Average Financial Managers Salary in Waterbury-Shelton, CT
Financial Managers in the Waterbury-Shelton, CT area earn an average annual salary of $174,320. This figure is slightly below the national average of $184,480, suggesting a localized market dynamic that influences compensation. Factors such as regional economic conditions, industry concentration, and the specific demand within the Waterbury-Shelton area contribute to this pay scale.
Executive Summary
- Average Salary: $174,320 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $261,480.
- Outlook: The Waterbury-Shelton, CT area supports a robust workforce of 1,140 Financial Managers, indicating a significant presence in the local economy. With a Location Quotient of 1.36, this region demonstrates a concentration of these professionals that is 36% higher than the national average, signaling strong demand and a potentially competitive job market for financial leadership roles.
Salary Overview
The average Financial Managers in Waterbury-Shelton, CT earns-5.5%below the national average.
$83.8
$3,352
$14,527
Financial Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that salaries for Financial Managers in Waterbury-Shelton, CT have experienced consistent growth over the past four years, mirroring national trends. This upward trajectory is typically driven by increasing business complexity, evolving regulatory landscapes, and the persistent need for skilled financial oversight across various industries.
Financial Managers Salary Distribution in Waterbury-Shelton, CT
Salary progression for Financial Managers in Waterbury-Shelton, CT, like elsewhere, is strongly tied to experience. Entry-level positions might command salaries closer to the lower percentiles, while seasoned professionals with extensive experience and specialized skills can expect compensation in the higher percentiles, potentially exceeding $200,000. The widening gap between entry-level and senior roles signifies 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) | $94,600 | $45.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $130,740 | $62.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $159,660 | $76.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $217,900 | $104.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $261,480 | $125.7 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$174,320
Gross Pay
Real Wage (Purchasing Power)
$174,320
Adjusted for COL (100)
The average annual salary of $174,320 for Financial Managers in Waterbury-Shelton, CT 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 this region is equivalent to the national average, offering a stable financial environment without the added pressure of significantly higher or lower living expenses.
Job Market Context
1,140
Total Jobs
7.203
Per 1K Jobs
1.36
Location Quotient
With a location quotient of 1.36, Waterbury-Shelton, CT has a slightly higher-than-average concentration of Financial Managers roles compared to the national norm.
The Location Quotient of 1.36 for Financial Managers in Waterbury-Shelton, CT indicates a notable concentration of these roles compared to the national average. This suggests that the region is a key hub for financial management talent, potentially offering more job opportunities and a more dynamic market for professionals in this field than areas with a lower concentration.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Connecticut nonmetropolitan area Financial Managers Salary | $151,860↓ 13% | 15 mi |
| New Haven, CT Financial Managers Salary | $162,990↓ 6% | 18 mi |
| Hartford-West Hartford-East Hartford, CT Financial Managers Salary | $180,060↑ 3% | 23 mi |
| Bridgeport-Stamford-Danbury, CT Financial Managers Salary | $229,940↑ 32% | 27 mi |
| Springfield, MA Financial Managers Salary | $173,950↓ 0% | 46 mi |
Comparing salaries near Waterbury-Shelton, CT
Hiring Financial Managerss?
Frequently Asked Questions
How much does a Financial Managers make in Waterbury-Shelton, CT?
The median annual salary for a Financial Managers in Waterbury-Shelton, CT is $174,320. This typically ranges from $94,600 for entry-level positions to $261,480 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Waterbury-Shelton, CT is 5.5% lower than the national median of $184,480.
Is Waterbury-Shelton, CT a lucrative place for Financial Managers?
Yes, with caveats.Financial Managers in Waterbury-Shelton, CT earn a competitive average salary of $174,320, which is on par with the national cost of living. The higher-than-average concentration of these roles suggests a strong local demand.
Is Waterbury-Shelton, CT a good place to live for Financial Managers?
The Cost of Living Index in Waterbury-Shelton, CT is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Waterbury-Shelton, CT?
Some top paying nearby cities include Connecticut nonmetropolitan area ($151,860) and New Haven, CT.
How does the Waterbury-Shelton, CT salary compare to the national average?
The average salary for Financial Managers in Waterbury-Shelton, CT is $174,320, which is approximately $10,000 less than the national average of $184,480.
What is the concentration of Financial Managers in Waterbury-Shelton, CT?
The concentration, measured by the Location Quotient, is 1.36, meaning there are 36% more Financial Managers employed in this area relative to the national average.
How does the cost of living affect the Financial Manager salary in Waterbury-Shelton, CT?
The cost of living in Waterbury-Shelton, CT is exactly at the national average (100), meaning the $174,320 salary offers average purchasing power compared to other regions.
What does the job market look like for Financial Managers in this area?
With 1,140 Financial Managers and a Location Quotient of 1.36, the job market appears robust and shows a higher concentration of these professionals than the national average.
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 Waterbury-Shelton, CT area with a job density of 7.203 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 Waterbury-Shelton, CT