Average Financial Managers Salary in Southwest New York nonmetropolitan area
Financial Managers in the Southwest New York nonmetropolitan area earn an average annual salary of $148,390. This figure is notably below the national average of $184,480, suggesting that regional economic factors and industry concentration play a significant role in compensation within this specific locale. The lower average may reflect a different market dynamic compared to more densely populated or industrially diverse areas.
Executive Summary
- Average Salary: $148,390 per year.
- Growth Trend: Salaries have shifted 0.6% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $222,585.
- Outlook: With a local workforce of 490 Financial Managers, the demand in the Southwest New York nonmetropolitan area appears moderate. The Location Quotient of 0.52 indicates that this profession is less concentrated here than the national average, suggesting fewer specialized opportunities but potentially less competition for those seeking roles. The presence of 2.764 jobs per 1,000 workers points to a steady, albeit not booming, job market for these professionals.
Salary Overview
The average Financial Managers in Southwest New York nonmetropolitan area earns-19.6%below the national average.
$71.3
$2,854
$12,366
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that salaries for Financial Managers have seen consistent growth over the past four years, mirroring broader economic trends and increasing demand for financial expertise. This upward trajectory is likely influenced by inflation, evolving market demands, and the increasing complexity of financial regulations, pushing average compensation higher even in nonmetropolitan regions.
Financial Managers Salary Distribution in Southwest New York nonmetropolitan area
Salary progression for Financial Managers typically scales significantly with experience. Entry-level positions often start at the lower end of the pay scale, while seasoned professionals with extensive experience and specialized skills can command salaries well into the upper percentiles. The widening gap between entry-level and senior roles, often seen in percentile distributions, clearly signifies substantial career progression and increased earning potential over time.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $68,720 | $33 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $111,293 | $53.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $126,330 | $60.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $185,488 | $89.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $222,585 | $107 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$148,390
Gross Pay
Real Wage (Purchasing Power)
$148,390
Adjusted for COL (100)
The average annual salary of $148,390 in the Southwest New York 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 a Financial Manager earning the national average in a location with a national average cost of living. Therefore, the nominal salary translates directly to the national average standard of living.
Job Market Context
490
Total Jobs
2.764
Per 1K Jobs
0.52
Location Quotient
Southwest New York 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.
A Location Quotient of 0.52 for Financial Managers in the Southwest New York nonmetropolitan area signifies that this profession is less concentrated locally compared to the national average. This suggests that while there are established roles, the market is not saturated, and opportunities may be more specialized or tied to specific local industries rather than a broad demand across various sectors. It indicates a market that is less competitive in terms of sheer numbers but requires careful targeting of available positions.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Binghamton, NY Financial Managers Salary | $168,700↑ 14% | 49 mi |
| Kingston, NY Financial Managers Salary | $177,200↑ 19% | 51 mi |
| Scranton--Wilkes-Barre, PA Financial Managers Salary | $136,520↓ 8% | 64 mi |
| Utica-Rome, NY Financial Managers Salary | $162,270↑ 9% | 66 mi |
| Albany-Schenectady-Troy, NY Financial Managers Salary | $167,180↑ 13% | 68 mi |
Comparing salaries near Southwest New York nonmetropolitan area
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Frequently Asked Questions
How much does a Financial Managers make in Southwest New York nonmetropolitan area?
The median annual salary for a Financial Managers in Southwest New York nonmetropolitan area is $148,390. This typically ranges from $68,720 for entry-level positions to $222,585 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Southwest New York nonmetropolitan area is 19.6% lower than the national median of $184,480.
Is Southwest New York nonmetropolitan area a lucrative place for Financial Managers?
No, it is not as lucrative as the national average.Financial Managers in this area earn $148,390, which is below the national average of $184,480. However, the cost of living is also at the national average, meaning the salary's purchasing power is equivalent nationally.
Is Southwest New York nonmetropolitan area a good place to live for Financial Managers?
The Cost of Living Index in Southwest New York nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Southwest New York nonmetropolitan area?
Some top paying nearby cities include Binghamton, NY ($168,700) and Kingston, NY.
What is the average salary for a Financial Manager in Southwest New York nonmetropolitan area?
The average annual salary for a Financial Manager in the Southwest New York nonmetropolitan area is $148,390.
How does the salary compare to the national average?
The average salary of $148,390 is lower than the national average of $184,480 for Financial Managers.
What is the cost of living in this area compared to the national average?
The cost of living in the Southwest New York nonmetropolitan area is exactly at the national average, with an index of 100.
How concentrated is the Financial Manager job market in this region?
The job market for Financial Managers is less concentrated than the national average, with a Location Quotient of 0.52, indicating fewer specialized roles relative to the national landscape.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 490 employees in the Southwest New York nonmetropolitan area area with a job density of 2.764 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 Southwest New York nonmetropolitan area