Average Financial Managers Salary in Virgin Islands
Financial Managers in the Virgin Islands earn an average annual salary of $109,820. This figure is notably lower than the national average of $184,480, reflecting a unique economic landscape. Factors such as the specific industry demands and the island's economic drivers likely contribute to this localized pay scale.
Executive Summary
- Average Salary: $109,820 per year.
- Growth Trend: Salaries have shifted 21.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $165,930.
- Outlook: With a local workforce of 230 Financial Managers, the market in the Virgin Islands demonstrates a moderate concentration of talent. The Location Quotient of 1.29 suggests a slightly higher presence of these professionals compared to the national average, indicating a stable, albeit not booming, demand for their expertise within the territory.
Salary Overview
The average Financial Managers in Virgin Islands earns-40.5%below the national average.
$52.8
$2,112
$9,152
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Financial Managers in the Virgin Islands have experienced gradual growth over the past four years, mirroring general economic trends and inflation. This suggests a consistent, albeit potentially modest, upward trajectory in compensation for experienced professionals in this sector.
Financial Managers Salary Distribution in Virgin Islands
Salary progression for Financial Managers in the Virgin Islands typically scales with experience. Entry-level positions will command lower salaries, while senior roles with extensive experience and specialized skills can significantly exceed the average. The percentile gaps in earnings highlight clear opportunities for career advancement and increased earning potential within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $62,720 | $30.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $82,365 | $39.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $85,530 | $41.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $137,275 | $66 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $165,930 | $79.8 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$109,820
Gross Pay
Real Wage (Purchasing Power)
$91,517
Adjusted for COL (120)
The average nominal salary of $109,820 in the Virgin Islands must be considered alongside its Cost of Living Index of 120. This index, which is 20% higher than the national average, means that the purchasing power of the local salary is somewhat diminished. While the salary is substantial, the higher cost of goods and services will impact the real value of earnings.
Job Market Context
230
Total Jobs
6.849
Per 1K Jobs
1.29
Location Quotient
With a location quotient of 1.29, Virgin Islands has a slightly higher-than-average concentration of Financial Managers roles compared to the national norm.
A Location Quotient of 1.29 indicates that Financial Managers are more concentrated in the Virgin Islands than in the average U.S. location. This suggests a slightly more competitive job market for these professionals, but also signifies a recognized need for their skills within the local economy. Companies may find a good pool of talent, but competition for top roles could be present.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| San Juan-Bayamon-Caguas, PR Financial Managers Salary | $99,260↓ 10% | 76 mi |
Comparing salaries near Virgin Islands
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Frequently Asked Questions
How much does a Financial Managers make in Virgin Islands?
The median annual salary for a Financial Managers in Virgin Islands is $109,820. This typically ranges from $62,720 for entry-level positions to $165,930 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Virgin Islands is 40.5% lower than the national median of $184,480.
Is Virgin Islands a lucrative place for Financial Managers?
Yes, with caveats.While the average salary is lower than the national average, the concentration of Financial Managers (LQ 1.29) suggests demand. However, the higher cost of living (120) means the purchasing power of this salary is reduced compared to national averages.
Is Virgin Islands a good place to live for Financial Managers?
The Cost of Living Index in Virgin Islands is 120. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Virgin Islands?
Some top paying nearby cities include San Juan-Bayamon-Caguas, PR ($99,260) and others.
How does the Virgin Islands' Cost of Living affect Financial Manager salaries?
The Cost of Living Index of 120 means that everyday expenses are 20% higher than the national average. This effectively reduces the purchasing power of the $109,820 average salary, making it less than it might appear when compared to lower-cost regions.
What does the Location Quotient of 1.29 mean for Financial Managers in the Virgin Islands?
A Location Quotient of 1.29 signifies that Financial Managers are 29% more concentrated in the Virgin Islands than the national average. This suggests a stronger local demand for these roles relative to the overall workforce size.
How many Financial Managers are there in the Virgin Islands?
The total local workforce for Financial Managers in the Virgin Islands is approximately 230 individuals. This provides a baseline for understanding the scale of the profession within the territory.
Are there many job opportunities for Financial Managers in the Virgin Islands?
With 6.849 jobs per 1,000 workers, the rate of Financial Manager employment is slightly above the national average, indicating a steady presence and consistent demand for these financial experts.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 230 employees in the Virgin Islands area with a job density of 6.849 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 Virgin Islands