Average Financial Managers Salary in Northwest Illinois nonmetropolitan area
Financial Managers in the Northwest Illinois nonmetropolitan area can expect an average annual salary of $134,200. This figure is notably below the national average of $184,480, suggesting that regional economic factors and industry concentration play a significant role in compensation within this specific locale.
Executive Summary
- Average Salary: $134,200 per year.
- Growth Trend: Salaries have shifted 30.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $208,130.
- Outlook: The job market for Financial Managers in Northwest Illinois appears stable, with a total local workforce of 660 individuals in this role. The Location Quotient of 0.97 indicates a concentration of Financial Managers that is very close to the national average, suggesting a consistent, albeit not exceptionally high, demand for these professionals within the region.
Salary Overview
The average Financial Managers in Northwest Illinois nonmetropolitan area earns-27.3%below the national average.
$64.5
$2,581
$11,183
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that Financial Manager salaries in Northwest Illinois have experienced gradual growth over the past four years, mirroring national trends. Economic expansion, inflation, and increasing demand for sophisticated financial oversight likely contribute to a steady upward trajectory in compensation for experienced professionals in this field.
Financial Managers Salary Distribution in Northwest Illinois nonmetropolitan area
Salary progression for Financial Managers in Northwest Illinois typically scales with experience. Entry-level positions may start at a lower percentile, while senior roles with extensive responsibilities and proven track records command higher salaries. The widening gap between the lower and upper salary percentiles signifies clear opportunities for career advancement and increased earning potential as professionals gain expertise.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $76,360 | $36.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $100,650 | $48.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $121,910 | $58.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $167,750 | $80.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $208,130 | $100.1 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$134,200
Gross Pay
Real Wage (Purchasing Power)
$134,200
Adjusted for COL (100)
The average annual salary of $134,200 in Northwest Illinois aligns perfectly with the national average cost of living, as indicated by the 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 balanced financial landscape for residents.
Job Market Context
660
Total Jobs
5.168
Per 1K Jobs
0.97
Location Quotient
Northwest Illinois nonmetropolitan area has 0.97x 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 0.97, the job market for Financial Managers in Northwest Illinois is nearly on par with the national average in terms of professional concentration. This suggests a balanced supply and demand dynamic; the market is neither oversaturated nor experiencing a significant shortage of financial management talent, offering a competitive yet accessible environment for job seekers.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Bloomington, IL Financial Managers Salary | $171,640↑ 28% | 9 mi |
| Decatur, IL Financial Managers Salary | $135,350↑ 1% | 34 mi |
| Champaign-Urbana, IL Financial Managers Salary | $135,120↑ 1% | 41 mi |
| Peoria, IL Financial Managers Salary | $153,220↑ 14% | 43 mi |
| Springfield, IL Financial Managers Salary | $147,470↑ 10% | 53 mi |
Comparing salaries near Northwest Illinois nonmetropolitan area
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Northwest Illinois nonmetropolitan area?
The median annual salary for a Financial Managers in Northwest Illinois nonmetropolitan area is $134,200. This typically ranges from $76,360 for entry-level positions to $208,130 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Northwest Illinois nonmetropolitan area is 27.3% lower than the national median of $184,480.
Is Northwest Illinois nonmetropolitan area a lucrative place for Financial Managers?
No, not exceptionally lucrative compared to the national average.While the average salary of $134,200 is substantial, it falls significantly short of the national average. However, the cost of living is also at the national average, making the salary's purchasing power comparable.
Is Northwest Illinois nonmetropolitan area a good place to live for Financial Managers?
The Cost of Living Index in Northwest Illinois nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Northwest Illinois nonmetropolitan area?
Some top paying nearby cities include Bloomington, IL ($171,640) and Decatur, IL.
How does the number of Financial Managers in Northwest Illinois compare to the national average?
Northwest Illinois has 5.168 Financial Managers per 1,000 workers, which is very close to the national average, indicating a similar level of concentration for this profession.
What is the total number of Financial Managers employed in Northwest Illinois?
There are approximately 660 Financial Managers employed in the Northwest Illinois nonmetropolitan area.
Does the cost of living affect the perceived value of a Financial Manager's salary in Northwest Illinois?
No, the cost of living in Northwest Illinois is exactly at the national average (100), meaning the $134,200 salary has the same purchasing power as it would nationally.
Are there many job opportunities for Financial Managers in this region?
The market is stable with a concentration near the national average, suggesting consistent opportunities rather than a booming job market.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 660 employees in the Northwest Illinois nonmetropolitan area area with a job density of 5.168 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 Northwest Illinois nonmetropolitan area