Average Financial Managers Salary in Saginaw, MI
Financial Managers in Saginaw, MI, earn an average annual salary of $135,120. This figure is notably below the national average of $184,480, reflecting localized economic factors and industry demand within the region. The specific economic landscape and corporate presence in Saginaw directly influence compensation levels for these critical finance professionals.
Executive Summary
- Average Salary: $135,120 per year.
- Growth Trend: Salaries have shifted 17.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $199,360.
- Outlook: With a total local workforce of 360 Financial Managers, Saginaw presents a moderately sized market for these professionals. The Location Quotient of 0.85 suggests a concentration slightly below the national average, indicating that while the role is present, it's not disproportionately dominant compared to other areas. The presence of 4.511 jobs per 1,000 workers signifies a steady, albeit not exceptionally high, demand for financial management expertise.
Salary Overview
The average Financial Managers in Saginaw, MI earns-26.8%below the national average.
$65
$2,598
$11,260
Financial Managers Salary Trends (2020-2024)
While specific historical data for Saginaw's Financial Manager salaries over the past four years is not provided, it is generally assumed that compensation trends in the financial sector have seen incremental growth. Factors such as inflation, evolving market demands, and the increasing complexity of financial operations typically contribute to a gradual upward trajectory in salaries for experienced professionals across most U.S. metropolitan areas.
Financial Managers Salary Distribution in Saginaw, MI
Salary progression for Financial Managers in Saginaw, MI, typically correlates strongly with experience and specialization. Entry-level positions might start at the lower end of the pay scale, while senior roles, such as Chief Financial Officers or Directors of Finance, command significantly higher compensation. The percentile distribution of salaries, though not detailed here, would illustrate these gaps, showcasing the substantial earning potential as professionals advance through various career stages.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $80,290 | $38.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $101,340 | $48.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $124,310 | $59.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $168,900 | $81.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $199,360 | $95.8 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$135,120
Gross Pay
Real Wage (Purchasing Power)
$135,120
Adjusted for COL (100)
The average annual salary of $135,120 for Financial Managers in Saginaw, MI, aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of a Saginaw-based Financial Manager's salary is equivalent to that of a Financial Manager earning the national average in a location with average living expenses. Therefore, the nominal salary effectively translates to a comparable standard of living.
Job Market Context
360
Total Jobs
4.511
Per 1K Jobs
0.85
Location Quotient
Saginaw, MI has 0.85x 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 0.85 for Financial Managers in Saginaw, MI, indicates that the concentration of these roles is slightly lower than the national average. This suggests that while opportunities exist, the market may be less saturated than in major financial hubs, potentially offering a more stable, albeit less competitive, environment for professionals. The job market is neither exceptionally abundant nor scarce, representing a balanced demand for skilled financial leadership.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Bay City, MI Financial Managers Salary | $139,330↑ 3% | 12 mi |
| Midland, MI Financial Managers Salary | $196,360↑ 45% | 20 mi |
| Mid Michigan nonmetropolitan area Financial Managers Salary | $125,050↓ 7% | 30 mi |
| Southern Michigan nonmetropolitan area Financial Managers Salary | $140,670↑ 4% | 30 mi |
| Northern Michigan nonmetropolitan area Financial Managers Salary | $120,690↓ 11% | 30 mi |
Comparing salaries near Saginaw, MI
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Frequently Asked Questions
How much does a Financial Managers make in Saginaw, MI?
The median annual salary for a Financial Managers in Saginaw, MI is $135,120. This typically ranges from $80,290 for entry-level positions to $199,360 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Saginaw, MI is 26.8% lower than the national median of $184,480.
Is Saginaw, MI a lucrative place for Financial Managers?
No, not exceptionally lucrative compared to the national average.While the average salary of $135,120 is substantial, it falls below the national average of $184,480, indicating lower compensation levels in this specific region.
Is Saginaw, MI a good place to live for Financial Managers?
The Cost of Living Index in Saginaw, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Saginaw, MI?
Some top paying nearby cities include Bay City, MI ($139,330) and Midland, MI.
How does Saginaw's cost of living affect the Financial Manager salary?
Saginaw's Cost of Living Index is 100, matching the national average. This means the $135,120 salary offers a purchasing power equivalent to the national average, making the nominal salary's value stable relative to living expenses.
What is the job market like for Financial Managers in Saginaw?
The market is moderately sized with 360 Financial Managers and a Location Quotient of 0.85, suggesting a presence slightly below the national average concentration. Demand is steady, with 4.511 jobs per 1,000 workers.
How does experience impact a Financial Manager's salary in Saginaw?
Experience is a key driver of salary. Entry-level roles will earn less, while senior positions like CFOs can command significantly higher compensation, reflecting increased responsibility and expertise.
Is the Financial Manager role highly concentrated in Saginaw?
No, the Location Quotient of 0.85 indicates a concentration slightly below the national average. This means Financial Managers are present but not disproportionately represented compared to other professions or locations.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 360 employees in the Saginaw, MI area with a job density of 4.511 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 Saginaw, MI