Average Financial Managers Salary in Western North Carolina nonmetropolitan area
Financial Managers in Western North Carolina's nonmetropolitan areas earn an average annual salary of $131,600. This figure is notably lower than the national average of $184,480, reflecting the economic landscape and specific industry demands of this region. The compensation is influenced by factors such as the concentration of financial services and the overall economic activity unique to nonmetropolitan settings.
Executive Summary
- Average Salary: $131,600 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $205,780.
- Outlook: The job market for Financial Managers in Western North Carolina's nonmetropolitan areas, with a total local workforce of 540, indicates a stable but not rapidly expanding demand. The Location Quotient of 0.4 suggests that this profession is less concentrated here compared to the national average, implying fewer specialized roles but potentially less competition for available positions. The presence of 2.106 jobs per 1,000 workers points to a steady, albeit modest, need for financial expertise within the local economy.
Salary Overview
The average Financial Managers in Western North Carolina nonmetropolitan area earns-28.7%below the national average.
$63.3
$2,531
$10,967
Financial Managers Salary Trends (2020-2024)
While specific historical data for this niche nonmetropolitan area is not provided, it is reasonable to assume that salaries for Financial Managers have experienced gradual growth over the past four years, mirroring national trends. Economic development and evolving business needs typically drive an upward trajectory in compensation for skilled professionals, even in less urbanized regions. This suggests that the current average salary may represent an increase from previous years, reflecting ongoing market adjustments.
Financial Managers Salary Distribution in Western North Carolina nonmetropolitan area
Salary progression for Financial Managers is significantly tied to experience and demonstrated expertise. Entry-level positions typically command salaries at the lower end of the spectrum, while seasoned professionals with extensive experience and specialized skills can expect to earn considerably more. The percentile gaps in salary distribution highlight clear career progression pathways, with senior roles and leadership positions offering substantially higher compensation, reflecting increased responsibility and strategic impact.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $64,090 | $30.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $98,700 | $47.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $106,360 | $51.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $164,500 | $79.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $205,780 | $98.9 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$131,600
Gross Pay
Real Wage (Purchasing Power)
$131,600
Adjusted for COL (100)
The average annual salary of $131,600 for Financial Managers in Western North Carolina's nonmetropolitan areas aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of this salary is equivalent to the national average, offering a balanced financial standing for professionals considering a move to the region. While the nominal salary is lower than the national average, the equivalent cost of living suggests that the take-home value of the salary remains competitive within the local context.
Job Market Context
540
Total Jobs
2.106
Per 1K Jobs
0.4
Location Quotient
At 0.40x, Western North Carolina nonmetropolitan area has a notably lower concentration of Financial Managers jobs than the national average. Opportunities in this area are relatively scarce for this profession.
A Location Quotient of 0.4 for Financial Managers in Western North Carolina's nonmetropolitan area indicates a lower concentration of these roles compared to the national average. This suggests that the job market is less saturated, potentially offering unique opportunities for skilled professionals. While the demand may not be as robust as in major metropolitan hubs, the lower concentration implies that experienced Financial Managers might find less direct competition for available positions, making it a potentially advantageous market for those seeking specialized roles.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Greensboro-High Point, NC Financial Managers Salary | $171,570↑ 30% | 32 mi |
| Pinehurst-Southern Pines, NC Financial Managers Salary | $150,540↑ 14% | 36 mi |
| Burlington, NC Financial Managers Salary | $150,180↑ 14% | 36 mi |
| Winston-Salem, NC Financial Managers Salary | $160,230↑ 22% | 41 mi |
| Durham-Chapel Hill, NC Financial Managers Salary | $181,420↑ 38% | 56 mi |
Comparing salaries near Western North Carolina nonmetropolitan area
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Frequently Asked Questions
How much does a Financial Managers make in Western North Carolina nonmetropolitan area?
The median annual salary for a Financial Managers in Western North Carolina nonmetropolitan area is $131,600. This typically ranges from $64,090 for entry-level positions to $205,780 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Western North Carolina nonmetropolitan area is 28.7% lower than the national median of $184,480.
Is Western North Carolina nonmetropolitan area a lucrative place for Financial Managers?
No, it is not as lucrative as the national average.The average salary of $131,600 is significantly below the national average of $184,480, although the cost of living is comparable. This indicates that while your money may go further locally, the overall earning potential is lower.
Is Western North Carolina nonmetropolitan area a good place to live for Financial Managers?
The Cost of Living Index in Western North Carolina nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Western North Carolina nonmetropolitan area?
Some top paying nearby cities include Greensboro-High Point, NC ($171,570) and Pinehurst-Southern Pines, NC.
How does the local workforce size affect job opportunities?
A local workforce of 540 Financial Managers suggests a smaller, more specialized job market. While this can mean less competition, it also implies fewer overall openings compared to larger metropolitan areas.
What does a Location Quotient of 0.4 mean for Financial Managers?
A Location Quotient of 0.4 signifies that Financial Manager roles are less common in this nonmetropolitan area than the national average. This suggests a niche market where specialized skills might be highly valued.
How does the Cost of Living Index impact the salary's value?
With a Cost of Living Index of 100, the $131,600 salary has the same purchasing power as the national average. This means that while the nominal salary is lower, the local expenses are also at the national average, offering a balanced financial outcome.
Are there many Financial Manager jobs per 1,000 workers in this region?
With 2.106 jobs per 1,000 workers, the density of Financial Manager positions is moderate. This indicates a steady demand for financial expertise within the local economy, but not an overwhelming number of opportunities.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 540 employees in the Western North Carolina nonmetropolitan area area with a job density of 2.106 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 Western North Carolina nonmetropolitan area