Average Financial Managers Salary in Hickory-Lenoir-Morganton, NC
Financial Managers in Hickory-Lenoir-Morganton, NC, earn an average annual salary of $153,920. This figure is notably below the national average of $184,480, reflecting regional economic factors and the specific demand dynamics within this metropolitan area. The local job market's unique characteristics directly influence compensation levels for these critical finance professionals.
Executive Summary
- Average Salary: $153,920 per year.
- Growth Trend: Salaries have shifted 21.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $238,080.
- Outlook: With a local workforce of 300 Financial Managers and a Location Quotient of 0.36, the job market in Hickory-Lenoir-Morganton, NC, indicates a below-average concentration of these professionals compared to the national landscape. While the total workforce size is modest, the lower concentration suggests that opportunities may be less abundant but potentially less competitive for those seeking to enter or advance within the field.
Salary Overview
The average Financial Managers in Hickory-Lenoir-Morganton, NC earns-16.6%below the national average.
$74
$2,960
$12,827
Financial Managers Salary Trends (2020-2024)
While specific historical data for Hickory-Lenoir-Morganton, NC is not provided, it is generally assumed that salaries for Financial Managers nationwide have experienced steady growth over the past four years, driven by inflation, increasing complexity in financial regulations, and a persistent demand for skilled professionals. This trend likely extends to the Hickory-Lenoir-Morganton area, with compensation adjustments reflecting both national economic movements and local market conditions.
Financial Managers Salary Distribution in Hickory-Lenoir-Morganton, NC
The salary progression for Financial Managers in Hickory-Lenoir-Morganton, NC, typically scales significantly with experience. Entry-level positions will command lower salaries, while senior roles, requiring extensive expertise and strategic oversight, will reach the higher end of the pay scale. The percentile gaps between junior and senior roles signify clear career progression pathways and the increasing value placed on seasoned financial leadership.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $80,810 | $38.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $115,440 | $55.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $132,480 | $63.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $192,400 | $92.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $238,080 | $114.5 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$153,920
Gross Pay
Real Wage (Purchasing Power)
$153,920
Adjusted for COL (100)
The average annual salary of $153,920 in Hickory-Lenoir-Morganton, NC, 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 region is equivalent to the national average, offering a stable financial environment for residents.
Job Market Context
300
Total Jobs
1.906
Per 1K Jobs
0.36
Location Quotient
At 0.36x, Hickory-Lenoir-Morganton, NC has a notably lower concentration of Financial Managers jobs than the national average. Opportunities in this area are relatively scarce for this profession.
The Location Quotient of 0.36 for Financial Managers in Hickory-Lenoir-Morganton, NC, signifies a market with a lower concentration of these roles compared to the national average. This suggests that while the demand might not be as robust as in larger metropolitan hubs, the job market is less saturated, potentially offering specialized opportunities for skilled professionals.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Charlotte-Concord-Gastonia, NC-SC Financial Managers Salary | $190,080↑ 23% | 45 mi |
| Spartanburg, SC Financial Managers Salary | $150,360↓ 2% | 65 mi |
| Winston-Salem, NC Financial Managers Salary | $160,230↑ 4% | 65 mi |
| Asheville, NC Financial Managers Salary | $155,040↑ 1% | 70 mi |
| Johnson City, TN Financial Managers Salary | $137,880↓ 10% | 72 mi |
Comparing salaries near Hickory-Lenoir-Morganton, NC
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Hickory-Lenoir-Morganton, NC?
The median annual salary for a Financial Managers in Hickory-Lenoir-Morganton, NC is $153,920. This typically ranges from $80,810 for entry-level positions to $238,080 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Hickory-Lenoir-Morganton, NC is 16.6% lower than the national median of $184,480.
Is Hickory-Lenoir-Morganton, NC a lucrative place for Financial Managers?
No, not exceptionally lucrative compared to the national average.While the average salary of $153,920 is substantial, it falls below the national average of $184,480. However, the cost of living being at the national average means the salary's purchasing power is equivalent nationally.
Is Hickory-Lenoir-Morganton, NC a good place to live for Financial Managers?
The Cost of Living Index in Hickory-Lenoir-Morganton, NC is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Hickory-Lenoir-Morganton, NC?
Some top paying nearby cities include Charlotte-Concord-Gastonia, NC-SC ($190,080) and Spartanburg, SC.
How does the number of Financial Managers in Hickory-Lenoir-Morganton compare nationally?
With only 1.906 Financial Managers per 1,000 workers, the concentration is significantly lower than the national average, indicating a less dense market for these professionals.
What is the significance of the Location Quotient (LQ) for Financial Managers in this area?
An LQ of 0.36 means that Financial Managers are less concentrated in Hickory-Lenoir-Morganton, NC, than the national average. This suggests fewer job opportunities relative to the overall workforce size compared to national trends.
Does experience impact salary for Financial Managers in Hickory-Lenoir-Morganton, NC?
Yes, experience is a key driver of salary. Entry-level positions will earn less, while senior Financial Managers with extensive experience and specialized skills can command significantly higher compensation within the local market.
How does the Cost of Living affect the Financial Manager salary in Hickory-Lenoir-Morganton, NC?
The Cost of Living Index is 100, which is the national average. This means the $153,920 salary offers purchasing power equivalent to the national average, making it a stable financial environment.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 300 employees in the Hickory-Lenoir-Morganton, NC area with a job density of 1.906 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 Hickory-Lenoir-Morganton, NC
- All Occupations Salary in Hickory-Lenoir-Morganton, NC
- Production Occupations Salary in Hickory-Lenoir-Morganton, NC
- Transportation and Material Moving Occupations Salary in Hickory-Lenoir-Morganton, NC
- Office and Administrative Support Occupations Salary in Hickory-Lenoir-Morganton, NC
- Sales and Related Occupations Salary in Hickory-Lenoir-Morganton, NC
- Food Preparation and Serving Related Occupations Salary in Hickory-Lenoir-Morganton, NC
- Healthcare Practitioners and Technical Occupations Salary in Hickory-Lenoir-Morganton, NC
- Educational Instruction and Library Occupations Salary in Hickory-Lenoir-Morganton, NC
- Healthcare Support Occupations Salary in Hickory-Lenoir-Morganton, NC
- Management Occupations Salary in Hickory-Lenoir-Morganton, NC
- Browse All Jobs in Hickory-Lenoir-Morganton, NC →
Semantic Salary Analysis for Financial Managers • Data source: BLS OEWS 2024 •Jobs in Hickory-Lenoir-Morganton, NC