Average Financial Managers Salary in Knoxville, TN
Financial Managers in Knoxville, TN, earn an average annual salary of $154,390. This figure is notably below the national average of $184,480, reflecting localized economic factors and industry demand within the region. While Knoxville presents a competitive landscape, understanding these regional nuances is key for financial professionals.
Executive Summary
- Average Salary: $154,390 per year.
- Growth Trend: Salaries have shifted 49.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $231,585.
- Outlook: With a local workforce of 2,010 Financial Managers, Knoxville demonstrates a stable presence in this sector. The Location Quotient of 0.91 suggests that the concentration of these roles is slightly below the national average, indicating a balanced but not oversaturated market. The rate of 4.818 jobs per 1,000 workers further supports a consistent demand for financial expertise within the city.
Salary Overview
The average Financial Managers in Knoxville, TN earns-16.3%below the national average.
$74.2
$2,969
$12,866
Financial Managers Salary Trends (2020-2024)
While specific historical data for Knoxville's Financial Manager salaries over the past four years is not provided, it is generally assumed that compensation in this field has seen a steady upward trend, mirroring national patterns. Economic growth and evolving financial landscapes typically drive salary increases, suggesting that professionals in Knoxville have likely experienced incremental gains in their earning potential over time.
Financial Managers Salary Distribution in Knoxville, TN
The salary spectrum for Financial Managers in Knoxville, as in most markets, is significantly influenced by experience. Entry-level positions typically command salaries at the lower end of the pay scale, while senior roles with extensive experience and proven track records can reach substantially higher figures. The percentile gaps between these levels highlight clear opportunities for career progression and increased earning potential within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $79,050 | $38 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $115,793 | $55.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $131,930 | $63.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $192,988 | $92.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $231,585 | $111.3 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$154,390
Gross Pay
Real Wage (Purchasing Power)
$154,390
Adjusted for COL (100)
The average annual salary of $154,390 in Knoxville 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 Knoxville is equivalent to the national average, offering a stable financial environment for residents. Your nominal earnings will translate directly to the expected cost of goods and services in the area.
Job Market Context
2,010
Total Jobs
4.818
Per 1K Jobs
0.91
Location Quotient
Knoxville, TN has 0.91x 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 0.91 for Financial Managers in Knoxville indicates that the industry's presence is slightly less concentrated than the national average. This suggests that while the market is not as densely populated with these professionals as some major hubs, there is still a solid demand. It presents an opportunity for skilled individuals to find a niche without facing extreme competition.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Morristown, TN Financial Managers Salary | $133,060↓ 14% | 40 mi |
| Cleveland, TN Financial Managers Salary | $141,550↓ 8% | 75 mi |
| Asheville, NC Financial Managers Salary | $155,040↑ 0% | 83 mi |
| Kingsport-Bristol, TN-VA Financial Managers Salary | $142,950↓ 7% | 87 mi |
| Johnson City, TN Financial Managers Salary | $137,880↓ 11% | 91 mi |
Comparing salaries near Knoxville, TN
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Knoxville, TN?
The median annual salary for a Financial Managers in Knoxville, TN is $154,390. This typically ranges from $79,050 for entry-level positions to $231,585 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Knoxville, TN is 16.3% lower than the national median of $184,480.
Is Knoxville, TN a lucrative place for Financial Managers?
Yes, with caveats.Knoxville offers a stable job market for Financial Managers with a cost of living at the national average. While salaries are below the national average, the strong local workforce and consistent job availability present good opportunities.
Is Knoxville, TN a good place to live for Financial Managers?
The Cost of Living Index in Knoxville, TN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Knoxville, TN?
Some top paying nearby cities include Morristown, TN ($133,060) and Cleveland, TN.
How does Knoxville's Financial Manager salary compare to the national average?
Financial Managers in Knoxville earn an average of $154,390 annually, which is approximately $30,000 less than the national average of $184,480.
What is the concentration of Financial Managers in Knoxville?
Knoxville has a Location Quotient of 0.91 for Financial Managers, indicating a slightly lower concentration compared to the national average.
How does the cost of living in Knoxville affect salary perception?
With a Cost of Living Index of 100, Knoxville's living expenses are on par with the national average. This means the $154,390 salary has equivalent purchasing power to the national average salary.
What is the total number of Financial Managers in Knoxville?
There are approximately 2,010 Financial Managers employed in the Knoxville, TN area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 2,010 employees in the Knoxville, TN area with a job density of 4.818 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 Knoxville, TN