Average Financial Managers Salary in Southern West Virginia nonmetropolitan area
Financial Managers in the Southern West Virginia nonmetropolitan area earn an average annual salary of $108,190. This figure is notably lower than the national average of $184,480, reflecting the economic landscape and specific industry demands of this region. Factors such as the concentration of businesses, local economic drivers, and the overall cost of doing business contribute to this localized pay scale.
Executive Summary
- Average Salary: $108,190 per year.
- Growth Trend: Salaries have shifted 47.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $169,900.
- Outlook: The job market for Financial Managers in Southern West Virginia, with a total local workforce of 210 professionals, indicates a relatively niche presence. The Location Quotient of 0.52 suggests that this role is less concentrated here compared to the national average, implying a potentially less saturated but perhaps more specialized demand for these skills within the local economy.
Salary Overview
The average Financial Managers in Southern West Virginia nonmetropolitan area earns-41.4%below the national average.
$52
$2,081
$9,016
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, including in regions like Southern West Virginia, have experienced steady growth over the past four years. This trend is typically driven by inflation, increasing complexity in financial regulations, and a consistent demand for skilled financial oversight across various industries.
Financial Managers Salary Distribution in Southern West Virginia nonmetropolitan area
Salary progression for Financial Managers is strongly tied to experience and responsibility. Entry-level positions typically command lower salaries, while senior roles, such as Chief Financial Officers or Directors of Finance, see significant increases. The percentile gaps in salary distributions highlight these opportunities for career advancement, with experienced professionals earning substantially more than their less experienced counterparts.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $60,370 | $29 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $81,143 | $39 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $97,500 | $46.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $135,238 | $65 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $169,900 | $81.7 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$108,190
Gross Pay
Real Wage (Purchasing Power)
$108,190
Adjusted for COL (100)
The average annual salary of $108,190 in Southern West Virginia 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 comparable to the national standard, offering a stable financial environment without the premium often associated with higher cost-of-living areas.
Job Market Context
210
Total Jobs
2.769
Per 1K Jobs
0.52
Location Quotient
Southern West Virginia nonmetropolitan area has 0.52x 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 0.52, the market for Financial Managers in Southern West Virginia is less concentrated than the national average. This suggests that while there may be fewer overall opportunities compared to metropolitan areas, the demand for skilled professionals in this specific sector might be more specialized, potentially leading to less competition for qualified candidates.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Charlottesville, VA Financial Managers Salary | $177,360↑ 64% | 25 mi |
| Richmond, VA Financial Managers Salary | $184,340↑ 70% | 41 mi |
| Staunton-Stuarts Draft, VA Financial Managers Salary | $151,120↑ 40% | 56 mi |
| Harrisonburg, VA Financial Managers Salary | $161,880↑ 50% | 60 mi |
| Lynchburg, VA Financial Managers Salary | $159,490↑ 47% | 61 mi |
Comparing salaries near Southern West Virginia nonmetropolitan area
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Southern West Virginia nonmetropolitan area?
The median annual salary for a Financial Managers in Southern West Virginia nonmetropolitan area is $108,190. This typically ranges from $60,370 for entry-level positions to $169,900 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Southern West Virginia nonmetropolitan area is 41.4% lower than the national median of $184,480.
Is Southern West Virginia nonmetropolitan area a lucrative place for Financial Managers?
No, it is not as lucrative as the national average.While the average salary of $108,190 is substantial, it falls significantly below the national average of $184,480. However, the cost of living being at the national average offsets this difference to some extent.
Is Southern West Virginia nonmetropolitan area a good place to live for Financial Managers?
The Cost of Living Index in Southern West Virginia nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Southern West Virginia nonmetropolitan area?
Some top paying nearby cities include Charlottesville, VA ($177,360) and Richmond, VA.
How does the local workforce size affect job prospects?
A local workforce of 210 Financial Managers suggests a smaller, more specialized job market. This can mean fewer openings but potentially less competition for experienced individuals.
What does a Location Quotient of 0.52 mean for Financial Managers?
A Location Quotient below 1.0, like 0.52, indicates that Financial Managers are less concentrated in Southern West Virginia compared to the rest of the United States, suggesting a lower relative demand or presence in the region.
How does the Cost of Living Index impact the salary?
With a Cost of Living Index of 100, the $108,190 salary has the same purchasing power as the national average. This means your earnings will stretch similarly to what they would nationally, despite the lower nominal salary.
What is the job density for Financial Managers in this area?
There are approximately 2.769 Financial Manager jobs per 1,000 workers in Southern West Virginia, indicating a moderate level of job availability relative to the overall workforce.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 210 employees in the Southern West Virginia nonmetropolitan area area with a job density of 2.769 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 West Virginia nonmetropolitan area