Average Financial Managers Salary in Utica-Rome, NY
Financial Managers in the Utica-Rome, NY area earn an average annual salary of $162,270. This figure is notably below the national average of $184,480, suggesting that local market dynamics, such as industry concentration and demand, play a significant role in compensation levels within this region.
Executive Summary
- Average Salary: $162,270 per year.
- Growth Trend: Salaries have shifted 18.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $243,405.
- Outlook: With a local workforce of 440 Financial Managers, the Utica-Rome area presents a stable, albeit not exceptionally concentrated, job market for this profession. The Location Quotient of 0.71 indicates a slightly lower presence of these roles compared to the national average, suggesting a moderate but consistent demand for financial expertise.
Salary Overview
The average Financial Managers in Utica-Rome, NY earns-12.0%below the national average.
$78
$3,121
$13,523
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that salaries for Financial Managers across the nation, including in regions like Utica-Rome, have experienced steady growth over the past four years, driven by inflation, increasing business complexity, and a persistent need for skilled financial leadership.
Financial Managers Salary Distribution in Utica-Rome, NY
The salary spectrum for Financial Managers in Utica-Rome, NY, naturally widens with experience. Entry-level positions typically command lower salaries, while senior roles, requiring extensive expertise and strategic oversight, can significantly exceed the average. The percentile gaps between junior and senior roles reflect the substantial career progression and earning potential available within this field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $79,950 | $38.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $121,703 | $58.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $139,970 | $67.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $202,838 | $97.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $243,405 | $117 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$162,270
Gross Pay
Real Wage (Purchasing Power)
$162,270
Adjusted for COL (100)
The average annual salary of $162,270 in Utica-Rome, NY, aligns perfectly with the national average cost of living, as indicated by the Cost of Living Index of 100. This means that the purchasing power of a Financial Manager's salary in this region is equivalent to that of their national counterparts, offering a stable financial environment for residents.
Job Market Context
440
Total Jobs
3.782
Per 1K Jobs
0.71
Location Quotient
Utica-Rome, NY has 0.71x 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 0.71 for Financial Managers in Utica-Rome, NY, signifies that the concentration of these roles is 29% lower than the national average. This suggests that while the market is not oversaturated, opportunities may be less abundant compared to more heavily concentrated metropolitan areas, requiring a strategic approach for job seekers.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Syracuse, NY Financial Managers Salary | $166,630↑ 3% | 46 mi |
| Southwest New York nonmetropolitan area Financial Managers Salary | $148,390↓ 9% | 66 mi |
| Central East New York nonmetropolitan area Financial Managers Salary | $157,050↓ 3% | 66 mi |
| Capital/Northern New York nonmetropolitan area Financial Managers Salary | $149,360↓ 8% | 66 mi |
| Watertown-Fort Drum, NY Financial Managers Salary | $150,760↓ 7% | 70 mi |
Comparing salaries near Utica-Rome, NY
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Utica-Rome, NY?
The median annual salary for a Financial Managers in Utica-Rome, NY is $162,270. This typically ranges from $79,950 for entry-level positions to $243,405 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Utica-Rome, NY is 12.0% lower than the national median of $184,480.
Is Utica-Rome, NY a lucrative place for Financial Managers?
No, not exceptionally lucrative compared to the national average.While the average salary of $162,270 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 Utica-Rome, NY a good place to live for Financial Managers?
The Cost of Living Index in Utica-Rome, NY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Utica-Rome, NY?
Some top paying nearby cities include Syracuse, NY ($166,630) and Southwest New York nonmetropolitan area.
How does the Utica-Rome Financial Manager salary compare to the national average?
The average salary for Financial Managers in Utica-Rome, NY, is $162,270, which is lower than the national average of $184,480.
What is the cost of living in Utica-Rome, NY for Financial Managers?
The cost of living in Utica-Rome, NY, is at the national average (index of 100), meaning your salary has the same purchasing power as it would nationally.
How concentrated is the Financial Manager job market in Utica-Rome, NY?
The job market for Financial Managers in Utica-Rome, NY, is less concentrated than the national average, with a Location Quotient of 0.71.
What is the total number of Financial Managers in the Utica-Rome, NY workforce?
There are approximately 440 Financial Managers employed within the Utica-Rome, NY area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 440 employees in the Utica-Rome, NY area with a job density of 3.782 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 Utica-Rome, NY