Average Financial Managers Salary in Capital/Northern New York nonmetropolitan area
Financial Managers in the Capital/Northern New York nonmetropolitan area earn an average annual salary of $149,360. This figure is notably lower than the national average of $184,480, reflecting regional economic factors and a smaller concentration of high-paying financial sector roles. The specific economic landscape and demand within this nonmetropolitan region directly influence compensation levels for these critical finance professionals.
Executive Summary
- Average Salary: $149,360 per year.
- Growth Trend: Salaries have shifted 8.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $224,040.
- Outlook: The job market for Financial Managers in the Capital/Northern New York nonmetropolitan area appears to be stable, albeit with a lower concentration of roles compared to national averages, as indicated by a Location Quotient of 0.41. With a total local workforce of 310 Financial Managers, the demand is present but not exceptionally high, suggesting a steady but not rapidly expanding job market for professionals in this field within this specific region.
Salary Overview
The average Financial Managers in Capital/Northern New York nonmetropolitan area earns-19.0%below the national average.
$71.8
$2,872
$12,447
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that salaries for Financial Managers across the United States, including nonmetropolitan areas like Capital/Northern New York, have experienced a gradual upward trend over the past four years. This growth is typically driven by inflation, increasing complexity in financial regulations, and a sustained need for skilled financial oversight across various industries.
Financial Managers Salary Distribution in Capital/Northern New York nonmetropolitan area
The salary range for Financial Managers typically widens significantly with experience. Entry-level positions often start at the lower end of the pay scale, while seasoned professionals with extensive experience, specialized certifications, and proven leadership skills can command salaries well above the average. The percentile gaps in earnings clearly signify the career progression and increased earning potential associated with advancing through senior financial management roles.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $69,150 | $33.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $112,020 | $53.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $125,430 | $60.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $186,700 | $89.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $224,040 | $107.7 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$149,360
Gross Pay
Real Wage (Purchasing Power)
$149,360
Adjusted for COL (100)
The nominal average salary of $149,360 in the Capital/Northern New York nonmetropolitan area aligns perfectly with the national average cost of living index of 100. This means that while the salary is lower than the national average, the purchasing power of that income is equivalent to the national average, making the effective financial standing comparable despite the lower nominal wage.
Job Market Context
310
Total Jobs
2.202
Per 1K Jobs
0.41
Location Quotient
At 0.41x, Capital/Northern New York nonmetropolitan area has a notably lower concentration of Financial Managers jobs than the national average. Opportunities in this area are relatively scarce for this profession.
With a Location Quotient of 0.41, the Capital/Northern New York nonmetropolitan area has a significantly lower concentration of Financial Managers compared to the national average. This suggests that the job market is less saturated, and while opportunities may be fewer, the demand from local businesses for these specialized skills is present, indicating a potentially less competitive but more niche employment landscape.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Binghamton, NY Financial Managers Salary | $168,700↑ 13% | 49 mi |
| Kingston, NY Financial Managers Salary | $177,200↑ 19% | 51 mi |
| Scranton--Wilkes-Barre, PA Financial Managers Salary | $136,520↓ 9% | 64 mi |
| Utica-Rome, NY Financial Managers Salary | $162,270↑ 9% | 66 mi |
| Albany-Schenectady-Troy, NY Financial Managers Salary | $167,180↑ 12% | 68 mi |
Comparing salaries near Capital/Northern New York nonmetropolitan area
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Capital/Northern New York nonmetropolitan area?
The median annual salary for a Financial Managers in Capital/Northern New York nonmetropolitan area is $149,360. This typically ranges from $69,150 for entry-level positions to $224,040 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Capital/Northern New York nonmetropolitan area is 19.0% lower than the national median of $184,480.
Is Capital/Northern New York nonmetropolitan area a lucrative place for Financial Managers?
No, not compared to national averages.While the average salary is substantial at $149,360, it falls below the national average of $184,480. However, the cost of living is also at the national average, making the effective purchasing power comparable.
Is Capital/Northern New York nonmetropolitan area a good place to live for Financial Managers?
The Cost of Living Index in Capital/Northern New York nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Capital/Northern New York nonmetropolitan area?
Some top paying nearby cities include Binghamton, NY ($168,700) and Kingston, NY.
How does the number of Financial Managers in this area compare nationally?
The area has 2.202 Financial Managers per 1,000 workers, which is less than half the national concentration, as indicated by the Location Quotient of 0.41.
What is the total number of Financial Managers in this region?
There are approximately 310 Financial Managers employed within the Capital/Northern New York nonmetropolitan area.
Does the cost of living affect the perceived value of a Financial Manager's salary here?
No, the cost of living index is exactly 100, meaning it matches the national average. Therefore, the $149,360 salary has the same purchasing power as the national average salary.
Is it difficult to find a Financial Manager job in this area?
Given the lower Location Quotient, the market is less concentrated, suggesting fewer openings but potentially less competition for those seeking roles.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 310 employees in the Capital/Northern New York nonmetropolitan area area with a job density of 2.202 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 Capital/Northern New York nonmetropolitan area