Average Financial Managers Salary in South Bend-Mishawaka, IN-MI
Financial Managers in South Bend-Mishawaka, IN-MI earn an average annual salary of $146,930. This figure is notably below the national average of $184,480, suggesting localized economic factors and industry demand play a significant role in compensation within this region. The specific economic landscape and the concentration of financial services firms in the South Bend-Mishawaka area directly influence these salary benchmarks.
Executive Summary
- Average Salary: $146,930 per year.
- Growth Trend: Salaries have shifted 14.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $227,090.
- Outlook: The financial management sector in South Bend-Mishawaka, IN-MI, while not as concentrated as the national average with a Location Quotient of 0.85, still supports a workforce of 590 professionals. The presence of 4.508 Financial Managers per 1,000 workers indicates a stable, albeit not exceptionally high, demand for these roles within the local economy. This suggests a consistent need for financial expertise, though perhaps not explosive growth.
Salary Overview
The average Financial Managers in South Bend-Mishawaka, IN-MI earns-20.4%below the national average.
$70.6
$2,826
$12,244
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Financial Managers in South Bend-Mishawaka, IN-MI have experienced a steady upward trend over the past four years, mirroring national patterns of salary growth driven by inflation, increased demand for financial expertise, and evolving industry standards. This growth is likely influenced by broader economic conditions and the increasing complexity of financial operations.
Financial Managers Salary Distribution in South Bend-Mishawaka, IN-MI
Career progression for Financial Managers in South Bend-Mishawaka, IN-MI, as elsewhere, is typically marked by significant salary increases with experience. Entry-level positions will command lower salaries, while senior roles, such as Chief Financial Officers or Directors of Finance, will see compensation rise substantially. The percentile gaps between early-career and seasoned professionals highlight the value placed on accumulated knowledge, strategic oversight, and leadership capabilities in the financial management field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $73,040 | $35.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $110,198 | $53 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $133,720 | $64.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $183,663 | $88.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $227,090 | $109.2 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$146,930
Gross Pay
Real Wage (Purchasing Power)
$146,930
Adjusted for COL (100)
The average annual salary of $146,930 for Financial Managers in South Bend-Mishawaka, IN-MI aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of this salary is equivalent to the national average, making relocation to this area financially neutral from a cost-of-living perspective. Residents can expect their earnings to cover standard expenses without the added burden of a higher cost of living.
Job Market Context
590
Total Jobs
4.508
Per 1K Jobs
0.85
Location Quotient
South Bend-Mishawaka, IN-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.
With a Location Quotient of 0.85, the South Bend-Mishawaka, IN-MI market for Financial Managers is slightly less concentrated than the national average. This suggests that while the profession is well-represented, it is not an overwhelmingly dominant sector compared to other industries or regions. The job market is likely competitive, with opportunities available but perhaps fewer than in areas with a higher concentration of financial services.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Niles, MI Financial Managers Salary | $131,630↓ 10% | 11 mi |
| Elkhart-Goshen, IN Financial Managers Salary | $149,090↑ 1% | 16 mi |
| Michigan City-La Porte, IN Financial Managers Salary | $122,870↓ 16% | 31 mi |
| Kalamazoo-Portage, MI Financial Managers Salary | $154,370↑ 5% | 54 mi |
| Battle Creek, MI Financial Managers Salary | $157,310↑ 7% | 69 mi |
Comparing salaries near South Bend-Mishawaka, IN-MI
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Frequently Asked Questions
How much does a Financial Managers make in South Bend-Mishawaka, IN-MI?
The median annual salary for a Financial Managers in South Bend-Mishawaka, IN-MI is $146,930. This typically ranges from $73,040 for entry-level positions to $227,090 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in South Bend-Mishawaka, IN-MI is 20.4% lower than the national median of $184,480.
Is South Bend-Mishawaka, IN-MI a lucrative place for Financial Managerss?
No, not exceptionally lucrative compared to the national average.While the average salary of $146,930 is substantial, it falls below the national average of $184,480. However, the cost of living being at the national average means the salary's purchasing power is equivalent.
Is South Bend-Mishawaka, IN-MI a good place to live for Financial Managers?
The Cost of Living Index in South Bend-Mishawaka, IN-MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near South Bend-Mishawaka, IN-MI?
Some top paying nearby cities include Niles, MI ($131,630) and Elkhart-Goshen, IN.
How does the South Bend-Mishawaka Financial Manager salary compare to the national average?
The average salary for Financial Managers in South Bend-Mishawaka, IN-MI is $146,930, which is lower than the national average of $184,480.
What is the cost of living in South Bend-Mishawaka, IN-MI for Financial Managers?
The cost of living in South Bend-Mishawaka, IN-MI is at the national average of 100, meaning your salary has average purchasing power.
How concentrated is the Financial Manager job market in South Bend-Mishawaka, IN-MI?
The market has a Location Quotient of 0.85, indicating it is slightly less concentrated than the national average, suggesting a stable but not hyper-abundant job market.
How many Financial Managers are there in South Bend-Mishawaka, IN-MI?
There are approximately 590 Financial Managers in the South Bend-Mishawaka, IN-MI area, representing 4.508 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 590 employees in the South Bend-Mishawaka, IN-MI area with a job density of 4.508 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 South Bend-Mishawaka, IN-MI