Average Financial Managers Salary in Raleigh-Cary, NC
Financial Managers in Raleigh-Cary, NC, earn an average annual salary of $177,240. This figure is slightly below the national average of $184,480, indicating a nuanced compensation landscape within this dynamic metropolitan area. Local economic factors and industry demand play a significant role in shaping this compensation, even when compared to the broader national trend.
Executive Summary
- Average Salary: $177,240 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $265,860.
- Outlook: With a local workforce of 3,300 Financial Managers, Raleigh-Cary presents a substantial, yet not overwhelmingly concentrated, employment base. The Location Quotient of 0.86 suggests that while the area supports a significant number of these professionals, it is slightly less concentrated than the national average. This indicates a healthy demand that aligns with the general economic activity of the region, offering a stable outlook for career professionals.
Salary Overview
The average Financial Managers in Raleigh-Cary, NC earns-3.9%below the national average.
$85.2
$3,408
$14,770
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the compensation for Financial Managers in Raleigh-Cary has experienced growth over the past four years, mirroring national trends. Economic expansion, inflation, and increasing demand for sophisticated financial oversight typically drive salary increases in this sector, suggesting a positive trajectory for earning potential.
Financial Managers Salary Distribution in Raleigh-Cary, NC
Salary progression for Financial Managers in Raleigh-Cary is strongly tied to experience and demonstrated expertise. Entry-level positions typically command salaries at the lower end of the spectrum, while senior roles, requiring extensive experience and strategic decision-making capabilities, can significantly exceed the average. The percentile gaps in earnings highlight clear opportunities for career advancement and increased earning potential as professionals climb the ladder.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $92,700 | $44.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $132,930 | $63.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $162,120 | $77.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $221,550 | $106.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $265,860 | $127.8 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$177,240
Gross Pay
Real Wage (Purchasing Power)
$177,240
Adjusted for COL (100)
The average nominal salary of $177,240 in Raleigh-Cary, NC, aligns perfectly with the local Cost of Living Index of 100. This means that the purchasing power of a Financial Manager's salary in this area is equivalent to the national average. Consequently, the reported salary offers a standard of living comparable to the national benchmark, without the added financial strain or benefit often associated with areas having significantly higher or lower costs of living.
Job Market Context
3,300
Total Jobs
4.567
Per 1K Jobs
0.86
Location Quotient
Raleigh-Cary, NC has 0.86x 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 0.86 for Financial Managers in Raleigh-Cary indicates that the concentration of these professionals is slightly below the national average. This suggests that while the market is robust and employs a considerable number of financial managers (4.567 per 1,000 workers), it may not be as saturated as some other major metropolitan areas. This could translate to a competitive but accessible job market for skilled individuals.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Durham-Chapel Hill, NC Financial Managers Salary | $181,420↑ 2% | 18 mi |
| Rocky Mount, NC Financial Managers Salary | $149,170↓ 16% | 48 mi |
| Goldsboro, NC Financial Managers Salary | $180,930↑ 2% | 49 mi |
| Burlington, NC Financial Managers Salary | $150,180↓ 15% | 49 mi |
| Fayetteville, NC Financial Managers Salary | $146,800↓ 17% | 55 mi |
Comparing salaries near Raleigh-Cary, NC
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Raleigh-Cary, NC?
The median annual salary for a Financial Managers in Raleigh-Cary, NC is $177,240. This typically ranges from $92,700 for entry-level positions to $265,860 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Raleigh-Cary, NC is 3.9% lower than the national median of $184,480.
Is Raleigh-Cary, NC a lucrative place for Financial Managers?
Yes, with a caveat.The average salary of $177,240 is competitive, especially considering the national average cost of living. While slightly below the national salary average, the stable job market and comparable cost of living make it a financially sound location.
Is Raleigh-Cary, NC a good place to live for Financial Managers?
The Cost of Living Index in Raleigh-Cary, NC is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Raleigh-Cary, NC?
Some top paying nearby cities include Durham-Chapel Hill, NC ($181,420) and Rocky Mount, NC.
How does the Raleigh-Cary Financial Manager salary compare to the national average?
Financial Managers in Raleigh-Cary earn an average of $177,240 annually, which is slightly less than the national average of $184,480.
What is the job market like for Financial Managers in Raleigh-Cary?
The market is moderately concentrated, with a Location Quotient of 0.86, suggesting a healthy demand for professionals without extreme saturation.
Does the cost of living affect the value of a Financial Manager's salary in Raleigh-Cary?
No, the cost of living in Raleigh-Cary is exactly at the national average (100), meaning the $177,240 salary offers purchasing power equivalent to the national average.
How many Financial Managers work in the Raleigh-Cary area?
There are approximately 3,300 Financial Managers employed in the Raleigh-Cary metropolitan area, representing 4.567 jobs per 1,000 workers.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 3,300 employees in the Raleigh-Cary, NC area with a job density of 4.567 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 Raleigh-Cary, NC