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Average Financial Managers Salary in Bangor, ME

Financial Managers in Bangor, Maine, earn an average annual salary of $149,400. This figure is notably below the national average of $184,480, suggesting that local market dynamics, such as industry concentration and demand, play a significant role in compensation levels within this specific region.

Executive Summary

  • Average Salary: $149,400 per year.
  • Growth Trend: Salaries have shifted 23.3% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $224,100.
  • Outlook: The Bangor, ME market for Financial Managers appears stable, with a total local workforce of 250 professionals. The Location Quotient of 0.67 indicates a slightly lower concentration of these roles compared to the national average, suggesting a moderate but not saturated demand for financial management expertise within the area.
2024 Market Data

Salary Overview

$149,400

The average Financial Managers in Bangor, ME earns-19.0%below the national average.

BreakdownBased on 40h/week
Hourly

$71.8

Weekly

$2,873

Monthly

$12,450

Financial Managers Salary Distribution in Bangor, ME

Career progression for Financial Managers in Bangor, ME, typically involves a significant salary increase with experience. Entry-level positions might start at a lower percentile, while seasoned professionals with extensive experience and specialized skills can command salaries well into the higher percentiles, reflecting their increased value and responsibility.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$84,910$40.8
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$112,050$53.9
ManagerOversees team, compliance, and project delivery.50% (Median)$131,260$63.1
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$186,750$89.8
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$224,100$107.7

Detailed Financial Managers Market Analysis

Relocation Context

Nominal Salary

$149,400

Gross Pay

Real Wage (Purchasing Power)

$149,400

Adjusted for COL (100)

With an average salary of $149,400 and a Cost of Living Index of 100, Financial Managers in Bangor, ME, find their nominal earnings directly align with the national average cost of living. This means that the purchasing power of their salary is comparable to that of a Financial Manager in a national average cost-of-living area.

Job Market Context

250

Total Jobs

3.548

Per 1K Jobs

0.67

Location Quotient

Below Average

Bangor, ME has 0.67x 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 0.67 for Financial Managers in Bangor, ME, signifies that the concentration of these roles is below the national average. This suggests that while opportunities exist, the market is less saturated than in many other regions, potentially offering a competitive edge for skilled professionals seeking employment.

Nearby Job Markets

Nearby Cities for Financial Managers

CitySalaryDist.
Southwest Maine nonmetropolitan area Financial Managers Salary$137,420↓ 8%31 mi
Northeast Maine nonmetropolitan area Financial Managers Salary$143,480↓ 4%31 mi
Lewiston-Auburn, ME Financial Managers Salary$151,200↑ 1%85 mi

Comparing salaries near Bangor, ME

Hiring Financial Managerss?

Frequently Asked Questions

How much does a Financial Managers make in Bangor, ME?

The median annual salary for a Financial Managers in Bangor, ME is $149,400. This typically ranges from $84,910 for entry-level positions to $224,100 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Bangor, ME is 19.0% lower than the national median of $184,480.

Is Bangor, ME a lucrative place for Financial Managers?

No, not exceptionally lucrative compared to national averages.While the average salary of $149,400 is substantial, it falls below the national average of $184,480. However, the cost of living being at the national average means the salary's purchasing power is standard.

Is Bangor, ME a good place to live for Financial Managers?

The Cost of Living Index in Bangor, ME is 100. While higher than average, this often correlates with higher wages.

Where are the highest paying cities near Bangor, ME?

Some top paying nearby cities include Southwest Maine nonmetropolitan area ($137,420) and Northeast Maine nonmetropolitan area.

How does the Bangor, ME Financial Manager salary compare to the national average?

The average salary for Financial Managers in Bangor, ME, is $149,400, which is less than the national average of $184,480.

What is the Cost of Living in Bangor, ME?

Bangor, ME, has a Cost of Living Index of 100, which is exactly the national average.

How concentrated are Financial Manager jobs in Bangor, ME?

The concentration of Financial Manager jobs in Bangor, ME, is indicated by a Location Quotient of 0.67, meaning it's less concentrated than the national average.

How many Financial Managers are there in Bangor, ME?

There are approximately 250 Financial Managers working in the Bangor, ME area.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 250 employees in the Bangor, ME area with a job density of 3.548 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Financial Managers • Data source: BLS OEWS 2024 •Jobs in Bangor, ME