Average Financial Managers Salary in Decatur, IL
Financial Managers in Decatur, IL, earn an average annual salary of $135,350. This figure is notably below the national average of $184,480, suggesting localized economic factors and demand play a significant role in compensation within this specific Illinois market. The pay scale reflects the unique economic landscape and industry concentration present in Decatur.
Executive Summary
- Average Salary: $135,350 per year.
- Growth Trend: Salaries have shifted 40.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $232,300.
- Outlook: Decatur, IL, supports a local workforce of 260 Financial Managers, with 5.787 jobs per 1,000 workers. The Location Quotient of 1.09 indicates a slightly higher concentration of these roles compared to the national average, suggesting a stable, albeit not rapidly expanding, demand for financial management expertise within the region.
Salary Overview
The average Financial Managers in Decatur, IL earns-26.6%below the national average.
$65.1
$2,603
$11,279
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that Financial Manager salaries in Decatur, like most markets, have experienced a steady upward trend over the past four years. This growth is typically driven by inflation, increasing demand for financial expertise, and the evolving complexity of financial operations across industries.
Financial Managers Salary Distribution in Decatur, IL
The salary trajectory for Financial Managers in Decatur, IL, escalates significantly with experience. Entry-level positions typically start at lower percentiles, while seasoned professionals with extensive expertise and leadership responsibilities command salaries in the higher percentiles. These percentile gaps clearly delineate the career progression and increased earning potential available within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $66,390 | $31.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $101,513 | $48.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $118,200 | $56.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $169,188 | $81.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $232,300 | $111.7 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$135,350
Gross Pay
Real Wage (Purchasing Power)
$135,350
Adjusted for COL (100)
The average annual salary of $135,350 in Decatur, IL, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the nominal salary holds its purchasing power directly against national standards, offering a stable financial footing for professionals considering a move to or within the area.
Job Market Context
260
Total Jobs
5.787
Per 1K Jobs
1.09
Location Quotient
With a location quotient of 1.09, Decatur, IL has a slightly higher-than-average concentration of Financial Managers roles compared to the national norm.
With a Location Quotient of 1.09, Decatur, IL, exhibits a slightly higher concentration of Financial Managers than the national average. This suggests a moderately competitive job market where demand is present and potentially growing, offering good opportunities for skilled professionals without being oversaturated.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| West Central Illinois nonmetropolitan area Financial Managers Salary | $128,400↓ 5% | 34 mi |
| East Central Illinois nonmetropolitan area Financial Managers Salary | $140,910↑ 4% | 34 mi |
| Northwest Illinois nonmetropolitan area Financial Managers Salary | $134,200↓ 1% | 34 mi |
| South Illinois nonmetropolitan area Financial Managers Salary | $119,080↓ 12% | 34 mi |
| Springfield, IL Financial Managers Salary | $147,470↑ 9% | 39 mi |
Comparing salaries near Decatur, IL
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Decatur, IL?
The median annual salary for a Financial Managers in Decatur, IL is $135,350. This typically ranges from $66,390 for entry-level positions to $232,300 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Decatur, IL is 26.6% lower than the national median of $184,480.
Is Decatur, IL a lucrative place for Financial Managers?
Yes, Decatur, IL offers a competitive salary for Financial Managers relative to its cost of living.Financial Managers in Decatur earn $135,350 annually, which is at par with the national cost of living index of 100. This makes the salary quite valuable in terms of purchasing power locally.
Is Decatur, IL a good place to live for Financial Managers?
The Cost of Living Index in Decatur, IL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Decatur, IL?
Some top paying nearby cities include West Central Illinois nonmetropolitan area ($128,400) and East Central Illinois nonmetropolitan area.
How does the Decatur Financial Manager salary compare to the national average?
The average salary for Financial Managers in Decatur, IL, is $135,350, which is lower than the national average of $184,480.
What is the concentration of Financial Managers in Decatur, IL?
Decatur, IL has a Location Quotient of 1.09 for Financial Managers, indicating a slightly higher concentration of these professionals compared to the national average.
How does the cost of living in Decatur affect the Financial Manager salary?
Decatur's Cost of Living Index is 100, matching the national average. This means the $135,350 salary offers purchasing power equivalent to the national standard.
What is the total workforce size for Financial Managers in Decatur, IL?
There are approximately 260 Financial Managers employed in Decatur, IL.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 260 employees in the Decatur, IL area with a job density of 5.787 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 Decatur, IL