Average Financial Managers Salary in Florence, SC
Financial Managers in Florence, SC, earn an average annual salary of $150,700. This figure is notably below the national average of $184,480, suggesting that local market dynamics and potentially a lower demand for highly specialized financial roles influence compensation in this region. The specific economic landscape of Florence, SC, plays a crucial role in shaping these salary expectations.
Executive Summary
- Average Salary: $150,700 per year.
- Growth Trend: Salaries have shifted 0.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $226,050.
- Outlook: The Florence, SC, job market for Financial Managers appears moderately concentrated, with a local workforce of 290 individuals. The Location Quotient of 0.61 indicates that this profession is less prevalent here compared to the national average. While the number of jobs per 1,000 workers stands at 3.213, suggesting a consistent presence, the overall concentration implies that opportunities may be more specialized or less abundant than in larger metropolitan areas.
Salary Overview
The average Financial Managers in Florence, SC earns-18.3%below the national average.
$72.5
$2,898
$12,558
Financial Managers Salary Trends (2020-2024)
While specific historical data for Florence, SC, is not provided, it is reasonable to assume that salaries for Financial Managers nationwide have experienced a steady upward trend over the past four years, driven by inflation, increased demand for financial expertise, and evolving market conditions. This general growth pattern likely extends to Florence, SC, albeit potentially at a different pace influenced by local economic factors.
Financial Managers Salary Distribution in Florence, SC
Salary progression for Financial Managers in Florence, SC, typically scales significantly with experience. Entry-level positions will command lower salaries, while senior roles, requiring extensive expertise and strategic oversight, can reach substantially higher compensation levels. The percentile gaps in salary distribution underscore the clear career trajectory available, rewarding accumulated knowledge and proven leadership within the financial sector.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $72,190 | $34.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $113,025 | $54.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $130,380 | $62.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $188,375 | $90.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $226,050 | $108.7 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$150,700
Gross Pay
Real Wage (Purchasing Power)
$150,700
Adjusted for COL (100)
With an average salary of $150,700 and a Cost of Living Index of 100, the nominal salary in Florence, SC, directly aligns with the national average cost of living. This means that the purchasing power of a Financial Manager's salary in Florence is comparable to that of their counterparts in a national average cost-of-living area, offering a stable financial foundation.
Job Market Context
290
Total Jobs
3.213
Per 1K Jobs
0.61
Location Quotient
Florence, SC has 0.61x 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.
The Location Quotient of 0.61 for Financial Managers in Florence, SC, suggests that the job market is less concentrated than the national average. This indicates that while the profession is present, it is not a dominant industry sector. Consequently, the market may be less competitive in terms of the sheer number of available positions but could also mean fewer specialized opportunities compared to larger, more finance-centric regions.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Sumter, SC Financial Managers Salary | $148,330↓ 2% | 38 mi |
| Myrtle Beach-Conway-North Myrtle Beach, SC Financial Managers Salary | $138,360↓ 8% | 61 mi |
| Columbia, SC Financial Managers Salary | $134,420↓ 11% | 64 mi |
| Northwestern South Carolina nonmetropolitan area Financial Managers Salary | $134,860↓ 11% | 70 mi |
| Northeastern South Carolina nonmetropolitan area Financial Managers Salary | $130,190↓ 14% | 70 mi |
Comparing salaries near Florence, SC
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Florence, SC?
The median annual salary for a Financial Managers in Florence, SC is $150,700. This typically ranges from $72,190 for entry-level positions to $226,050 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Florence, SC is 18.3% lower than the national median of $184,480.
Is Florence, SC a lucrative place for Financial Managers?
No, not compared to the national average.The average salary of $150,700 is below the national average of $184,480, and the Location Quotient of 0.61 indicates lower concentration. However, the Cost of Living Index of 100 means purchasing power is on par with the national average.
Is Florence, SC a good place to live for Financial Managers?
The Cost of Living Index in Florence, SC is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Florence, SC?
Some top paying nearby cities include Sumter, SC ($148,330) and Myrtle Beach-Conway-North Myrtle Beach, SC.
How does the Florence, SC salary compare to the national average?
The average salary for Financial Managers in Florence, SC, is $150,700, which is lower than the national average of $184,480.
What is the Cost of Living in Florence, SC for Financial Managers?
Florence, SC, has a Cost of Living Index of 100, which is exactly the national average, meaning the cost of goods and services is comparable nationwide.
How concentrated is the Financial Manager job market in Florence, SC?
The job market is less concentrated than the national average, with a Location Quotient of 0.61, indicating fewer Financial Managers relative to the national proportion.
What is the total workforce size for Financial Managers in Florence, SC?
There are approximately 290 Financial Managers working in Florence, SC.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 290 employees in the Florence, SC area with a job density of 3.213 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
Explore Financial Managers Salaries by State
Top Jobs in Florence, SC
- All Occupations Salary in Florence, SC
- Office and Administrative Support Occupations Salary in Florence, SC
- Transportation and Material Moving Occupations Salary in Florence, SC
- Sales and Related Occupations Salary in Florence, SC
- Healthcare Practitioners and Technical Occupations Salary in Florence, SC
- Food Preparation and Serving Related Occupations Salary in Florence, SC
- Production Occupations Salary in Florence, SC
- Healthcare Support Occupations Salary in Florence, SC
- Management Occupations Salary in Florence, SC
- Educational Instruction and Library Occupations Salary in Florence, SC
- Browse All Jobs in Florence, SC →
Semantic Salary Analysis for Financial Managers • Data source: BLS OEWS 2024 •Jobs in Florence, SC