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Average Financial Managers Salary in Spartanburg, SC

Financial Managers in Spartanburg, SC, can expect an average annual salary of $150,360. This figure is notably below the national average of $184,480, suggesting that local market dynamics and potentially a lower demand for specialized financial expertise in the region contribute to this compensation difference. Understanding these local factors is crucial for career and financial planning.

Executive Summary

  • Average Salary: $150,360 per year.
  • Growth Trend: Salaries have shifted 14.2% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $232,220.
  • Outlook: With a local workforce of 500 Financial Managers, Spartanburg presents a moderate employment landscape. The Location Quotient of 0.58 indicates that this role is less concentrated in Spartanburg compared to the national average, suggesting a potentially less saturated market but also possibly lower overall demand for these specialized positions within the immediate area.
2024 Market Data

Salary Overview

$150,360

The average Financial Managers in Spartanburg, SC earns-18.5%below the national average.

BreakdownBased on 40h/week
Hourly

$72.3

Weekly

$2,892

Monthly

$12,530

Financial Managers Salary Distribution in Spartanburg, SC

The salary trajectory for Financial Managers in Spartanburg, SC, typically escalates with experience. Entry-level positions might start significantly lower than the average, while seasoned professionals with extensive experience and specialized skills can command salaries well above the $150,360 mark, potentially reaching into higher percentiles and reflecting significant career progression.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$74,990$36.1
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$112,770$54.2
ManagerOversees team, compliance, and project delivery.50% (Median)$128,980$62
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$187,950$90.4
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$232,220$111.6

Detailed Financial Managers Market Analysis

Relocation Context

Nominal Salary

$150,360

Gross Pay

Real Wage (Purchasing Power)

$150,360

Adjusted for COL (100)

The average annual salary of $150,360 in Spartanburg, SC, aligns perfectly with the national average cost of living (Index 100). This means that the purchasing power of a Financial Manager's salary in Spartanburg is equivalent to the national average, offering a stable financial footing without the added pressure of higher living expenses.

Job Market Context

500

Total Jobs

3.079

Per 1K Jobs

0.58

Location Quotient

Below Average

Spartanburg, SC has 0.58x 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 0.58 signifies that Financial Managers are less prevalent in Spartanburg relative to the national average. This suggests that while the demand might not be as robust as in larger metropolitan areas, professionals in this field may find fewer direct competitors, potentially offering a unique advantage for skilled individuals seeking opportunities.

Nearby Job Markets

Nearby Cities for Financial Managers

CitySalaryDist.
Greenville-Anderson-Greer, SC Financial Managers Salary$149,840↓ 0%26 mi
Asheville, NC Financial Managers Salary$155,040↑ 3%56 mi
Charlotte-Concord-Gastonia, NC-SC Financial Managers Salary$190,080↑ 26%64 mi
Hickory-Lenoir-Morganton, NC Financial Managers Salary$153,920↑ 2%65 mi
Columbia, SC Financial Managers Salary$134,420↓ 11%85 mi

Comparing salaries near Spartanburg, SC

Hiring Financial Managerss?

Frequently Asked Questions

How much does a Financial Managers make in Spartanburg, SC?

The median annual salary for a Financial Managers in Spartanburg, SC is $150,360. This typically ranges from $74,990 for entry-level positions to $232,220 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Spartanburg, SC is 18.5% lower than the national median of $184,480.

Is Spartanburg, SC a lucrative place for Financial Managers?

No, not compared to the national average.While the average salary of $150,360 is substantial, it falls short of the national average of $184,480. However, the cost of living is at the national average, making the salary's purchasing power comparable.

Is Spartanburg, SC a good place to live for Financial Managers?

The Cost of Living Index in Spartanburg, SC is 100. While higher than average, this often correlates with higher wages.

Where are the highest paying cities near Spartanburg, SC?

Some top paying nearby cities include Greenville-Anderson-Greer, SC ($149,840) and Asheville, NC.

What is the average salary for a Financial Manager in Spartanburg, SC?

The average annual salary for a Financial Manager in Spartanburg, SC, is $150,360.

How does Spartanburg's Financial Manager salary compare to the national average?

The average salary in Spartanburg ($150,360) is lower than the national average ($184,480).

What is the cost of living in Spartanburg, SC for Financial Managers?

The cost of living in Spartanburg, SC, is at the national average, indicated by an index of 100.

How concentrated are Financial Manager jobs in Spartanburg, SC?

Financial Manager jobs are less concentrated in Spartanburg, SC, with a Location Quotient of 0.58, meaning they are less prevalent than the national average.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 500 employees in the Spartanburg, SC area with a job density of 3.079 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Financial Managers • Data source: BLS OEWS 2024 •Jobs in Spartanburg, SC