Average Financial Managers Salary in Nashville-Davidson--Murfreesboro--Franklin, TN
Financial Managers in the Nashville-Davidson--Murfreesboro--Franklin, TN area earn an average annual salary of $164,640. This figure is notably below the national average of $184,480, suggesting that while the region offers significant opportunities, compensation may be influenced by local economic factors and industry concentration. The specific pay scale in this metropolitan area is a direct reflection of the unique economic landscape and demand for financial expertise within Tennessee.
Executive Summary
- Average Salary: $164,640 per year.
- Growth Trend: Salaries have shifted 32.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $246,960.
- Outlook: The job market for Financial Managers in Nashville-Davidson--Murfreesboro--Franklin, TN appears robust, indicated by a total local workforce of 8,160 professionals. The Location Quotient of 1.4 signifies a higher concentration of these roles compared to the national average, suggesting strong and potentially growing demand for financial management talent within the region.
Salary Overview
The average Financial Managers in Nashville-Davidson--Murfreesboro--Franklin, TN earns-10.8%below the national average.
$79.2
$3,166
$13,720
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 growth over the past four years. This trend likely translates to a gradual increase in average salaries for Financial Managers in the Nashville metropolitan area, reflecting evolving market demands and the increasing complexity of financial operations.
Financial Managers Salary Distribution in Nashville-Davidson--Murfreesboro--Franklin, TN
Salary progression for Financial Managers in Nashville-Davidson--Murfreesboro--Franklin, TN is significantly influenced by experience. Entry-level positions typically command lower salaries, while seasoned professionals with extensive expertise and leadership responsibilities can expect to earn considerably more. The widening gap between lower and higher salary percentiles underscores the substantial career growth and earning potential available as one advances through senior-level roles.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $88,400 | $42.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $123,480 | $59.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $140,440 | $67.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $205,800 | $98.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $246,960 | $118.7 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$164,640
Gross Pay
Real Wage (Purchasing Power)
$164,640
Adjusted for COL (100)
With an average annual salary of $164,640 and a Cost of Living Index of 100 (matching the national average), Financial Managers in Nashville-Davidson--Murfreesboro--Franklin, TN can expect their nominal earnings to align closely with the typical cost of living nationwide. This means that the purchasing power of their salary is generally on par with the national standard, offering a stable financial environment for residents.
Job Market Context
8,160
Total Jobs
7.443
Per 1K Jobs
1.4
Location Quotient
With a location quotient of 1.40, Nashville-Davidson--Murfreesboro--Franklin, TN has a slightly higher-than-average concentration of Financial Managers roles compared to the national norm.
The Location Quotient of 1.4 for Financial Managers in Nashville-Davidson--Murfreesboro--Franklin, TN indicates a market that is 40% more concentrated than the national average. This suggests a competitive yet abundant job market, where demand for skilled financial professionals is higher relative to the national landscape, potentially leading to more opportunities and specialized roles within the region.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| East Tennessee nonmetropolitan area Financial Managers Salary | $132,070↓ 20% | 29 mi |
| South Central Tennessee nonmetropolitan area Financial Managers Salary | $130,680↓ 21% | 29 mi |
| West Tennessee nonmetropolitan area Financial Managers Salary | $123,350↓ 25% | 29 mi |
| North Central Tennessee nonmetropolitan area Financial Managers Salary | $119,790↓ 27% | 29 mi |
| Clarksville, TN-KY Financial Managers Salary | $136,720↓ 17% | 42 mi |
Comparing salaries near Nashville-Davidson--Murfreesboro--Franklin, TN
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Nashville-Davidson--Murfreesboro--Franklin, TN?
The median annual salary for a Financial Managers in Nashville-Davidson--Murfreesboro--Franklin, TN is $164,640. This typically ranges from $88,400 for entry-level positions to $246,960 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Nashville-Davidson--Murfreesboro--Franklin, TN is 10.8% lower than the national median of $184,480.
Is Nashville-Davidson--Murfreesboro--Franklin, TN a lucrative place for Financial Managerss?
Yes, with caveats.While the average salary of $164,640 is below the national average, the strong concentration of Financial Managers (LQ of 1.4) and a cost of living matching the national average suggest a stable and opportunity-rich environment.
Is Nashville-Davidson--Murfreesboro--Franklin, TN a good place to live for Financial Managers?
The Cost of Living Index in Nashville-Davidson--Murfreesboro--Franklin, TN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Nashville-Davidson--Murfreesboro--Franklin, TN?
Some top paying nearby cities include East Tennessee nonmetropolitan area ($132,070) and South Central Tennessee nonmetropolitan area.
How does the Nashville Financial Manager salary compare to the national average?
The average annual salary for Financial Managers in Nashville is $164,640, which is $20,000 less than the national average of $184,480.
What is the concentration of Financial Managers in the Nashville area?
The Nashville-Davidson--Murfreesboro--Franklin, TN area has a Location Quotient of 1.4 for Financial Managers, indicating a higher concentration of these professionals compared to the national average.
How does the cost of living in Nashville affect the Financial Manager salary?
Nashville's Cost of Living Index is 100, which is the national average. This means the $164,640 salary has purchasing power equivalent to the national average, making it a stable financial environment.
What is the total number of Financial Managers in the Nashville area?
There are approximately 8,160 Financial Managers employed in the Nashville-Davidson--Murfreesboro--Franklin, TN 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 8,160 employees in the Nashville-Davidson--Murfreesboro--Franklin, TN area with a job density of 7.443 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 Nashville-Davidson--Murfreesboro--Franklin, TN