Average Financial Managers Salary in Birmingham, AL
Financial Managers in Birmingham, AL, can expect an average annual salary of $169,970. This figure is slightly below the national average of $184,480, a common occurrence in markets where local economic factors and industry concentration influence compensation structures. While the nominal salary may differ, the cost of living in Birmingham remains aligned with the national benchmark, offering a balanced perspective on earning potential.
Executive Summary
- Average Salary: $169,970 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $254,955.
- Outlook: With a local workforce of 2,370 Financial Managers, Birmingham presents a stable, albeit not exceptionally concentrated, job market for this profession. The Location Quotient of 0.86 suggests that the presence of Financial Managers is slightly less than the national average relative to the overall workforce. This indicates a moderate demand and a potentially less saturated environment for skilled professionals seeking opportunities.
Salary Overview
The average Financial Managers in Birmingham, AL earns-7.9%below the national average.
$81.7
$3,269
$14,164
Financial Managers Salary Trends (2020-2024)
While specific historical data for Birmingham's Financial Manager salaries over the past four years is not provided, it is reasonable to assume a general upward trend mirroring national economic growth and increasing demand for financial expertise. Salary increases are typically driven by inflation, evolving industry needs, and the continuous pursuit of experienced professionals, suggesting a positive trajectory for compensation in this role.
Financial Managers Salary Distribution in Birmingham, AL
The salary range for Financial Managers in Birmingham, AL, naturally escalates with experience. Entry-level positions typically command salaries at the lower percentiles, while seasoned professionals with extensive experience and specialized skills can achieve earnings in the upper percentiles. These percentile gaps are crucial indicators of career progression, reflecting the value placed on accumulated knowledge and leadership capabilities within the financial sector.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $97,770 | $47 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $127,478 | $61.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $151,750 | $73 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $212,463 | $102.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $254,955 | $122.6 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$169,970
Gross Pay
Real Wage (Purchasing Power)
$169,970
Adjusted for COL (100)
The average annual salary of $169,970 in Birmingham, AL, is precisely aligned with the national average cost of living, indicated by an index of 100. This means that the purchasing power of a Financial Manager's salary in Birmingham is equivalent to that of their counterparts in a typical U.S. city. Consequently, the nominal salary offers a realistic standard of living without the significant financial adjustments often associated with higher or lower cost-of-living areas.
Job Market Context
2,370
Total Jobs
4.57
Per 1K Jobs
0.86
Location Quotient
Birmingham, AL has 0.86x 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 0.86 for Financial Managers in Birmingham, AL, signifies that the concentration of these professionals is slightly below the national average. This suggests that while the profession is present and valued, the market is not oversaturated. For job seekers, this could translate to a competitive but accessible landscape, where opportunities exist without the intense competition found in areas with a higher concentration of talent.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Tuscaloosa, AL Financial Managers Salary | $141,550↓ 17% | 47 mi |
| Northeast Alabama nonmetropolitan area Financial Managers Salary | $137,250↓ 19% | 50 mi |
| Southeast Alabama nonmetropolitan area Financial Managers Salary | $138,830↓ 18% | 50 mi |
| Northwest Alabama nonmetropolitan area Financial Managers Salary | $118,330↓ 30% | 50 mi |
| Southwest Alabama nonmetropolitan area Financial Managers Salary | $114,680↓ 33% | 50 mi |
Comparing salaries near Birmingham, AL
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Birmingham, AL?
The median annual salary for a Financial Managers in Birmingham, AL is $169,970. This typically ranges from $97,770 for entry-level positions to $254,955 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Birmingham, AL is 7.9% lower than the national median of $184,480.
Is Birmingham, AL a lucrative place for Financial Managers?
Yes, with caveats.Birmingham, AL offers a competitive average salary of $169,970 for Financial Managers, which aligns perfectly with the national average cost of living. While the salary is slightly below the national average for the role, the stable cost of living ensures strong purchasing power.
Is Birmingham, AL a good place to live for Financial Managers?
The Cost of Living Index in Birmingham, AL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Birmingham, AL?
Some top paying nearby cities include Tuscaloosa, AL ($141,550) and Northeast Alabama nonmetropolitan area.
How does Birmingham's Financial Manager salary compare to the national average?
The average annual salary for Financial Managers in Birmingham, AL, is $169,970, which is approximately 7.8% lower than the national average of $184,480.
What is the cost of living in Birmingham, AL for Financial Managers?
The cost of living in Birmingham, AL, is at the national average, with an index of 100. This means that the purchasing power of a Financial Manager's salary in Birmingham is comparable to the national average.
How concentrated is the Financial Manager job market in Birmingham, AL?
The job market for Financial Managers in Birmingham, AL, is slightly less concentrated than the national average, with a Location Quotient of 0.86. This suggests a moderate level of demand and opportunity.
What is the total number of Financial Managers in Birmingham, AL?
There are approximately 2,370 Financial Managers employed in the Birmingham, AL area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 2,370 employees in the Birmingham, AL area with a job density of 4.57 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 Birmingham, AL