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Average Financial Managers Salary in Rochester, NY

Financial Managers in Rochester, NY, earn an average annual salary of $175,950. This figure is slightly below the national average of $184,480, indicating a localized compensation structure influenced by regional economic factors and industry demand within the Rochester area.

Executive Summary

  • Average Salary: $175,950 per year.
  • Growth Trend: Salaries have shifted 8.8% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $263,925.
  • Outlook: With a local workforce of 2,060 Financial Managers, Rochester, NY, presents a stable, albeit not exceptionally concentrated, job market for this profession. The Location Quotient of 0.79 suggests that while the role is present, it is not as dominant as the national average, implying a steady but not rapidly expanding demand.
2024 Market Data

Salary Overview

$175,950

The average Financial Managers in Rochester, NY earns-4.6%below the national average.

BreakdownBased on 40h/week
Hourly

$84.6

Weekly

$3,384

Monthly

$14,663

Financial Managers Salary Distribution in Rochester, NY

The salary progression for Financial Managers in Rochester, NY, typically scales significantly with experience. Entry-level positions might start in the lower percentiles, while seasoned professionals with extensive experience and specialized skills can command salaries in the upper percentiles, reflecting a clear career ladder and the value placed on expertise and leadership within the financial sector.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$96,880$46.6
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$131,963$63.4
ManagerOversees team, compliance, and project delivery.50% (Median)$156,790$75.4
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$219,938$105.7
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$263,925$126.9

Detailed Financial Managers Market Analysis

Relocation Context

Nominal Salary

$175,950

Gross Pay

Real Wage (Purchasing Power)

$175,950

Adjusted for COL (100)

The average annual salary of $175,950 in Rochester, NY, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the nominal salary offers purchasing power equivalent to the national average, providing a stable financial standing for professionals relocating to or residing in the area.

Job Market Context

2,060

Total Jobs

4.202

Per 1K Jobs

0.79

Location Quotient

Below Average

Rochester, NY has 0.79x 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 0.79 for Financial Managers in Rochester, NY, indicates a slightly lower concentration of these roles compared to the national average. This suggests that while opportunities exist, the market may be less saturated than in major financial hubs, potentially offering a competitive edge for skilled professionals seeking employment.

Nearby Job Markets

Nearby Cities for Financial Managers

CitySalaryDist.
Buffalo-Cheektowaga, NY Financial Managers Salary$179,460↑ 2%65 mi
Syracuse, NY Financial Managers Salary$166,630↓ 5%75 mi
Ithaca, NY Financial Managers Salary$161,000↓ 8%75 mi
Elmira, NY Financial Managers Salary$157,610↓ 10%85 mi

Comparing salaries near Rochester, NY

Hiring Financial Managerss?

Frequently Asked Questions

How much does a Financial Managers make in Rochester, NY?

The median annual salary for a Financial Managers in Rochester, NY is $175,950. This typically ranges from $96,880 for entry-level positions to $263,925 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Rochester, NY is 4.6% lower than the national median of $184,480.

Is Rochester, NY a lucrative place for Financial Managers?

Yes, Rochester, NY offers a competitive salary for Financial Managers.The average salary of $175,950 is substantial, and with a cost of living at the national average, the purchasing power of this salary is strong.

Is Rochester, NY a good place to live for Financial Managers?

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

Where are the highest paying cities near Rochester, NY?

Some top paying nearby cities include Buffalo-Cheektowaga, NY ($179,460) and Syracuse, NY.

How does Rochester's Financial Manager salary compare to the national average?

The average salary for Financial Managers in Rochester, NY, is $175,950, which is slightly below the national average of $184,480.

What is the job market like for Financial Managers in Rochester, NY?

Rochester has a workforce of 2,060 Financial Managers, with a Location Quotient of 0.79, indicating a stable but less concentrated market compared to national averages.

How does the cost of living in Rochester affect the Financial Manager salary?

Rochester's Cost of Living Index is 100 (national average), meaning the $175,950 salary provides purchasing power equivalent to the national average.

Can experienced Financial Managers expect higher salaries in Rochester, NY?

Yes, salary typically increases significantly with experience, with senior roles commanding higher earnings within the upper percentiles of the salary range.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 2,060 employees in the Rochester, NY area with a job density of 4.202 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 Rochester, NY