Average Financial Managers Salary in Northern Indiana nonmetropolitan area
Financial Managers in Northern Indiana's nonmetropolitan areas earn an average annual salary of $119,520. This figure is notably lower than the national average of $184,480, reflecting regional economic factors and a less concentrated demand for specialized financial expertise. The specific economic landscape and industry mix within this area contribute to the prevailing compensation levels.
Executive Summary
- Average Salary: $119,520 per year.
- Growth Trend: Salaries have shifted 12.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $184,640.
- Outlook: With a local workforce of 620 Financial Managers, the job market in Northern Indiana's nonmetropolitan areas presents a moderate level of activity. The Location Quotient of 0.55 indicates that this region has a lower concentration of these professionals compared to the national average, suggesting that while opportunities exist, they are not as abundant as in more metropolitan or industry-heavy areas.
Salary Overview
The average Financial Managers in Northern Indiana nonmetropolitan area earns-35.2%below the national average.
$57.5
$2,298
$9,960
Financial Managers Salary Trends (2020-2024)
While specific historical data for this precise region is not provided, it is generally assumed that salaries for Financial Managers across the nation, including nonmetropolitan areas, have experienced steady growth over the past four years. This trend is driven by increasing complexity in financial regulations, evolving business needs, and a persistent demand for skilled financial oversight.
Financial Managers Salary Distribution in Northern Indiana nonmetropolitan area
Compensation for Financial Managers typically scales significantly with experience. Entry-level positions will command lower salaries, while senior roles requiring extensive expertise, strategic decision-making capabilities, and leadership experience will see substantially higher earnings. The percentile gaps in salary distributions clearly signify the career progression and increased value associated with advancing through different levels of financial management.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $62,600 | $30.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $89,640 | $43.1 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $103,400 | $49.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $149,400 | $71.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $184,640 | $88.8 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$119,520
Gross Pay
Real Wage (Purchasing Power)
$119,520
Adjusted for COL (100)
The average annual salary of $119,520 in Northern Indiana's nonmetropolitan areas aligns perfectly with the national average Cost of Living Index of 100. This means that, on average, the purchasing power of a Financial Manager's salary in this region is equivalent to the national average, offering a stable financial standing relative to the cost of goods and services.
Job Market Context
620
Total Jobs
2.911
Per 1K Jobs
0.55
Location Quotient
Northern Indiana nonmetropolitan area has 0.55x 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 0.55 for Financial Managers in Northern Indiana's nonmetropolitan areas suggests that the job market is less concentrated than the national average. This indicates a potentially less competitive environment for job seekers, but also implies that the demand for these roles may be more specialized or tied to specific local industries, rather than a broad, widespread need.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Indianapolis-Carmel-Greenwood, IN Financial Managers Salary | $157,380↑ 32% | 8 mi |
| Kokomo, IN Financial Managers Salary | $153,750↑ 29% | 43 mi |
| Columbus, IN Financial Managers Salary | $150,120↑ 26% | 48 mi |
| Bloomington, IN Financial Managers Salary | $145,130↑ 21% | 49 mi |
| Lafayette-West Lafayette, IN Financial Managers Salary | $137,170↑ 15% | 50 mi |
Comparing salaries near Northern Indiana nonmetropolitan area
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Northern Indiana nonmetropolitan area?
The median annual salary for a Financial Managers in Northern Indiana nonmetropolitan area is $119,520. This typically ranges from $62,600 for entry-level positions to $184,640 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Northern Indiana nonmetropolitan area is 35.2% lower than the national median of $184,480.
Is Northern Indiana nonmetropolitan area a lucrative place for Financial Managers?
No, it is not as lucrative as the national average.While the average salary of $119,520 is substantial, it falls significantly below the national average of $184,480. However, the cost of living being at the national average means the salary's purchasing power is equivalent nationally.
Is Northern Indiana nonmetropolitan area a good place to live for Financial Managers?
The Cost of Living Index in Northern Indiana nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Northern Indiana nonmetropolitan area?
Some top paying nearby cities include Indianapolis-Carmel-Greenwood, IN ($157,380) and Kokomo, IN.
How does the local workforce size affect job opportunities?
A local workforce of 620 Financial Managers indicates a moderate presence, suggesting a stable but not rapidly expanding job market. Opportunities are likely consistent but may require specific industry alignment.
What does a Location Quotient of 0.55 mean for Financial Managers?
A Location Quotient below 1.0, like 0.55, signifies that Financial Managers are less concentrated in Northern Indiana's nonmetropolitan areas compared to the national average. This could mean fewer job openings but potentially less competition.
How does the Cost of Living Index impact the salary?
With a Cost of Living Index of 100, the $119,520 salary offers purchasing power equivalent to the national average. This means your earnings will stretch similarly to what they would elsewhere in the country, despite the lower nominal salary.
What is the job density for Financial Managers in this region?
There are approximately 2.911 Financial Managers per 1,000 workers in Northern Indiana's nonmetropolitan areas, indicating a moderate level of employment for this profession within 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 620 employees in the Northern Indiana nonmetropolitan area area with a job density of 2.911 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 Northern Indiana nonmetropolitan area