Average Financial Managers Salary in Southside Virginia nonmetropolitan area
Financial Managers in the Southside Virginia nonmetropolitan area earn an average annual salary of $129,530. This figure is notably below the national average of $184,480, reflecting regional economic factors and a different market dynamic compared to larger metropolitan hubs. The specific economic landscape and demand within this nonmetropolitan region directly influence compensation levels for finance professionals.
Executive Summary
- Average Salary: $129,530 per year.
- Growth Trend: Salaries have shifted 28.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $205,780.
- Outlook: The job market for Financial Managers in Southside Virginia, with a total local workforce of 260 professionals, indicates a niche but present demand. The Location Quotient of 0.47 suggests that while the concentration of these roles is lower than the national average, the existence of 2.503 jobs per 1,000 workers points to a stable, albeit specialized, employment environment.
Salary Overview
The average Financial Managers in Southside Virginia nonmetropolitan area earns-29.8%below the national average.
$62.3
$2,491
$10,794
Financial Managers Salary Trends (2020-2024)
While specific historical data for this nonmetropolitan area is not provided, it's generally assumed that salaries for Financial Managers across the nation, including in regions like Southside Virginia, have experienced steady growth over the past four years. This trend is typically driven by increasing complexity in financial regulations, evolving business needs, and the persistent demand for skilled financial oversight.
Financial Managers Salary Distribution in Southside Virginia nonmetropolitan area
Career progression for Financial Managers significantly impacts earning potential. Entry-level positions often start at the lower percentiles of the salary range, while seasoned professionals with extensive experience and specialized skills can command salaries in the higher percentiles. The gap between entry-level and senior roles signifies substantial opportunities for salary growth as one advances through various levels of responsibility and expertise.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $76,610 | $36.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $97,148 | $46.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $110,300 | $53 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $161,913 | $77.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $205,780 | $98.9 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$129,530
Gross Pay
Real Wage (Purchasing Power)
$129,530
Adjusted for COL (100)
The average annual salary of $129,530 in Southside Virginia aligns perfectly with the national 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 stable financial standing relative to the cost of goods and services.
Job Market Context
260
Total Jobs
2.503
Per 1K Jobs
0.47
Location Quotient
At 0.47x, Southside Virginia 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.
With a Location Quotient of 0.47, the market for Financial Managers in Southside Virginia is less concentrated than the national average. This suggests that while there are fewer Financial Managers relative to the national proportion of the workforce, the jobs available are integral to the local economy, potentially offering unique opportunities for those seeking specialized roles.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Charlottesville, VA Financial Managers Salary | $177,360↑ 37% | 25 mi |
| Richmond, VA Financial Managers Salary | $184,340↑ 42% | 41 mi |
| Staunton-Stuarts Draft, VA Financial Managers Salary | $151,120↑ 17% | 56 mi |
| Harrisonburg, VA Financial Managers Salary | $161,880↑ 25% | 60 mi |
| Lynchburg, VA Financial Managers Salary | $159,490↑ 23% | 61 mi |
Comparing salaries near Southside Virginia nonmetropolitan area
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Southside Virginia nonmetropolitan area?
The median annual salary for a Financial Managers in Southside Virginia nonmetropolitan area is $129,530. This typically ranges from $76,610 for entry-level positions to $205,780 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Southside Virginia nonmetropolitan area is 29.8% lower than the national median of $184,480.
Is Southside Virginia nonmetropolitan area a lucrative place for Financial Managers?
No, not compared to the national average.While the average salary of $129,530 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 stable locally.
Is Southside Virginia nonmetropolitan area a good place to live for Financial Managers?
The Cost of Living Index in Southside Virginia nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Southside 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 260 Financial Managers suggests a smaller, more specialized job market. This can mean fewer opportunities but potentially less competition for experienced professionals.
What does a Location Quotient of 0.47 mean for Financial Managers?
A Location Quotient below 1.0, like 0.47, indicates that Financial Managers are less concentrated in Southside Virginia compared to the rest of the U.S. This implies a lower demand relative to the national average.
How does the Cost of Living Index impact the salary?
With a Cost of Living Index of 100, the local expenses are on par with the national average. Therefore, the $129,530 salary offers a purchasing power equivalent to the national average, making it relatively stable.
Are there many Financial Manager jobs per 1,000 workers in Southside Virginia?
There are 2.503 Financial Manager jobs per 1,000 workers, which is a moderate indicator of job availability within this specific 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 260 employees in the Southside Virginia nonmetropolitan area area with a job density of 2.503 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 Southside Virginia nonmetropolitan area