Average Financial Managers Salary in Lynchburg, VA
Financial Managers in Lynchburg, VA, can expect an average annual salary of $159,490. This figure is notably below the national average of $184,480, suggesting that local market dynamics, such as industry concentration and demand, play a significant role in compensation levels within this Virginia city.
Executive Summary
- Average Salary: $159,490 per year.
- Growth Trend: Salaries have shifted 33.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $239,235.
- Outlook: The Lynchburg, VA, job market for Financial Managers shows a moderate level of concentration, with a Location Quotient of 0.49, indicating a less dense presence compared to the national average. The local workforce of 250 Financial Managers, coupled with 2.605 jobs per 1,000 workers, suggests a stable but not rapidly expanding demand for these professionals in the region.
Salary Overview
The average Financial Managers in Lynchburg, VA earns-13.5%below the national average.
$76.7
$3,067
$13,291
Financial Managers Salary Trends (2020-2024)
While specific historical data for Lynchburg is not provided, it is generally assumed that the financial management sector, like many professional fields, has experienced consistent salary growth over the past four years. This trend is typically driven by inflation, increasing demand for financial expertise, and the evolving complexity of financial regulations and markets.
Financial Managers Salary Distribution in Lynchburg, VA
Salary progression for Financial Managers in Lynchburg, VA, is strongly tied to experience. Entry-level positions typically command salaries at the lower end of the spectrum, while seasoned professionals with extensive experience and specialized skills can achieve significantly higher earnings, often reaching the upper percentiles of the salary range. These percentile gaps clearly signify the career advancement opportunities available.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $85,070 | $40.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $119,618 | $57.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $143,730 | $69.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $199,363 | $95.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $239,235 | $115 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$159,490
Gross Pay
Real Wage (Purchasing Power)
$159,490
Adjusted for COL (100)
The nominal average salary of $159,490 for Financial Managers in Lynchburg, VA, aligns perfectly with the national average cost of living, which is indexed at 100. This means that the purchasing power of a Financial Manager's salary in Lynchburg is equivalent to that of a Financial Manager earning the national average in a location with a national average cost of living.
Job Market Context
250
Total Jobs
2.605
Per 1K Jobs
0.49
Location Quotient
At 0.49x, Lynchburg, VA 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 0.49, the market for Financial Managers in Lynchburg, VA, is less concentrated than the national average. This suggests that while opportunities exist, the field may be less competitive in terms of the sheer number of professionals vying for positions, potentially offering a more accessible entry point for skilled individuals compared to highly saturated markets.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Roanoke, VA Financial Managers Salary | $161,600↑ 1% | 43 mi |
| Staunton-Stuarts Draft, VA Financial Managers Salary | $151,120↓ 5% | 53 mi |
| Charlottesville, VA Financial Managers Salary | $177,360↑ 11% | 59 mi |
| Southside Virginia nonmetropolitan area Financial Managers Salary | $129,530↓ 19% | 61 mi |
| Northern West Virginia nonmetropolitan area Financial Managers Salary | $101,900↓ 36% | 61 mi |
Comparing salaries near Lynchburg, VA
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Lynchburg, VA?
The median annual salary for a Financial Managers in Lynchburg, VA is $159,490. This typically ranges from $85,070 for entry-level positions to $239,235 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Lynchburg, VA is 13.5% lower than the national median of $184,480.
Is Lynchburg, VA a lucrative place for Financial Managers?
No, not when compared to the national average.While the average salary of $159,490 is substantial, it falls below the national average of $184,480, indicating less lucrative compensation locally.
Is Lynchburg, VA a good place to live for Financial Managers?
The Cost of Living Index in Lynchburg, VA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Lynchburg, VA?
Some top paying nearby cities include Roanoke, VA ($161,600) and Staunton-Stuarts Draft, VA.
How does Lynchburg's cost of living affect a Financial Manager's salary?
Lynchburg's cost of living index is exactly at the national average (100), meaning the $159,490 salary provides purchasing power equivalent to the national average salary in a national average cost of living area.
What is the concentration of Financial Managers in Lynchburg?
The concentration, measured by the Location Quotient, is 0.49, which is less than half the national average, indicating fewer Financial Managers per worker in Lynchburg compared to the rest of the country.
How many Financial Managers are there in Lynchburg?
There are approximately 250 Financial Managers working in Lynchburg, VA, representing a small but established segment of the local professional workforce.
Are there many job openings for Financial Managers in Lynchburg?
With 2.605 jobs per 1,000 workers, the rate of Financial Manager positions is present but not exceptionally high, suggesting a steady but not booming job market for these roles.
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 Lynchburg, VA area with a job density of 2.605 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 Lynchburg, VA