Average Financial Risk Specialists Salary in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Financial Risk Specialists in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD area earn an impressive average annual salary of $123,470. This figure notably surpasses the national average of $121,220, indicating a strong demand and potentially higher value placed on these professionals within this specific metropolitan region. Factors such as the concentration of financial institutions and the complexity of the regional economy likely contribute to this elevated compensation.
Executive Summary
- Average Salary: $123,470 per year.
- Growth Trend: Salaries have shifted 13.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $174,070.
- Outlook: The local job market for Financial Risk Specialists in Philadelphia-Camden-Wilmington appears robust, with a total workforce of 2,450 individuals. The Location Quotient of 2.34 signifies a concentration of these roles significantly above the national average, suggesting a specialized and active demand for this expertise within the region.
Salary Overview
The average Financial Risk Specialists in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD earns+1.9%above the national average.
$59.4
$2,374
$10,289
Financial Risk Specialists Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the average salary for Financial Risk Specialists in Philadelphia-Camden-Wilmington has experienced growth over the past four years, mirroring national trends. Economic shifts, evolving regulatory landscapes, and increasing demand for risk management expertise typically drive upward salary adjustments in specialized fields.
Financial Risk Specialists Salary Distribution in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Salary progression for Financial Risk Specialists in this region typically scales with experience. Entry-level positions may start closer to the lower percentiles, while seasoned professionals with extensive expertise and a proven track record can command salaries in the higher percentiles. The gap between these percentiles represents significant career advancement and increased earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $74,490 | $35.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $92,603 | $44.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $123,450 | $59.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $154,338 | $74.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $174,070 | $83.7 |
Detailed Financial Risk Specialists Market Analysis
Relocation Context
Nominal Salary
$123,470
Gross Pay
Real Wage (Purchasing Power)
$123,470
Adjusted for COL (100)
The nominal average salary of $123,470 in Philadelphia-Camden-Wilmington aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of a Financial Risk Specialist's salary in this area is equivalent to the national average, offering a stable financial standing without the immediate pressure of higher living expenses.
Job Market Context
2,450
Total Jobs
0.853
Per 1K Jobs
2.34
Location Quotient
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD has 2.3x the national concentration of Financial Risk Specialists jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
With a Location Quotient of 2.34, the Philadelphia-Camden-Wilmington area demonstrates a significantly higher concentration of Financial Risk Specialists compared to the national average. This suggests a specialized and potentially competitive market where demand for these skills is notably pronounced, making it an attractive hub for professionals in this field.
Nearby Job Markets
Nearby Cities for Financial Risk Specialists
| City | Salary | Dist. |
|---|---|---|
| Trenton-Princeton, NJ Financial Risk Specialists Salary | $120,520↓ 2% | 28 mi |
| Allentown-Bethlehem-Easton, PA-NJ Financial Risk Specialists Salary | $102,480↓ 17% | 47 mi |
| Sussex Delaware nonmetropolitan area Financial Risk Specialists Salary | $107,160↓ 13% | 47 mi |
Comparing salaries near Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Hiring Financial Risk Specialistss?
Frequently Asked Questions
How much does a Financial Risk Specialists make in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD?
The median annual salary for a Financial Risk Specialists in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD is $123,470. This typically ranges from $74,490 for entry-level positions to $174,070 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD is 1.9% higher than the national median of $121,220.
Is Philadelphia-Camden-Wilmington, PA-NJ-DE-MD a lucrative place for Financial Risk Specialists?
Yes, it is a lucrative place for Financial Risk Specialists.The average salary of $123,470 significantly exceeds the national average, and the high concentration of these roles (LQ 2.34) indicates strong regional demand.
Is Philadelphia-Camden-Wilmington, PA-NJ-DE-MD a good place to live for Financial Risk Specialists?
The Cost of Living Index in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Philadelphia-Camden-Wilmington, PA-NJ-DE-MD?
Some top paying nearby cities include Trenton-Princeton, NJ ($120,520) and Allentown-Bethlehem-Easton, PA-NJ.
How does the local salary compare to the national average?
Financial Risk Specialists in Philadelphia-Camden-Wilmington earn an average of $123,470 annually, which is higher than the national average of $121,220.
What is the concentration of Financial Risk Specialists in this area?
The area has a concentration of Financial Risk Specialists with a Location Quotient of 2.34, meaning there are more than double the national average of these roles per worker.
How does the cost of living affect the salary?
The cost of living in Philadelphia-Camden-Wilmington is at the national average (100), meaning the $123,470 salary offers purchasing power equivalent to the national average.
What is the total number of Financial Risk Specialists in the region?
There are approximately 2,450 Financial Risk Specialists employed within the Philadelphia-Camden-Wilmington 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 2,450 employees in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD area with a job density of 0.853 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 Philadelphia-Camden-Wilmington, PA-NJ-DE-MD