Average Financial Managers Salary in Central Kentucky nonmetropolitan area
Financial Managers in the Central Kentucky nonmetropolitan area earn an average annual salary of $109,010. This figure is notably lower than the national average of $184,480, reflecting the distinct economic landscape and demand drivers present in this specific region compared to broader national trends.
Executive Summary
- Average Salary: $109,010 per year.
- Growth Trend: Salaries have shifted 27.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $164,610.
- Outlook: With a local workforce of 470 Financial Managers, the concentration (Location Quotient) of 0.52 suggests this role is less prevalent in Central Kentucky than the national average. While the absolute number of professionals is modest, the presence of nearly 3 jobs per 1,000 workers indicates a stable, albeit specialized, demand within the local economy.
Salary Overview
The average Financial Managers in Central Kentucky nonmetropolitan area earns-40.9%below the national average.
$52.4
$2,096
$9,084
Financial Managers Salary Trends (2020-2024)
While specific historical data for Central Kentucky's Financial Manager salaries isn't provided, it's reasonable to assume a general upward trend in compensation over the past four years, mirroring national patterns. Economic growth, inflation, and increasing demand for financial expertise typically contribute to salary increases for skilled professionals in this field.
Financial Managers Salary Distribution in Central Kentucky nonmetropolitan area
Salary progression for Financial Managers in Central Kentucky, as elsewhere, is strongly tied to experience. Entry-level positions typically start at the lower end of the pay scale, while seasoned professionals with extensive experience and specialized skills command significantly higher salaries. The percentile gaps in compensation clearly signify the career advancement opportunities available.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $65,780 | $31.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $81,758 | $39.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $98,520 | $47.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $136,263 | $65.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $164,610 | $79.1 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$109,010
Gross Pay
Real Wage (Purchasing Power)
$109,010
Adjusted for COL (100)
The average annual salary of $109,010 in Central Kentucky aligns perfectly with the national average Cost of Living Index of 100. This means that, on average, the purchasing power of a Financial Manager's salary in this region is equivalent to that of their national counterparts, offering a stable financial standing relative to expenses.
Job Market Context
470
Total Jobs
2.735
Per 1K Jobs
0.52
Location Quotient
Central Kentucky nonmetropolitan area has 0.52x 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.
A Location Quotient of 0.52 indicates that Financial Managers are less concentrated in the Central Kentucky nonmetropolitan area compared to the national average. This suggests a less saturated job market, potentially offering more opportunities for skilled professionals to find roles, though the overall demand may be more niche.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Lexington-Fayette, KY Financial Managers Salary | $146,680↑ 35% | 28 mi |
| Elizabethtown, KY Financial Managers Salary | $134,230↑ 23% | 66 mi |
| Louisville/Jefferson County, KY-IN Financial Managers Salary | $147,750↑ 36% | 72 mi |
| Cincinnati, OH-KY-IN Financial Managers Salary | $160,960↑ 48% | 100 mi |
Comparing salaries near Central Kentucky nonmetropolitan area
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Central Kentucky nonmetropolitan area?
The median annual salary for a Financial Managers in Central Kentucky nonmetropolitan area is $109,010. This typically ranges from $65,780 for entry-level positions to $164,610 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Central Kentucky nonmetropolitan area is 40.9% lower than the national median of $184,480.
Is Central Kentucky nonmetropolitan area a lucrative place for Financial Managers?
No, it is not as lucrative as the national average.The average salary of $109,010 is significantly below the national average of $184,480. However, the cost of living is also at the national average, meaning the nominal salary's purchasing power is comparable.
Is Central Kentucky nonmetropolitan area a good place to live for Financial Managers?
The Cost of Living Index in Central Kentucky nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Central Kentucky nonmetropolitan area?
Some top paying nearby cities include Lexington-Fayette, KY ($146,680) and Elizabethtown, KY.
How does the Central Kentucky Financial Manager salary compare to the national average?
Financial Managers in Central Kentucky earn an average of $109,010 annually, which is substantially lower than the national average of $184,480.
What is the concentration of Financial Managers in Central Kentucky?
The concentration, or Location Quotient, for Financial Managers in Central Kentucky is 0.52, indicating they are less common in this region than the national average.
How does the cost of living in Central Kentucky affect salary perception?
With a Cost of Living Index of 100, Central Kentucky is at the national average. This means the $109,010 salary has purchasing power equivalent to the national average, despite being a lower nominal figure.
What is the total number of Financial Managers in this region?
There are approximately 470 Financial Managers employed in the Central Kentucky nonmetropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 470 employees in the Central Kentucky nonmetropolitan area area with a job density of 2.735 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 Kentucky nonmetropolitan area