Average Financial Managers Salary in Lower East Mississippi nonmetropolitan area
Financial Managers in the Lower East Mississippi nonmetropolitan area earn an average annual salary of $116,990. This figure is notably lower than the national average of $184,480, reflecting regional economic factors and the specific demand dynamics within this nonmetropolitan locale. The localized pay scale is intrinsically tied to the economic output and industry concentration of the area.
Executive Summary
- Average Salary: $116,990 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $175,670.
- Outlook: With a total local workforce of 430 Financial Managers, the job market in Lower East Mississippi presents a modest but stable environment. The Location Quotient of 0.66 suggests that this profession is less concentrated here than the national average, indicating a potentially less saturated but also less robust demand compared to more metropolitan regions. However, the presence of 3.495 jobs per 1,000 workers signifies a consistent, albeit not overwhelming, need for these financial professionals.
Salary Overview
The average Financial Managers in Lower East Mississippi nonmetropolitan area earns-36.6%below the national average.
$56.3
$2,250
$9,749
Financial Managers Salary Trends (2020-2024)
While specific historical data for the Lower East Mississippi nonmetropolitan area is not provided, it is generally assumed that salaries for Financial Managers nationwide have experienced steady growth over the past four years, driven by inflation and increasing complexity in financial operations. This upward trend is likely mirrored to some extent in this region, though potentially at a moderated pace due to its nonmetropolitan status.
Financial Managers Salary Distribution in Lower East Mississippi nonmetropolitan area
Salary progression for Financial Managers typically scales significantly with experience. Entry-level positions will command salaries at the lower end of the spectrum, while seasoned professionals with extensive experience and specialized skills can expect to earn considerably more, potentially reaching the higher percentiles. The widening gap between entry-level and senior-level salaries signifies clear opportunities for career advancement and increased earning potential within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $53,860 | $25.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $87,743 | $42.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $103,610 | $49.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $146,238 | $70.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $175,670 | $84.5 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$116,990
Gross Pay
Real Wage (Purchasing Power)
$116,990
Adjusted for COL (100)
The average annual salary of $116,990 in Lower East Mississippi 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 region is equivalent to the national average. While the nominal salary is lower than the national average for the role, the cost of living parity suggests that the take-home pay offers comparable economic stability to that experienced in higher-cost national areas.
Job Market Context
430
Total Jobs
3.495
Per 1K Jobs
0.66
Location Quotient
Lower East Mississippi nonmetropolitan area has 0.66x 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.
The Location Quotient of 0.66 for Financial Managers in the Lower East Mississippi nonmetropolitan area indicates that this profession is less concentrated than the national average. This suggests that the job market may be less competitive, potentially offering more opportunities for individuals seeking employment. However, it also implies that the overall demand might be lower compared to areas with a higher concentration of financial services.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Jackson, MS Financial Managers Salary | $132,100↑ 13% | 43 mi |
Comparing salaries near Lower East Mississippi nonmetropolitan area
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Lower East Mississippi nonmetropolitan area?
The median annual salary for a Financial Managers in Lower East Mississippi nonmetropolitan area is $116,990. This typically ranges from $53,860 for entry-level positions to $175,670 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Lower East Mississippi nonmetropolitan area is 36.6% lower than the national median of $184,480.
Is Lower East Mississippi nonmetropolitan area a lucrative place for Financial Managers?
No, it is not as lucrative as the national average.While the average salary of $116,990 is substantial, it falls significantly below the national average of $184,480 for Financial Managers. The cost of living being at the national average means the lower nominal salary translates to less disposable income compared to national benchmarks.
Is Lower East Mississippi nonmetropolitan area a good place to live for Financial Managers?
The Cost of Living Index in Lower East Mississippi nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Lower East Mississippi nonmetropolitan area?
Some top paying nearby cities include Jackson, MS ($132,100) and others.
How does the local workforce size affect job prospects for Financial Managers?
A local workforce of 430 Financial Managers suggests a moderate-sized professional community. While not as large as in metropolitan areas, it indicates a stable presence and ongoing need for these roles within the region's economy.
What does a Location Quotient of 0.66 mean for Financial Managers?
A Location Quotient of 0.66 signifies that Financial Managers are less concentrated in Lower East Mississippi compared to the national average. This could mean fewer job openings but potentially less competition for available positions.
How does the cost of living impact the Financial Manager salary in this area?
With a Cost of Living Index of 100, the $116,990 salary has the same purchasing power as the national average. This means that despite the lower nominal salary compared to the national average for the role, the cost of living does not diminish its relative value within the region.
Are there many Financial Manager jobs per 1,000 workers in Lower East Mississippi?
There are 3.495 Financial Manager jobs per 1,000 workers in this area. This rate indicates a steady, consistent demand for financial management professionals, though it is not exceptionally high compared to national benchmarks.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 430 employees in the Lower East Mississippi nonmetropolitan area area with a job density of 3.495 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 Lower East Mississippi nonmetropolitan area