Average Financial Managers Salary in Minneapolis-St. Paul-Bloomington, MN-WI
Financial Managers in the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area earn an average annual salary of $177,050. This figure is slightly below the national average of $184,480, suggesting a nuanced compensation landscape. Local economic factors and industry demand within the region likely contribute to this specific pay scale.
Executive Summary
- Average Salary: $177,050 per year.
- Growth Trend: Salaries have shifted 18.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $265,575.
- Outlook: With a substantial local workforce of 12,230 Financial Managers and a Location Quotient of 1.19, the Minneapolis-St. Paul-Bloomington area demonstrates a robust and slightly more concentrated demand for these professionals compared to the national average. This indicates a healthy job market with a notable presence of financial management roles.
Salary Overview
The average Financial Managers in Minneapolis-St. Paul-Bloomington, MN-WI earns-4.0%below the national average.
$85.1
$3,405
$14,754
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that the financial management sector has experienced steady salary growth over the past four years, driven by increasing economic complexity and the critical need for skilled financial oversight across industries. This upward trend is likely reflected in the Minneapolis-St. Paul-Bloomington market as well.
Financial Managers Salary Distribution in Minneapolis-St. Paul-Bloomington, MN-WI
Salary progression for Financial Managers is strongly tied to experience and demonstrated expertise. Entry-level positions typically command lower salaries, while seasoned professionals with extensive experience and specialized skills can command significantly higher compensation. The percentile distribution of salaries in Minneapolis-St. Paul-Bloomington, MN-WI would reflect these gaps, signifying clear career advancement opportunities.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $102,330 | $49.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $132,788 | $63.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $163,330 | $78.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $221,313 | $106.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $265,575 | $127.7 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$177,050
Gross Pay
Real Wage (Purchasing Power)
$177,050
Adjusted for COL (100)
The average annual salary of $177,050 in Minneapolis-St. Paul-Bloomington, MN-WI 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, offering a stable financial environment for residents.
Job Market Context
12,230
Total Jobs
6.33
Per 1K Jobs
1.19
Location Quotient
With a location quotient of 1.19, Minneapolis-St. Paul-Bloomington, MN-WI has a slightly higher-than-average concentration of Financial Managers roles compared to the national norm.
A Location Quotient of 1.19 signifies that Financial Managers are 19% more concentrated in the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area than the national average. This suggests a competitive yet accessible job market, where demand is slightly higher than the national benchmark, potentially offering more opportunities for qualified candidates.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Northwest Minnesota nonmetropolitan area Financial Managers Salary | $136,820↓ 23% | 58 mi |
| Southeast Minnesota nonmetropolitan area Financial Managers Salary | $148,670↓ 16% | 58 mi |
| Southwest Minnesota nonmetropolitan area Financial Managers Salary | $142,890↓ 19% | 58 mi |
| Northeast Minnesota nonmetropolitan area Financial Managers Salary | $129,020↓ 27% | 58 mi |
| St. Cloud, MN Financial Managers Salary | $152,310↓ 14% | 59 mi |
Comparing salaries near Minneapolis-St. Paul-Bloomington, MN-WI
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Minneapolis-St. Paul-Bloomington, MN-WI?
The median annual salary for a Financial Managers in Minneapolis-St. Paul-Bloomington, MN-WI is $177,050. This typically ranges from $102,330 for entry-level positions to $265,575 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Minneapolis-St. Paul-Bloomington, MN-WI is 4.0% lower than the national median of $184,480.
Is Minneapolis-St. Paul-Bloomington, MN-WI a lucrative place for Financial Managers?
Yes, with a stable cost of living.Financial Managers in this area earn a competitive $177,050, which holds strong purchasing power due to the national average cost of living.
Is Minneapolis-St. Paul-Bloomington, MN-WI a good place to live for Financial Managers?
The Cost of Living Index in Minneapolis-St. Paul-Bloomington, MN-WI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Minneapolis-St. Paul-Bloomington, MN-WI?
Some top paying nearby cities include Northwest Minnesota nonmetropolitan area ($136,820) and Southeast Minnesota nonmetropolitan area.
How does the Minneapolis-St. Paul-Bloomington salary compare to the national average?
The average salary of $177,050 is slightly below the national average of $184,480, indicating a minor difference in compensation.
What is the concentration of Financial Managers in this area?
The Location Quotient of 1.19 shows that Financial Managers are 19% more concentrated in Minneapolis-St. Paul-Bloomington than the national average.
How does the cost of living affect the salary?
With a Cost of Living Index of 100, the $177,050 salary offers purchasing power equivalent to the national average, making it financially stable.
What does the job market look like for Financial Managers here?
The market is robust with 12,230 Financial Managers employed locally and a higher-than-average concentration, suggesting good demand for the role.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 12,230 employees in the Minneapolis-St. Paul-Bloomington, MN-WI area with a job density of 6.33 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 Minneapolis-St. Paul-Bloomington, MN-WI