Average Financial Managers Salary in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Financial Managers in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD area earn an average annual salary of $177,520. This figure is slightly below the national average of $184,480, suggesting localized market dynamics and demand play a significant role in compensation within this region. The specific economic landscape and industry concentration in Philadelphia influence the pay scale for these critical finance professionals.
Executive Summary
- Average Salary: $177,520 per year.
- Growth Trend: Salaries have shifted 3.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $266,280.
- Outlook: The Philadelphia-Camden-Wilmington region boasts a robust job market for Financial Managers, with a total local workforce of 18,270 professionals in this role. The Location Quotient of 1.2 indicates a higher concentration of these jobs compared to the national average, signaling a healthy demand and a potentially competitive environment for talent.
Salary Overview
The average Financial Managers in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD earns-3.8%below the national average.
$85.4
$3,414
$14,793
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is generally observed that salaries for Financial Managers across the United States, including the Philadelphia-Camden-Wilmington area, have experienced consistent growth over the past four years. This upward trend is driven by increasing complexity in financial regulations, the growing need for strategic financial planning, and the overall expansion of businesses requiring sophisticated financial oversight.
Financial Managers Salary Distribution in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Salary progression for Financial Managers is strongly tied to experience and demonstrated expertise. Entry-level positions typically command salaries at the lower percentiles, while seasoned professionals with extensive experience in areas like corporate finance, investment banking, or risk management can expect to earn at the higher percentiles. The significant gap between entry-level and senior roles underscores the substantial career growth and earning potential within this field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $98,950 | $47.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $133,140 | $64 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $164,340 | $79 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $221,900 | $106.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $266,280 | $128 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$177,520
Gross Pay
Real Wage (Purchasing Power)
$177,520
Adjusted for COL (100)
With an average annual salary of $177,520 and a Cost of Living Index of 100 (matching the national average), Financial Managers in Philadelphia-Camden-Wilmington experience a salary that aligns directly with the national cost of living. This means that the purchasing power of their income is comparable to the national standard, offering a stable financial footing without significant advantages or disadvantages related to living expenses.
Job Market Context
18,270
Total Jobs
6.37
Per 1K Jobs
1.2
Location Quotient
With a location quotient of 1.20, Philadelphia-Camden-Wilmington, PA-NJ-DE-MD has a slightly higher-than-average concentration of Financial Managers roles compared to the national norm.
The Location Quotient of 1.2 for Financial Managers in Philadelphia-Camden-Wilmington signifies that this metropolitan area has a 20% higher concentration of these professionals than the national average. This suggests a well-established market with a notable demand for financial management expertise, potentially leading to more specialized roles and a competitive landscape for both employers seeking talent and professionals seeking opportunities.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Trenton-Princeton, NJ Financial Managers Salary | $198,260↑ 12% | 28 mi |
| Vineland, NJ Financial Managers Salary | $178,380↑ 0% | 35 mi |
| Allentown-Bethlehem-Easton, PA-NJ Financial Managers Salary | $155,790↓ 12% | 47 mi |
| Sussex Delaware nonmetropolitan area Financial Managers Salary | $183,040↑ 3% | 47 mi |
| Reading, PA Financial Managers Salary | $148,930↓ 16% | 48 mi |
Comparing salaries near Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD?
The median annual salary for a Financial Managers in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD is $177,520. This typically ranges from $98,950 for entry-level positions to $266,280 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD is 3.8% lower than the national median of $184,480.
Is Philadelphia-Camden-Wilmington, PA-NJ-DE-MD a lucrative place for Financial Managerss?
Yes, it offers competitive compensation aligned with the national cost of living.Financial Managers in this region earn $177,520, which is close to the national average, and the local Cost of Living Index is exactly at the national average, indicating good earning potential relative to expenses.
Is Philadelphia-Camden-Wilmington, PA-NJ-DE-MD a good place to live for Financial Managers?
The Cost of Living Index in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Philadelphia-Camden-Wilmington, PA-NJ-DE-MD?
Some top paying nearby cities include Trenton-Princeton, NJ ($198,260) and Vineland, NJ.
How does the Philadelphia-Camden-Wilmington salary compare to the national average?
The average salary for Financial Managers in Philadelphia-Camden-Wilmington is $177,520, which is slightly lower than the national average of $184,480.
What is the total number of Financial Managers in the Philadelphia-Camden-Wilmington area?
There are approximately 18,270 Financial Managers employed in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD region.
Does the Cost of Living in Philadelphia-Camden-Wilmington affect the Financial Manager salary?
The Cost of Living Index in Philadelphia-Camden-Wilmington is 100, which is the national average. Therefore, the salary of $177,520 holds its purchasing power consistent with the national standard.
Is the market for Financial Managers concentrated in Philadelphia-Camden-Wilmington?
Yes, the Location Quotient of 1.2 indicates a higher concentration of Financial Managers in this area compared to the national average, suggesting a strong presence and demand for these roles.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 18,270 employees in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD area with a job density of 6.37 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 Philadelphia-Camden-Wilmington, PA-NJ-DE-MD