Average Financial Managers Salary in Toledo, OH
Financial Managers in Toledo, OH, can expect an average annual salary of $139,910. This figure is notably below the national average of $184,480, suggesting that local market dynamics and industry concentrations play a significant role in compensation within this Ohio city. While the nominal salary is lower, understanding the local economic landscape is key to evaluating its true value.
Executive Summary
- Average Salary: $139,910 per year.
- Growth Trend: Salaries have shifted 9.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $232,850.
- Outlook: With a local workforce of 1,140 Financial Managers, Toledo presents a moderate employment base for this profession. The Location Quotient of 0.74 indicates a slightly lower concentration of these roles compared to the national average, suggesting that while opportunities exist, the market may not be as saturated as in other regions. The presence of nearly 4 Financial Manager jobs per 1,000 workers underscores a consistent, albeit not exceptionally high, demand.
Salary Overview
The average Financial Managers in Toledo, OH earns-24.2%below the national average.
$67.3
$2,691
$11,659
Financial Managers Salary Trends (2020-2024)
While specific historical data for Toledo's Financial Manager salaries isn't provided, it's reasonable to assume a general upward trend over the past four years, mirroring national patterns. Economic growth, inflation, and increasing demand for financial expertise typically drive salary increases for skilled professionals in this field, even in regional markets.
Financial Managers Salary Distribution in Toledo, OH
The salary trajectory for Financial Managers in Toledo, OH, typically scales significantly with experience. Entry-level positions may start considerably lower than the $139,910 average, while senior-level roles, particularly those with extensive experience in strategic financial planning, risk management, and corporate finance, can command salaries well above the average. The percentile gaps in earnings highlight clear opportunities for career advancement and increased earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $72,520 | $34.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $104,933 | $50.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $119,440 | $57.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $174,888 | $84.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $232,850 | $111.9 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$139,910
Gross Pay
Real Wage (Purchasing Power)
$139,910
Adjusted for COL (100)
The average nominal salary of $139,910 in Toledo, OH, is positioned directly against a Cost of Living Index of 100, which is precisely the national average. This means that the purchasing power of a Financial Manager's salary in Toledo is equivalent to the national standard, offering a balanced financial environment where the income aligns with the general cost of goods and services.
Job Market Context
1,140
Total Jobs
3.903
Per 1K Jobs
0.74
Location Quotient
Toledo, OH has 0.74x 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 0.74 for Financial Managers in Toledo, OH, indicates that the profession is less concentrated locally than the national average. This suggests that while there is a stable presence of these roles, the market is not overly saturated, potentially offering a competitive landscape for skilled professionals seeking opportunities. Companies may need to actively recruit to fill specialized financial management positions.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Monroe, MI Financial Managers Salary | $156,880↑ 12% | 20 mi |
| Ann Arbor, MI Financial Managers Salary | $162,830↑ 16% | 43 mi |
| Sandusky, OH Financial Managers Salary | $126,250↓ 10% | 48 mi |
| Detroit-Warren-Dearborn, MI Financial Managers Salary | $161,410↑ 15% | 54 mi |
| Jackson, MI Financial Managers Salary | $143,790↑ 3% | 58 mi |
Comparing salaries near Toledo, OH
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Toledo, OH?
The median annual salary for a Financial Managers in Toledo, OH is $139,910. This typically ranges from $72,520 for entry-level positions to $232,850 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Toledo, OH is 24.2% lower than the national median of $184,480.
Is Toledo, OH a lucrative place for Financial Managers?
No, not exceptionally lucrative compared to the national average.While the average salary of $139,910 is substantial, it falls below the national average of $184,480. However, the cost of living is also at the national average, making the salary's purchasing power comparable.
Is Toledo, OH a good place to live for Financial Managers?
The Cost of Living Index in Toledo, OH is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Toledo, OH?
Some top paying nearby cities include Monroe, MI ($156,880) and Ann Arbor, MI.
How does Toledo's Financial Manager salary compare to the national average?
The average salary for Financial Managers in Toledo, OH, is $139,910, which is approximately 24% lower than the national average of $184,480.
What is the Cost of Living in Toledo, OH for Financial Managers?
Toledo, OH, has a Cost of Living Index of 100, which is exactly the national average. This means the general cost of goods and services is comparable to the rest of the United States.
How concentrated are Financial Manager jobs in Toledo, OH?
The concentration of Financial Manager jobs in Toledo, OH, is indicated by a Location Quotient of 0.74, meaning it is less concentrated than the national average.
What is the total number of Financial Managers employed in Toledo, OH?
There are approximately 1,140 Financial Managers employed in Toledo, OH, representing a significant local workforce for this profession.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,140 employees in the Toledo, OH area with a job density of 3.903 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 Toledo, OH