Average Financial Managers Salary in South Central Kentucky nonmetropolitan area
Financial Managers in the South Central Kentucky nonmetropolitan area earn an average annual salary of $121,280. This figure is notably below the national average of $184,480, reflecting the distinct economic landscape and demand dynamics present in this region compared to major metropolitan hubs.
Executive Summary
- Average Salary: $121,280 per year.
- Growth Trend: Salaries have shifted 23.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $205,780.
- Outlook: The local job market for Financial Managers in South Central Kentucky is characterized by a workforce of 410 professionals. With a Location Quotient of 0.44, the concentration of these roles is less than half the national average, suggesting a more specialized or less saturated demand for financial management expertise within this nonmetropolitan area.
Salary Overview
The average Financial Managers in South Central Kentucky nonmetropolitan area earns-34.3%below the national average.
$58.3
$2,332
$10,107
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that salaries for Financial Managers across most regions, including South Central Kentucky, have experienced a steady upward trend over the past four years, driven by inflation, increasing business complexity, and the ongoing need for skilled financial oversight.
Financial Managers Salary Distribution in South Central Kentucky nonmetropolitan area
Career progression for Financial Managers typically involves a significant salary increase with experience. Entry-level positions might start at a lower percentile, while seasoned professionals with extensive experience and specialized skills can command salaries in the higher percentiles, reflecting their increased value and responsibility within an organization.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $70,510 | $33.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $90,960 | $43.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $104,690 | $50.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $151,600 | $72.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $205,780 | $98.9 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$121,280
Gross Pay
Real Wage (Purchasing Power)
$121,280
Adjusted for COL (100)
The nominal average salary of $121,280 in South Central Kentucky aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of a Financial Manager's salary in this region is equivalent to the national average, offering a stable financial environment without the premium often associated with higher cost-of-living areas.
Job Market Context
410
Total Jobs
2.36
Per 1K Jobs
0.44
Location Quotient
At 0.44x, South Central Kentucky nonmetropolitan area has a notably lower concentration of Financial Managers jobs than the national average. Opportunities in this area are relatively scarce for this profession.
A Location Quotient of 0.44 indicates that Financial Managers are less concentrated in South Central Kentucky compared to the national average. This suggests that while the demand may not be as robust as in larger economic centers, professionals in this field may find fewer competitors, potentially leading to unique opportunities for those with specialized skills.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Lexington-Fayette, KY Financial Managers Salary | $146,680↑ 21% | 28 mi |
| Elizabethtown, KY Financial Managers Salary | $134,230↑ 11% | 66 mi |
| Louisville/Jefferson County, KY-IN Financial Managers Salary | $147,750↑ 22% | 72 mi |
| Cincinnati, OH-KY-IN Financial Managers Salary | $160,960↑ 33% | 100 mi |
Comparing salaries near South Central Kentucky nonmetropolitan area
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in South Central Kentucky nonmetropolitan area?
The median annual salary for a Financial Managers in South Central Kentucky nonmetropolitan area is $121,280. This typically ranges from $70,510 for entry-level positions to $205,780 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in South Central Kentucky nonmetropolitan area is 34.3% lower than the national median of $184,480.
Is South Central Kentucky nonmetropolitan area a lucrative place for Financial Managers?
No, it is not as lucrative as the national average.The average salary of $121,280 is significantly lower than the national average of $184,480. However, the cost of living is at the national average, making the effective purchasing power comparable to the national median.
Is South Central Kentucky nonmetropolitan area a good place to live for Financial Managers?
The Cost of Living Index in South Central Kentucky nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near South Central Kentucky nonmetropolitan area?
Some top paying nearby cities include Lexington-Fayette, KY ($146,680) and Elizabethtown, KY.
How does the number of Financial Managers in South Central Kentucky compare nationally?
With 2.36 jobs per 1,000 workers, the presence of Financial Managers in South Central Kentucky is below the national average, reflecting the region's nonmetropolitan status and its specific economic drivers.
What does a Location Quotient of 0.44 mean for Financial Managers in this area?
A Location Quotient of 0.44 signifies that the concentration of Financial Managers in South Central Kentucky is less than half of the national average, indicating a less dense but potentially specialized job market.
How does the cost of living impact the salary for Financial Managers in South Central Kentucky?
With a Cost of Living Index of 100, the $121,280 salary offers purchasing power equivalent to the national average, meaning expenses for housing, goods, and services are on par with the rest of the country.
What is the total number of Financial Managers employed in South Central Kentucky?
There are approximately 410 Financial Managers employed in the South Central Kentucky nonmetropolitan area, representing a specific segment of the local professional workforce.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 410 employees in the South Central Kentucky nonmetropolitan area area with a job density of 2.36 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 Central Kentucky nonmetropolitan area