Average Financial Managers Salary in East Kentucky nonmetropolitan area
Financial Managers in the East Kentucky nonmetropolitan area earn an average annual salary of $110,460. This figure is notably lower than the national average of $184,480, reflecting the distinct economic landscape and demand drivers specific to this region. Factors such as industry concentration and the overall economic scale of the area contribute to this localized compensation.
Executive Summary
- Average Salary: $110,460 per year.
- Growth Trend: Salaries have shifted 41.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $166,410.
- Outlook: The job market for Financial Managers in East Kentucky appears to be relatively specialized, with a total local workforce of 210 individuals. The Location Quotient of 0.42 indicates a lower concentration of these roles compared to the national average, suggesting that while opportunities exist, they are not as abundant as in more metropolitan or industry-heavy regions.
Salary Overview
The average Financial Managers in East Kentucky nonmetropolitan area earns-40.1%below the national average.
$53.1
$2,124
$9,205
Financial Managers Salary Trends (2020-2024)
While specific historical data for East Kentucky's Financial Manager salaries is not provided, it is generally assumed that compensation for such roles has experienced gradual growth over the past four years, mirroring broader economic trends and inflation. This growth would likely be influenced by regional economic performance and the increasing complexity of financial management.
Financial Managers Salary Distribution in East Kentucky nonmetropolitan area
Salary progression for Financial Managers typically correlates with experience. Entry-level positions will command lower salaries, while senior roles requiring extensive expertise and strategic oversight will see significantly higher compensation. The percentile gaps between different experience levels highlight the substantial career growth potential and increased earning capacity within this profession.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $60,720 | $29.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $82,845 | $39.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $102,570 | $49.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $138,075 | $66.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $166,410 | $80 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$110,460
Gross Pay
Real Wage (Purchasing Power)
$110,460
Adjusted for COL (100)
With a Cost of Living Index of 100, East Kentucky is at the national average for living expenses. Therefore, the nominal salary of $110,460 for Financial Managers provides a purchasing power that aligns with the national average, meaning that the cost of goods and services is neither a significant advantage nor disadvantage when comparing to national standards.
Job Market Context
210
Total Jobs
2.248
Per 1K Jobs
0.42
Location Quotient
At 0.42x, East Kentucky nonmetropolitan area has a notably lower concentration of Financial Managers jobs than the national average. Opportunities in this area are relatively scarce for this profession.
The Location Quotient of 0.42 for Financial Managers in East Kentucky signifies a market with less than half the national concentration of these professionals. This suggests a less saturated job market, potentially offering unique opportunities for skilled individuals, but also indicating a lower overall demand compared to national benchmarks.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Lexington-Fayette, KY Financial Managers Salary | $146,680↑ 33% | 28 mi |
| Elizabethtown, KY Financial Managers Salary | $134,230↑ 22% | 66 mi |
| Louisville/Jefferson County, KY-IN Financial Managers Salary | $147,750↑ 34% | 72 mi |
| Cincinnati, OH-KY-IN Financial Managers Salary | $160,960↑ 46% | 100 mi |
Comparing salaries near East Kentucky nonmetropolitan area
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in East Kentucky nonmetropolitan area?
The median annual salary for a Financial Managers in East Kentucky nonmetropolitan area is $110,460. This typically ranges from $60,720 for entry-level positions to $166,410 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in East Kentucky nonmetropolitan area is 40.1% lower than the national median of $184,480.
Is East Kentucky nonmetropolitan area a lucrative place for Financial Managers?
No, it is not as lucrative as the national average.The average salary of $110,460 is significantly below the national average of $184,480, indicating lower earning potential in this region. However, the cost of living is also at the national average, making the purchasing power comparable.
Is East Kentucky nonmetropolitan area a good place to live for Financial Managers?
The Cost of Living Index in East Kentucky nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near East Kentucky nonmetropolitan area?
Some top paying nearby cities include Lexington-Fayette, KY ($146,680) and Elizabethtown, KY.
What is the average salary for a Financial Manager in East Kentucky?
The average annual salary for a Financial Manager in the East Kentucky nonmetropolitan area is $110,460.
How does the East Kentucky salary compare to the national average?
The average salary in East Kentucky ($110,460) is considerably lower than the national average of $184,480.
What does the Location Quotient of 0.42 mean for Financial Managers in East Kentucky?
A Location Quotient of 0.42 indicates that Financial Managers are less concentrated in East Kentucky compared to the national average, suggesting a smaller, more specialized job market.
How does the Cost of Living in East Kentucky affect the salary?
With a Cost of Living Index of 100, East Kentucky is at the national average. This means the $110,460 salary offers purchasing power equivalent to the national average, without significant cost-of-living advantages or disadvantages.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 210 employees in the East Kentucky nonmetropolitan area area with a job density of 2.248 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 Kentucky nonmetropolitan area