Average Financial Risk Specialists Salary in Baltimore-Columbia-Towson, MD
Financial Risk Specialists in the Baltimore-Columbia-Towson, MD area earn an average annual salary of $112,830. This figure is slightly below the national average of $121,220, a difference often influenced by regional economic factors and the specific demand within the local financial sector. The concentration of financial institutions and regulatory bodies in the region plays a key role in shaping compensation for these specialized roles.
Executive Summary
- Average Salary: $112,830 per year.
- Growth Trend: Salaries have shifted 26.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $167,430.
- Outlook: The Baltimore-Columbia-Towson metropolitan area hosts a workforce of approximately 450 Financial Risk Specialists. With a Location Quotient of 0.91, the concentration of these professionals is nearly on par with the national average, indicating a stable and established presence in the region's job market. This suggests a consistent demand for their expertise, though perhaps not explosive growth.
Salary Overview
The average Financial Risk Specialists in Baltimore-Columbia-Towson, MD earns-6.9%below the national average.
$54.3
$2,170
$9,403
Financial Risk Specialists Salary Trends (2020-2024)
While specific historical data for this localized role isn't provided, it's reasonable to assume that salaries for Financial Risk Specialists in Baltimore-Columbia-Towson have seen steady growth over the past four years, mirroring national trends. Increased regulatory complexity and evolving market dynamics typically drive up demand and compensation for professionals skilled in risk management.
Financial Risk Specialists Salary Distribution in Baltimore-Columbia-Towson, MD
Salary progression for Financial Risk Specialists is strongly tied to experience. Entry-level positions typically command salaries at the lower end of the spectrum, while seasoned professionals with extensive expertise and a proven track record in complex risk mitigation can earn significantly more, often reaching the upper percentiles. The gap between entry-level and senior roles highlights substantial career growth opportunities.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $69,990 | $33.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $84,623 | $40.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $99,560 | $47.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $141,038 | $67.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $167,430 | $80.5 |
Detailed Financial Risk Specialists Market Analysis
Relocation Context
Nominal Salary
$112,830
Gross Pay
Real Wage (Purchasing Power)
$112,830
Adjusted for COL (100)
The average annual salary of $112,830 in Baltimore-Columbia-Towson aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of a Financial Risk Specialist's salary in this area is equivalent to the national standard, offering a balanced lifestyle without significant financial strain related to living expenses.
Job Market Context
450
Total Jobs
0.333
Per 1K Jobs
0.91
Location Quotient
Baltimore-Columbia-Towson, MD has 0.91x the national average concentration of Financial Risk Specialists 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 0.91 suggests that Financial Risk Specialists are slightly less concentrated in Baltimore-Columbia-Towson compared to the national average. This indicates a healthy, competitive job market where demand is present but not overwhelmingly saturated, offering good opportunities for skilled professionals without intense competition for every opening.
Nearby Job Markets
Nearby Cities for Financial Risk Specialists
| City | Salary | Dist. |
|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV Financial Risk Specialists Salary | $129,540↑ 15% | 35 mi |
| Lancaster, PA Financial Risk Specialists Salary | $102,150↓ 9% | 55 mi |
Comparing salaries near Baltimore-Columbia-Towson, MD
Hiring Financial Risk Specialistss?
Frequently Asked Questions
How much does a Financial Risk Specialists make in Baltimore-Columbia-Towson, MD?
The median annual salary for a Financial Risk Specialists in Baltimore-Columbia-Towson, MD is $112,830. This typically ranges from $69,990 for entry-level positions to $167,430 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Baltimore-Columbia-Towson, MD is 6.9% lower than the national median of $121,220.
Is Baltimore-Columbia-Towson, MD a lucrative place for Financial Risk Specialists?
Yes, it offers competitive compensation relative to the cost of living.The average salary of $112,830 is strong, especially considering the local cost of living matches the national average. While slightly below the national average salary, the stable market and cost of living make it a financially sound location.
Is Baltimore-Columbia-Towson, MD a good place to live for Financial Risk Specialists?
The Cost of Living Index in Baltimore-Columbia-Towson, MD is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Baltimore-Columbia-Towson, MD?
Some top paying nearby cities include Washington-Arlington-Alexandria, DC-VA-MD-WV ($129,540) and Lancaster, PA.
How does the local salary compare to the national average?
The average annual salary for Financial Risk Specialists in Baltimore-Columbia-Towson, MD is $112,830, which is approximately 6.9% lower than the national average of $121,220.
What is the concentration of Financial Risk Specialists in this area?
The Location Quotient for Financial Risk Specialists in Baltimore-Columbia-Towson, MD is 0.91, indicating a concentration that is very close to the national average.
How does the cost of living affect the salary?
With a Cost of Living Index of 100, the national average, the $112,830 salary in Baltimore-Columbia-Towson provides purchasing power equivalent to the national median, making it a stable financial environment.
What is the total number of Financial Risk Specialists in the area?
There are approximately 450 Financial Risk Specialists employed within the Baltimore-Columbia-Towson, MD metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 450 employees in the Baltimore-Columbia-Towson, MD area with a job density of 0.333 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 Risk Specialists • Data source: BLS OEWS 2024 •Jobs in Baltimore-Columbia-Towson, MD