gap between entry-level and senior compensation signifies clear career advancement opportunities within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $84,370 | $40.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $125,250 | $60.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $155,270 | $74.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $208,750 | $100.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $250,500 | $120.4 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$167,000
Gross Pay
Real Wage (Purchasing Power)
$167,000
Adjusted for COL (100)
The average annual salary of $167,000 in Baltimore-Columbia-Towson 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 this metropolitan area is equivalent to the national standard, offering a stable financial environment for residents.
Job Market Context
9,530
Total Jobs
7.106
Per 1K Jobs
1.34
Location Quotient
With a location quotient of 1.34, Baltimore-Columbia-Towson, MD has a slightly higher-than-average concentration of Financial Managers roles compared to the national norm.
A Location Quotient of 1.34 signifies that Financial Managers are more concentrated in the Baltimore-Columbia-Towson area than the national average. This suggests a competitive yet abundant job market, where employers actively seek specialized financial talent, and professionals have a good number of opportunities available.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Maryland nonmetropolitan area Financial Managers Salary | $127,200↓ 24% | 19 mi |
| Washington-Arlington-Alexandria, DC-VA-MD-WV Financial Managers Salary | $193,890↑ 16% | 35 mi |
| York-Hanover, PA Financial Managers Salary | $148,060↓ 11% | 47 mi |
| Gettysburg, PA Financial Managers Salary | $130,550↓ 22% | 50 mi |
| Lancaster, PA Financial Managers Salary | $144,010↓ 14% | 55 mi |
Comparing salaries near Baltimore-Columbia-Towson, MD
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Baltimore-Columbia-Towson, MD?
The median annual salary for a Financial Managers in Baltimore-Columbia-Towson, MD is $167,000. This typically ranges from $84,370 for entry-level positions to $250,500 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Baltimore-Columbia-Towson, MD is 9.5% lower than the national median of $184,480.
Is Baltimore-Columbia-Towson, MD a lucrative place for Financial Managers?
Yes, it is a lucrative place for Financial Managers.With an average salary of $167,000 and a cost of living matching the national average, professionals can maintain a strong purchasing power. The higher-than-average concentration of these roles also indicates robust local demand.
Is Baltimore-Columbia-Towson, MD a good place to live for Financial Managers?
The Cost of Living Index in Baltimore-Columbia-Towson, MD is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Baltimore-Columbia-Towson, MD?
Some top paying nearby cities include Maryland nonmetropolitan area ($127,200) and Washington-Arlington-Alexandria, DC-VA-MD-WV.
How does the Baltimore-Columbia-Towson salary compare to the national average?
The average salary for Financial Managers in Baltimore-Columbia-Towson is $167,000, which is slightly lower than the national average of $184,480.
What is the Cost of Living in Baltimore-Columbia-Towson, MD?
The Cost of Living Index in Baltimore-Columbia-Towson is 100, which is exactly the national average, indicating that expenses are comparable to the rest of the country.
How concentrated are Financial Manager jobs in this area?
The concentration of Financial Manager jobs, measured by the Location Quotient, is 1.34, meaning there are about 34% more Financial Managers employed here relative to the national average.
What does the number of jobs per 1,000 workers indicate?
With 7.106 jobs per 1,000 workers, this metric suggests a significant presence and demand for Financial Managers within the local labor market.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 9,530 employees in the Baltimore-Columbia-Towson, MD area with a job density of 7.106 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 Baltimore-Columbia-Towson, MD