Average Financial Managers Salary in Eastern New Mexico nonmetropolitan area
Financial Managers in the Eastern New Mexico nonmetropolitan area earn an average annual salary of $135,200. This figure is notably below the national average of $184,480, reflecting the unique economic landscape and demand dynamics specific to this region. Factors such as industry concentration and the availability of specialized financial services often influence compensation levels in nonmetropolitan locales.
Executive Summary
- Average Salary: $135,200 per year.
- Growth Trend: Salaries have shifted 34.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $216,030.
- Outlook: The job market for Financial Managers in Eastern New Mexico's nonmetropolitan area, with a total local workforce of 340, presents a nuanced picture. The location quotient of 0.39 indicates a lower concentration of these roles compared to the national average, suggesting a less saturated but potentially more specialized demand. While the absolute number of professionals is modest, the specific need within the local economy for financial oversight is evident.
Salary Overview
The average Financial Managers in Eastern New Mexico nonmetropolitan area earns-26.7%below the national average.
$65
$2,600
$11,267
Financial Managers Salary Trends (2020-2024)
While specific historical data for this precise region is not provided, it is generally assumed that salaries for Financial Managers across the United States have experienced steady growth over the past four years. This trend is typically driven by increasing complexity in financial regulations, evolving business needs, and a persistent demand for skilled financial leadership, which would likely extend to nonmetropolitan areas seeking to retain and attract talent.
Financial Managers Salary Distribution in Eastern New Mexico nonmetropolitan area
Career progression for Financial Managers typically involves a significant salary scale. Entry-level positions might start at a lower percentile, while seasoned professionals with extensive experience and specialized expertise can command salaries well into the higher percentiles. The widening gap between entry-level and senior roles signifies substantial opportunities for career advancement and increased earning potential within the financial management field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $78,580 | $37.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $101,400 | $48.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $120,140 | $57.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $169,000 | $81.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $216,030 | $103.9 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$135,200
Gross Pay
Real Wage (Purchasing Power)
$135,200
Adjusted for COL (100)
The nominal average salary of $135,200 in Eastern New Mexico's nonmetropolitan area aligns precisely with the national average cost of living index of 100. This means that, on average, the purchasing power of a Financial Manager's salary in this region is equivalent to that of their counterparts in a nationally average cost of living area, offering a stable financial standing relative to general expenses.
Job Market Context
340
Total Jobs
2.096
Per 1K Jobs
0.39
Location Quotient
At 0.39x, Eastern New Mexico 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.
With a location quotient of 0.39, the job market for Financial Managers in Eastern New Mexico's nonmetropolitan area is less concentrated than the national average. This suggests that while there may be fewer opportunities overall compared to metropolitan hubs, the demand for these specialized skills is present, and professionals may find less direct competition for available roles, potentially leading to greater job security or unique career paths.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Albuquerque, NM Financial Managers Salary | $139,480↑ 3% | 29 mi |
| Santa Fe, NM Financial Managers Salary | $128,240↓ 5% | 59 mi |
Comparing salaries near Eastern New Mexico nonmetropolitan area
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Eastern New Mexico nonmetropolitan area?
The median annual salary for a Financial Managers in Eastern New Mexico nonmetropolitan area is $135,200. This typically ranges from $78,580 for entry-level positions to $216,030 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Eastern New Mexico nonmetropolitan area is 26.7% lower than the national median of $184,480.
Is Eastern New Mexico nonmetropolitan area a lucrative place for Financial Managers?
No, not compared to the national average.While the average salary of $135,200 is substantial, it falls significantly short of the national average of $184,480. However, the cost of living is also at the national average, making the purchasing power comparable.
Is Eastern New Mexico nonmetropolitan area a good place to live for Financial Managers?
The Cost of Living Index in Eastern New Mexico nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Eastern New Mexico nonmetropolitan area?
Some top paying nearby cities include Albuquerque, NM ($139,480) and Santa Fe, NM.
What is the average salary for a Financial Manager in Eastern New Mexico?
The average annual salary for a Financial Manager in the Eastern New Mexico nonmetropolitan area is $135,200.
How does the salary compare to the national average?
The average salary of $135,200 in Eastern New Mexico is lower than the national average of $184,480 for Financial Managers.
What is the cost of living in Eastern New Mexico?
The cost of living index in the Eastern New Mexico nonmetropolitan area is 100, which is the same as the national average.
How concentrated are Financial Manager jobs in this region?
The concentration of Financial Manager jobs, indicated by a location quotient of 0.39, is less than half the national average, suggesting a lower density of these roles.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 340 employees in the Eastern New Mexico nonmetropolitan area area with a job density of 2.096 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 Eastern New Mexico nonmetropolitan area