Average Financial Managers Salary in South Illinois nonmetropolitan area
Financial Managers in South Illinois nonmetropolitan area earn an average annual salary of $119,080. This figure is notably below the national average of $184,480, reflecting regional economic factors and the specific demand dynamics within this nonmetropolitan setting. The localized pay scale is a direct consequence of the area's unique economic landscape and the concentration of financial management roles.
Executive Summary
- Average Salary: $119,080 per year.
- Growth Trend: Salaries have shifted 23.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $198,640.
- Outlook: The job market for Financial Managers in South Illinois nonmetropolitan area, with a total local workforce of 580 professionals, indicates a stable, albeit niche, presence. The Location Quotient of 0.77 suggests that while the concentration is slightly below the national average, there is still a consistent demand for these specialized roles within the region's economic structure.
Salary Overview
The average Financial Managers in South Illinois nonmetropolitan area earns-35.5%below the national average.
$57.3
$2,290
$9,923
Financial Managers Salary Trends (2020-2024)
While specific historical data for South Illinois nonmetropolitan area is not provided, it is generally assumed that salaries for Financial Managers have experienced steady growth over the past four years, mirroring national trends. This growth is typically driven by inflation, increasing complexity in financial regulations, and the evolving needs of businesses for sophisticated financial oversight.
Financial Managers Salary Distribution in South Illinois nonmetropolitan area
Salary progression for Financial Managers in South Illinois nonmetropolitan area typically scales significantly with experience. Entry-level positions may start at the lower percentiles, while senior roles, characterized by extensive experience and strategic responsibilities, command salaries in the upper percentiles. The widening gap between entry-level and senior compensation underscores the value placed on seasoned financial expertise.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $58,400 | $28.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $89,310 | $42.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $103,590 | $49.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $148,850 | $71.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $198,640 | $95.5 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$119,080
Gross Pay
Real Wage (Purchasing Power)
$119,080
Adjusted for COL (100)
The nominal average annual salary of $119,080 in South Illinois nonmetropolitan area 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 balanced lifestyle without the premium often associated with higher cost-of-living areas.
Job Market Context
580
Total Jobs
4.112
Per 1K Jobs
0.77
Location Quotient
South Illinois nonmetropolitan area has 0.77x 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 0.77, the job market for Financial Managers in South Illinois nonmetropolitan area is less concentrated than the national average. This suggests that while opportunities exist, the market is not saturated, potentially offering a competitive edge for skilled professionals seeking roles in this specific region.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Bloomington, IL Financial Managers Salary | $171,640↑ 44% | 9 mi |
| Decatur, IL Financial Managers Salary | $135,350↑ 14% | 34 mi |
| Champaign-Urbana, IL Financial Managers Salary | $135,120↑ 13% | 41 mi |
| Peoria, IL Financial Managers Salary | $153,220↑ 29% | 43 mi |
| Springfield, IL Financial Managers Salary | $147,470↑ 24% | 53 mi |
Comparing salaries near South Illinois nonmetropolitan area
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in South Illinois nonmetropolitan area?
The median annual salary for a Financial Managers in South Illinois nonmetropolitan area is $119,080. This typically ranges from $58,400 for entry-level positions to $198,640 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in South Illinois nonmetropolitan area is 35.5% lower than the national median of $184,480.
Is South Illinois nonmetropolitan area a lucrative place for Financial Managers?
No, not when compared to the national average.While the average salary of $119,080 is substantial, it falls significantly short of the national average of $184,480. However, the cost of living is at the national average, making the salary's purchasing power comparable.
Is South Illinois nonmetropolitan area a good place to live for Financial Managers?
The Cost of Living Index in South Illinois nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near South Illinois nonmetropolitan area?
Some top paying nearby cities include Bloomington, IL ($171,640) and Decatur, IL.
How does the South Illinois nonmetropolitan area compare to national salary benchmarks for Financial Managers?
The average salary of $119,080 in South Illinois nonmetropolitan area is considerably lower than the national average of $184,480, indicating regional economic differences in compensation for this role.
What is the concentration of Financial Managers in South Illinois nonmetropolitan area?
The concentration, measured by the Location Quotient, is 0.77, which is slightly below the national average. This suggests a moderate presence of Financial Managers relative to the overall workforce.
How does the cost of living in South Illinois nonmetropolitan area affect the Financial Manager salary?
The Cost of Living Index is 100, matching the national average. This means the $119,080 salary offers purchasing power equivalent to the national average, mitigating the impact of the lower nominal salary.
What is the total number of Financial Managers in South Illinois nonmetropolitan area?
There are approximately 580 Financial Managers employed in the South Illinois nonmetropolitan area, indicating a localized workforce size for this profession.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 580 employees in the South Illinois nonmetropolitan area area with a job density of 4.112 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 Illinois nonmetropolitan area