Average Financial Managers Salary in Southern Michigan nonmetropolitan area
Financial Managers in Southern Michigan's nonmetropolitan area earn an average annual salary of $140,670. This figure is notably below the national average of $184,480, reflecting regional economic factors and a potentially smaller market demand for highly specialized financial roles. The compensation is influenced by the specific industry mix and the overall economic vitality of the nonmetropolitan landscape.
Executive Summary
- Average Salary: $140,670 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $218,020.
- Outlook: The job market for Financial Managers in Southern Michigan's nonmetropolitan area, with a total workforce of 480, indicates a moderate presence. The Location Quotient of 0.67 suggests that this profession is less concentrated here compared to the national average, implying a stable but not exceptionally robust demand. While the absolute number of professionals is modest, the concentration level points to a market that is neither saturated nor experiencing explosive growth, offering steady opportunities.
Salary Overview
The average Financial Managers in Southern Michigan nonmetropolitan area earns-23.7%below the national average.
$67.6
$2,705
$11,723
Financial Managers Salary Trends (2020-2024)
While specific historical data for this nonmetropolitan region is not provided, it is generally assumed that salaries for Financial Managers across the nation, including in areas like Southern Michigan, have experienced a steady upward trend over the past four years. This growth is typically driven by inflation, increasing complexity in financial regulations, and a persistent need for skilled financial oversight in businesses of all sizes.
Financial Managers Salary Distribution in Southern Michigan nonmetropolitan area
Career progression for Financial Managers in Southern Michigan's nonmetropolitan area typically sees significant salary increases with experience. Entry-level positions might start considerably lower than the average, while senior roles, those with extensive experience and leadership responsibilities, can command salaries well above the $140,670 mark. The percentile gaps between junior and senior roles highlight the substantial earning potential and career advancement available within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $77,960 | $37.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $105,503 | $50.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $129,000 | $62 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $175,838 | $84.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $218,020 | $104.8 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$140,670
Gross Pay
Real Wage (Purchasing Power)
$140,670
Adjusted for COL (100)
The average annual salary of $140,670 in Southern Michigan's 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. While the nominal salary is lower than the national average, the equivalent cost of living suggests that the take-home pay may offer comparable lifestyle benefits to those in higher-cost metropolitan areas.
Job Market Context
480
Total Jobs
3.551
Per 1K Jobs
0.67
Location Quotient
Southern Michigan nonmetropolitan area has 0.67x 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 0.67, the job market for Financial Managers in Southern Michigan's nonmetropolitan area is less concentrated than the national average. This indicates that while there are opportunities, the field is not as densely populated with professionals as in major economic hubs. This lower concentration suggests a potentially less competitive environment for job seekers, but also implies that the demand may be more niche or tied to specific local industries.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Midland, MI Financial Managers Salary | $196,360↑ 40% | 26 mi |
| Saginaw, MI Financial Managers Salary | $135,120↓ 4% | 30 mi |
| Bay City, MI Financial Managers Salary | $139,330↓ 1% | 37 mi |
| Lansing-East Lansing, MI Financial Managers Salary | $145,170↑ 3% | 42 mi |
| Flint, MI Financial Managers Salary | $144,060↑ 2% | 47 mi |
Comparing salaries near Southern Michigan nonmetropolitan area
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Southern Michigan nonmetropolitan area?
The median annual salary for a Financial Managers in Southern Michigan nonmetropolitan area is $140,670. This typically ranges from $77,960 for entry-level positions to $218,020 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Southern Michigan nonmetropolitan area is 23.7% lower than the national median of $184,480.
Is Southern Michigan nonmetropolitan area a lucrative place for Financial Managers?
No, not exceptionally lucrative compared to the national average.While the average salary of $140,670 is substantial, it falls below the national average of $184,480, indicating less lucrative compensation. However, the cost of living being at the national average means the salary's purchasing power is on par nationally.
Is Southern Michigan nonmetropolitan area a good place to live for Financial Managers?
The Cost of Living Index in Southern Michigan nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Southern Michigan nonmetropolitan area?
Some top paying nearby cities include Midland, MI ($196,360) and Saginaw, MI.
How does the total workforce size affect job prospects?
A total local workforce of 480 suggests a smaller pool of potential employers and opportunities compared to larger metropolitan areas, potentially leading to a more stable but less dynamic job market for Financial Managers.
What does a Location Quotient of 0.67 signify?
A Location Quotient of 0.67 means that Financial Managers are 33% less concentrated in Southern Michigan's nonmetropolitan area than the national average, indicating fewer job opportunities relative to the national landscape.
How does the Cost of Living Index impact the salary?
With a Cost of Living Index of 100, the $140,670 salary in Southern Michigan has the same purchasing power as the national average salary, meaning expenses are neither significantly higher nor lower than the national norm.
Are there many Financial Manager jobs per 1,000 workers in this area?
With 3.551 jobs per 1,000 workers, the density of Financial Manager roles is moderate, suggesting a consistent but not overwhelming demand for these professionals in the Southern Michigan nonmetropolitan region.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 480 employees in the Southern Michigan nonmetropolitan area area with a job density of 3.551 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 Michigan nonmetropolitan area