Average Financial Managers Salary in Springfield, MA
Financial Managers in Springfield, MA, earn an average annual salary of $173,950. This figure is slightly below the national average of $184,480, indicating a localized compensation structure influenced by regional economic factors and industry demand within the Springfield area. While not reaching the national benchmark, this salary reflects the critical role these professionals play in the local business ecosystem.
Executive Summary
- Average Salary: $173,950 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $260,925.
- Outlook: The job market for Financial Managers in Springfield, MA, appears stable with a total local workforce of 950 professionals. A Location Quotient of 0.9 suggests that the concentration of these roles is nearly on par with the national average, indicating a consistent, albeit not exceptionally high, demand for financial management expertise within the region. The presence of nearly 5 Financial Manager jobs per 1,000 workers further supports a steady employment landscape.
Salary Overview
The average Financial Managers in Springfield, MA earns-5.7%below the national average.
$83.6
$3,345
$14,496
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Financial Managers in Springfield, MA, have experienced growth over the past four years, mirroring national trends of increasing compensation for skilled financial professionals. This upward trajectory is typically driven by inflation, evolving market demands, and the increasing complexity of financial operations.
Financial Managers Salary Distribution in Springfield, MA
Salary progression for Financial Managers in Springfield, MA, is significantly influenced by experience and expertise. Entry-level positions typically command lower salaries, while senior roles, requiring extensive experience and strategic oversight, can reach substantially higher compensation levels. The variance between different salary percentiles highlights a clear career ladder, rewarding accumulated knowledge and proven performance.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $88,540 | $42.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $130,463 | $62.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $164,790 | $79.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $217,438 | $104.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $260,925 | $125.4 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$173,950
Gross Pay
Real Wage (Purchasing Power)
$173,950
Adjusted for COL (100)
The average annual salary of $173,950 in Springfield, MA, aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of a Financial Manager's salary in Springfield is equivalent to the national average, providing a stable financial foundation without the added pressure of a higher or lower cost of living.
Job Market Context
950
Total Jobs
4.765
Per 1K Jobs
0.9
Location Quotient
Springfield, MA has 0.90x 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 0.9, Springfield, MA, presents a job market for Financial Managers that is closely aligned with the national average in terms of concentration. This suggests a balanced market where opportunities exist, but the intense competition or oversupply seen in highly concentrated areas is not present, offering a potentially stable environment for career growth.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Amherst Town-Northampton, MA Financial Managers Salary | $151,860↓ 13% | 18 mi |
| Hartford-West Hartford-East Hartford, CT Financial Managers Salary | $180,060↑ 4% | 25 mi |
| Connecticut nonmetropolitan area Financial Managers Salary | $151,860↓ 13% | 37 mi |
| Worcester, MA Financial Managers Salary | $175,840↑ 1% | 39 mi |
| Pittsfield, MA Financial Managers Salary | $162,140↓ 7% | 44 mi |
Comparing salaries near Springfield, MA
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Springfield, MA?
The median annual salary for a Financial Managers in Springfield, MA is $173,950. This typically ranges from $88,540 for entry-level positions to $260,925 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Springfield, MA is 5.7% lower than the national median of $184,480.
Is Springfield, MA a lucrative place for Financial Managers?
Yes, Springfield, MA offers a competitive salary for Financial Managers.The average salary of $173,950 is substantial, and with a cost of living index at the national average, the purchasing power is strong. The market concentration is also stable, indicating consistent demand.
Is Springfield, MA a good place to live for Financial Managers?
The Cost of Living Index in Springfield, MA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Springfield, MA?
Some top paying nearby cities include Amherst Town-Northampton, MA ($151,860) and Hartford-West Hartford-East Hartford, CT.
How does the Springfield, MA Financial Manager salary compare to the national average?
Financial Managers in Springfield, MA, earn an average of $173,950 annually, which is slightly lower than the national average of $184,480.
What is the concentration of Financial Managers in Springfield, MA?
The Location Quotient for Financial Managers in Springfield, MA, is 0.9, indicating a concentration that is very close to the national average.
How does the cost of living in Springfield, MA affect salary perception?
Springfield, MA, has a cost of living index of 100, which is the national average. This means the $173,950 salary has the same purchasing power as the national average salary.
What is the total number of Financial Managers in Springfield, MA?
There are approximately 950 Financial Managers employed in the Springfield, MA area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 950 employees in the Springfield, MA area with a job density of 4.765 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 Springfield, MA