Average Financial Managers Salary in Central Indiana nonmetropolitan area
Financial Managers in Central Indiana's nonmetropolitan areas can expect an average annual salary of $137,860. This figure is notably below the national average of $184,480, reflecting regional economic factors and a smaller concentration of specialized financial roles. The lower average salary is often a consequence of the specific industry mix and demand within nonmetropolitan economies compared to larger urban centers.
Executive Summary
- Average Salary: $137,860 per year.
- Growth Trend: Salaries have shifted 28.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $209,690.
- Outlook: The Financial Manager job market in Central Indiana's nonmetropolitan areas is characterized by a modest workforce of 340 professionals. With a Location Quotient of 0.4, the concentration of these roles is significantly lower than the national average, suggesting a less saturated but potentially less robust demand. The presence of 2.131 jobs per 1,000 workers indicates a steady, albeit not overwhelming, need for financial expertise in the region.
Salary Overview
The average Financial Managers in Central Indiana nonmetropolitan area earns-25.3%below the national average.
$66.3
$2,651
$11,488
Financial Managers Salary Trends (2020-2024)
While specific historical data for this precise nonmetropolitan region is not detailed, it is reasonable to assume that salaries for Financial Managers in Central Indiana have experienced gradual growth over the past four years, mirroring national trends. Economic development and evolving business needs typically drive incremental increases in compensation for specialized roles like Financial Managers, even in less urbanized areas.
Financial Managers Salary Distribution in Central Indiana nonmetropolitan area
The salary progression for Financial Managers in Central Indiana typically scales with experience. Entry-level positions will command lower salaries, while senior Financial Managers with extensive experience and proven track records can expect significantly higher compensation. The percentile gaps in salary distribution highlight clear career progression pathways, rewarding increased responsibility and expertise within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $71,950 | $34.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $103,395 | $49.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $126,330 | $60.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $172,325 | $82.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $209,690 | $100.8 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$137,860
Gross Pay
Real Wage (Purchasing Power)
$137,860
Adjusted for COL (100)
The average annual salary of $137,860 in Central Indiana's nonmetropolitan areas aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of a Financial Manager's salary in this region is equivalent to the national average, offering a stable financial standing without the premium costs often associated with metropolitan living.
Job Market Context
340
Total Jobs
2.131
Per 1K Jobs
0.4
Location Quotient
At 0.40x, Central Indiana 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.
A Location Quotient of 0.4 for Financial Managers in Central Indiana's nonmetropolitan areas indicates a lower concentration of these professionals compared to the national average. This suggests that the job market may be less competitive, potentially offering more opportunities for skilled individuals to establish themselves. However, it also implies a smaller overall demand pool relative to the national landscape.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Indianapolis-Carmel-Greenwood, IN Financial Managers Salary | $157,380↑ 14% | 8 mi |
| Kokomo, IN Financial Managers Salary | $153,750↑ 12% | 43 mi |
| Columbus, IN Financial Managers Salary | $150,120↑ 9% | 48 mi |
| Bloomington, IN Financial Managers Salary | $145,130↑ 5% | 49 mi |
| Lafayette-West Lafayette, IN Financial Managers Salary | $137,170↓ 1% | 50 mi |
Comparing salaries near Central Indiana nonmetropolitan area
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Central Indiana nonmetropolitan area?
The median annual salary for a Financial Managers in Central Indiana nonmetropolitan area is $137,860. This typically ranges from $71,950 for entry-level positions to $209,690 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Central Indiana nonmetropolitan area is 25.3% lower than the national median of $184,480.
Is Central Indiana nonmetropolitan area a lucrative place for Financial Managers?
No, but it offers good value.While the average salary of $137,860 is below the national average, the Cost of Living Index of 100 means your earnings hold equivalent purchasing power to the national average.
Is Central Indiana nonmetropolitan area a good place to live for Financial Managers?
The Cost of Living Index in Central Indiana nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Central Indiana nonmetropolitan area?
Some top paying nearby cities include Indianapolis-Carmel-Greenwood, IN ($157,380) and Kokomo, IN.
How does the number of Financial Managers in Central Indiana compare nationally?
With a total local workforce of 340 Financial Managers and a Location Quotient of 0.4, the concentration is significantly lower than the national average, indicating fewer professionals in this specific role within the region.
What is the job availability like for Financial Managers in this area?
There are approximately 2.131 Financial Manager jobs per 1,000 workers in Central Indiana's nonmetropolitan areas, suggesting a consistent but not exceptionally high demand for these professionals.
Does experience significantly impact a Financial Manager's salary in Central Indiana?
Yes, experience is a key driver of salary for Financial Managers. Senior roles with greater responsibility and expertise command higher compensation, with noticeable salary increases reflecting career progression.
Is the cost of living a factor for Financial Managers in Central Indiana?
The Cost of Living Index is 100, which is the national average. This means that the $137,860 salary provides purchasing power equivalent to the national average, making it a stable financial environment.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 340 employees in the Central Indiana nonmetropolitan area area with a job density of 2.131 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 Central Indiana nonmetropolitan area