Average Financial Risk Specialists Salary in Florida
Financial Risk Specialists in Florida earn an average annual salary of $107,940. This figure is slightly below the national average of $121,220, indicating that while Florida offers competitive compensation, it may not reach the highest national benchmarks for this specialized role. Factors such as the state's economic landscape and demand for risk management expertise likely influence this localized pay scale.
Executive Summary
- Average Salary: $107,940 per year.
- Growth Trend: Salaries have shifted 15.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $166,810.
- Outlook: With a local workforce of 4,140 Financial Risk Specialists, Florida demonstrates a notable presence in this field. The Location Quotient of 1.16 suggests a concentration of these professionals that is slightly higher than the national average, implying a robust and potentially growing demand for their specialized skills within the state's financial sector.
Salary Overview
The average Financial Risk Specialists in Florida earns-11.0%below the national average.
$51.9
$2,076
$8,995
Financial Risk Specialists Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Financial Risk Specialists in Florida have experienced a steady upward trend over the past four years, mirroring national patterns. This growth is typically driven by increasing regulatory complexity, evolving financial markets, and a heightened awareness of the importance of robust risk management practices across industries.
Financial Risk Specialists Salary Distribution in Florida
The salary progression for Financial Risk Specialists in Florida, as in most markets, is significantly influenced by experience. Entry-level positions typically command lower salaries, while seasoned professionals with extensive expertise and a proven track record can expect substantially higher compensation. The widening gap between entry-level and senior-level salaries reflects the increasing value placed on specialized knowledge and strategic risk mitigation capabilities.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $59,300 | $28.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $80,955 | $38.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $100,730 | $48.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $134,925 | $64.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $166,810 | $80.2 |
Detailed Financial Risk Specialists Market Analysis
Relocation Context
Nominal Salary
$107,940
Gross Pay
Real Wage (Purchasing Power)
$105,513
Adjusted for COL (102.3)
The average annual salary of $107,940 in Florida needs to be considered in light of the state's Cost of Living Index of 102.3. This index, which is just above the national average of 100, suggests that while the cost of living is slightly higher than the national norm, the nominal salary offers a reasonable purchasing power, though perhaps not as expansive as in lower-cost-of-living regions.
Job Market Context
4,140
Total Jobs
0.422
Per 1K Jobs
1.16
Location Quotient
With a location quotient of 1.16, Florida has a slightly higher-than-average concentration of Financial Risk Specialists roles compared to the national norm.
A Location Quotient of 1.16 for Financial Risk Specialists in Florida indicates a market that is slightly more concentrated than the national average. This suggests that while the demand for these professionals is present and perhaps even slightly elevated compared to the rest of the country, the job market is not oversaturated, offering a healthy balance for skilled individuals seeking opportunities.
Nearby Job Markets
Nearby Cities for Financial Risk Specialists
| City | Salary | Dist. |
|---|---|---|
| Lakeland-Winter Haven, FL Financial Risk Specialists Salary | $103,110↓ 4% | 26 mi |
| Tampa-St. Petersburg-Clearwater, FL Financial Risk Specialists Salary | $104,520↓ 3% | 49 mi |
| Orlando-Kissimmee-Sanford, FL Financial Risk Specialists Salary | $101,550↓ 6% | 57 mi |
| North Port-Bradenton-Sarasota, FL Financial Risk Specialists Salary | $126,040↑ 17% | 58 mi |
Comparing salaries near Florida
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Frequently Asked Questions
How much does a Financial Risk Specialists make in Florida?
The median annual salary for a Financial Risk Specialists in Florida is $107,940. This typically ranges from $59,300 for entry-level positions to $166,810 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Florida is 11.0% lower than the national median of $121,220.
Is Florida a lucrative place for Financial Risk Specialists?
Yes, with caveats.Florida offers a solid average salary of $107,940, slightly above the national average in terms of job concentration. However, the salary is below the national average, and the cost of living is slightly higher, requiring careful financial planning.
Is Florida a good place to live for Financial Risk Specialists?
The Cost of Living Index in Florida is 102.3. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Florida?
Some top paying nearby cities include Lakeland-Winter Haven, FL ($103,110) and Tampa-St. Petersburg-Clearwater, FL.
How does Florida's salary for Financial Risk Specialists compare to the national average?
The average annual salary for Financial Risk Specialists in Florida is $107,940, which is approximately 11% lower than the national average of $121,220.
What is the concentration of Financial Risk Specialists in Florida?
Florida has a Location Quotient of 1.16 for Financial Risk Specialists, indicating that the concentration of these professionals in the state is 16% higher than the national average.
How does the cost of living in Florida affect the Financial Risk Specialist salary?
With a Cost of Living Index of 102.3, Florida is slightly more expensive than the national average. This means the $107,940 salary may afford slightly less purchasing power than the national average salary in a more affordable region.
What is the total number of Financial Risk Specialists in Florida?
There are approximately 4,140 Financial Risk Specialists employed in Florida, representing a significant segment of the workforce in this specialized financial role.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 4,140 employees in the Florida area with a job density of 0.422 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 Florida