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Average Financial Managers Salary in Erie, PA

Financial Managers in Erie, PA, command an average annual salary of $123,650. This figure is notably below the national average of $184,480, reflecting regional economic factors and industry demand specific to Erie. The local market dynamics, including workforce size and industry concentration, play a significant role in shaping compensation for these critical finance professionals.

Executive Summary

  • Average Salary: $123,650 per year.
  • Growth Trend: Salaries have shifted 3.5% ↘ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $178,470.
  • Outlook: The financial management sector in Erie, PA, supports a local workforce of 460 professionals. With a Location Quotient of 0.73, the concentration of financial managers is slightly below the national average, suggesting a stable but not hyper-competitive market. The presence of 3.873 jobs per 1,000 workers indicates a consistent demand for skilled financial leadership within the region.
2024 Market Data

Salary Overview

$123,650

The average Financial Managers in Erie, PA earns-33.0%below the national average.

BreakdownBased on 40h/week
Hourly

$59.5

Weekly

$2,378

Monthly

$10,304

Financial Managers Salary Distribution in Erie, PA

Career progression significantly impacts a Financial Manager's earning potential. Entry-level positions typically start at the lower end of the salary spectrum, while senior roles, requiring extensive experience and specialized skills, command substantially higher compensation. The percentile gaps in salary distribution highlight the substantial rewards associated with advancing through the ranks and accumulating expertise in financial management.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$66,870$32.1
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$92,738$44.6
ManagerOversees team, compliance, and project delivery.50% (Median)$109,120$52.5
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$154,563$74.3
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$178,470$85.8

Detailed Financial Managers Market Analysis

Relocation Context

Nominal Salary

$123,650

Gross Pay

Real Wage (Purchasing Power)

$123,650

Adjusted for COL (100)

The average annual salary of $123,650 for Financial Managers in Erie, PA, aligns perfectly with the national average cost of living, indicated by an index of 100. This means that the purchasing power of a Financial Manager's salary in Erie is equivalent to the national average, offering a balanced lifestyle without the premium often associated with higher cost-of-living areas.

Job Market Context

460

Total Jobs

3.873

Per 1K Jobs

0.73

Location Quotient

Below Average

Erie, PA has 0.73x 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 0.73 indicates that Erie, PA, has a slightly lower concentration of Financial Managers compared to the national average. This suggests that while the profession is established, the market may offer fewer opportunities for highly specialized roles but potentially less intense competition for generalist positions. The job market is moderately developed, with a steady presence of these essential finance roles.

Nearby Job Markets

Nearby Cities for Financial Managers

CitySalaryDist.
Youngstown-Warren, OH Financial Managers Salary$121,470↓ 2%76 mi
Buffalo-Cheektowaga, NY Financial Managers Salary$179,460↑ 45%83 mi
Cleveland, OH Financial Managers Salary$160,060↑ 29%94 mi

Comparing salaries near Erie, PA

Hiring Financial Managerss?

Frequently Asked Questions

How much does a Financial Managers make in Erie, PA?

The median annual salary for a Financial Managers in Erie, PA is $123,650. This typically ranges from $66,870 for entry-level positions to $178,470 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Erie, PA is 33.0% lower than the national median of $184,480.

Is Erie, PA a lucrative place for Financial Managers?

No, not exceptionally lucrative compared to national averages.While the average salary of $123,650 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 salary's purchasing power comparable.

Is Erie, PA a good place to live for Financial Managers?

The Cost of Living Index in Erie, PA is 100. While higher than average, this often correlates with higher wages.

Where are the highest paying cities near Erie, PA?

Some top paying nearby cities include Youngstown-Warren, OH ($121,470) and Buffalo-Cheektowaga, NY.

How does the Erie, PA salary compare to the national average?

The average salary for Financial Managers in Erie, PA, is $123,650, which is considerably lower than the national average of $184,480.

What is the Cost of Living in Erie, PA for Financial Managers?

The Cost of Living Index in Erie, PA, is 100, which is exactly the national average. This means your salary has average purchasing power.

How concentrated is the Financial Manager job market in Erie, PA?

The job market has a Location Quotient of 0.73, indicating a slightly lower concentration of Financial Managers compared to the national average.

How many Financial Managers are there in Erie, PA?

There are approximately 460 Financial Managers in the local workforce in Erie, PA.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 460 employees in the Erie, PA area with a job density of 3.873 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Financial Managers • Data source: BLS OEWS 2024 •Jobs in Erie, PA