Average Financial Managers Salary in Southwest Virginia nonmetropolitan area
Financial Managers in Southwest Virginia nonmetropolitan area earn an average annual salary of $140,310. This figure is notably below the national average of $184,480, reflecting regional economic factors and demand specific to this nonmetropolitan setting. The compensation structure in this area is influenced by the local industry mix and the overall economic landscape, which differs significantly from major metropolitan hubs.
Executive Summary
- Average Salary: $140,310 per year.
- Growth Trend: Salaries have shifted 40.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $214,990.
- Outlook: With a local workforce of 250 Financial Managers and a Location Quotient of 0.4, the job market in Southwest Virginia nonmetropolitan area indicates a lower concentration of these professionals compared to the national average. While the absolute number of jobs is modest, the presence of 2.116 jobs per 1,000 workers suggests a steady, albeit not booming, demand within the region's specific economic context.
Salary Overview
The average Financial Managers in Southwest Virginia nonmetropolitan area earns-23.9%below the national average.
$67.5
$2,698
$11,693
Financial Managers Salary Trends (2020-2024)
While specific historical data for Southwest Virginia nonmetropolitan area is not provided, it is generally assumed that salaries for Financial Managers nationwide have experienced consistent growth over the past four years, driven by inflation, increased demand for financial expertise, and evolving industry needs. This trend likely extends to this region, though potentially at a moderated pace compared to more dynamic economic centers.
Financial Managers Salary Distribution in Southwest Virginia 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 specialized skills and extensive track records can command salaries well into the upper percentiles. The gap between entry-level and senior roles highlights the substantial career growth and earning potential within this field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $74,990 | $36.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $105,233 | $50.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $123,970 | $59.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $175,388 | $84.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $214,990 | $103.4 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$140,310
Gross Pay
Real Wage (Purchasing Power)
$140,310
Adjusted for COL (100)
The average annual salary of $140,310 in Southwest Virginia nonmetropolitan area 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, suggesting that while the nominal salary is lower than the national average, the cost of living does not present a disadvantage in terms of real income.
Job Market Context
250
Total Jobs
2.116
Per 1K Jobs
0.4
Location Quotient
At 0.40x, Southwest 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.
A Location Quotient of 0.4 signifies that Financial Managers are less concentrated in Southwest Virginia nonmetropolitan area than the national average. This suggests a less saturated job market, which could present opportunities for skilled professionals, but also indicates a potentially smaller pool of specialized roles or a lower overall demand compared to more heavily populated or economically diverse regions.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Charlottesville, VA Financial Managers Salary | $177,360↑ 26% | 25 mi |
| Richmond, VA Financial Managers Salary | $184,340↑ 31% | 41 mi |
| Staunton-Stuarts Draft, VA Financial Managers Salary | $151,120↑ 8% | 56 mi |
| Harrisonburg, VA Financial Managers Salary | $161,880↑ 15% | 60 mi |
| Lynchburg, VA Financial Managers Salary | $159,490↑ 14% | 61 mi |
Comparing salaries near Southwest Virginia nonmetropolitan area
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Southwest Virginia nonmetropolitan area?
The median annual salary for a Financial Managers in Southwest Virginia nonmetropolitan area is $140,310. This typically ranges from $74,990 for entry-level positions to $214,990 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Southwest Virginia nonmetropolitan area is 23.9% lower than the national median of $184,480.
Is Southwest Virginia nonmetropolitan area a lucrative place for Financial Managers?
No, it is not as lucrative as the national average.While the average salary of $140,310 is substantial, it falls significantly below the national average of $184,480. However, the cost of living is also at the national average, making the real income comparable.
Is Southwest Virginia nonmetropolitan area a good place to live for Financial Managers?
The Cost of Living Index in Southwest Virginia nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Southwest Virginia nonmetropolitan area?
Some top paying nearby cities include Charlottesville, VA ($177,360) and Richmond, VA.
How does the local workforce size affect Financial Manager jobs in Southwest Virginia?
A local workforce of 250 Financial Managers indicates a relatively small but established presence of the profession within the region, suggesting a stable demand tied to the local economy's needs.
What does a Location Quotient of 0.4 mean for Financial Managers in this area?
A Location Quotient of 0.4 means that Financial Managers are less concentrated in Southwest Virginia nonmetropolitan area compared to the national average, implying a less competitive market but potentially fewer specialized opportunities.
How does the cost of living in Southwest Virginia compare to the national average?
The Cost of Living Index is 100, which is exactly the national average. This means that the purchasing power of a Financial Manager's salary in this region is on par with the national average, despite the lower nominal salary.
What is the job density for Financial Managers in Southwest Virginia?
There are 2.116 Financial Manager jobs per 1,000 workers in Southwest Virginia nonmetropolitan area, 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 250 employees in the Southwest Virginia nonmetropolitan area area with a job density of 2.116 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 Virginia nonmetropolitan area