Average Financial Managers Salary in Montgomery, AL
Financial Managers in Montgomery, AL, earn an average annual salary of $146,390. This figure is notably below the national average of $184,480, reflecting the specific economic landscape and industry demands within the Montgomery metropolitan area. Local market dynamics, including the concentration of specific industries and the overall demand for financial expertise, play a crucial role in shaping compensation levels.
Executive Summary
- Average Salary: $146,390 per year.
- Growth Trend: Salaries have shifted 20.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $224,740.
- Outlook: The Montgomery job market for Financial Managers, while not as concentrated as the national average with a Location Quotient of 0.68, supports a workforce of 590 professionals. The presence of 3.606 jobs per 1,000 workers indicates a steady, albeit not exceptionally high, demand for these roles. This suggests a stable environment for experienced professionals, with opportunities likely arising from established businesses and public sector entities within the region.
Salary Overview
The average Financial Managers in Montgomery, AL earns-20.6%below the national average.
$70.4
$2,815
$12,199
Financial Managers Salary Trends (2020-2024)
While specific historical data for Montgomery is not provided, it is reasonable to assume that salaries for Financial Managers in the area have experienced growth over the past four years, mirroring national trends. Economic expansion, inflation, and increasing complexity in financial regulations typically drive up compensation for skilled professionals in finance, suggesting a positive trajectory for earning potential in Montgomery.
Financial Managers Salary Distribution in Montgomery, AL
Salary progression for Financial Managers in Montgomery, AL, is significantly influenced by experience and specialization. Entry-level positions typically command salaries at the lower end of the spectrum, while senior roles requiring extensive expertise, leadership capabilities, and strategic financial planning can reach substantially higher figures. The percentile gaps in earnings clearly signify the career advancement and increased earning potential associated with accumulating years of experience and demonstrating a strong track record.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $93,500 | $45 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $109,793 | $52.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $133,100 | $64 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $182,988 | $88 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $224,740 | $108 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$146,390
Gross Pay
Real Wage (Purchasing Power)
$146,390
Adjusted for COL (100)
The average annual salary of $146,390 for Financial Managers in Montgomery, AL, aligns perfectly with the national average cost of living, indicated by an index of 100. This means that the purchasing power of a Financial Manager's salary in Montgomery is equivalent to the national average, offering a stable financial footing for residents without the added pressure of higher living expenses often found in more expensive metropolitan areas.
Job Market Context
590
Total Jobs
3.606
Per 1K Jobs
0.68
Location Quotient
Montgomery, AL has 0.68x 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.
With a Location Quotient of 0.68, Montgomery, AL, has a lower concentration of Financial Managers compared to the national average. This suggests that while the market is not saturated, the demand may be more specialized or tied to specific local industries. Professionals entering this market might find fewer direct competitors but will need to align their skills with the specific needs of Montgomery's economic base.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Northeast Alabama nonmetropolitan area Financial Managers Salary | $137,250↓ 6% | 44 mi |
| Southeast Alabama nonmetropolitan area Financial Managers Salary | $138,830↓ 5% | 44 mi |
| Northwest Alabama nonmetropolitan area Financial Managers Salary | $118,330↓ 19% | 44 mi |
| Southwest Alabama nonmetropolitan area Financial Managers Salary | $114,680↓ 22% | 44 mi |
| Auburn-Opelika, AL Financial Managers Salary | $138,130↓ 6% | 49 mi |
Comparing salaries near Montgomery, AL
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Montgomery, AL?
The median annual salary for a Financial Managers in Montgomery, AL is $146,390. This typically ranges from $93,500 for entry-level positions to $224,740 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Montgomery, AL is 20.6% lower than the national median of $184,480.
Is Montgomery, AL a lucrative place for Financial Managers?
No, not exceptionally lucrative compared to national averages.While the average salary of $146,390 is substantial, it falls below the national average of $184,480. However, the cost of living being at the national average offsets this difference, making the nominal salary's purchasing power comparable.
Is Montgomery, AL a good place to live for Financial Managers?
The Cost of Living Index in Montgomery, AL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Montgomery, AL?
Some top paying nearby cities include Northeast Alabama nonmetropolitan area ($137,250) and Southeast Alabama nonmetropolitan area.
How does Montgomery's Financial Manager salary compare to the national average?
The average salary in Montgomery, AL, is $146,390, which is lower than the national average of $184,480.
What is the cost of living in Montgomery, AL for Financial Managers?
The cost of living in Montgomery, AL, is exactly at the national average, with an index of 100.
How many Financial Managers work in Montgomery, AL?
There are approximately 590 Financial Managers employed in Montgomery, AL.
Is the job market for Financial Managers in Montgomery, AL competitive?
With a Location Quotient of 0.68, the market is less concentrated than the national average, suggesting moderate competition with specific industry demands.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 590 employees in the Montgomery, AL area with a job density of 3.606 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 Montgomery, AL