Average Financial Managers Salary in Hagerstown-Martinsburg, MD-WV
Financial Managers in the Hagerstown-Martinsburg, MD-WV area can expect an average annual salary of $136,240. This figure is notably below the national average of $184,480, suggesting that local market dynamics and potentially a different industry composition influence compensation in this region. The specific economic landscape of Hagerstown-Martinsburg plays a crucial role in shaping these salary benchmarks.
Executive Summary
- Average Salary: $136,240 per year.
- Growth Trend: Salaries have shifted 17.2% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $206,520.
- Outlook: The Hagerstown-Martinsburg area supports a local workforce of 350 Financial Managers. With a Location Quotient of 0.62, the concentration of these roles is below the national average, indicating a less saturated market compared to other regions. While the absolute number of professionals is moderate, the demand, reflected by 3.27 jobs per 1,000 workers, suggests a stable, albeit not booming, job market for financial leadership.
Salary Overview
The average Financial Managers in Hagerstown-Martinsburg, MD-WV earns-26.1%below the national average.
$65.5
$2,620
$11,353
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that salaries for Financial Managers across the nation, including in regions like Hagerstown-Martinsburg, have experienced consistent growth over the past four years. This upward trend is typically driven by inflation, increasing demand for financial expertise, and the evolving complexity of financial regulations and strategies.
Financial Managers Salary Distribution in Hagerstown-Martinsburg, MD-WV
Salary progression for Financial Managers in Hagerstown-Martinsburg, as elsewhere, is strongly tied to experience. Entry-level positions will command salaries at the lower end of the spectrum, while senior roles, requiring extensive expertise and strategic oversight, will reach significantly higher compensation levels. The percentile gaps between junior and senior roles highlight the substantial career growth and earning potential available within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $65,690 | $31.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $102,180 | $49.1 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $127,090 | $61.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $170,300 | $81.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $206,520 | $99.3 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$136,240
Gross Pay
Real Wage (Purchasing Power)
$136,240
Adjusted for COL (100)
The average annual salary of $136,240 in Hagerstown-Martinsburg 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 area is equivalent to the national average, offering a stable financial standing without the premium often associated with higher cost-of-living regions.
Job Market Context
350
Total Jobs
3.27
Per 1K Jobs
0.62
Location Quotient
Hagerstown-Martinsburg, MD-WV has 0.62x 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 0.62 indicates that Financial Managers are less concentrated in the Hagerstown-Martinsburg area compared to the national average. This suggests that while opportunities exist, the market is not oversaturated, potentially offering a competitive edge for skilled professionals. The job market is neither exceptionally abundant nor scarce, presenting a balanced environment for career advancement.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Chambersburg, PA Financial Managers Salary | $129,320↓ 5% | 20 mi |
| Gettysburg, PA Financial Managers Salary | $130,550↓ 4% | 29 mi |
| Winchester, VA-WV Financial Managers Salary | $158,340↑ 16% | 40 mi |
| York-Hanover, PA Financial Managers Salary | $148,060↑ 9% | 57 mi |
| Harrisburg-Carlisle, PA Financial Managers Salary | $148,160↑ 9% | 62 mi |
Comparing salaries near Hagerstown-Martinsburg, MD-WV
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Hagerstown-Martinsburg, MD-WV?
The median annual salary for a Financial Managers in Hagerstown-Martinsburg, MD-WV is $136,240. This typically ranges from $65,690 for entry-level positions to $206,520 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Hagerstown-Martinsburg, MD-WV is 26.1% lower than the national median of $184,480.
Is Hagerstown-Martinsburg, MD-WV a lucrative place for Financial Managers?
No, not exceptionally lucrative compared to national averages.While the average salary of $136,240 is substantial, it falls below the national average of $184,480. However, the cost of living being at the national average provides good purchasing power for the salary offered.
Is Hagerstown-Martinsburg, MD-WV a good place to live for Financial Managers?
The Cost of Living Index in Hagerstown-Martinsburg, MD-WV is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Hagerstown-Martinsburg, MD-WV?
Some top paying nearby cities include Chambersburg, PA ($129,320) and Gettysburg, PA.
How does the Hagerstown-Martinsburg salary compare to the national average?
The average salary for Financial Managers in Hagerstown-Martinsburg is $136,240, which is lower than the national average of $184,480.
What is the cost of living in Hagerstown-Martinsburg relative to the national average?
The Cost of Living Index in Hagerstown-Martinsburg is 100, which is exactly the national average, indicating a balanced cost of living.
How concentrated is the Financial Manager job market in Hagerstown-Martinsburg?
The concentration of Financial Managers is below the national average, with a Location Quotient of 0.62, suggesting a less competitive market than the national norm.
What is the total number of Financial Managers in the Hagerstown-Martinsburg workforce?
There are approximately 350 Financial Managers employed within the Hagerstown-Martinsburg local workforce.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 350 employees in the Hagerstown-Martinsburg, MD-WV area with a job density of 3.27 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 Hagerstown-Martinsburg, MD-WV