Average Financial Managers Salary in Providence-Warwick, RI-MA
Financial Managers in the Providence-Warwick, RI-MA area earn an average annual salary of $170,800. This figure is slightly below the national average of $184,480, reflecting regional economic factors and demand specific to the local market. While the nominal salary is competitive, understanding its purchasing power within Providence is key.
Executive Summary
- Average Salary: $170,800 per year.
- Growth Trend: Salaries have shifted 4.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $256,200.
- Outlook: The Providence-Warwick area supports a local workforce of 3,090 Financial Managers. With a Location Quotient of 0.82, the concentration of these roles is slightly below the national average, suggesting a stable but not overly saturated market. The presence of nearly 4.4 jobs per 1,000 workers indicates a consistent demand for financial expertise within the region's economic landscape.
Salary Overview
The average Financial Managers in Providence-Warwick, RI-MA earns-7.4%below the national average.
$82.1
$3,285
$14,233
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Financial Managers in Providence-Warwick have experienced growth over the past four years, mirroring national trends. Economic expansion, inflation, and increasing demand for sophisticated financial planning and analysis likely contribute to upward pressure on compensation for these vital roles.
Financial Managers Salary Distribution in Providence-Warwick, RI-MA
Salary progression for Financial Managers in Providence-Warwick typically scales significantly with experience. Entry-level positions might start in the lower percentiles, while seasoned professionals with extensive expertise and leadership responsibilities can command salaries in the upper percentiles. The gap between entry-level and senior compensation highlights clear opportunities for career advancement and increased earning potential within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $95,640 | $46 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $128,100 | $61.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $159,530 | $76.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $213,500 | $102.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $256,200 | $123.2 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$170,800
Gross Pay
Real Wage (Purchasing Power)
$170,800
Adjusted for COL (100)
The average annual salary of $170,800 for Financial Managers in Providence-Warwick aligns precisely with the national average Cost of Living Index of 100. This means that the nominal salary offers a purchasing power equivalent to the national average, making it neither exceptionally advantageous nor disadvantageous from a cost-of-living perspective for those relocating.
Job Market Context
3,090
Total Jobs
4.368
Per 1K Jobs
0.82
Location Quotient
Providence-Warwick, RI-MA has 0.82x 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 0.82 for Financial Managers in Providence-Warwick indicates that the profession is slightly less concentrated than the national average. This suggests that while the market is not as saturated as some larger metropolitan areas, there is a steady presence and demand for these professionals. It implies a competitive environment where skilled individuals can find opportunities without facing extreme competition.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Massachusetts nonmetropolitan area Financial Managers Salary | $148,630↓ 13% | 29 mi |
| Worcester, MA Financial Managers Salary | $175,840↑ 3% | 37 mi |
| Boston-Cambridge-Newton, MA-NH Financial Managers Salary | $209,520↑ 23% | 38 mi |
| Norwich-New London-Willimantic, CT Financial Managers Salary | $161,340↓ 6% | 39 mi |
| Barnstable Town, MA Financial Managers Salary | $159,030↓ 7% | 58 mi |
Comparing salaries near Providence-Warwick, RI-MA
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Frequently Asked Questions
How much does a Financial Managers make in Providence-Warwick, RI-MA?
The median annual salary for a Financial Managers in Providence-Warwick, RI-MA is $170,800. This typically ranges from $95,640 for entry-level positions to $256,200 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Providence-Warwick, RI-MA is 7.4% lower than the national median of $184,480.
Is Providence-Warwick, RI-MA a lucrative place for Financial Managers?
Yes, it offers competitive compensation.Financial Managers in Providence-Warwick earn a substantial average salary of $170,800, which aligns with the national average cost of living. While slightly below the national average salary, the stable job market and consistent demand ensure lucrative opportunities.
Is Providence-Warwick, RI-MA a good place to live for Financial Managers?
The Cost of Living Index in Providence-Warwick, RI-MA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Providence-Warwick, RI-MA?
Some top paying nearby cities include Massachusetts nonmetropolitan area ($148,630) and Worcester, MA.
How does the Providence-Warwick salary compare to the national average?
The average salary for Financial Managers in Providence-Warwick is $170,800, which is approximately 7.4% lower than the national average of $184,480.
What is the job market like for Financial Managers in Providence-Warwick?
The job market is stable, with a workforce of 3,090 Financial Managers and a Location Quotient of 0.82, indicating a slightly lower concentration than the national average but consistent demand.
Does the cost of living affect the salary in Providence-Warwick?
No, the cost of living in Providence-Warwick is at the national average (100), meaning the $170,800 salary has equivalent purchasing power to the national average salary.
How many Financial Manager jobs are there per 1,000 workers in Providence-Warwick?
There are approximately 4.368 Financial Manager jobs per 1,000 workers in the Providence-Warwick area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 3,090 employees in the Providence-Warwick, RI-MA area with a job density of 4.368 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 Providence-Warwick, RI-MA