Average Financial Managers Salary in Kiryas Joel-Poughkeepsie-Newburgh, NY
Financial Managers in the Kiryas Joel-Poughkeepsie-Newburgh, NY area earn an average annual salary of $178,880. This figure is slightly below the national average of $184,480, suggesting localized economic factors and demand play a role in compensation within this specific metropolitan region. The pay reflects the specialized skills and responsibilities inherent in financial management within this market.
Executive Summary
- Average Salary: $178,880 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $268,320.
- Outlook: With a total local workforce of 680 Financial Managers, the Kiryas Joel-Poughkeepsie-Newburgh, NY area demonstrates a stable, albeit not highly concentrated, presence of these professionals. The Location Quotient of 0.49 indicates that while the profession is present, it is less concentrated than the national average, suggesting a moderate demand and potential for growth for skilled individuals entering or advancing within this sector.
Salary Overview
The average Financial Managers in Kiryas Joel-Poughkeepsie-Newburgh, NY earns-3.0%below the national average.
$86
$3,440
$14,907
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that the financial management sector, like most professional fields, has experienced steady salary growth over the past four years. Factors such as inflation, evolving market demands, and increased complexity in financial regulations likely contribute to an upward trend in compensation for Financial Managers in the Kiryas Joel-Poughkeepsie-Newburgh, NY region.
Financial Managers Salary Distribution in Kiryas Joel-Poughkeepsie-Newburgh, NY
Salary progression for Financial Managers typically scales significantly with experience. Entry-level positions may start at a lower percentile, while seasoned professionals with extensive expertise and leadership capabilities can command salaries in the higher percentiles. The gap between entry-level and senior roles signifies substantial career growth opportunities and increased earning potential as one accumulates experience and demonstrates strategic financial acumen.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $85,520 | $41.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $134,160 | $64.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $159,370 | $76.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $223,600 | $107.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $268,320 | $129 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$178,880
Gross Pay
Real Wage (Purchasing Power)
$178,880
Adjusted for COL (100)
The average annual salary of $178,880 in Kiryas Joel-Poughkeepsie-Newburgh, NY aligns perfectly with the local 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 environment without the added pressure of higher living expenses.
Job Market Context
680
Total Jobs
2.584
Per 1K Jobs
0.49
Location Quotient
At 0.49x, Kiryas Joel-Poughkeepsie-Newburgh, NY has a notably lower concentration of Financial Managers jobs than the national average. Opportunities in this area are relatively scarce for this profession.
A Location Quotient of 0.49 for Financial Managers in Kiryas Joel-Poughkeepsie-Newburgh, NY indicates that this profession is less concentrated in this area compared to the national average. This suggests that while there is a market for Financial Managers, it may be less competitive than in more saturated regions, potentially offering good opportunities for those with specialized skills or seeking a less crowded professional landscape.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Kingston, NY Financial Managers Salary | $177,200↓ 1% | 42 mi |
| New York-Newark-Jersey City, NY-NJ Financial Managers Salary | $247,840↑ 39% | 44 mi |
| Bridgeport-Stamford-Danbury, CT Financial Managers Salary | $229,940↑ 29% | 51 mi |
| Waterbury-Shelton, CT Financial Managers Salary | $174,320↓ 3% | 60 mi |
| New Haven, CT Financial Managers Salary | $162,990↓ 9% | 64 mi |
Comparing salaries near Kiryas Joel-Poughkeepsie-Newburgh, NY
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Frequently Asked Questions
How much does a Financial Managers make in Kiryas Joel-Poughkeepsie-Newburgh, NY?
The median annual salary for a Financial Managers in Kiryas Joel-Poughkeepsie-Newburgh, NY is $178,880. This typically ranges from $85,520 for entry-level positions to $268,320 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Kiryas Joel-Poughkeepsie-Newburgh, NY is 3.0% lower than the national median of $184,480.
Is Kiryas Joel-Poughkeepsie-Newburgh, NY a lucrative place for Financial Managers?
Moderately. While the salary is slightly below the national average, the cost of living is also at the national average.The average salary of $178,880 is competitive, especially when considering the cost of living index is exactly at the national average. This indicates a stable financial standing for professionals in this role within the region.
Is Kiryas Joel-Poughkeepsie-Newburgh, NY a good place to live for Financial Managers?
The Cost of Living Index in Kiryas Joel-Poughkeepsie-Newburgh, NY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Kiryas Joel-Poughkeepsie-Newburgh, NY?
Some top paying nearby cities include Kingston, NY ($177,200) and New York-Newark-Jersey City, NY-NJ.
How does the local salary compare to the national average?
The average annual salary for Financial Managers in Kiryas Joel-Poughkeepsie-Newburgh, NY is $178,880, which is slightly lower than the national average of $184,480.
What is the concentration of Financial Managers in this area?
The concentration of Financial Managers in Kiryas Joel-Poughkeepsie-Newburgh, NY is indicated by a Location Quotient of 0.49, meaning it is less concentrated than the national average.
How does the cost of living affect the salary?
The cost of living in Kiryas Joel-Poughkeepsie-Newburgh, NY is at the national average (100), meaning the $178,880 salary has equivalent purchasing power to the national average salary.
What does the job market look like for Financial Managers here?
With 2.584 jobs per 1,000 workers and a total local workforce of 680, the market is stable but not highly saturated, suggesting moderate demand and potential opportunities.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 680 employees in the Kiryas Joel-Poughkeepsie-Newburgh, NY area with a job density of 2.584 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 Kiryas Joel-Poughkeepsie-Newburgh, NY