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Average Financial Managers Salary in Memphis, TN-MS-AR

Financial Managers in the Memphis, TN-MS-AR metropolitan area earn an average annual salary of $158,220. 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 levels within this region.

Executive Summary

  • Average Salary: $158,220 per year.
  • Growth Trend: Salaries have shifted 35.1% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $237,330.
  • Outlook: With a local workforce of 3,110 Financial Managers and a Location Quotient of 0.94, the job market in Memphis indicates a presence that is nearly on par with the national average concentration. While not exceeding the national benchmark, this stable quotient suggests a consistent demand for financial management expertise, reflecting a healthy, albeit not rapidly expanding, sector within the region.
2024 Market Data

Salary Overview

$158,220

The average Financial Managers in Memphis, TN-MS-AR earns-14.2%below the national average.

BreakdownBased on 40h/week
Hourly

$76.1

Weekly

$3,043

Monthly

$13,185

Financial Managers Salary Distribution in Memphis, TN-MS-AR

The salary spectrum for Financial Managers in Memphis, as elsewhere, is heavily influenced by experience. Entry-level positions typically start at the lower percentiles, while seasoned professionals with extensive experience and specialized skills command salaries in the upper percentiles. The widening gap between entry-level and senior roles signifies substantial career progression and earning potential within the field.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$73,310$35.2
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$118,665$57.1
ManagerOversees team, compliance, and project delivery.50% (Median)$134,480$64.7
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$197,775$95.1
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$237,330$114.1

Detailed Financial Managers Market Analysis

Relocation Context

Nominal Salary

$158,220

Gross Pay

Real Wage (Purchasing Power)

$158,220

Adjusted for COL (100)

The average annual salary of $158,220 for Financial Managers in Memphis 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 Memphis is equivalent to that of a Financial Manager earning the national average in a location with a national average cost of living, offering a stable financial standing.

Job Market Context

3,110

Total Jobs

5.009

Per 1K Jobs

0.94

Location Quotient

Below Average

Memphis, TN-MS-AR has 0.94x 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 0.94 for Financial Managers in Memphis suggests that the concentration of these professionals in the area is slightly below the national average. This indicates a competitive market where demand is present but not overwhelmingly concentrated, offering opportunities for skilled professionals without the intense competition found in more saturated regions.

Nearby Job Markets

Nearby Cities for Financial Managers

CitySalaryDist.
Jonesboro, AR Financial Managers Salary$122,140↓ 23%64 mi
Jackson, TN Financial Managers Salary$126,340↓ 20%74 mi

Comparing salaries near Memphis, TN-MS-AR

Hiring Financial Managerss?

Frequently Asked Questions

How much does a Financial Managers make in Memphis, TN-MS-AR?

The median annual salary for a Financial Managers in Memphis, TN-MS-AR is $158,220. This typically ranges from $73,310 for entry-level positions to $237,330 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Memphis, TN-MS-AR is 14.2% lower than the national median of $184,480.

Is Memphis, TN-MS-AR a lucrative place for Financial Managers?

Yes, with caveats.While the average salary of $158,220 is below the national average, the cost of living in Memphis is also at the national average, making the nominal salary's purchasing power comparable. The stable job market indicates consistent opportunities.

Is Memphis, TN-MS-AR a good place to live for Financial Managers?

The Cost of Living Index in Memphis, TN-MS-AR is 100. While higher than average, this often correlates with higher wages.

Where are the highest paying cities near Memphis, TN-MS-AR?

Some top paying nearby cities include Jonesboro, AR ($122,140) and Jackson, TN.

How does Memphis compare to the national average salary for Financial Managers?

The average salary for Financial Managers in Memphis is $158,220, which is lower than the national average of $184,480.

What is the cost of living in Memphis for Financial Managers?

The Cost of Living Index in Memphis is 100, which is exactly the national average, meaning expenses are neither significantly higher nor lower than the typical US city.

How concentrated is the Financial Manager job market in Memphis?

The Location Quotient of 0.94 indicates that the concentration of Financial Managers in Memphis is slightly below the national average, suggesting a balanced job market.

How many Financial Managers work in the Memphis area?

There are approximately 3,110 Financial Managers employed within the Memphis, TN-MS-AR metropolitan area.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 3,110 employees in the Memphis, TN-MS-AR area with a job density of 5.009 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Financial Managers • Data source: BLS OEWS 2024 •Jobs in Memphis, TN-MS-AR