Average Financial Managers Salary in Connecticut nonmetropolitan area
Financial Managers in Connecticut's nonmetropolitan areas earn an average annual salary of $151,860. This figure is notably below the national average of $184,480, suggesting that regional economic factors and industry concentration play a significant role in compensation within these locales. The specific economic landscape and demand for financial expertise outside major urban centers likely influence this pay scale.
Executive Summary
- Average Salary: $151,860 per year.
- Growth Trend: Salaries have shifted 28.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $232,530.
- Outlook: The Financial Manager job market in Connecticut's nonmetropolitan areas, with a total workforce of 380 professionals, indicates a stable, albeit niche, demand. The Location Quotient of 1.09 suggests a slightly higher concentration of these roles compared to the national average, implying a steady presence and potential for consistent employment opportunities within this segment of the state's economy.
Salary Overview
The average Financial Managers in Connecticut nonmetropolitan area earns-17.7%below the national average.
$73
$2,920
$12,655
Financial Managers Salary Trends (2020-2024)
While specific historical data for this precise nonmetropolitan segment is not provided, it is reasonable to assume that salaries for Financial Managers in Connecticut's nonmetropolitan areas have experienced gradual growth over the past four years, mirroring broader economic trends and inflation. This upward trajectory is typical for specialized finance roles as demand for financial acumen persists across various industries.
Financial Managers Salary Distribution in Connecticut nonmetropolitan area
Salary progression for Financial Managers is strongly tied to experience and responsibility. Entry-level positions typically command salaries at the lower end of the spectrum, while senior roles, requiring extensive expertise and strategic oversight, can significantly exceed the average. The percentile gaps in compensation clearly signify the career progression and increased earning potential as professionals advance through different levels of experience and leadership.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $85,790 | $41.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $113,895 | $54.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $132,870 | $63.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $189,825 | $91.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $232,530 | $111.8 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$151,860
Gross Pay
Real Wage (Purchasing Power)
$151,860
Adjusted for COL (100)
The average annual salary of $151,860 in Connecticut'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 comparable to the national standard, offering a balanced financial environment where income effectively meets typical living expenses.
Job Market Context
380
Total Jobs
5.806
Per 1K Jobs
1.09
Location Quotient
With a location quotient of 1.09, Connecticut nonmetropolitan area has a slightly higher-than-average concentration of Financial Managers roles compared to the national norm.
With a Location Quotient of 1.09, Connecticut's nonmetropolitan areas exhibit a slightly higher concentration of Financial Managers than the national average. This suggests a moderately competitive market where the demand for these professionals is robust enough to support a presence slightly above the typical distribution, indicating a healthy job environment for skilled individuals.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Hartford-West Hartford-East Hartford, CT Financial Managers Salary | $180,060↑ 19% | 12 mi |
| Waterbury-Shelton, CT Financial Managers Salary | $174,320↑ 15% | 15 mi |
| New Haven, CT Financial Managers Salary | $162,990↑ 7% | 22 mi |
| Norwich-New London-Willimantic, CT Financial Managers Salary | $161,340↑ 6% | 35 mi |
| Bridgeport-Stamford-Danbury, CT Financial Managers Salary | $229,940↑ 51% | 36 mi |
Comparing salaries near Connecticut nonmetropolitan area
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Connecticut nonmetropolitan area?
The median annual salary for a Financial Managers in Connecticut nonmetropolitan area is $151,860. This typically ranges from $85,790 for entry-level positions to $232,530 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Connecticut nonmetropolitan area is 17.7% lower than the national median of $184,480.
Is Connecticut nonmetropolitan area a lucrative place for Financial Managerss?
Yes, with a caveat.While the average salary of $151,860 is below the national average, the Cost of Living Index of 100 means your earnings hold average purchasing power. The slightly higher concentration (LQ 1.09) also suggests stable demand.
Is Connecticut nonmetropolitan area a good place to live for Financial Managers?
The Cost of Living Index in Connecticut nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Connecticut nonmetropolitan area?
Some top paying nearby cities include Hartford-West Hartford-East Hartford, CT ($180,060) and Waterbury-Shelton, CT.
How does the Financial Manager salary in CT nonmetro areas compare to the national average?
The average salary of $151,860 in Connecticut's nonmetropolitan areas is below the national average of $184,480, indicating regional economic influences on compensation.
What is the Cost of Living like for Financial Managers in this region?
The Cost of Living Index is 100, which is the national average. This means that the $151,860 salary offers purchasing power equivalent to the national standard.
Is there high demand for Financial Managers in CT's nonmetropolitan areas?
The Location Quotient of 1.09 suggests a slightly higher concentration of Financial Managers than the national average, indicating a steady and slightly above-average demand for these roles.
How many Financial Managers work in Connecticut's nonmetropolitan areas?
There are approximately 380 Financial Managers employed in Connecticut's nonmetropolitan areas, representing a focused segment of the state's financial workforce.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 380 employees in the Connecticut nonmetropolitan area area with a job density of 5.806 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 Connecticut nonmetropolitan area