Average Financial Managers Salary in Kalamazoo-Portage, MI
Financial Managers in Kalamazoo-Portage, MI, earn an average annual salary of $154,370. This figure is notably below the national average of $184,480, suggesting that local market dynamics, such as industry concentration and demand, play a significant role in compensation levels within this Michigan metropolitan area.
Executive Summary
- Average Salary: $154,370 per year.
- Growth Trend: Salaries have shifted 28.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $235,080.
- Outlook: With a local workforce of 500 Financial Managers and a Location Quotient of 0.78, the job market in Kalamazoo-Portage indicates a slightly lower concentration compared to the national average. While not a major hub for this profession, the presence of 4.138 jobs per 1,000 workers suggests a stable, albeit not rapidly expanding, demand for financial expertise within the region.
Salary Overview
The average Financial Managers in Kalamazoo-Portage, MI earns-16.3%below the national average.
$74.2
$2,969
$12,864
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Financial Managers in Kalamazoo-Portage have experienced growth over the past four years, mirroring national trends. Economic shifts and evolving industry needs typically drive incremental increases in compensation for specialized roles like financial management.
Financial Managers Salary Distribution in Kalamazoo-Portage, MI
The salary spectrum for Financial Managers in Kalamazoo-Portage, MI, naturally widens with experience. Entry-level positions typically command lower salaries, while senior roles, requiring extensive expertise and strategic oversight, can significantly exceed the average. The percentile gaps between junior and senior roles reflect the substantial career progression and earning potential available within this field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $81,940 | $39.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $115,778 | $55.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $131,790 | $63.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $192,963 | $92.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $235,080 | $113 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$154,370
Gross Pay
Real Wage (Purchasing Power)
$154,370
Adjusted for COL (100)
The average annual salary of $154,370 in Kalamazoo-Portage, 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 this location is equivalent to the national standard, offering a balanced lifestyle without the premium often associated with higher cost-of-living areas.
Job Market Context
500
Total Jobs
4.138
Per 1K Jobs
0.78
Location Quotient
Kalamazoo-Portage, MI has 0.78x 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 0.78 for Financial Managers in Kalamazoo-Portage, MI, signifies that the profession is slightly less concentrated here than the national average. This suggests that while opportunities exist, the market may be less saturated, potentially offering a competitive edge for skilled professionals seeking roles in this sector within the region.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Battle Creek, MI Financial Managers Salary | $157,310↑ 2% | 18 mi |
| Elkhart-Goshen, IN Financial Managers Salary | $149,090↓ 3% | 45 mi |
| Niles, MI Financial Managers Salary | $131,630↓ 15% | 45 mi |
| Grand Rapids-Wyoming-Kentwood, MI Financial Managers Salary | $145,200↓ 6% | 48 mi |
| South Bend-Mishawaka, IN-MI Financial Managers Salary | $146,930↓ 5% | 54 mi |
Comparing salaries near Kalamazoo-Portage, MI
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Kalamazoo-Portage, MI?
The median annual salary for a Financial Managers in Kalamazoo-Portage, MI is $154,370. This typically ranges from $81,940 for entry-level positions to $235,080 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Kalamazoo-Portage, MI is 16.3% lower than the national median of $184,480.
Is Kalamazoo-Portage, MI a lucrative place for Financial Managers?
No, not exceptionally lucrative compared to the national average.While the average salary of $154,370 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.
Is Kalamazoo-Portage, MI a good place to live for Financial Managers?
The Cost of Living Index in Kalamazoo-Portage, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Kalamazoo-Portage, MI?
Some top paying nearby cities include Battle Creek, MI ($157,310) and Elkhart-Goshen, IN.
How does the Kalamazoo-Portage salary compare to the national average?
The average annual salary for Financial Managers in Kalamazoo-Portage, MI is $154,370, which is $30,110 less than the national average of $184,480.
What is the cost of living in Kalamazoo-Portage, MI for Financial Managers?
The cost of living in Kalamazoo-Portage, MI is at the national average, indicated by an index of 100. This means that the purchasing power of the local salary is comparable to the national standard.
How concentrated is the Financial Manager job market in Kalamazoo-Portage, MI?
The job market for Financial Managers in Kalamazoo-Portage, MI, is slightly less concentrated than the national average, with a Location Quotient of 0.78.
What is the total number of Financial Managers in Kalamazoo-Portage, MI?
There are approximately 500 Financial Managers employed in the Kalamazoo-Portage, MI 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 500 employees in the Kalamazoo-Portage, MI area with a job density of 4.138 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 Kalamazoo-Portage, MI