Average Financial Managers Salary in Jackson, MI
Financial Managers in Jackson, MI, can expect an average annual salary of $143,790. This figure is notably below the national average of $184,480, suggesting that local market dynamics and potentially a lower demand for specialized financial expertise in this specific region influence compensation. The economic landscape of Jackson, MI, therefore, plays a crucial role in shaping the earning potential for these finance professionals.
Executive Summary
- Average Salary: $143,790 per year.
- Growth Trend: Salaries have shifted 27.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $217,380.
- Outlook: The local workforce for Financial Managers in Jackson, MI, comprises approximately 220 professionals. With a Location Quotient of 0.74, the concentration of these roles is slightly below the national average, indicating a moderately developed but not saturated job market. The presence of nearly 4 Financial Manager jobs per 1,000 workers suggests a stable demand, though perhaps not explosive growth, within the Jackson area's economy.
Salary Overview
The average Financial Managers in Jackson, MI earns-22.1%below the national average.
$69.1
$2,765
$11,983
Financial Managers Salary Trends (2020-2024)
While specific historical data for Jackson, MI, is not provided, it is reasonable to assume that salaries for Financial Managers have experienced a gradual upward trend over the past four years, mirroring national economic patterns. This growth is typically driven by inflation, increasing demand for financial oversight, and the evolving complexity of financial regulations, all of which contribute to higher compensation expectations for experienced professionals.
Financial Managers Salary Distribution in Jackson, MI
The salary trajectory for Financial Managers in Jackson, MI, significantly scales with experience. Entry-level positions typically start at the lower end of the pay scale, while senior roles, requiring extensive expertise and strategic decision-making capabilities, command substantially higher compensation. The percentile gaps in earnings clearly signify the career progression and increased value brought by seasoned professionals in the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $74,010 | $35.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $107,843 | $51.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $130,340 | $62.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $179,738 | $86.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $217,380 | $104.5 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$143,790
Gross Pay
Real Wage (Purchasing Power)
$143,790
Adjusted for COL (100)
The average annual salary of $143,790 in Jackson, MI, 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 Jackson is equivalent to the national average, offering a stable financial environment without the premium often associated with higher cost-of-living areas.
Job Market Context
220
Total Jobs
3.944
Per 1K Jobs
0.74
Location Quotient
Jackson, MI has 0.74x 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 0.74, Jackson, MI, presents a market where Financial Managers are present but not overwhelmingly concentrated compared to national benchmarks. This suggests a competitive landscape where skilled professionals can find opportunities, but the slightly lower concentration might imply less intense competition for top talent than in major metropolitan hubs.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Lansing-East Lansing, MI Financial Managers Salary | $145,170↑ 1% | 34 mi |
| Ann Arbor, MI Financial Managers Salary | $162,830↑ 13% | 34 mi |
| Battle Creek, MI Financial Managers Salary | $157,310↑ 9% | 42 mi |
| Monroe, MI Financial Managers Salary | $156,880↑ 9% | 57 mi |
| Toledo, OH Financial Managers Salary | $139,910↓ 3% | 58 mi |
Comparing salaries near Jackson, MI
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Jackson, MI?
The median annual salary for a Financial Managers in Jackson, MI is $143,790. This typically ranges from $74,010 for entry-level positions to $217,380 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Jackson, MI is 22.1% lower than the national median of $184,480.
Is Jackson, MI a lucrative place for Financial Managers?
No, it is not as lucrative as the national average.While the average salary of $143,790 is substantial, it falls below the national average of $184,480. However, the cost of living is at the national average, meaning the salary offers equivalent purchasing power.
Is Jackson, MI a good place to live for Financial Managers?
The Cost of Living Index in Jackson, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Jackson, MI?
Some top paying nearby cities include Lansing-East Lansing, MI ($145,170) and Ann Arbor, MI.
How does the number of Financial Managers in Jackson, MI compare to the national average?
Jackson, MI has a slightly lower concentration of Financial Managers, indicated by a Location Quotient of 0.74, compared to the national average.
What is the job availability like for Financial Managers in Jackson, MI?
There are approximately 3.944 Financial Manager jobs per 1,000 workers in Jackson, MI, suggesting a steady but not exceptionally high level of job availability.
How does experience impact a Financial Manager's salary in Jackson, MI?
Experience significantly influences salary, with entry-level roles earning less and senior positions commanding higher pay, reflecting increased responsibility and expertise.
Is the cost of living in Jackson, MI a factor for Financial Managers?
The Cost of Living Index in Jackson, MI, is 100, which is the national average. This means the $143,790 salary offers purchasing power equivalent to the national average.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 220 employees in the Jackson, MI area with a job density of 3.944 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 Jackson, MI