Average Financial Managers Salary in Lafayette-West Lafayette, IN
Financial Managers in Lafayette-West Lafayette, IN, command an average annual salary of $137,170. This figure is notably below the national average of $184,480, reflecting a localized market dynamic. Factors such as regional economic conditions, industry concentration, and the specific demand within the Lafayette-West Lafayette area contribute to this pay differential.
Executive Summary
- Average Salary: $137,170 per year.
- Growth Trend: Salaries have shifted 12.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $205,720.
- Outlook: The Lafayette-West Lafayette, IN, job market for Financial Managers shows a modest concentration, with a Location Quotient of 0.47, indicating a lower presence compared to the national average. The total local workforce of 250 professionals and 2.483 jobs per 1,000 workers suggests a stable, albeit not rapidly expanding, demand for these specialized roles within the region.
Salary Overview
The average Financial Managers in Lafayette-West Lafayette, IN earns-25.6%below the national average.
$66
$2,638
$11,431
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that the financial management sector has experienced consistent growth over the past four years. This trend likely translates to gradual salary increases for Financial Managers in Lafayette-West Lafayette, IN, driven by evolving industry needs and the increasing complexity of financial operations.
Financial Managers Salary Distribution in Lafayette-West Lafayette, IN
Salary progression for Financial Managers in Lafayette-West Lafayette, IN, is significantly influenced by experience. Entry-level positions typically start at lower percentiles, while seasoned professionals with extensive expertise and a proven track record can command salaries in the higher percentiles. The gap between these salary ranges signifies clear career advancement opportunities and the value placed on accumulated knowledge and leadership skills.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $79,620 | $38.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $102,878 | $49.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $127,130 | $61.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $171,463 | $82.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $205,720 | $98.9 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$137,170
Gross Pay
Real Wage (Purchasing Power)
$137,170
Adjusted for COL (100)
The average annual salary of $137,170 for Financial Managers in Lafayette-West Lafayette, IN, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of a Financial Manager's salary in this area is equivalent to the national standard, offering a balanced financial environment for residents.
Job Market Context
250
Total Jobs
2.483
Per 1K Jobs
0.47
Location Quotient
At 0.47x, Lafayette-West Lafayette, IN has a notably lower concentration of Financial Managers jobs than the national average. Opportunities in this area are relatively scarce for this profession.
With a Location Quotient of 0.47, the Lafayette-West Lafayette, IN, market for Financial Managers is less concentrated than the national average. This suggests that while opportunities exist, the competition might be less intense compared to major metropolitan hubs, potentially offering a more accessible entry point for qualified professionals seeking roles in this sector.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Kokomo, IN Financial Managers Salary | $153,750↑ 12% | 39 mi |
| Northern Indiana nonmetropolitan area Financial Managers Salary | $119,520↓ 13% | 50 mi |
| Southern Indiana nonmetropolitan area Financial Managers Salary | $123,280↓ 10% | 50 mi |
| Central Indiana nonmetropolitan area Financial Managers Salary | $137,860↑ 1% | 50 mi |
| Indianapolis-Carmel-Greenwood, IN Financial Managers Salary | $157,380↑ 15% | 57 mi |
Comparing salaries near Lafayette-West Lafayette, IN
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Lafayette-West Lafayette, IN?
The median annual salary for a Financial Managers in Lafayette-West Lafayette, IN is $137,170. This typically ranges from $79,620 for entry-level positions to $205,720 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Lafayette-West Lafayette, IN is 25.6% lower than the national median of $184,480.
Is Lafayette-West Lafayette, IN a lucrative place for Financial Managers?
No, it is not as lucrative as the national average.While the average salary of $137,170 is substantial, it falls below the national average of $184,480. However, the cost of living is also at the national average, providing good purchasing power.
Is Lafayette-West Lafayette, IN a good place to live for Financial Managers?
The Cost of Living Index in Lafayette-West Lafayette, IN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Lafayette-West Lafayette, IN?
Some top paying nearby cities include Kokomo, IN ($153,750) and Northern Indiana nonmetropolitan area.
How does the Lafayette-West Lafayette, IN salary compare to the national average?
The average salary for Financial Managers in Lafayette-West Lafayette, IN, is $137,170, which is lower than the national average of $184,480.
What is the Cost of Living in Lafayette-West Lafayette, IN?
The Cost of Living Index in Lafayette-West Lafayette, IN, is 100, which is exactly the national average.
How concentrated is the Financial Manager job market in Lafayette-West Lafayette, IN?
The job market is less concentrated than the national average, with a Location Quotient of 0.47, indicating fewer Financial Managers relative to the national proportion.
What is the total number of Financial Managers in Lafayette-West Lafayette, IN?
There are approximately 250 Financial Managers in the Lafayette-West Lafayette, IN, local workforce.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 250 employees in the Lafayette-West Lafayette, IN area with a job density of 2.483 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 Lafayette-West Lafayette, IN