Average Financial Managers Salary in Davenport-Moline-Rock Island, IA-IL
Financial Managers in the Davenport-Moline-Rock Island, IA-IL area earn an average annual salary of $143,960. This figure is notably below the national average of $184,480, suggesting that local market dynamics and industry-specific demand play a significant role in compensation within this region. The cost of living in Davenport-Moline-Rock Island aligns perfectly with the national average, meaning the local salary offers standard purchasing power.
Executive Summary
- Average Salary: $143,960 per year.
- Growth Trend: Salaries have shifted 28.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $222,490.
- Outlook: The financial management sector in Davenport-Moline-Rock Island demonstrates a healthy presence, with a local workforce of 1,080 professionals. The location quotient of 1.13 indicates a slightly higher concentration of these roles compared to the national average, suggesting a stable and perhaps growing demand for financial expertise within the region's economic landscape.
Salary Overview
The average Financial Managers in Davenport-Moline-Rock Island, IA-IL earns-22.0%below the national average.
$69.2
$2,768
$11,997
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the salaries for Financial Managers in Davenport-Moline-Rock Island have experienced a gradual upward trend over the past four years, mirroring general economic growth and inflation. This growth is often driven by increasing responsibilities, evolving financial regulations, and the continuous need for skilled financial oversight in businesses.
Financial Managers Salary Distribution in Davenport-Moline-Rock Island, IA-IL
Salary progression for Financial Managers is strongly tied to experience and specialization. Entry-level positions typically command salaries at the lower end of the spectrum, while senior roles with extensive experience and strategic responsibilities can reach significantly higher compensation levels, often in the top percentiles. The widening gap between entry-level and senior salaries reflects the substantial value placed on seasoned financial leadership.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $72,770 | $35 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $107,970 | $51.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $130,980 | $63 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $179,950 | $86.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $222,490 | $107 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$143,960
Gross Pay
Real Wage (Purchasing Power)
$143,960
Adjusted for COL (100)
With an average annual salary of $143,960 and a Cost of Living Index of 100, Financial Managers in Davenport-Moline-Rock Island experience a salary that directly matches the national average in terms of purchasing power. This means that the nominal salary translates to a standard lifestyle relative to the rest of the country, offering stability for those relocating or residing in the area.
Job Market Context
1,080
Total Jobs
5.995
Per 1K Jobs
1.13
Location Quotient
With a location quotient of 1.13, Davenport-Moline-Rock Island, IA-IL has a slightly higher-than-average concentration of Financial Managers roles compared to the national norm.
The location quotient of 1.13 for Financial Managers in Davenport-Moline-Rock Island signifies a job market that is slightly more concentrated than the national average. This suggests that while the profession is well-established and perhaps more prevalent than in some other areas, the competition for roles might be moderately higher, necessitating strong qualifications and experience for successful placement.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Iowa City, IA Financial Managers Salary | $136,550↓ 5% | 48 mi |
| Cedar Rapids, IA Financial Managers Salary | $139,940↓ 3% | 62 mi |
| Dubuque, IA Financial Managers Salary | $129,570↓ 10% | 65 mi |
| Peoria, IL Financial Managers Salary | $153,220↑ 6% | 76 mi |
| Rockford, IL Financial Managers Salary | $141,750↓ 2% | 93 mi |
Comparing salaries near Davenport-Moline-Rock Island, IA-IL
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Davenport-Moline-Rock Island, IA-IL?
The median annual salary for a Financial Managers in Davenport-Moline-Rock Island, IA-IL is $143,960. This typically ranges from $72,770 for entry-level positions to $222,490 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Davenport-Moline-Rock Island, IA-IL is 22.0% lower than the national median of $184,480.
Is Davenport-Moline-Rock Island, IA-IL a lucrative place for Financial Managers?
No, but it offers standard purchasing power.While the average salary of $143,960 is below the national average, the local cost of living index of 100 means that the salary provides purchasing power equivalent to the national average.
Is Davenport-Moline-Rock Island, IA-IL a good place to live for Financial Managers?
The Cost of Living Index in Davenport-Moline-Rock Island, IA-IL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Davenport-Moline-Rock Island, IA-IL?
Some top paying nearby cities include Iowa City, IA ($136,550) and Cedar Rapids, IA.
How does the Davenport-Moline-Rock Island salary compare to the national average?
The average salary for Financial Managers in Davenport-Moline-Rock Island is $143,960, which is lower than the national average of $184,480.
What is the total number of Financial Managers in Davenport-Moline-Rock Island?
There are approximately 1,080 Financial Managers employed in the Davenport-Moline-Rock Island, IA-IL area.
What does a Location Quotient of 1.13 mean for Financial Managers in this area?
A location quotient of 1.13 indicates that Financial Managers are slightly more concentrated in Davenport-Moline-Rock Island compared to the national average, suggesting a moderate level of industry presence.
How does the Cost of Living Index affect the value of a Financial Manager's salary in Davenport-Moline-Rock Island?
With a Cost of Living Index of 100, the average salary of $143,960 in Davenport-Moline-Rock Island offers purchasing power that is on par with the national average, despite being lower in nominal terms.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,080 employees in the Davenport-Moline-Rock Island, IA-IL area with a job density of 5.995 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 Davenport-Moline-Rock Island, IA-IL