Average Financial Managers Salary in Grand Forks, ND-MN
Financial Managers in Grand Forks, ND-MN earn an average annual salary of $149,170, which is notably below the national average of $184,480. This disparity can often be attributed to regional economic factors, industry concentration, and the overall demand for specialized financial expertise within the local market. While the national landscape offers higher compensation, Grand Forks presents a unique economic environment for these professionals.
Executive Summary
- Average Salary: $149,170 per year.
- Growth Trend: Salaries have shifted 15.2% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $237,150.
- Outlook: The Grand Forks, ND-MN market for Financial Managers is characterized by a modest workforce of 200 professionals and a Location Quotient of 0.72. This indicates a slightly lower concentration of these roles compared to the national average. While not a major hub for financial management, the presence of 3.825 jobs per 1,000 workers suggests a stable, albeit not rapidly expanding, demand for skilled financial leadership within the region's economy.
Salary Overview
The average Financial Managers in Grand Forks, ND-MN earns-19.1%below the national average.
$71.7
$2,869
$12,431
Financial Managers Salary Trends (2020-2024)
While specific historical data for Grand Forks is not provided, it is reasonable to assume that salaries for Financial Managers in the region have experienced growth over the past four years, mirroring national trends. Economic recovery, inflation, and increasing complexity in financial operations typically drive upward pressure on compensation for experienced professionals. This suggests a positive trajectory for earning potential, even if the absolute figures remain below national benchmarks.
Financial Managers Salary Distribution in Grand Forks, ND-MN
The salary range for Financial Managers in Grand Forks, ND-MN, like elsewhere, is significantly influenced by experience. Entry-level positions will command lower salaries, likely falling into the lower percentiles, while senior roles with extensive experience and proven track records will secure positions in the upper percentiles. The gap between these entry and senior level salaries signifies substantial career progression and increased earning potential as professionals develop their expertise and leadership capabilities.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $88,610 | $42.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $111,878 | $53.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $127,890 | $61.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $186,463 | $89.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $237,150 | $114 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$149,170
Gross Pay
Real Wage (Purchasing Power)
$149,170
Adjusted for COL (100)
The average annual salary of $149,170 for Financial Managers in Grand Forks, ND-MN aligns perfectly with the national average cost of living, indicated by an index of 100. This means that the purchasing power of the local salary is equivalent to the national average. Professionals relocating to Grand Forks can expect their earnings to cover expenses at a standard rate, without the added financial strain of a significantly higher cost of living, nor the benefit of a substantially lower one.
Job Market Context
200
Total Jobs
3.825
Per 1K Jobs
0.72
Location Quotient
Grand Forks, ND-MN has 0.72x 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.
With a Location Quotient of 0.72, the Grand Forks, ND-MN market for Financial Managers is less concentrated than the national average. This suggests that while there is a consistent need for these roles, the job market is not saturated. Professionals entering this market may find fewer direct competitors, but also potentially fewer opportunities compared to larger metropolitan areas with higher concentrations of financial services and corporate headquarters.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Fargo, ND-MN Financial Managers Salary | $157,500↑ 6% | 74 mi |
Comparing salaries near Grand Forks, ND-MN
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Grand Forks, ND-MN?
The median annual salary for a Financial Managers in Grand Forks, ND-MN is $149,170. This typically ranges from $88,610 for entry-level positions to $237,150 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Grand Forks, ND-MN is 19.1% lower than the national median of $184,480.
Is Grand Forks, ND-MN a lucrative place for Financial Managers?
No, not exceptionally lucrative compared to national standards.While the average salary of $149,170 is substantial, it falls significantly below the national average of $184,480. However, the cost of living being at the national average means the salary's purchasing power is standard.
Is Grand Forks, ND-MN a good place to live for Financial Managers?
The Cost of Living Index in Grand Forks, ND-MN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Grand Forks, ND-MN?
Some top paying nearby cities include Fargo, ND-MN ($157,500) and others.
How does the Grand Forks Financial Manager salary compare to the national average?
The average salary in Grand Forks ($149,170) is approximately 19% lower than the national average ($184,480).
What is the significance of the Location Quotient (LQ) for Financial Managers in Grand Forks?
An LQ of 0.72 indicates that Financial Managers are less concentrated in Grand Forks compared to the national average, suggesting a moderately sized but not dominant presence in the local job market.
Does the cost of living in Grand Forks affect the perceived value of the Financial Manager salary?
No, the cost of living index is 100, meaning it is exactly at the national average. Therefore, the $149,170 salary has average purchasing power locally.
How many Financial Managers are there in Grand Forks, ND-MN?
There are approximately 200 Financial Managers employed in the Grand Forks, ND-MN area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 200 employees in the Grand Forks, ND-MN area with a job density of 3.825 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 Grand Forks, ND-MN