Average Financial Managers Salary in Mid Michigan nonmetropolitan area
Financial Managers in the Mid Michigan nonmetropolitan area can expect an average annual salary of $125,050. This figure is notably lower than the national average of $184,480, reflecting the distinct economic landscape and demand drivers present in this region compared to larger metropolitan hubs.
Executive Summary
- Average Salary: $125,050 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $191,110.
- Outlook: With a local workforce of 500 Financial Managers, the job market in Mid Michigan presents a moderate concentration, indicated by a Location Quotient of 0.62. While not as densely populated with these professionals as the national average, the presence of 3.269 jobs per 1,000 workers suggests a stable and consistent demand for financial expertise within the area's economic structure.
Salary Overview
The average Financial Managers in Mid Michigan nonmetropolitan area earns-32.2%below the national average.
$60.1
$2,405
$10,421
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that salaries for Financial Managers in nonmetropolitan areas like Mid Michigan have experienced steady growth over the past four years. This trend is often driven by inflation, increasing demand for specialized financial skills, and the overall economic development within the region, aiming to keep local compensation competitive.
Financial Managers Salary Distribution in Mid Michigan nonmetropolitan area
Salary progression for Financial Managers in Mid Michigan typically correlates with experience. Entry-level positions will likely fall towards the lower end of the pay scale, while senior roles with extensive experience and proven leadership capabilities command higher compensation. The percentile gaps between these levels signify clear career advancement opportunities and the increasing value placed on seasoned financial professionals.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $70,380 | $33.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $93,788 | $45.1 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $111,160 | $53.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $156,313 | $75.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $191,110 | $91.9 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$125,050
Gross Pay
Real Wage (Purchasing Power)
$125,050
Adjusted for COL (100)
The average annual salary of $125,050 in Mid Michigan 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 that of someone earning the national average salary in a location with average living expenses, offering a balanced financial standing.
Job Market Context
500
Total Jobs
3.269
Per 1K Jobs
0.62
Location Quotient
Mid Michigan nonmetropolitan area has 0.62x 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 0.62 indicates that Financial Managers are less concentrated in the Mid Michigan nonmetropolitan area compared to the national average. This suggests that while the profession is present and necessary, the market is not saturated, potentially offering good opportunities for skilled professionals seeking employment without intense competition from a large pool of peers.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Midland, MI Financial Managers Salary | $196,360↑ 57% | 26 mi |
| Saginaw, MI Financial Managers Salary | $135,120↑ 8% | 30 mi |
| Bay City, MI Financial Managers Salary | $139,330↑ 11% | 37 mi |
| Lansing-East Lansing, MI Financial Managers Salary | $145,170↑ 16% | 42 mi |
| Flint, MI Financial Managers Salary | $144,060↑ 15% | 47 mi |
Comparing salaries near Mid Michigan nonmetropolitan area
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Mid Michigan nonmetropolitan area?
The median annual salary for a Financial Managers in Mid Michigan nonmetropolitan area is $125,050. This typically ranges from $70,380 for entry-level positions to $191,110 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Mid Michigan nonmetropolitan area is 32.2% lower than the national median of $184,480.
Is Mid Michigan nonmetropolitan area a lucrative place for Financial Managers?
Yes, with caveats.While the average salary of $125,050 is below the national average, the cost of living is also at the national average, providing good purchasing power. The lower concentration suggests potential opportunities for skilled professionals.
Is Mid Michigan nonmetropolitan area a good place to live for Financial Managers?
The Cost of Living Index in Mid Michigan nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Mid Michigan nonmetropolitan area?
Some top paying nearby cities include Midland, MI ($196,360) and Saginaw, MI.
How does the local workforce size affect job prospects?
A local workforce of 500 Financial Managers indicates a established presence, suggesting consistent demand and potential for career growth within the existing companies in the region.
What does a Location Quotient of 0.62 mean for Financial Managers?
A Location Quotient below 1.0 signifies that Financial Managers are less prevalent in Mid Michigan compared to the national average, implying a less competitive job market for these roles.
How does the Cost of Living Index impact the salary?
With a Cost of Living Index of 100, the $125,050 salary in Mid Michigan offers purchasing power equivalent to the national average, making it a financially stable region.
Are there many Financial Manager jobs per capita in Mid Michigan?
With 3.269 jobs per 1,000 workers, the rate of Financial Manager positions is moderate, indicating a steady but not overwhelmingly abundant job market for these professionals.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 500 employees in the Mid Michigan nonmetropolitan area area with a job density of 3.269 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 Mid Michigan nonmetropolitan area