Average Financial Managers Salary in Niles, MI
Financial Managers in Niles, MI, command an average annual salary of $131,630. This figure is notably below the national average of $184,480, suggesting localized economic factors and industry demand play a significant role in compensation within this Michigan locale. The specific economic landscape and the concentration of financial services firms in Niles directly influence this pay scale.
Executive Summary
- Average Salary: $131,630 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $207,320.
- Outlook: With a total local workforce of 230 Financial Managers, Niles, MI, presents a moderately sized employment pool. The Location Quotient of 0.72 indicates that this profession is slightly less concentrated here compared to the national average, suggesting a stable but not overly saturated market. The presence of 3.835 jobs per 1,000 workers further supports a consistent demand for these financial professionals.
Salary Overview
The average Financial Managers in Niles, MI earns-28.6%below the national average.
$63.3
$2,531
$10,969
Financial Managers Salary Trends (2020-2024)
While specific historical data for Niles, MI, is not provided, it is reasonable to assume that the financial management sector, like most professional fields, has experienced steady salary growth over the past four years. Economic recovery, inflation, and increasing demand for sophisticated financial planning likely contributed to an upward trend in compensation for Financial Managers nationwide, a trend that Niles would generally follow, albeit potentially at a different pace.
Financial Managers Salary Distribution in Niles, MI
The career trajectory for Financial Managers in Niles, MI, typically involves significant salary progression based on experience. Entry-level positions might start at a lower percentile, while seasoned professionals with extensive expertise and leadership responsibilities can command salaries well into the higher percentiles. The widening gap between entry-level and senior roles underscores the value placed on accumulated knowledge and proven financial acumen.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $73,700 | $35.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $98,723 | $47.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $125,490 | $60.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $164,538 | $79.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $207,320 | $99.7 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$131,630
Gross Pay
Real Wage (Purchasing Power)
$131,630
Adjusted for COL (100)
The average annual salary of $131,630 for Financial Managers in Niles, MI, 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 Niles is equivalent to that of a Financial Manager earning the national average in a typical U.S. city, offering a stable financial foundation without significant cost-of-living adjustments.
Job Market Context
230
Total Jobs
3.835
Per 1K Jobs
0.72
Location Quotient
Niles, MI has 0.72x 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 0.72 for Financial Managers in Niles, MI, indicates a slightly lower concentration of these roles compared to the national average. This suggests that while opportunities exist, the market may not be as intensely competitive as in major financial hubs. For professionals, this could mean a balanced job market with a steady demand for their skills, without the extreme competition often found in areas with a higher LQ.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| South Bend-Mishawaka, IN-MI Financial Managers Salary | $146,930↑ 12% | 11 mi |
| Elkhart-Goshen, IN Financial Managers Salary | $149,090↑ 13% | 18 mi |
| Michigan City-La Porte, IN Financial Managers Salary | $122,870↓ 7% | 33 mi |
| Kalamazoo-Portage, MI Financial Managers Salary | $154,370↑ 17% | 45 mi |
| Battle Creek, MI Financial Managers Salary | $157,310↑ 20% | 61 mi |
Comparing salaries near Niles, MI
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Niles, MI?
The median annual salary for a Financial Managers in Niles, MI is $131,630. This typically ranges from $73,700 for entry-level positions to $207,320 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Niles, MI is 28.6% lower than the national median of $184,480.
Is Niles, MI a lucrative place for Financial Managers?
Moderately lucrative, with salary matching cost of living.Financial Managers in Niles, MI, earn $131,630, which aligns with the national average cost of living. While below the national average salary, the compensation is competitive within the local context and offers stable purchasing power.
Is Niles, MI a good place to live for Financial Managers?
The Cost of Living Index in Niles, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Niles, MI?
Some top paying nearby cities include South Bend-Mishawaka, IN-MI ($146,930) and Elkhart-Goshen, IN.
How does the Niles, MI Financial Manager salary compare to the national average?
The average salary for Financial Managers in Niles, MI, is $131,630, which is lower than the national average of $184,480.
What is the job market like for Financial Managers in Niles, MI?
The job market is stable, with a Location Quotient of 0.72 indicating a slightly lower concentration than the national average, suggesting consistent demand without extreme competition.
Does the cost of living in Niles, MI affect the value of a Financial Manager's salary?
No, the Cost of Living Index in Niles, MI, is 100, matching the national average. This means the $131,630 salary has purchasing power equivalent to the national average.
How many Financial Managers are employed in Niles, MI?
There are approximately 230 Financial Managers employed in Niles, MI, representing 3.835 jobs per 1,000 workers in the local economy.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 230 employees in the Niles, MI area with a job density of 3.835 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 Niles, MI