Average Financial Managers Salary in Pittsfield, MA
Financial Managers in Pittsfield, MA, earn an average annual salary of $162,140. This figure is notably below the national average of $184,480, suggesting that local market dynamics, industry concentration, or specific employer compensation strategies in Pittsfield influence this compensation level. The presence of a specialized workforce, even if not exceeding national concentration, plays a role in setting these local pay scales.
Executive Summary
- Average Salary: $162,140 per year.
- Growth Trend: Salaries have shifted 62.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $243,210.
- Outlook: The local job market for Financial Managers in Pittsfield, MA, is characterized by a workforce of 250 professionals. With a Location Quotient of 0.83, the concentration of these roles is slightly below the national average, indicating a stable but not exceptionally high demand relative to other occupations. The rate of 4.381 jobs per 1,000 workers suggests a consistent, albeit moderate, presence of financial management opportunities within the region's employment landscape.
Salary Overview
The average Financial Managers in Pittsfield, MA earns-12.1%below the national average.
$78
$3,118
$13,512
Financial Managers Salary Trends (2020-2024)
While specific historical data for Pittsfield is not provided, it is reasonable to assume that the salaries for Financial Managers in this region have experienced growth over the past four years, mirroring national trends. Economic expansion, evolving financial regulations, and increasing complexity in corporate finance typically drive up demand and compensation for skilled financial professionals, leading to incremental salary increases.
Financial Managers Salary Distribution in Pittsfield, MA
The career trajectory for Financial Managers in Pittsfield, MA, typically involves significant salary growth from entry-level to senior positions. While the average salary stands at $162,140, experienced professionals, particularly those in senior or specialized roles, can command salaries well above this benchmark. The percentile distribution of salaries would reveal substantial gaps between the lower and upper quartiles, underscoring the financial rewards associated with career progression and accumulated expertise.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $82,960 | $39.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $121,605 | $58.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $153,160 | $73.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $202,675 | $97.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $243,210 | $116.9 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$162,140
Gross Pay
Real Wage (Purchasing Power)
$162,140
Adjusted for COL (100)
The average nominal salary of $162,140 for Financial Managers in Pittsfield, MA, aligns perfectly with the national average cost of living, indicated by an index of 100. This means that the purchasing power of a Financial Manager's salary in Pittsfield is equivalent to that of a Financial Manager earning the national average salary in a location with a national average cost of living. Therefore, the salary offers a standard lifestyle without significant financial strain related to local expenses.
Job Market Context
250
Total Jobs
4.381
Per 1K Jobs
0.83
Location Quotient
Pittsfield, MA has 0.83x 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 0.83 for Financial Managers in Pittsfield, MA, signifies that the concentration of these professionals in the local workforce is slightly lower than the national average. This suggests that while the profession is present and valued, the market may not be as saturated as in major financial hubs. This could translate to a moderately competitive job market, where opportunities exist but may require specific skills or experience to secure.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Albany-Schenectady-Troy, NY Financial Managers Salary | $167,180↑ 3% | 31 mi |
| Amherst Town-Northampton, MA Financial Managers Salary | $151,860↓ 6% | 38 mi |
| Springfield, MA Financial Managers Salary | $173,950↑ 7% | 44 mi |
| Kingston, NY Financial Managers Salary | $177,200↑ 9% | 52 mi |
| Hartford-West Hartford-East Hartford, CT Financial Managers Salary | $180,060↑ 11% | 56 mi |
Comparing salaries near Pittsfield, MA
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Pittsfield, MA?
The median annual salary for a Financial Managers in Pittsfield, MA is $162,140. This typically ranges from $82,960 for entry-level positions to $243,210 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Pittsfield, MA is 12.1% lower than the national median of $184,480.
Is Pittsfield, MA a lucrative place for Financial Managers?
Moderately. The salary is competitive with the national cost of living, but below the national average salary.Financial Managers in Pittsfield earn $162,140, which aligns with a national cost of living index of 100. However, this is below the national average salary for the role, indicating a balanced but not exceptionally high earning potential.
Is Pittsfield, MA a good place to live for Financial Managers?
The Cost of Living Index in Pittsfield, MA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Pittsfield, MA?
Some top paying nearby cities include Albany-Schenectady-Troy, NY ($167,180) and Amherst Town-Northampton, MA.
How does Pittsfield's Financial Manager salary compare to the national average?
The average salary for Financial Managers in Pittsfield, MA, is $162,140, which is below the national average of $184,480.
What is the cost of living in Pittsfield, MA, for Financial Managers?
Pittsfield, MA, has a cost of living index of 100, which is exactly the national average. This means the local expenses are comparable to the national average.
How concentrated is the Financial Manager job market in Pittsfield?
The concentration of Financial Managers in Pittsfield is indicated by a Location Quotient of 0.83, which is slightly below the national average, suggesting a stable but not overly dense market.
What is the total number of Financial Managers in Pittsfield, MA?
There are approximately 250 Financial Managers employed in Pittsfield, MA.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 250 employees in the Pittsfield, MA area with a job density of 4.381 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 Pittsfield, MA