Average Financial Managers Salary in Hartford-West Hartford-East Hartford, CT
Financial Managers in Hartford-West Hartford-East Hartford, CT, earn an impressive average annual salary of $180,060. This figure is slightly below the national average of $184,480, but local economic factors and industry demand in the region contribute to this competitive compensation. The concentration of financial services and related industries in the area plays a significant role in shaping these salary levels.
Executive Summary
- Average Salary: $180,060 per year.
- Growth Trend: Salaries have shifted 17.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $270,090.
- Outlook: The Hartford-West Hartford-East Hartford, CT metropolitan area demonstrates a robust job market for Financial Managers, evidenced by a substantial local workforce of 7,740 individuals in this role. The Location Quotient of 2.46 indicates a significantly higher concentration of these professionals compared to the national average, suggesting strong and sustained demand within the region's economy.
Salary Overview
The average Financial Managers in Hartford-West Hartford-East Hartford, CT earns-2.4%below the national average.
$86.6
$3,463
$15,005
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Financial Managers in Hartford-West Hartford-East Hartford, CT have experienced steady growth over the past four years, mirroring national trends. Factors such as inflation, increasing complexity of financial regulations, and the demand for skilled financial leadership likely contribute to an upward trajectory in compensation for these vital roles.
Financial Managers Salary Distribution in Hartford-West Hartford-East Hartford, CT
Career progression for Financial Managers in Hartford-West Hartford-East Hartford, CT, is strongly correlated with experience. Entry-level positions typically command salaries at the lower end of the spectrum, while seasoned professionals with extensive expertise and leadership responsibilities can expect to earn significantly more, often reaching the upper percentiles. The widening gap between entry-level and senior salaries reflects the increasing value placed on specialized knowledge and strategic financial acumen.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $104,660 | $50.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $135,045 | $64.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $167,790 | $80.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $225,075 | $108.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $270,090 | $129.9 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$180,060
Gross Pay
Real Wage (Purchasing Power)
$180,060
Adjusted for COL (100)
The nominal average annual salary of $180,060 for Financial Managers in Hartford-West Hartford-East Hartford, CT, aligns perfectly with the local Cost of Living Index of 100, which is the national average. 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 environment without the premium often associated with higher cost-of-living regions.
Job Market Context
7,740
Total Jobs
13.066
Per 1K Jobs
2.46
Location Quotient
Hartford-West Hartford-East Hartford, CT has 2.5x the national concentration of Financial Managers jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
With a Location Quotient of 2.46, the Hartford-West Hartford-East Hartford, CT metropolitan area exhibits a highly concentrated presence of Financial Managers relative to the national average. This indicates a specialized and potentially competitive job market where employers actively seek out talent with specific financial expertise relevant to the region's dominant industries, suggesting a strong demand for these professionals.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Connecticut nonmetropolitan area Financial Managers Salary | $151,860↓ 16% | 12 mi |
| Waterbury-Shelton, CT Financial Managers Salary | $174,320↓ 3% | 23 mi |
| Springfield, MA Financial Managers Salary | $173,950↓ 3% | 25 mi |
| New Haven, CT Financial Managers Salary | $162,990↓ 9% | 34 mi |
| Norwich-New London-Willimantic, CT Financial Managers Salary | $161,340↓ 10% | 34 mi |
Comparing salaries near Hartford-West Hartford-East Hartford, CT
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Hartford-West Hartford-East Hartford, CT?
The median annual salary for a Financial Managers in Hartford-West Hartford-East Hartford, CT is $180,060. This typically ranges from $104,660 for entry-level positions to $270,090 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Hartford-West Hartford-East Hartford, CT is 2.4% lower than the national median of $184,480.
Is Hartford-West Hartford-East Hartford, CT a lucrative place for Financial Managers?
Yes, it is a highly lucrative place for Financial Managers.The area offers a strong average salary of $180,060, which, combined with a national average cost of living, provides excellent earning potential. Furthermore, the high concentration of Financial Managers (LQ of 2.46) signals robust demand and competitive compensation.
Is Hartford-West Hartford-East Hartford, CT a good place to live for Financial Managers?
The Cost of Living Index in Hartford-West Hartford-East Hartford, CT is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Hartford-West Hartford-East Hartford, CT?
Some top paying nearby cities include Connecticut nonmetropolitan area ($151,860) and Waterbury-Shelton, CT.
How does the Hartford Financial Manager salary compare to the national average?
The average annual salary for Financial Managers in Hartford-West Hartford-East Hartford, CT is $180,060, which is slightly lower than the national average of $184,480.
What is the cost of living in Hartford-West Hartford-East Hartford, CT for Financial Managers?
The cost of living in Hartford-West Hartford-East Hartford, CT is at the national average, with a Cost of Living Index of 100. This means that the $180,060 salary has the same purchasing power as the national average salary.
How concentrated are Financial Manager jobs in Hartford-West Hartford-East Hartford, CT?
Financial Manager jobs are highly concentrated in Hartford-West Hartford-East Hartford, CT, with a Location Quotient of 2.46, indicating more than double the national average presence of these roles.
What is the total number of Financial Managers in the Hartford-West Hartford-East Hartford, CT area?
There are approximately 7,740 Financial Managers employed in the Hartford-West Hartford-East Hartford, CT metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 7,740 employees in the Hartford-West Hartford-East Hartford, CT area with a job density of 13.066 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 Hartford-West Hartford-East Hartford, CT