Average Financial Managers Salary in Durham-Chapel Hill, NC
Financial Managers in the Durham-Chapel Hill, NC area earn an impressive average annual salary of $181,420. This figure is slightly below the national average of $184,480, indicating a competitive but not exceptionally high-paying market. Local economic factors and the specific industry demands within the Research Triangle region likely influence this compensation.
Executive Summary
- Average Salary: $181,420 per year.
- Growth Trend: Salaries have shifted 9.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $272,130.
- Outlook: With a local workforce of 1,710 Financial Managers and a Location Quotient of 0.94, the job market in Durham-Chapel Hill demonstrates a healthy concentration of these professionals, nearly mirroring the national average. This suggests a stable demand for financial expertise, supported by the region's robust economic and research-driven industries.
Salary Overview
The average Financial Managers in Durham-Chapel Hill, NC earns-1.7%below the national average.
$87.2
$3,489
$15,118
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Financial Managers in Durham-Chapel Hill have experienced steady growth over the past four years, mirroring national trends. This growth is typically driven by increasing complexity in financial regulations, evolving business strategies, and the demand for skilled professionals to navigate these changes.
Financial Managers Salary Distribution in Durham-Chapel Hill, NC
The salary spectrum for Financial Managers in Durham-Chapel Hill, NC, widens significantly with experience. Entry-level positions might start in the lower percentiles, while seasoned professionals with extensive expertise and leadership responsibilities can command salaries in the upper percentiles, reflecting their increased value and strategic impact on an organization's financial health.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $98,110 | $47.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $136,065 | $65.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $161,950 | $77.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $226,775 | $109 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $272,130 | $130.8 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$181,420
Gross Pay
Real Wage (Purchasing Power)
$181,420
Adjusted for COL (100)
The average annual salary of $181,420 in Durham-Chapel Hill 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 area is equivalent to the national standard, offering a stable financial environment for residents.
Job Market Context
1,710
Total Jobs
4.981
Per 1K Jobs
0.94
Location Quotient
Durham-Chapel Hill, NC 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 Financial Managers are slightly less concentrated in Durham-Chapel Hill compared to the national average. This suggests a competitive job market where demand is present but not overwhelmingly saturated, potentially offering good opportunities for skilled professionals seeking roles.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Raleigh-Cary, NC Financial Managers Salary | $177,240↓ 2% | 18 mi |
| Burlington, NC Financial Managers Salary | $150,180↓ 17% | 32 mi |
| Greensboro-High Point, NC Financial Managers Salary | $171,570↓ 5% | 52 mi |
| Eastern North Carolina nonmetropolitan area Financial Managers Salary | $135,140↓ 26% | 56 mi |
| Western North Carolina nonmetropolitan area Financial Managers Salary | $131,600↓ 27% | 56 mi |
Comparing salaries near Durham-Chapel Hill, NC
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Durham-Chapel Hill, NC?
The median annual salary for a Financial Managers in Durham-Chapel Hill, NC is $181,420. This typically ranges from $98,110 for entry-level positions to $272,130 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Durham-Chapel Hill, NC is 1.7% lower than the national median of $184,480.
Is Durham-Chapel Hill, NC a lucrative place for Financial Managers?
Yes, it offers a competitive salary.Financial Managers in Durham-Chapel Hill earn $181,420 annually, closely matching the national average, while the cost of living is also at the national average. This balance makes it a financially stable and attractive location for these professionals.
Is Durham-Chapel Hill, NC a good place to live for Financial Managers?
The Cost of Living Index in Durham-Chapel Hill, NC is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Durham-Chapel Hill, NC?
Some top paying nearby cities include Raleigh-Cary, NC ($177,240) and Burlington, NC.
How does the Financial Manager salary compare to the national average?
The average annual salary for Financial Managers in Durham-Chapel Hill, NC is $181,420, which is slightly below the national average of $184,480.
What is the cost of living in Durham-Chapel Hill, NC for Financial Managers?
The cost of living index in Durham-Chapel Hill, NC is 100, which is exactly the national average, meaning your salary has average purchasing power.
How concentrated is the Financial Manager job market in Durham-Chapel Hill, NC?
The job market has a Location Quotient of 0.94, indicating a concentration of Financial Managers that is very close to the national average, suggesting a healthy and stable demand.
How many Financial Managers are there in Durham-Chapel Hill, NC?
There are approximately 1,710 Financial Managers employed in the Durham-Chapel Hill, NC area, representing 4.981 jobs per 1,000 workers.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,710 employees in the Durham-Chapel Hill, NC area with a job density of 4.981 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 Durham-Chapel Hill, NC