Average Financial Managers Salary in Columbia, SC
Financial Managers in Columbia, SC, earn an average annual salary of $134,420. This figure is notably below the national average of $184,480, reflecting regional economic factors and demand specific to the South Carolina capital. Local market dynamics, including industry concentration and the overall economic landscape, play a significant role in shaping compensation for these vital finance professionals.
Executive Summary
- Average Salary: $134,420 per year.
- Growth Trend: Salaries have shifted 10.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $214,800.
- Outlook: With a local workforce of 1,930 Financial Managers and a Location Quotient of 0.94, Columbia, SC, presents a stable, albeit slightly below-average, concentration of these roles compared to the national landscape. The presence of 5.003 jobs per 1,000 workers indicates a consistent, albeit not booming, demand for financial expertise within the region. This suggests a steady job market for experienced professionals, with opportunities likely tied to the growth of established industries in the area.
Salary Overview
The average Financial Managers in Columbia, SC earns-27.1%below the national average.
$64.6
$2,585
$11,202
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Financial Managers in Columbia, SC, have experienced growth over the past four years, mirroring national trends. Economic expansion, inflation, and increasing demand for sophisticated financial planning and analysis likely contributed to upward pressure on compensation. This general trend suggests that the $134,420 average may continue to see modest increases as the market evolves.
Financial Managers Salary Distribution in Columbia, SC
The salary range for Financial Managers in Columbia, SC, significantly expands with experience. Entry-level positions typically start at the lower end of the spectrum, perhaps around $90,000-$100,000, while seasoned professionals with extensive experience and specialized skills can command salaries well over $160,000. The percentile gaps between entry-level, mid-career, and senior roles highlight the substantial career progression and earning potential available within this field in Columbia.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $75,210 | $36.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $100,815 | $48.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $113,390 | $54.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $168,025 | $80.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $214,800 | $103.3 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$134,420
Gross Pay
Real Wage (Purchasing Power)
$134,420
Adjusted for COL (100)
The average annual salary of $134,420 for Financial Managers in Columbia, SC, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of a Financial Manager's salary in Columbia is equivalent to the national average, offering a balanced lifestyle without significant financial strain related to everyday expenses.
Job Market Context
1,930
Total Jobs
5.003
Per 1K Jobs
0.94
Location Quotient
Columbia, SC has 0.94x 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 0.94 indicates that Columbia, SC, has a slightly lower concentration of Financial Managers than the national average. This suggests that while the market is not oversaturated, it is also not experiencing an exceptionally high demand that would drive salaries significantly above the national norm. The job market is competitive, with professionals needing to demonstrate strong skills and experience to secure desirable positions.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Northwestern South Carolina nonmetropolitan area Financial Managers Salary | $134,860↑ 0% | 13 mi |
| Northeastern South Carolina nonmetropolitan area Financial Managers Salary | $130,190↓ 3% | 13 mi |
| Southern South Carolina nonmetropolitan area Financial Managers Salary | $146,800↑ 9% | 13 mi |
| Sumter, SC Financial Managers Salary | $148,330↑ 10% | 30 mi |
| Florence, SC Financial Managers Salary | $150,700↑ 12% | 64 mi |
Comparing salaries near Columbia, SC
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Columbia, SC?
The median annual salary for a Financial Managers in Columbia, SC is $134,420. This typically ranges from $75,210 for entry-level positions to $214,800 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Columbia, SC is 27.1% lower than the national median of $184,480.
Is Columbia, SC a lucrative place for Financial Managers?
Yes, but with caveats.Financial Managers in Columbia, SC, earn a solid $134,420 average salary, which holds strong purchasing power due to the national average cost of living. However, this is below the national average salary, indicating less extreme lucrative potential compared to major metropolitan hubs.
Is Columbia, SC a good place to live for Financial Managers?
The Cost of Living Index in Columbia, SC is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Columbia, SC?
Some top paying nearby cities include Northwestern South Carolina nonmetropolitan area ($134,860) and Northeastern South Carolina nonmetropolitan area.
How does experience impact a Financial Manager's salary in Columbia, SC?
Experience is a primary driver of salary for Financial Managers. Entry-level roles typically offer lower compensation, while senior positions requiring extensive expertise and leadership can significantly increase earnings, often by tens of thousands of dollars.
What is the job outlook for Financial Managers in Columbia, SC?
The outlook is stable, with a consistent presence of Financial Manager roles indicated by the jobs per 1,000 workers metric. While not a high-growth area, established demand suggests steady employment opportunities for qualified professionals.
Is the cost of living in Columbia, SC, favorable for Financial Managers?
Yes, the cost of living in Columbia, SC, is at the national average (100). This means the $134,420 salary provides a comparable standard of living to the national average, making it a financially stable location.
How does Columbia's Financial Manager market compare to the national average?
Columbia's market has a slightly lower concentration of Financial Managers (LQ of 0.94) and a lower average salary ($134,420 vs. $184,480). This suggests a less competitive, but also less highly compensated, market compared to the national average.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,930 employees in the Columbia, SC area with a job density of 5.003 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 Columbia, SC