Average Financial Managers Salary in Southern Indiana nonmetropolitan area
Financial Managers in Southern Indiana's nonmetropolitan areas earn an average annual salary of $123,280. This figure is notably lower than the national average of $184,480, reflecting the unique economic landscape and demand specific to this region. Factors such as industry concentration and the overall economic activity in these nonmetropolitan settings often contribute to localized salary benchmarks.
Executive Summary
- Average Salary: $123,280 per year.
- Growth Trend: Salaries have shifted 32.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $195,170.
- Outlook: The job market for Financial Managers in this Southern Indiana nonmetropolitan area, with a total workforce of 460, presents a modest concentration as indicated by a Location Quotient of 0.44. While the number of jobs per 1,000 workers stands at 2.354, suggesting a presence, the lower-than-average LQ implies that this region is not a primary hub for this profession nationally. The workforce size indicates a stable, albeit not rapidly expanding, demand for financial management expertise.
Salary Overview
The average Financial Managers in Southern Indiana nonmetropolitan area earns-33.2%below the national average.
$59.3
$2,371
$10,273
Financial Managers Salary Trends (2020-2024)
While specific historical data for this nonmetropolitan area is not provided, it is generally assumed that salaries for Financial Managers across the nation, and likely within this region, have experienced steady growth over the past four years. This trend is typically driven by inflation, increasing complexity in financial regulations, and a persistent demand for skilled professionals to manage organizational finances effectively.
Financial Managers Salary Distribution in Southern Indiana nonmetropolitan area
Salary progression for Financial Managers typically scales significantly with experience. Entry-level positions will command lower salaries, while senior roles, requiring extensive experience and strategic oversight, will reach the higher percentiles. The widening gap between entry-level and senior compensation reflects the increasing value and responsibility associated with advanced financial leadership, signifying clear career progression pathways.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $68,390 | $32.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $92,460 | $44.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $105,930 | $50.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $154,100 | $74.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $195,170 | $93.8 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$123,280
Gross Pay
Real Wage (Purchasing Power)
$123,280
Adjusted for COL (100)
With an average annual salary of $123,280 and a Cost of Living Index of 100 (on par with the national average), Financial Managers in this Southern Indiana nonmetropolitan area can expect their nominal earnings to translate directly to purchasing power. The absence of a higher or lower cost of living means that the $123,280 salary offers a standard level of affordability relative to national benchmarks.
Job Market Context
460
Total Jobs
2.354
Per 1K Jobs
0.44
Location Quotient
At 0.44x, Southern Indiana 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 for Financial Managers in this Southern Indiana nonmetropolitan area indicates a lower concentration of these professionals compared to the national average. This suggests that the job market is less saturated, potentially offering more opportunities for skilled individuals relative to the number of available professionals, though it also implies that the region is not a dominant center for this career field.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Indianapolis-Carmel-Greenwood, IN Financial Managers Salary | $157,380↑ 28% | 8 mi |
| Kokomo, IN Financial Managers Salary | $153,750↑ 25% | 43 mi |
| Columbus, IN Financial Managers Salary | $150,120↑ 22% | 48 mi |
| Bloomington, IN Financial Managers Salary | $145,130↑ 18% | 49 mi |
| Lafayette-West Lafayette, IN Financial Managers Salary | $137,170↑ 11% | 50 mi |
Comparing salaries near Southern Indiana nonmetropolitan area
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Southern Indiana nonmetropolitan area?
The median annual salary for a Financial Managers in Southern Indiana nonmetropolitan area is $123,280. This typically ranges from $68,390 for entry-level positions to $195,170 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Southern Indiana nonmetropolitan area is 33.2% lower than the national median of $184,480.
Is Southern Indiana nonmetropolitan area a lucrative place for Financial Managers?
No, it is not as lucrative as the national average.The average salary of $123,280 is significantly below the national average of $184,480, indicating lower earning potential in this specific region.
Is Southern Indiana nonmetropolitan area a good place to live for Financial Managers?
The Cost of Living Index in Southern Indiana nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Southern Indiana nonmetropolitan area?
Some top paying nearby cities include Indianapolis-Carmel-Greenwood, IN ($157,380) and Kokomo, IN.
How does the local workforce size affect job opportunities?
A local workforce of 460 Financial Managers suggests a stable, but not extensive, job market. While this size can mean less competition for experienced professionals, it also indicates a limited number of overall positions available compared to larger metropolitan areas.
What does a Location Quotient of 0.44 mean for Financial Managers?
A Location Quotient of 0.44 signifies that Financial Managers are less concentrated in this Southern Indiana nonmetropolitan area than the national average. This could translate to fewer specialized roles but potentially higher demand for generalist financial management skills.
How does the Cost of Living in Southern Indiana compare nationally?
The Cost of Living Index is 100, meaning it is exactly the same as the national average. This implies that the purchasing power of a Financial Manager's salary in this area is consistent with what one would expect nationally.
Are there many Financial Manager jobs per capita in this area?
With 2.354 jobs per 1,000 workers, the density of Financial Manager roles is present but not exceptionally high. This metric suggests a moderate level of employment for this profession within the local labor force.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 460 employees in the Southern Indiana nonmetropolitan area area with a job density of 2.354 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 Southern Indiana nonmetropolitan area