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Average Financial Managers Salary in Peoria, IL

Financial Managers in Peoria, IL, command an impressive average annual salary of $153,220. While this figure is below the national average of $184,480, local economic factors and industry demand within Peoria contribute to this competitive compensation. The specific needs of businesses in the region shape the earning potential for these critical finance professionals.

Executive Summary

  • Average Salary: $153,220 per year.
  • Growth Trend: Salaries have shifted 22.3% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $229,830.
  • Outlook: With a local workforce of 1,050 Financial Managers and a Location Quotient of 1.2, Peoria demonstrates a concentration of these roles slightly above the national average. This suggests a stable and potentially growing demand for financial expertise within the city, indicating a robust job market for professionals in this field.
2024 Market Data

Salary Overview

$153,220

The average Financial Managers in Peoria, IL earns-16.9%below the national average.

BreakdownBased on 40h/week
Hourly

$73.7

Weekly

$2,947

Monthly

$12,768

Financial Managers Salary Distribution in Peoria, IL

The salary trajectory for Financial Managers in Peoria typically scales significantly with experience. Entry-level positions may start at a lower percentile, but as professionals gain expertise and take on greater responsibilities, their earning potential can climb into the higher percentiles. This progression is a key indicator of career advancement opportunities within the field.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$79,330$38.1
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$114,915$55.2
ManagerOversees team, compliance, and project delivery.50% (Median)$132,730$63.8
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$191,525$92.1
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$229,830$110.5

Detailed Financial Managers Market Analysis

Relocation Context

Nominal Salary

$153,220

Gross Pay

Real Wage (Purchasing Power)

$153,220

Adjusted for COL (100)

The average annual salary of $153,220 in Peoria, IL, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of a Financial Manager's salary in Peoria is equivalent to the national standard, offering a stable financial environment for residents.

Job Market Context

1,050

Total Jobs

6.379

Per 1K Jobs

1.2

Location Quotient

Above Average

With a location quotient of 1.20, Peoria, IL has a slightly higher-than-average concentration of Financial Managers roles compared to the national norm.

A Location Quotient of 1.2 indicates that Financial Managers are 20% more concentrated in Peoria, IL, than the national average. This suggests a healthy and active job market for these professionals, implying that employers may be actively seeking to fill these roles, potentially leading to competitive hiring environments.

Nearby Job Markets

Nearby Cities for Financial Managers

CitySalaryDist.
Bloomington, IL Financial Managers Salary$171,640↑ 12%39 mi
West Central Illinois nonmetropolitan area Financial Managers Salary$128,400↓ 16%43 mi
East Central Illinois nonmetropolitan area Financial Managers Salary$140,910↓ 8%43 mi
Northwest Illinois nonmetropolitan area Financial Managers Salary$134,200↓ 12%43 mi
South Illinois nonmetropolitan area Financial Managers Salary$119,080↓ 22%43 mi

Comparing salaries near Peoria, IL

Hiring Financial Managerss?

Frequently Asked Questions

How much does a Financial Managers make in Peoria, IL?

The median annual salary for a Financial Managers in Peoria, IL is $153,220. This typically ranges from $79,330 for entry-level positions to $229,830 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Peoria, IL is 16.9% lower than the national median of $184,480.

Is Peoria, IL a lucrative place for Financial Managers?

Yes, Peoria offers a competitive environment for Financial Managers.Financial Managers in Peoria earn $153,220 annually, which is on par with the national cost of living. The higher-than-average concentration of these roles suggests strong local demand.

Is Peoria, IL a good place to live for Financial Managers?

The Cost of Living Index in Peoria, IL is 100. While higher than average, this often correlates with higher wages.

Where are the highest paying cities near Peoria, IL?

Some top paying nearby cities include Bloomington, IL ($171,640) and West Central Illinois nonmetropolitan area.

How does the Peoria Financial Manager salary compare to the national average?

The average annual salary for Financial Managers in Peoria, IL, is $153,220, which is lower than the national average of $184,480.

What is the concentration of Financial Managers in Peoria, IL?

Peoria, IL has a Location Quotient of 1.2 for Financial Managers, indicating a concentration that is 20% higher than the national average.

Does the cost of living in Peoria affect the Financial Manager salary?

No, the cost of living in Peoria is exactly at the national average (100), meaning the $153,220 salary has the same purchasing power as the national average salary.

How many Financial Managers are there in Peoria, IL?

There are approximately 1,050 Financial Managers employed in the Peoria, IL area.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,050 employees in the Peoria, IL area with a job density of 6.379 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Financial Managers • Data source: BLS OEWS 2024 •Jobs in Peoria, IL