Average Financial Managers Salary in Scranton--Wilkes-Barre, PA
Financial Managers in Scranton--Wilkes-Barre, PA, earn an average annual salary of $136,520. This figure is notably below the national average of $184,480, suggesting localized market dynamics and potentially lower demand or a different industry mix influence compensation in this region. The economic landscape of Scranton--Wilkes-Barre plays a significant role in shaping these salary expectations.
Executive Summary
- Average Salary: $136,520 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $207,660.
- Outlook: The Scranton--Wilkes-Barre area supports a local workforce of 790 Financial Managers, with 3.109 jobs per 1,000 workers. While the Location Quotient of 0.59 indicates a lower concentration of these roles compared to the national average, the steady presence of a workforce suggests a consistent, albeit not dominant, demand for financial management expertise within the region's economy.
Salary Overview
The average Financial Managers in Scranton--Wilkes-Barre, PA earns-26.0%below the national average.
$65.6
$2,625
$11,377
Financial Managers Salary Trends (2020-2024)
While specific historical data for Scranton--Wilkes-Barre is not provided, it is generally assumed that salaries for Financial Managers nationwide have experienced steady growth over the past four years, driven by inflation, increasing complexity of financial regulations, and a persistent need for skilled financial oversight. This trend likely extends to the Scranton--Wilkes-Barre market, albeit potentially at a different rate than national averages.
Financial Managers Salary Distribution in Scranton--Wilkes-Barre, PA
The career trajectory for Financial Managers typically involves significant salary progression. Entry-level positions might start at the lower end of the pay scale, while seasoned professionals with extensive experience and specialized skills can command salaries well into the upper percentiles. The gap between entry-level and senior roles signifies substantial earning potential and career advancement opportunities within the financial management field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $73,120 | $35.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $102,390 | $49.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $123,280 | $59.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $170,650 | $82 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $207,660 | $99.8 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$136,520
Gross Pay
Real Wage (Purchasing Power)
$136,520
Adjusted for COL (100)
With an average annual salary of $136,520 and a Cost of Living Index of 100, Financial Managers in Scranton--Wilkes-Barre experience a salary that aligns precisely with the national average cost of living. This means that the purchasing power of their income is equivalent to the national average, offering a stable financial standing without the premium often associated with higher cost-of-living areas.
Job Market Context
790
Total Jobs
3.109
Per 1K Jobs
0.59
Location Quotient
Scranton--Wilkes-Barre, PA has 0.59x 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.
The Location Quotient of 0.59 for Financial Managers in Scranton--Wilkes-Barre indicates that this profession is less concentrated in the area compared to the national average. This suggests that while opportunities exist, the market may be less saturated with specialized talent, potentially offering a unique competitive landscape for both employers seeking candidates and professionals looking for roles.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Binghamton, NY Financial Managers Salary | $168,700↑ 24% | 50 mi |
| Allentown-Bethlehem-Easton, PA-NJ Financial Managers Salary | $155,790↑ 14% | 57 mi |
| Southwest New York nonmetropolitan area Financial Managers Salary | $148,390↑ 9% | 64 mi |
| Central East New York nonmetropolitan area Financial Managers Salary | $157,050↑ 15% | 64 mi |
| Capital/Northern New York nonmetropolitan area Financial Managers Salary | $149,360↑ 9% | 64 mi |
Comparing salaries near Scranton--Wilkes-Barre, PA
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Frequently Asked Questions
How much does a Financial Managers make in Scranton--Wilkes-Barre, PA?
The median annual salary for a Financial Managers in Scranton--Wilkes-Barre, PA is $136,520. This typically ranges from $73,120 for entry-level positions to $207,660 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Scranton--Wilkes-Barre, PA is 26.0% lower than the national median of $184,480.
Is Scranton--Wilkes-Barre, PA a lucrative place for Financial Managers?
No, not compared to the national average.While Financial Managers in Scranton--Wilkes-Barre earn a respectable $136,520, this is significantly lower than the national average of $184,480. However, the cost of living is at the national average, making the salary's purchasing power comparable to the national standard.
Is Scranton--Wilkes-Barre, PA a good place to live for Financial Managers?
The Cost of Living Index in Scranton--Wilkes-Barre, PA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Scranton--Wilkes-Barre, PA?
Some top paying nearby cities include Binghamton, NY ($168,700) and Allentown-Bethlehem-Easton, PA-NJ.
How does the local workforce size affect Financial Manager salaries in Scranton--Wilkes-Barre?
The local workforce of 790 Financial Managers, while substantial, is not as concentrated as the national average (LQ of 0.59). This lower concentration suggests that demand might be more specialized or less robust compared to national hubs, potentially contributing to the lower average salary.
What does a Location Quotient of 0.59 mean for Financial Managers in Scranton--Wilkes-Barre?
A Location Quotient of 0.59 signifies that Financial Manager roles are less prevalent in Scranton--Wilkes-Barre than the national average. This implies a less competitive job market in terms of sheer numbers of professionals, but also potentially fewer high-paying, specialized opportunities.
How does the cost of living in Scranton--Wilkes-Barre compare to the national average?
The Cost of Living Index for Scranton--Wilkes-Barre is exactly 100, which is the national average. This means that the general expenses for goods and services are neither significantly higher nor lower than the national benchmark.
What is the average salary for a Financial Manager in Scranton--Wilkes-Barre, PA?
The average annual salary for a Financial Manager in Scranton--Wilkes-Barre, PA, is $136,520.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 790 employees in the Scranton--Wilkes-Barre, PA area with a job density of 3.109 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 Scranton--Wilkes-Barre, PA