Average Financial Managers Salary in Southeast Minnesota nonmetropolitan area
Financial Managers in Southeast Minnesota's nonmetropolitan area earn an average annual salary of $148,670. This figure is notably below the national average of $184,480, reflecting the distinct economic landscape and demand dynamics of this specific region compared to broader national trends.
Executive Summary
- Average Salary: $148,670 per year.
- Growth Trend: Salaries have shifted 31.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $220,880.
- Outlook: With a local workforce of 580 Financial Managers and a Location Quotient of 0.71, the job market in Southeast Minnesota's nonmetropolitan area indicates a slightly lower concentration of these professionals compared to the national average. While not a hub, the presence of nearly 4 Financial Managers per 1,000 workers suggests a stable, albeit niche, demand within the region's economy.
Salary Overview
The average Financial Managers in Southeast Minnesota nonmetropolitan area earns-19.4%below the national average.
$71.5
$2,859
$12,389
Financial Managers Salary Trends (2020-2024)
While specific historical data for this precise nonmetropolitan area is not provided, it is reasonable to assume that salaries for Financial Managers in Southeast Minnesota have experienced growth over the past four years, mirroring general economic trends and inflation. This upward trajectory is typical as businesses adapt to evolving market conditions and seek to retain skilled financial talent.
Financial Managers Salary Distribution in Southeast Minnesota nonmetropolitan area
Career progression for Financial Managers in Southeast Minnesota typically involves a significant salary increase with experience. Entry-level positions might start at lower percentiles, while seasoned professionals with extensive expertise and leadership responsibilities can command salaries in the higher percentiles, reflecting the value of their strategic financial acumen and proven track record.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $87,960 | $42.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $111,503 | $53.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $131,300 | $63.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $185,838 | $89.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $220,880 | $106.2 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$148,670
Gross Pay
Real Wage (Purchasing Power)
$148,670
Adjusted for COL (100)
The average annual salary of $148,670 for Financial Managers in Southeast Minnesota's nonmetropolitan area aligns perfectly with the national average cost of living index of 100. This means that, on average, the purchasing power of a Financial Manager's salary in this region is equivalent to that of their counterparts in a typical U.S. location, offering stable financial stability.
Job Market Context
580
Total Jobs
3.773
Per 1K Jobs
0.71
Location Quotient
Southeast Minnesota nonmetropolitan area has 0.71x 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.
A Location Quotient of 0.71 suggests that Financial Manager roles are less concentrated in Southeast Minnesota's nonmetropolitan area than the national average. This indicates a potentially less saturated market, which could offer unique opportunities for skilled professionals, though it also implies that the overall demand might be more localized and specific to regional industries.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| St. Cloud, MN Financial Managers Salary | $152,310↑ 2% | 17 mi |
| Minneapolis-St. Paul-Bloomington, MN-WI Financial Managers Salary | $177,050↑ 19% | 58 mi |
Comparing salaries near Southeast Minnesota nonmetropolitan area
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Southeast Minnesota nonmetropolitan area?
The median annual salary for a Financial Managers in Southeast Minnesota nonmetropolitan area is $148,670. This typically ranges from $87,960 for entry-level positions to $220,880 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Southeast Minnesota nonmetropolitan area is 19.4% lower than the national median of $184,480.
Is Southeast Minnesota nonmetropolitan area a lucrative place for Financial Managers?
No, not compared to the national average.While the average salary of $148,670 is substantial, it falls significantly short of the national average of $184,480. However, the cost of living being at the national average means the salary's purchasing power is comparable.
Is Southeast Minnesota nonmetropolitan area a good place to live for Financial Managers?
The Cost of Living Index in Southeast Minnesota nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Southeast Minnesota nonmetropolitan area?
Some top paying nearby cities include St. Cloud, MN ($152,310) and Minneapolis-St. Paul-Bloomington, MN-WI.
What is the average salary for a Financial Manager in Southeast Minnesota?
The average annual salary for a Financial Manager in Southeast Minnesota's nonmetropolitan area is $148,670.
How does the Southeast Minnesota salary compare to the national average?
The average salary in Southeast Minnesota ($148,670) is lower than the national average ($184,480).
What is the cost of living in Southeast Minnesota?
The cost of living in Southeast Minnesota's nonmetropolitan area is at the national average, indexed at 100.
How concentrated are Financial Manager jobs in this region?
The concentration of Financial Manager jobs, indicated by a Location Quotient of 0.71, is slightly below the national average, suggesting a less dense but stable presence of these roles.
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 Southeast Minnesota nonmetropolitan area area with a job density of 3.773 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 Southeast Minnesota nonmetropolitan area