Average Financial Managers Salary in Lexington-Fayette, KY
Financial Managers in Lexington-Fayette, KY, earn an average annual salary of $146,680. This figure is notably below the national average of $184,480, suggesting that local market dynamics and potentially a different industry focus influence compensation in this region. While the nominal salary is substantial, understanding its purchasing power relative to the cost of living is crucial.
Executive Summary
- Average Salary: $146,680 per year.
- Growth Trend: Salaries have shifted 23.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $225,830.
- Outlook: With a local workforce of 960 Financial Managers, Lexington-Fayette, KY, presents a moderate employment landscape for this profession. The Location Quotient of 0.64 indicates a lower concentration of these roles compared to the national average, suggesting that while opportunities exist, the market is not as saturated as in other major hubs. The rate of 3.387 jobs per 1,000 workers further contextualizes the demand within the local economy.
Salary Overview
The average Financial Managers in Lexington-Fayette, KY earns-20.5%below the national average.
$70.5
$2,821
$12,223
Financial Managers Salary Trends (2020-2024)
While specific historical data for Lexington-Fayette, KY, is not provided, it is reasonable to assume that salaries for Financial Managers have experienced growth over the past four years, mirroring national trends. Economic expansion, inflation, and increasing demand for sophisticated financial oversight likely contribute to upward pressure on compensation, even in regions with a lower concentration of these roles.
Financial Managers Salary Distribution in Lexington-Fayette, KY
Career progression for Financial Managers in Lexington-Fayette, KY, is typically marked by significant salary increases with experience. Entry-level positions might start considerably lower than the average, while seasoned professionals with extensive expertise and leadership responsibilities can command salaries well above the $146,680 mark. The widening gap between lower and higher salary percentiles reflects the value placed on specialized skills and proven track records.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $79,910 | $38.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $110,010 | $52.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $131,180 | $63.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $183,350 | $88.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $225,830 | $108.6 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$146,680
Gross Pay
Real Wage (Purchasing Power)
$146,680
Adjusted for COL (100)
The average annual salary of $146,680 in Lexington-Fayette, KY, 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 average. While the nominal salary is lower than the national average, the stable cost of living ensures that the take-home pay maintains its relative value.
Job Market Context
960
Total Jobs
3.387
Per 1K Jobs
0.64
Location Quotient
Lexington-Fayette, KY has 0.64x 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 0.64 for Financial Managers in Lexington-Fayette, KY, signifies that this profession is less concentrated locally than the national average. This suggests that the job market may be less competitive, potentially offering more opportunities for skilled professionals to secure positions. However, it also implies that the demand might not be as robust as in areas with a higher concentration, requiring a strategic approach to job searching.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Central Kentucky nonmetropolitan area Financial Managers Salary | $109,010↓ 26% | 28 mi |
| South Central Kentucky nonmetropolitan area Financial Managers Salary | $121,280↓ 17% | 28 mi |
| West Kentucky nonmetropolitan area Financial Managers Salary | $113,530↓ 23% | 28 mi |
| East Kentucky nonmetropolitan area Financial Managers Salary | $110,460↓ 25% | 28 mi |
| Louisville/Jefferson County, KY-IN Financial Managers Salary | $147,750↑ 1% | 72 mi |
Comparing salaries near Lexington-Fayette, KY
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Lexington-Fayette, KY?
The median annual salary for a Financial Managers in Lexington-Fayette, KY is $146,680. This typically ranges from $79,910 for entry-level positions to $225,830 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Lexington-Fayette, KY is 20.5% lower than the national median of $184,480.
Is Lexington-Fayette, KY a lucrative place for Financial Managers?
No, not compared to the national average.While the average salary of $146,680 is substantial, it falls below the national average of $184,480. However, the cost of living is at the national average, meaning the salary's purchasing power is equivalent.
Is Lexington-Fayette, KY a good place to live for Financial Managers?
The Cost of Living Index in Lexington-Fayette, KY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Lexington-Fayette, KY?
Some top paying nearby cities include Central Kentucky nonmetropolitan area ($109,010) and South Central Kentucky nonmetropolitan area.
How does the cost of living in Lexington-Fayette, KY affect Financial Manager salaries?
The cost of living in Lexington-Fayette, KY, is exactly at the national average (100). This means that the $146,680 average salary for Financial Managers has the same purchasing power as it would nationally, despite being lower than the national average salary figure.
What is the concentration of Financial Managers in Lexington-Fayette, KY?
The concentration, measured by the Location Quotient, is 0.64, which is below the national average of 1.0. This indicates that Financial Managers are less prevalent in Lexington-Fayette, KY, compared to the rest of the United States.
How many Financial Managers are there in Lexington-Fayette, KY?
There are approximately 960 Financial Managers employed in the Lexington-Fayette, KY, area, representing 3.387 jobs per 1,000 workers in the local economy.
Is it hard to find a Financial Manager job in Lexington-Fayette, KY?
With a Location Quotient below 1.0, the market is less concentrated, which could mean less competition. However, the lower concentration also suggests potentially fewer openings compared to national hubs, so job searching may require a targeted approach.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 960 employees in the Lexington-Fayette, KY area with a job density of 3.387 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 Lexington-Fayette, KY