Average Financial Managers Salary in Bloomington, IN
Financial Managers in Bloomington, IN earn an average annual salary of $145,130. This figure is notably below the national average of $184,480, suggesting that local market dynamics and potentially a lower demand for highly specialized financial leadership roles contribute to this compensation difference. The specific economic landscape of Bloomington influences the pay scale for these critical positions.
Executive Summary
- Average Salary: $145,130 per year.
- Growth Trend: Salaries have shifted 34.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $216,900.
- Outlook: With a local workforce of 250 Financial Managers and a Location Quotient of 0.65, the job market in Bloomington indicates a concentration below the national average. This suggests that while there is a stable presence of financial management professionals, the demand might not be as robust as in larger metropolitan areas, implying a moderately competitive environment for new entrants.
Salary Overview
The average Financial Managers in Bloomington, IN earns-21.3%below the national average.
$69.8
$2,791
$12,094
Financial Managers Salary Trends (2020-2024)
While specific historical data for Bloomington is not provided, it is generally assumed that salaries for Financial Managers nationwide have experienced steady growth over the past four years, driven by inflation, increasing complexity in financial regulations, and a persistent need for skilled financial oversight across industries. This upward trend likely extends, albeit potentially at a different rate, to the Bloomington market.
Financial Managers Salary Distribution in Bloomington, IN
The salary trajectory for Financial Managers in Bloomington, like elsewhere, is significantly influenced by experience. Entry-level positions typically command lower salaries, while seasoned professionals with extensive experience in strategic financial planning, risk management, and corporate finance can expect compensation well into the upper percentiles. The widening gap between entry-level and senior roles reflects the increasing value and responsibility associated with advanced expertise.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $71,360 | $34.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $108,848 | $52.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $133,730 | $64.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $181,413 | $87.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $216,900 | $104.3 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$145,130
Gross Pay
Real Wage (Purchasing Power)
$145,130
Adjusted for COL (100)
The average annual salary of $145,130 in Bloomington, IN, aligns perfectly 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 Bloomington is equivalent to the national average, offering a stable financial standing relative to the cost of goods and services.
Job Market Context
250
Total Jobs
3.477
Per 1K Jobs
0.65
Location Quotient
Bloomington, IN has 0.65x 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 0.65 for Financial Managers in Bloomington signifies that the concentration of these professionals is 35% lower than the national average. This suggests that the job market is less saturated compared to national benchmarks, potentially offering opportunities for skilled individuals, though it also implies a potentially lower overall demand or fewer specialized roles available.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Columbus, IN Financial Managers Salary | $150,120↑ 3% | 33 mi |
| Indianapolis-Carmel-Greenwood, IN Financial Managers Salary | $157,380↑ 8% | 47 mi |
| Northern Indiana nonmetropolitan area Financial Managers Salary | $119,520↓ 18% | 49 mi |
| Southern Indiana nonmetropolitan area Financial Managers Salary | $123,280↓ 15% | 49 mi |
| Central Indiana nonmetropolitan area Financial Managers Salary | $137,860↓ 5% | 49 mi |
Comparing salaries near Bloomington, IN
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Bloomington, IN?
The median annual salary for a Financial Managers in Bloomington, IN is $145,130. This typically ranges from $71,360 for entry-level positions to $216,900 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Bloomington, IN is 21.3% lower than the national median of $184,480.
Is Bloomington, IN a lucrative place for Financial Managers?
No, not exceptionally lucrative compared to the national average.While the average salary of $145,130 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 standard.
Is Bloomington, IN a good place to live for Financial Managers?
The Cost of Living Index in Bloomington, IN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Bloomington, IN?
Some top paying nearby cities include Columbus, IN ($150,120) and Indianapolis-Carmel-Greenwood, IN.
How does Bloomington's Financial Manager salary compare to the national average?
The average salary in Bloomington, IN, is $145,130, which is approximately $39,350 less than the national average of $184,480.
What is the concentration of Financial Managers in Bloomington compared to the nation?
Bloomington has a Location Quotient of 0.65, meaning the concentration of Financial Managers is 35% lower than the national average.
How does the cost of living in Bloomington affect the salary?
Bloomington's cost of living index is 100, which is the national average. Therefore, the $145,130 salary offers purchasing power equivalent to the national average.
What does the job market look like for Financial Managers in Bloomington?
With a total local workforce of 250 and a below-average location quotient, the market is less concentrated than the national average, suggesting moderate competition and demand.
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 Bloomington, IN area with a job density of 3.477 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 Bloomington, IN