SalaryNode

Average Financial Managers Salary in Syracuse, NY

Financial Managers in Syracuse, NY, earn an average annual salary of $166,630. This figure is notably below the national average of $184,480, suggesting that local market dynamics, such as industry demand and the specific economic landscape of Syracuse, play a significant role in compensation levels.

Executive Summary

  • Average Salary: $166,630 per year.
  • Growth Trend: Salaries have shifted 11.3% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $249,945.
  • Outlook: With a local workforce of 1,040 Financial Managers, Syracuse presents a moderate employment base for this profession. The Location Quotient of 0.66 indicates that the concentration of these roles is somewhat lower than the national average, implying a potentially less saturated but also less robust job market compared to national trends.
2024 Market Data

Salary Overview

$166,630

The average Financial Managers in Syracuse, NY earns-9.7%below the national average.

BreakdownBased on 40h/week
Hourly

$80.1

Weekly

$3,204

Monthly

$13,886

Financial Managers Salary Distribution in Syracuse, NY

The salary range for Financial Managers in Syracuse, NY, typically widens significantly with experience. Entry-level positions may start at a lower percentile, while senior-level roles command higher salaries, often reaching into the upper percentiles. These percentile gaps are crucial indicators of career progression and the increasing value placed on expertise and leadership within the field.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$84,970$40.9
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$124,973$60.1
ManagerOversees team, compliance, and project delivery.50% (Median)$145,180$69.8
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$208,288$100.1
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$249,945$120.2

Detailed Financial Managers Market Analysis

Relocation Context

Nominal Salary

$166,630

Gross Pay

Real Wage (Purchasing Power)

$166,630

Adjusted for COL (100)

The average nominal salary of $166,630 in Syracuse 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 Syracuse is equivalent to the national average, indicating a stable financial environment where earnings are neither significantly enhanced nor diminished by local living expenses.

Job Market Context

1,040

Total Jobs

3.529

Per 1K Jobs

0.66

Location Quotient

Below Average

Syracuse, NY has 0.66x 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 0.66 for Financial Managers in Syracuse suggests that the profession is less concentrated locally compared to the national average. This could mean fewer job opportunities relative to the overall workforce, but it might also indicate less competition for experienced professionals, potentially offering a unique advantage for those seeking to establish or advance their careers in the region.

Nearby Job Markets

Nearby Cities for Financial Managers

CitySalaryDist.
Ithaca, NY Financial Managers Salary$161,000↓ 3%45 mi
Utica-Rome, NY Financial Managers Salary$162,270↓ 3%46 mi
Watertown-Fort Drum, NY Financial Managers Salary$150,760↓ 10%66 mi
Binghamton, NY Financial Managers Salary$168,700↑ 1%66 mi
Elmira, NY Financial Managers Salary$157,610↓ 5%74 mi

Comparing salaries near Syracuse, NY

Hiring Financial Managerss?

Frequently Asked Questions

How much does a Financial Managers make in Syracuse, NY?

The median annual salary for a Financial Managers in Syracuse, NY is $166,630. This typically ranges from $84,970 for entry-level positions to $249,945 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Syracuse, NY is 9.7% lower than the national median of $184,480.

Is Syracuse, NY a lucrative place for Financial Managers?

No, not when compared to the national average.While the average salary of $166,630 is substantial, it falls below the national average of $184,480. However, the cost of living is on par with the national average, meaning the salary's purchasing power is equivalent.

Is Syracuse, NY a good place to live for Financial Managers?

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

Where are the highest paying cities near Syracuse, NY?

Some top paying nearby cities include Ithaca, NY ($161,000) and Utica-Rome, NY.

What is the average salary for a Financial Manager in Syracuse, NY?

The average annual salary for a Financial Manager in Syracuse, NY, is $166,630.

How does Syracuse's cost of living compare nationally?

Syracuse, NY, has a Cost of Living Index of 100, which is exactly the national average.

Is the job market for Financial Managers strong in Syracuse?

The job market is moderately sized with a total local workforce of 1,040 Financial Managers. The Location Quotient of 0.66 indicates a lower concentration than the national average.

How does experience affect a Financial Manager's salary in Syracuse?

Experience significantly impacts salary, with senior roles commanding higher compensation than entry-level positions, reflecting increased responsibility and expertise.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,040 employees in the Syracuse, NY area with a job density of 3.529 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 Syracuse, NY