Average Financial Managers Salary in East South Dakota nonmetropolitan area
Financial Managers in the East South Dakota nonmetropolitan area earn an average annual salary of $155,940. This figure is notably below the national average of $184,480, reflecting the unique economic dynamics and potentially lower demand for specialized financial roles in nonmetropolitan regions. The compensation is influenced by the specific industry mix and the overall economic scale of the area.
Executive Summary
- Average Salary: $155,940 per year.
- Growth Trend: Salaries have shifted 7.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $203,630.
- Outlook: The local workforce for Financial Managers in this nonmetropolitan area comprises 240 individuals, indicating a relatively small but established presence. With a Location Quotient of 0.33, the concentration of these roles is significantly lower than the national average, suggesting a niche market. The rate of 1.77 jobs per 1,000 workers further underscores that while positions exist, they are not as prevalent as in more urbanized or industrially diverse locales.
Salary Overview
The average Financial Managers in East South Dakota nonmetropolitan area earns-15.5%below the national average.
$75
$2,999
$12,995
Financial Managers Salary Trends (2020-2024)
While specific historical data for this nonmetropolitan region is not provided, it is reasonable to assume that salaries for Financial Managers have experienced growth over the past four years, mirroring national trends. Economic development, inflation, and increasing complexity in financial management likely contribute to upward pressure on compensation, even in less concentrated markets.
Financial Managers Salary Distribution in East South Dakota nonmetropolitan area
Career progression for Financial Managers typically involves a significant salary increase with experience. Entry-level positions often start at lower percentiles, while senior roles, characterized by greater responsibility and strategic oversight, command salaries in the higher percentiles. The widening gap between entry-level and senior compensation signifies substantial career growth opportunities and the value placed on accumulated expertise and leadership.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $113,730 | $54.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $116,955 | $56.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $145,800 | $70.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $194,925 | $93.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $203,630 | $97.9 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$155,940
Gross Pay
Real Wage (Purchasing Power)
$155,940
Adjusted for COL (100)
The average annual salary of $155,940 in the East South Dakota nonmetropolitan area 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 the national average. While the nominal salary is lower than the national average, the cost of living parity suggests that the take-home pay offers comparable living standards to many other parts of the country.
Job Market Context
240
Total Jobs
1.77
Per 1K Jobs
0.33
Location Quotient
At 0.33x, East South Dakota 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.
A Location Quotient of 0.33 indicates that Financial Manager roles are less concentrated in the East South Dakota nonmetropolitan area compared to the national average. This suggests a less competitive market in terms of the sheer number of available professionals relative to job openings. While this might imply fewer opportunities overall, it could also mean less intense competition for those seeking positions within this specialized field.
Nearby Job Markets
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Frequently Asked Questions
How much does a Financial Managers make in East South Dakota nonmetropolitan area?
The median annual salary for a Financial Managers in East South Dakota nonmetropolitan area is $155,940. This typically ranges from $113,730 for entry-level positions to $203,630 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in East South Dakota nonmetropolitan area is 15.5% lower than the national median of $184,480.
Is East South Dakota nonmetropolitan area a lucrative place for Financial Managers?
No, not compared to the national average.While the average salary of $155,940 is substantial, it falls below the national average of $184,480. The lower concentration of these roles also suggests a less robust market.
Is East South Dakota nonmetropolitan area a good place to live for Financial Managers?
The Cost of Living Index in East South Dakota nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
How does the local salary compare to the national average?
The average salary for Financial Managers in the East South Dakota nonmetropolitan area is $155,940, which is 15.4% lower than the national average of $184,480.
What is the concentration of Financial Managers in this area?
The concentration, measured by the Location Quotient, is 0.33, meaning there are significantly fewer Financial Managers per worker in this region compared to the national average.
How does the cost of living affect the salary?
With a Cost of Living Index of 100, the local salary of $155,940 has the same purchasing power as the national average salary, indicating a balanced economic environment.
What is the total number of Financial Managers in this area?
There are approximately 240 Financial Managers employed in the East South Dakota nonmetropolitan area, representing a small but dedicated workforce.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 240 employees in the East South Dakota nonmetropolitan area area with a job density of 1.77 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 South Dakota nonmetropolitan area