Average Financial Managers Salary in Canton-Massillon, OH
Financial Managers in Canton-Massillon, OH, can expect an average annual salary of $134,820. This figure is notably below the national average of $184,480, suggesting that local market dynamics and potentially a lower demand contribute to this compensation level. The specific economic landscape of the Canton-Massillon area plays a significant role in shaping the remuneration for these critical finance professionals.
Executive Summary
- Average Salary: $134,820 per year.
- Growth Trend: Salaries have shifted 10.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $216,790.
- Outlook: The Canton-Massillon area supports a local workforce of 600 Financial Managers, with 3.634 jobs per 1,000 workers. The Location Quotient of 0.68 indicates that this profession is less concentrated here compared to the national average. While the absolute number of professionals is substantial, the lower concentration suggests a potentially less robust or saturated job market, offering opportunities for those seeking roles in a less competitive environment.
Salary Overview
The average Financial Managers in Canton-Massillon, OH earns-26.9%below the national average.
$64.8
$2,593
$11,235
Financial Managers Salary Trends (2020-2024)
While specific historical data for Canton-Massillon is not provided, it is generally assumed that the financial management sector nationwide has experienced steady growth over the past four years. This trend typically translates to incremental salary increases, driven by inflation, evolving industry demands, and the increasing complexity of financial operations. Professionals in Canton-Massillon likely have seen modest, if not significant, salary adjustments mirroring broader economic trends.
Financial Managers Salary Distribution in Canton-Massillon, OH
The salary trajectory for Financial Managers in Canton-Massillon, OH, escalates significantly with experience. Entry-level positions typically start at the lower end of the pay scale, while seasoned professionals with extensive expertise and proven track records can command salaries well above the average. The percentile gaps between junior and senior roles highlight the substantial career progression and earning potential available within this field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $61,620 | $29.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $101,115 | $48.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $120,570 | $58 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $168,525 | $81 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $216,790 | $104.2 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$134,820
Gross Pay
Real Wage (Purchasing Power)
$134,820
Adjusted for COL (100)
The average nominal salary of $134,820 for Financial Managers in Canton-Massillon, OH, aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of the local salary is equivalent to the national average, offering a stable financial standing for professionals. While the salary is lower than the national average for the role, the cost of living parity ensures that the take-home pay maintains its value relative to other regions.
Job Market Context
600
Total Jobs
3.634
Per 1K Jobs
0.68
Location Quotient
Canton-Massillon, OH has 0.68x 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.
With a Location Quotient of 0.68, the Canton-Massillon, OH, market for Financial Managers is less concentrated than the national average. This suggests that the demand for these professionals may be relatively lower or that the supply is more abundant compared to other regions. While not indicating a scarcity, it implies a market that might be less competitive for job seekers, potentially offering more opportunities for those with specialized skills.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Akron, OH Financial Managers Salary | $154,100↑ 14% | 20 mi |
| Youngstown-Warren, OH Financial Managers Salary | $121,470↓ 10% | 43 mi |
| Cleveland, OH Financial Managers Salary | $160,060↑ 19% | 49 mi |
| Weirton-Steubenville, WV-OH Financial Managers Salary | $112,280↓ 17% | 50 mi |
| Mansfield, OH Financial Managers Salary | $118,740↓ 12% | 61 mi |
Comparing salaries near Canton-Massillon, OH
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Canton-Massillon, OH?
The median annual salary for a Financial Managers in Canton-Massillon, OH is $134,820. This typically ranges from $61,620 for entry-level positions to $216,790 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Canton-Massillon, OH is 26.9% lower than the national median of $184,480.
Is Canton-Massillon, OH a lucrative place for Financial Managers?
No, not when compared to the national average salary.While the average salary of $134,820 is substantial, it falls significantly short of the national average of $184,480. However, the cost of living being at the national average means the salary's purchasing power is maintained.
Is Canton-Massillon, OH a good place to live for Financial Managers?
The Cost of Living Index in Canton-Massillon, OH is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Canton-Massillon, OH?
Some top paying nearby cities include Akron, OH ($154,100) and Youngstown-Warren, OH.
How does the local workforce size affect Financial Manager jobs in Canton-Massillon, OH?
The local workforce of 600 Financial Managers indicates a stable presence of the profession. With 3.634 jobs per 1,000 workers, the role is present but not overwhelmingly dominant, suggesting a balanced job market.
What is the significance of the Location Quotient for Financial Managers in Canton-Massillon, OH?
A Location Quotient of 0.68 signifies that Financial Managers are less concentrated in Canton-Massillon compared to the national average. This implies fewer job openings relative to the national density, but potentially less competition for available roles.
How does the Cost of Living Index impact the Financial Manager salary in Canton-Massillon, OH?
The Cost of Living Index of 100 means that Canton-Massillon's cost of living is exactly at the national average. Therefore, the $134,820 salary offers purchasing power equivalent to the national average, making it relatively stable despite being below the national salary benchmark.
What are the career progression opportunities for Financial Managers in Canton-Massillon, OH?
Career progression is typically marked by increased responsibility and compensation. As Financial Managers gain experience, their salaries can rise substantially, moving from entry-level to senior positions, with significant percentile gaps reflecting this growth.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 600 employees in the Canton-Massillon, OH area with a job density of 3.634 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 Canton-Massillon, OH