Average Financial Managers Salary in Cedar Rapids, IA
Financial Managers in Cedar Rapids, IA, command an average annual salary of $139,940. This figure is notably below the national average of $184,480, reflecting regional economic factors and the specific demand within the local market. While lower than the national benchmark, this salary is influenced by the unique economic landscape and industry concentration in Cedar Rapids.
Executive Summary
- Average Salary: $139,940 per year.
- Growth Trend: Salaries have shifted 14.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $212,350.
- Outlook: The financial management sector in Cedar Rapids, IA, demonstrates a stable presence with a local workforce of 820 professionals. The Location Quotient of 1.11 indicates a slightly higher concentration of these roles compared to the national average, suggesting a steady, albeit not overwhelmingly robust, demand for financial expertise within the region's economic framework.
Salary Overview
The average Financial Managers in Cedar Rapids, IA earns-24.1%below the national average.
$67.3
$2,691
$11,662
Financial Managers Salary Trends (2020-2024)
While specific historical data for Cedar Rapids is not provided, it is generally observed that salaries for Financial Managers have experienced consistent growth over the past four years, driven by inflation, increased demand for financial oversight, and evolving industry complexities. This upward trend is likely reflected in the current compensation landscape for professionals in Cedar Rapids, mirroring broader national patterns.
Financial Managers Salary Distribution in Cedar Rapids, IA
Compensation for Financial Managers in Cedar Rapids, IA, naturally escalates with experience. Entry-level positions typically start at the lower end of the pay scale, while seasoned professionals with extensive expertise and leadership responsibilities can command significantly higher salaries, often reaching into the upper percentiles. The widening gap between entry-level and senior roles signifies clear opportunities for career advancement and increased earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $75,970 | $36.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $104,955 | $50.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $130,020 | $62.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $174,925 | $84.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $212,350 | $102.1 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$139,940
Gross Pay
Real Wage (Purchasing Power)
$139,940
Adjusted for COL (100)
The nominal salary of $139,940 in Cedar Rapids, IA, is directly offset by a Cost of Living Index of 100, which is precisely the national average. This means that the purchasing power of a Financial Manager's salary in Cedar Rapids is equivalent to the national standard, offering a stable financial environment where the earned income aligns with the general cost of goods and services.
Job Market Context
820
Total Jobs
5.91
Per 1K Jobs
1.11
Location Quotient
With a location quotient of 1.11, Cedar Rapids, IA has a slightly higher-than-average concentration of Financial Managers roles compared to the national norm.
With a Location Quotient of 1.11, Cedar Rapids, IA, shows a slightly higher concentration of Financial Managers than the national average. This suggests that while the market is not saturated, there is a discernible and slightly elevated demand for these specialized financial roles compared to the typical U.S. metropolitan area, indicating a competitive yet accessible job market for qualified professionals.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Iowa City, IA Financial Managers Salary | $136,550↓ 2% | 23 mi |
| Waterloo-Cedar Falls, IA Financial Managers Salary | $127,810↓ 9% | 50 mi |
| Dubuque, IA Financial Managers Salary | $129,570↓ 7% | 62 mi |
| Davenport-Moline-Rock Island, IA-IL Financial Managers Salary | $143,960↑ 3% | 62 mi |
| Southeast Iowa nonmetropolitan area Financial Managers Salary | $122,440↓ 13% | 79 mi |
Comparing salaries near Cedar Rapids, IA
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Cedar Rapids, IA?
The median annual salary for a Financial Managers in Cedar Rapids, IA is $139,940. This typically ranges from $75,970 for entry-level positions to $212,350 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Cedar Rapids, IA is 24.1% lower than the national median of $184,480.
Is Cedar Rapids, IA a lucrative place for Financial Managers?
Moderately. While the salary is below the national average, the cost of living is also at the national average.Financial Managers in Cedar Rapids earn $139,940, which is less than the national average. However, the local cost of living index is 100, matching the national average, making the salary's purchasing power comparable.
Is Cedar Rapids, IA a good place to live for Financial Managers?
The Cost of Living Index in Cedar Rapids, IA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Cedar Rapids, IA?
Some top paying nearby cities include Iowa City, IA ($136,550) and Waterloo-Cedar Falls, IA.
How does the Cedar Rapids Financial Manager salary compare to the national average?
The average annual salary for Financial Managers in Cedar Rapids, IA, is $139,940, which is approximately 24% lower than the national average of $184,480.
What is the concentration of Financial Managers in Cedar Rapids?
Cedar Rapids has a Location Quotient of 1.11 for Financial Managers, indicating a slightly higher concentration of these professionals compared to the national average.
How does the cost of living in Cedar Rapids affect salary perception?
The cost of living in Cedar Rapids is exactly at the national average (100), meaning the $139,940 salary offers purchasing power equivalent to the national median.
What is the total number of Financial Managers in Cedar Rapids?
There are approximately 820 Financial Managers employed in Cedar Rapids, IA.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 820 employees in the Cedar Rapids, IA area with a job density of 5.91 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 Cedar Rapids, IA