Average Financial Managers Salary in York-Hanover, PA
Financial Managers in York-Hanover, PA, earn an average annual salary of $148,060. This figure is notably below the national average of $184,480, suggesting localized economic factors and industry demand play a significant role in compensation within this region. The specific market dynamics and the concentration of financial services firms in the York-Hanover area contribute to this pay differential.
Executive Summary
- Average Salary: $148,060 per year.
- Growth Trend: Salaries have shifted 0.2% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $221,080.
- Outlook: With a local workforce of 640 Financial Managers and a Location Quotient of 0.66, the job market in York-Hanover, PA, indicates a slightly lower concentration compared to the national average. While the total workforce size suggests a stable presence, the sub-average LQ points to a market that may not be as saturated with these specialized roles, potentially offering opportunities for skilled professionals but also indicating a less robust demand relative to national trends.
Salary Overview
The average Financial Managers in York-Hanover, PA earns-19.7%below the national average.
$71.2
$2,847
$12,338
Financial Managers Salary Trends (2020-2024)
While specific historical data for York-Hanover is not provided, it is generally observed that salaries for Financial Managers across the nation have experienced steady growth over the past four years, driven by increasing complexity in financial regulations and the demand for strategic financial planning. It is reasonable to assume that the York-Hanover market has mirrored this trend to some extent, with compensation likely seeing incremental increases as the demand for experienced financial leadership evolves.
Financial Managers Salary Distribution in York-Hanover, PA
The career trajectory for Financial Managers in York-Hanover, PA, typically involves significant salary progression based on experience. Entry-level positions might start at a lower percentile, while senior roles, characterized by extensive experience and strategic oversight, command salaries in the higher percentiles. The widening gap between entry-level and senior compensation underscores the value placed on accumulated expertise and leadership capabilities within the financial management field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $78,770 | $37.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $111,045 | $53.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $134,310 | $64.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $185,075 | $89 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $221,080 | $106.3 |
Detailed Financial Managers Market Analysis
Relocation Context
Nominal Salary
$148,060
Gross Pay
Real Wage (Purchasing Power)
$148,060
Adjusted for COL (100)
The average annual salary of $148,060 in York-Hanover, PA, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the nominal salary offers purchasing power equivalent to the national average, providing a stable financial standing for individuals relocating to or residing in the area without the immediate pressure of a higher or lower cost of living impacting their disposable income.
Job Market Context
640
Total Jobs
3.494
Per 1K Jobs
0.66
Location Quotient
York-Hanover, PA has 0.66x 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 0.66 for Financial Managers in York-Hanover, PA, signifies that the concentration of these professionals is 34% lower than the national average. This suggests that the job market is less competitive in terms of the sheer number of available Financial Managers relative to other occupations. While this might imply fewer job openings compared to national hubs, it could also mean less intense competition for qualified candidates seeking roles in this specialized field.
Nearby Job Markets
Nearby Cities for Financial Managers
| City | Salary | Dist. |
|---|---|---|
| Harrisburg-Carlisle, PA Financial Managers Salary | $148,160↑ 0% | 23 mi |
| Lancaster, PA Financial Managers Salary | $144,010↓ 3% | 23 mi |
| Gettysburg, PA Financial Managers Salary | $130,550↓ 12% | 28 mi |
| Lebanon, PA Financial Managers Salary | $136,820↓ 8% | 31 mi |
| Baltimore-Columbia-Towson, MD Financial Managers Salary | $167,000↑ 13% | 47 mi |
Comparing salaries near York-Hanover, PA
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Frequently Asked Questions
How much does a Financial Managers make in York-Hanover, PA?
The median annual salary for a Financial Managers in York-Hanover, PA is $148,060. This typically ranges from $78,770 for entry-level positions to $221,080 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in York-Hanover, PA is 19.7% lower than the national median of $184,480.
Is York-Hanover, PA a lucrative place for Financial Managers?
No, it is not as lucrative as the national average.The average salary of $148,060 is significantly lower than the national average of $184,480. However, the cost of living is also at the national average, meaning the purchasing power is comparable.
Is York-Hanover, PA a good place to live for Financial Managers?
The Cost of Living Index in York-Hanover, PA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near York-Hanover, PA?
Some top paying nearby cities include Harrisburg-Carlisle, PA ($148,160) and Lancaster, PA.
How does the number of Financial Managers in York-Hanover compare to the national average?
York-Hanover has a total workforce of 640 Financial Managers, with 3.494 jobs per 1,000 workers. This is below the national concentration indicated by a Location Quotient of 0.66.
What is the cost of living in York-Hanover, PA for Financial Managers?
The cost of living in York-Hanover, PA is exactly at the national average, with an index of 100. This means that the $148,060 salary provides purchasing power equivalent to the national average.
Are there many job opportunities for Financial Managers in York-Hanover?
While the total workforce is 640, the Location Quotient of 0.66 suggests a lower concentration of Financial Managers compared to the national average, indicating potentially fewer specialized roles or less intense competition.
How does experience affect a Financial Manager's salary in York-Hanover?
Experience significantly impacts salary, with entry-level positions earning less and senior roles commanding higher salaries, reflecting the increasing value of expertise and leadership in financial management.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 640 employees in the York-Hanover, PA area with a job density of 3.494 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 York-Hanover, PA