Average Financial Managers Salary in Boston-Cambridge-Newton, MA-NH
Financial Managers in the Boston-Cambridge-Newton, MA-NH metropolitan area earn an impressive average annual salary of $209,520, significantly exceeding the national average of $184,480. This premium compensation is driven by the region's robust financial sector, high concentration of corporate headquarters, and demand for specialized financial expertise.
Executive Summary
- Average Salary: $209,520 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $314,280.
- Outlook: The job market for Financial Managers in Boston-Cambridge-Newton, MA-NH appears robust, indicated by a substantial local workforce of 22,830 professionals. The Location Quotient of 1.59 suggests a higher concentration of these roles compared to the national average, pointing towards strong and sustained demand within the region.
Salary Overview
The average Financial Managers in Boston-Cambridge-Newton, MA-NH earns+13.6%above the national average.
$100.7
$4,029
$17,460
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Financial Managers in a dynamic economic hub like Boston-Cambridge-Newton, MA-NH have experienced consistent growth over the past four years, mirroring national trends of increasing compensation for experienced finance professionals.
Financial Managers Salary Distribution in Boston-Cambridge-Newton, MA-NH
Career progression for Financial Managers typically involves a significant salary increase with experience. Entry-level positions may start at a lower percentile, while seasoned professionals with extensive experience and specialized skills can command salaries in the upper percentiles, reflecting a clear path for advancement and increased earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $108,380 | $52.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $157,140 | $75.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $188,490 | $90.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $261,900 | $125.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $314,280 | $151.1 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$209,520
Gross Pay
Real Wage (Purchasing Power)
$209,520
Adjusted for COL (100)
With an average annual salary of $209,520 and a Cost of Living Index matching the national average of 100, Financial Managers in Boston-Cambridge-Newton, MA-NH can expect their nominal earnings to translate directly to purchasing power. This indicates that the higher salaries are not merely compensating for increased living expenses but represent genuine higher earning potential.
Job Market Context
22,830
Total Jobs
8.432
Per 1K Jobs
1.59
Location Quotient
Boston-Cambridge-Newton, MA-NH has 1.6x the national concentration of Financial Managers jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
A Location Quotient of 1.59 signifies that Financial Manager roles are 59% more concentrated in Boston-Cambridge-Newton, MA-NH than the national average. This indicates a competitive yet abundant job market, where demand is notably higher than in many other regions, offering ample opportunities for skilled professionals.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Massachusetts nonmetropolitan area Financial Managers Salary | $148,630↓ 29% | 24 mi |
| Worcester, MA Financial Managers Salary | $175,840↓ 16% | 37 mi |
| Providence-Warwick, RI-MA Financial Managers Salary | $170,800↓ 18% | 38 mi |
| Manchester-Nashua, NH Financial Managers Salary | $159,450↓ 24% | 50 mi |
| Barnstable Town, MA Financial Managers Salary | $159,030↓ 24% | 59 mi |
Comparing salaries near Boston-Cambridge-Newton, MA-NH
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Boston-Cambridge-Newton, MA-NH?
The median annual salary for a Financial Managers in Boston-Cambridge-Newton, MA-NH is $209,520. This typically ranges from $108,380 for entry-level positions to $314,280 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Boston-Cambridge-Newton, MA-NH is 13.6% higher than the national median of $184,480.
Is Boston-Cambridge-Newton, MA-NH a lucrative place for Financial Managers?
Yes, it is a highly lucrative area for Financial Managers.The average salary of $209,520 is substantially higher than the national average, and the Cost of Living Index is at the national average, indicating strong earning potential.
Is Boston-Cambridge-Newton, MA-NH a good place to live for Financial Managers?
The Cost of Living Index in Boston-Cambridge-Newton, MA-NH is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Boston-Cambridge-Newton, MA-NH?
Some top paying nearby cities include Massachusetts nonmetropolitan area ($148,630) and Worcester, MA.
What is the average salary for a Financial Manager in Boston-Cambridge-Newton, MA-NH?
The average annual salary for a Financial Manager in Boston-Cambridge-Newton, MA-NH is $209,520.
How does the Boston-Cambridge-Newton, MA-NH salary compare to the national average?
The average salary in Boston-Cambridge-Newton, MA-NH is $209,520, which is $25,030 higher than the national average of $184,480.
What does the Location Quotient of 1.59 mean for Financial Managers in this area?
A Location Quotient of 1.59 means that Financial Manager roles are 59% more concentrated in Boston-Cambridge-Newton, MA-NH compared to the national average, indicating higher demand and opportunity.
How does the Cost of Living in Boston-Cambridge-Newton, MA-NH affect the Financial Manager salary?
The Cost of Living Index is 100, which is the national average. This means the higher salary of $209,520 offers strong purchasing power without being significantly eroded by living expenses.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 22,830 employees in the Boston-Cambridge-Newton, MA-NH area with a job density of 8.432 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 Boston-Cambridge-Newton, MA-NH