Average Financial Managers Salary in Lansing-East Lansing, MI
Financial Managers in Lansing-East Lansing, MI, earn an average annual salary of $145,170. This figure is notably below the national average of $184,480, suggesting that local market dynamics, such as industry demand and the cost of doing business, play a significant role in compensation within this metropolitan area.
Executive Summary
- Average Salary: $145,170 per year.
- Growth Trend: Salaries have shifted 18.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $217,690.
- Outlook: With a local workforce of 850 Financial Managers and a Location Quotient of 0.75, the job market in Lansing-East Lansing indicates a slightly lower concentration of these professionals compared to the national average. While not a hub, the presence of nearly 4 Financial Managers per 1,000 workers suggests a stable, albeit not rapidly expanding, demand for these critical roles.
Salary Overview
The average Financial Managers in Lansing-East Lansing, MI earns-21.3%below the national average.
$69.8
$2,792
$12,098
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that salaries for Financial Managers across the nation, including Lansing-East Lansing, have experienced steady growth over the past four years. This trend is typically driven by inflation, increasing complexity in financial regulations, and the growing need for strategic financial oversight in businesses of all sizes.
Financial Managers Salary Distribution in Lansing-East Lansing, MI
Career progression for Financial Managers in Lansing-East Lansing, as elsewhere, is marked by increasing earning potential with experience. Entry-level positions typically command salaries at the lower end of the pay scale, while senior roles, requiring extensive expertise and leadership, can significantly exceed the average. The percentile gaps in salary distributions clearly signify these opportunities for career advancement and higher compensation.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $81,460 | $39.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $108,878 | $52.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $130,930 | $62.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $181,463 | $87.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $217,690 | $104.7 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$145,170
Gross Pay
Real Wage (Purchasing Power)
$145,170
Adjusted for COL (100)
The average annual salary of $145,170 in Lansing-East Lansing 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 area is equivalent to the national average, offering a stable financial standing without the premium often associated with higher cost-of-living regions.
Job Market Context
850
Total Jobs
3.977
Per 1K Jobs
0.75
Location Quotient
Lansing-East Lansing, MI has 0.75x 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 0.75 suggests that Financial Managers are less concentrated in the Lansing-East Lansing area than the national average. This implies that while there is a consistent need for these professionals, the market is not saturated, potentially offering good opportunities for skilled individuals without facing intense competition from a high volume of peers.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Jackson, MI Financial Managers Salary | $143,790↓ 1% | 34 mi |
| Mid Michigan nonmetropolitan area Financial Managers Salary | $125,050↓ 14% | 42 mi |
| Southern Michigan nonmetropolitan area Financial Managers Salary | $140,670↓ 3% | 42 mi |
| Northern Michigan nonmetropolitan area Financial Managers Salary | $120,690↓ 17% | 42 mi |
| Upper Peninsula of Michigan nonmetropolitan area Financial Managers Salary | $118,280↓ 19% | 42 mi |
Comparing salaries near Lansing-East Lansing, MI
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Lansing-East Lansing, MI?
The median annual salary for a Financial Managers in Lansing-East Lansing, MI is $145,170. This typically ranges from $81,460 for entry-level positions to $217,690 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Lansing-East Lansing, MI is 21.3% lower than the national median of $184,480.
Is Lansing-East Lansing, MI a lucrative place for Financial Managers?
No, but it offers stable compensation.While the average salary of $145,170 is below the national average, the cost of living is also at the national average, making the nominal salary's purchasing power equivalent. The market is stable with moderate demand.
Is Lansing-East Lansing, MI a good place to live for Financial Managers?
The Cost of Living Index in Lansing-East Lansing, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Lansing-East Lansing, MI?
Some top paying nearby cities include Jackson, MI ($143,790) and Mid Michigan nonmetropolitan area.
How does the Lansing-East Lansing Financial Manager salary compare to the national average?
The average salary for Financial Managers in Lansing-East Lansing is $145,170, which is lower than the national average of $184,480.
What is the concentration of Financial Managers in Lansing-East Lansing compared to the rest of the US?
The Location Quotient of 0.75 indicates that Financial Managers are less concentrated in Lansing-East Lansing than the national average.
Does the cost of living affect the perceived value of a Financial Manager's salary in Lansing-East Lansing?
No, the cost of living in Lansing-East Lansing is exactly at the national average (100), meaning the $145,170 salary has the same purchasing power as the national average salary.
How many Financial Managers are there in the Lansing-East Lansing workforce?
There are approximately 850 Financial Managers in the Lansing-East Lansing local workforce, representing about 3.977 jobs per 1,000 workers.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 850 employees in the Lansing-East Lansing, MI area with a job density of 3.977 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 Lansing-East Lansing, MI