Average Financial Managers Salary in Salt Lake City-Murray, UT
Financial Managers in the Salt Lake City-Murray, UT area earn an average annual salary of $162,640. This figure is notably below the national average of $184,480, suggesting that while the role is present, local market dynamics may influence compensation levels compared to broader national trends. Factors such as industry concentration and regional economic drivers likely contribute to this pay differential.
Executive Summary
- Average Salary: $162,640 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $243,960.
- Outlook: With a local workforce of 5,430 Financial Managers and a Location Quotient of 1.25, the Salt Lake City-Murray area demonstrates a concentration of these professionals exceeding the national average. This indicates a robust demand and a significant presence of financial management roles within the region's economic landscape, suggesting a healthy job market for skilled individuals.
Salary Overview
The average Financial Managers in Salt Lake City-Murray, UT earns-11.8%below the national average.
$78.2
$3,128
$13,553
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that salaries for Financial Managers have experienced consistent growth over the past four years, mirroring national trends. This upward trajectory is typically driven by increasing demand for financial expertise, evolving regulatory environments, and the growing complexity of corporate financial operations.
Financial Managers Salary Distribution in Salt Lake City-Murray, UT
The salary range for Financial Managers significantly expands with experience. Entry-level positions typically start at the lower end of the pay scale, while senior roles, demanding extensive expertise and strategic oversight, command substantially higher compensation. The percentile gaps in salary clearly signify the career progression and increased earning potential as professionals advance through various levels of responsibility.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $86,050 | $41.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $121,980 | $58.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $140,270 | $67.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $203,300 | $97.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $243,960 | $117.3 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$162,640
Gross Pay
Real Wage (Purchasing Power)
$162,640
Adjusted for COL (100)
The average annual salary of $162,640 for Financial Managers in Salt Lake City-Murray, UT aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of the local salary is equivalent to the national average, offering a stable financial standing without the immediate pressure of higher or lower living expenses.
Job Market Context
5,430
Total Jobs
6.651
Per 1K Jobs
1.25
Location Quotient
With a location quotient of 1.25, Salt Lake City-Murray, UT has a slightly higher-than-average concentration of Financial Managers roles compared to the national norm.
A Location Quotient of 1.25 signifies that Financial Managers are 25% more concentrated in the Salt Lake City-Murray area than the national average. This suggests a competitive yet abundant job market, where demand is strong enough to support a higher-than-average number of professionals in this field, offering good opportunities for those seeking employment.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Ogden, UT Financial Managers Salary | $144,560↓ 11% | 31 mi |
| Provo-Orem-Lehi, UT Financial Managers Salary | $156,340↓ 4% | 40 mi |
| High Desert Utah nonmetropolitan area Financial Managers Salary | $132,970↓ 18% | 44 mi |
| Wasatch Front Fringe Utah nonmetropolitan area Financial Managers Salary | $167,110↑ 3% | 44 mi |
| Logan, UT-ID Financial Managers Salary | $138,890↓ 15% | 67 mi |
Comparing salaries near Salt Lake City-Murray, UT
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Salt Lake City-Murray, UT?
The median annual salary for a Financial Managers in Salt Lake City-Murray, UT is $162,640. This typically ranges from $86,050 for entry-level positions to $243,960 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Salt Lake City-Murray, UT is 11.8% lower than the national median of $184,480.
Is Salt Lake City-Murray, UT a lucrative place for Financial Managerss?
Yes, with caveats.While the average salary of $162,640 is below the national average, the strong concentration of Financial Managers (LQ 1.25) and a cost of living at the national average suggest a stable and opportunity-rich environment.
Is Salt Lake City-Murray, UT a good place to live for Financial Managers?
The Cost of Living Index in Salt Lake City-Murray, UT is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Salt Lake City-Murray, UT?
Some top paying nearby cities include Ogden, UT ($144,560) and Provo-Orem-Lehi, UT.
How does the local salary compare to the national average?
The average annual salary for Financial Managers in Salt Lake City-Murray, UT is $162,640, which is lower than the national average of $184,480.
What is the job market like for Financial Managers in Salt Lake City-Murray, UT?
The job market is robust, indicated by a Location Quotient of 1.25, meaning there's a higher concentration of these roles compared to the national average, suggesting strong demand.
Does the cost of living affect the value of a Financial Manager's salary in this area?
No, the cost of living in Salt Lake City-Murray, UT is at the national average (100), meaning the $162,640 salary has equivalent purchasing power to the national average.
How many Financial Managers are there in the Salt Lake City-Murray, UT area?
There are approximately 5,430 Financial Managers employed within the Salt Lake City-Murray, UT metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 5,430 employees in the Salt Lake City-Murray, UT area with a job density of 6.651 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 Salt Lake City-Murray, UT