Average Financial Risk Specialists Salary in Hartford-West Hartford-East Hartford, CT
Financial Risk Specialists in Hartford-West Hartford-East Hartford, CT, earn an average annual salary of $113,350. This figure is slightly below the national average of $121,220, suggesting a localized compensation structure influenced by regional economic factors and industry demand within the state. The specific economic landscape and the concentration of financial institutions in this metropolitan area play a significant role in shaping these salary benchmarks.
Executive Summary
- Average Salary: $113,350 per year.
- Growth Trend: Salaries have shifted 10.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $173,060.
- Outlook: The job market for Financial Risk Specialists in Hartford-West Hartford-East Hartford, CT, shows a moderate level of concentration, indicated by a Location Quotient of 1.23, suggesting a slightly higher presence of these roles compared to the national average. With a total local workforce of 270 individuals in this specialty, the demand appears stable, though not exceptionally high, implying a consistent but not rapidly expanding need for these professionals within the region.
Salary Overview
The average Financial Risk Specialists in Hartford-West Hartford-East Hartford, CT earns-6.5%below the national average.
$54.5
$2,180
$9,446
Financial Risk Specialists Salary Trends (2020-2024)
While specific historical data for this role in Hartford is not provided, it is generally assumed that salaries for Financial Risk Specialists have experienced steady growth over the past four years, mirroring national trends. This growth is typically driven by increasing regulatory complexity, evolving financial markets, and a heightened awareness of the critical importance of risk management across all industries.
Financial Risk Specialists Salary Distribution in Hartford-West Hartford-East Hartford, CT
The salary trajectory for Financial Risk Specialists typically escalates with experience. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with extensive expertise and a proven track record can command salaries in the upper percentiles. The widening gap between entry-level and senior roles reflects the increasing value placed on specialized knowledge, strategic oversight, and leadership capabilities in risk management.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $64,420 | $31 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $85,013 | $40.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $84,740 | $40.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $141,688 | $68.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $173,060 | $83.2 |
Detailed Financial Risk Specialists Market Analysis
Relocation Context
Nominal Salary
$113,350
Gross Pay
Real Wage (Purchasing Power)
$113,350
Adjusted for COL (100)
The average annual salary of $113,350 for Financial Risk Specialists in Hartford-West Hartford-East Hartford, CT, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of this salary is equivalent to the national average, offering a stable financial standing for professionals considering a move to or within the area.
Job Market Context
270
Total Jobs
0.45
Per 1K Jobs
1.23
Location Quotient
With a location quotient of 1.23, Hartford-West Hartford-East Hartford, CT has a slightly higher-than-average concentration of Financial Risk Specialists roles compared to the national norm.
With a Location Quotient of 1.23, Hartford-West Hartford-East Hartford, CT, exhibits a concentration of Financial Risk Specialists that is 23% higher than the national average. This indicates a more robust market for these professionals than typically found elsewhere, suggesting that employers in the region may actively seek out and value this specialized talent pool.
Nearby Job Markets
Nearby Cities for Financial Risk Specialists
| City | Salary | Dist. |
|---|---|---|
| Waterbury-Shelton, CT Financial Risk Specialists Salary | $135,550↑ 20% | 23 mi |
| New Haven, CT Financial Risk Specialists Salary | $135,170↑ 19% | 34 mi |
Comparing salaries near Hartford-West Hartford-East Hartford, CT
Hiring Financial Risk Specialistss?
Frequently Asked Questions
How much does a Financial Risk Specialists make in Hartford-West Hartford-East Hartford, CT?
The median annual salary for a Financial Risk Specialists in Hartford-West Hartford-East Hartford, CT is $113,350. This typically ranges from $64,420 for entry-level positions to $173,060 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Hartford-West Hartford-East Hartford, CT is 6.5% lower than the national median of $121,220.
Is Hartford-West Hartford-East Hartford, CT a lucrative place for Financial Risk Specialists?
Yes, it offers competitive compensation relative to the cost of living.While the average salary is slightly below the national average, the cost of living is also at the national average, making the nominal salary hold its value effectively. The higher-than-average concentration of these roles suggests consistent demand.
Is Hartford-West Hartford-East Hartford, CT a good place to live for Financial Risk Specialists?
The Cost of Living Index in Hartford-West Hartford-East Hartford, CT is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Hartford-West Hartford-East Hartford, CT?
Some top paying nearby cities include Waterbury-Shelton, CT ($135,550) and New Haven, CT.
How does the Hartford salary compare to the national average?
The average annual salary for Financial Risk Specialists in Hartford-West Hartford-East Hartford, CT, is $113,350, which is approximately 6.5% lower than the national average of $121,220.
What is the cost of living in Hartford-West Hartford-East Hartford, CT?
The Cost of Living Index for Hartford-West Hartford-East Hartford, CT, is 100, which is exactly the national average. This means the general cost of goods and services is comparable to the rest of the United States.
How concentrated are Financial Risk Specialist jobs in Hartford?
The Location Quotient of 1.23 indicates that Financial Risk Specialist jobs are more concentrated in Hartford-West Hartford-East Hartford, CT, than the national average, suggesting a specialized regional market.
What is the total number of Financial Risk Specialists in the Hartford area?
There are approximately 270 Financial Risk Specialists employed within the Hartford-West Hartford-East Hartford, CT, 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 270 employees in the Hartford-West Hartford-East Hartford, CT area with a job density of 0.45 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 Hartford-West Hartford-East Hartford, CT