Average Financial Managers Salary in Madison, WI
Financial Managers in Madison, WI, command an impressive average annual salary of $161,260. This figure, while slightly below the national average of $184,480, reflects a robust local economy and a significant concentration of finance-related industries within the state capital. The specific demand and compensation structure in Madison are influenced by its unique economic drivers and the presence of key businesses.
Executive Summary
- Average Salary: $161,260 per year.
- Growth Trend: Salaries have shifted 8.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $232,060.
- Outlook: With a local workforce of 2,010 Financial Managers and a Location Quotient of 0.93, Madison presents a stable, albeit slightly less concentrated, job market compared to the national average. This indicates a healthy demand for financial expertise, with approximately 4.958 jobs per 1,000 workers, suggesting a consistent need for skilled professionals in the region.
Salary Overview
The average Financial Managers in Madison, WI earns-12.6%below the national average.
$77.5
$3,101
$13,438
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it's reasonable to assume that the salary for Financial Managers in Madison, WI, has experienced steady growth over the past four years, mirroring national trends. Economic expansion, inflation, and increasing demand for sophisticated financial planning and analysis services typically drive upward salary adjustments in this sector.
Financial Managers Salary Distribution in Madison, WI
The salary trajectory for Financial Managers in Madison, WI, significantly escalates with experience. Entry-level positions might start in the lower percentiles, while seasoned professionals with extensive experience and specialized skills can command salaries well into the upper percentiles, reflecting the value of their strategic contributions and leadership.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $84,970 | $40.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $120,945 | $58.1 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $149,180 | $71.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $201,575 | $96.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $232,060 | $111.6 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$161,260
Gross Pay
Real Wage (Purchasing Power)
$161,260
Adjusted for COL (100)
The average annual salary of $161,260 in Madison, WI, is particularly attractive given the local Cost of Living Index is exactly at the national average of 100. This means that the purchasing power of a Financial Manager's salary in Madison is equivalent to the national standard, allowing for a comfortable lifestyle without the premium often associated with higher-than-average salaries in more expensive locales.
Job Market Context
2,010
Total Jobs
4.958
Per 1K Jobs
0.93
Location Quotient
Madison, WI has 0.93x 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 0.93 suggests that Madison, WI, has a financial management job market that is nearly on par with the national average in terms of concentration. While not exceeding the national benchmark, this indicates a balanced and competitive environment where opportunities exist, but the sheer volume of roles might be slightly less dense than in major financial hubs.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Janesville-Beloit, WI Financial Managers Salary | $156,050↓ 3% | 33 mi |
| Rockford, IL Financial Managers Salary | $141,750↓ 12% | 59 mi |
| Fond du Lac, WI Financial Managers Salary | $143,560↓ 11% | 68 mi |
| Milwaukee-Waukesha, WI Financial Managers Salary | $163,510↑ 1% | 72 mi |
| Oshkosh-Neenah, WI Financial Managers Salary | $159,260↓ 1% | 77 mi |
Comparing salaries near Madison, WI
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Madison, WI?
The median annual salary for a Financial Managers in Madison, WI is $161,260. This typically ranges from $84,970 for entry-level positions to $232,060 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Madison, WI is 12.6% lower than the national median of $184,480.
Is Madison, WI a lucrative place for Financial Managers?
Yes, Madison, WI offers a lucrative environment for Financial Managers.Financial Managers in Madison earn a substantial average salary of $161,260, which holds strong purchasing power due to a Cost of Living Index matching the national average.
Is Madison, WI a good place to live for Financial Managers?
The Cost of Living Index in Madison, WI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Madison, WI?
Some top paying nearby cities include Janesville-Beloit, WI ($156,050) and Rockford, IL.
How does Madison's Financial Manager salary compare to the national average?
The average salary for Financial Managers in Madison, WI, is $161,260, which is slightly lower than the national average of $184,480.
What is the concentration of Financial Managers in Madison, WI?
Madison, WI has a Location Quotient of 0.93 for Financial Managers, indicating a concentration that is very close to the national average.
How does the cost of living in Madison affect salary perception?
With a Cost of Living Index of 100, Madison's cost of living is equivalent to the national average, meaning the $161,260 salary offers standard purchasing power.
Are there many Financial Manager jobs in Madison, WI?
There are 2,010 Financial Managers in Madison, WI, with approximately 4.958 jobs per 1,000 workers, suggesting a solid presence in the local job market.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 2,010 employees in the Madison, WI area with a job density of 4.958 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
Explore Financial Managers Salaries by State
Top Jobs in Madison, WI
- All Occupations Salary in Madison, WI
- Office and Administrative Support Occupations Salary in Madison, WI
- Sales and Related Occupations Salary in Madison, WI
- Food Preparation and Serving Related Occupations Salary in Madison, WI
- Business and Financial Operations Occupations Salary in Madison, WI
- Transportation and Material Moving Occupations Salary in Madison, WI
- Healthcare Practitioners and Technical Occupations Salary in Madison, WI
- Educational Instruction and Library Occupations Salary in Madison, WI
- Production Occupations Salary in Madison, WI
- Management Occupations Salary in Madison, WI
- Browse All Jobs in Madison, WI →
Semantic Salary Analysis for Financial Managers • Data source: BLS OEWS 2024 •Jobs in Madison, WI