Average Financial Managers Salary in East Central Illinois nonmetropolitan area
Financial Managers in the East Central Illinois nonmetropolitan area earn an average annual salary of $140,910. This figure is notably below the national average of $184,480, reflecting regional economic factors and the specific demand dynamics within this nonmetropolitan setting. The localized pay scale is a direct consequence of the area's economic structure and the concentration of financial management roles.
Executive Summary
- Average Salary: $140,910 per year.
- Growth Trend: Salaries have shifted 51.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $211,365.
- Outlook: The local job market for Financial Managers in East Central Illinois is moderately concentrated, with a total workforce of 810 individuals in this role. The Location Quotient of 1.06 suggests a slightly higher presence of these professionals compared to the national average, indicating a stable, albeit not rapidly expanding, demand within the region's economic landscape.
Salary Overview
The average Financial Managers in East Central Illinois nonmetropolitan area earns-23.6%below the national average.
$67.7
$2,710
$11,743
Financial Managers Salary Trends (2020-2024)
While specific historical data for this nonmetropolitan area is not provided, it is generally assumed that salaries for Financial Managers across the nation, including in regions like East Central Illinois, have experienced steady growth over the past four years. This growth is typically driven by inflation, increasing complexity in financial operations, and a persistent need for skilled financial leadership.
Financial Managers Salary Distribution in East Central Illinois nonmetropolitan area
Salary progression for Financial Managers is significantly influenced by experience. Entry-level positions typically command salaries at the lower end of the spectrum, while senior roles, requiring extensive expertise and strategic oversight, can reach substantially higher figures. The percentile gaps in compensation clearly signify the career trajectory and reward for accumulated knowledge and proven performance in financial management.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $76,420 | $36.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $105,683 | $50.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $120,010 | $57.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $176,138 | $84.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $211,365 | $101.6 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$140,910
Gross Pay
Real Wage (Purchasing Power)
$140,910
Adjusted for COL (100)
The nominal average annual salary of $140,910 in East Central Illinois 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 equivalent to that of their national counterparts, offering a stable financial standing relative to everyday expenses.
Job Market Context
810
Total Jobs
5.619
Per 1K Jobs
1.06
Location Quotient
With a location quotient of 1.06, East Central Illinois nonmetropolitan area has a slightly higher-than-average concentration of Financial Managers roles compared to the national norm.
With a Location Quotient of 1.06, the East Central Illinois nonmetropolitan area exhibits a slightly higher concentration of Financial Managers than the national average. This indicates a competitive yet stable job market where demand is present and perhaps slightly more focused than in broader, more diverse economic centers.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Bloomington, IL Financial Managers Salary | $171,640↑ 22% | 9 mi |
| Decatur, IL Financial Managers Salary | $135,350↓ 4% | 34 mi |
| Champaign-Urbana, IL Financial Managers Salary | $135,120↓ 4% | 41 mi |
| Peoria, IL Financial Managers Salary | $153,220↑ 9% | 43 mi |
| Springfield, IL Financial Managers Salary | $147,470↑ 5% | 53 mi |
Comparing salaries near East Central Illinois nonmetropolitan area
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in East Central Illinois nonmetropolitan area?
The median annual salary for a Financial Managers in East Central Illinois nonmetropolitan area is $140,910. This typically ranges from $76,420 for entry-level positions to $211,365 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in East Central Illinois nonmetropolitan area is 23.6% lower than the national median of $184,480.
Is East Central Illinois nonmetropolitan area a lucrative place for Financial Managers?
Yes, relative to the cost of living.While the average salary of $140,910 is below the national average, the cost of living is also at the national average, making the purchasing power equivalent. The slightly higher concentration of these roles suggests stable demand.
Is East Central Illinois nonmetropolitan area a good place to live for Financial Managers?
The Cost of Living Index in East Central Illinois nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near East Central Illinois nonmetropolitan area?
Some top paying nearby cities include Bloomington, IL ($171,640) and Decatur, IL.
How does the salary compare to the national average?
The average salary for Financial Managers in East Central Illinois is $140,910, which is lower than the national average of $184,480.
What is the cost of living in East Central Illinois?
The cost of living in East Central Illinois is at the national average, indicated by an index of 100.
How many Financial Managers work in this area?
There are approximately 810 Financial Managers working in the East Central Illinois nonmetropolitan area.
Is there high demand for Financial Managers in this region?
The Location Quotient of 1.06 suggests a slightly higher concentration of Financial Managers than the national average, indicating stable and present demand.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 810 employees in the East Central Illinois nonmetropolitan area area with a job density of 5.619 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 East Central Illinois nonmetropolitan area