Average Financial Specialists, All Other Salary in New York
Financial Specialists, All Other in New York command an impressive average annual salary of $163,990, significantly outpacing the national average of $94,320. This substantial difference is largely attributed to New York's robust financial sector, high demand for specialized financial expertise, and the overall economic landscape that necessitates higher compensation for skilled professionals.
Executive Summary
- Average Salary: $163,990 per year.
- Growth Trend: Salaries have shifted 55.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $245,985.
- Outlook: With a local workforce of 6,760 Financial Specialists, All Other, New York demonstrates a considerable presence in this field. The Location Quotient of 0.86 suggests a concentration slightly below the national average, indicating a healthy but not overly saturated market. This balance points to a stable demand for these professionals within the state's economy.
Salary Overview
The average Financial Specialists, All Other in New York earns+73.9%above the national average.
$78.8
$3,154
$13,666
Financial Specialists, All Other Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume a positive salary growth trend for Financial Specialists, All Other in New York over the past four years. Economic expansion, evolving financial regulations, and increasing complexity in financial markets typically drive up demand and compensation for these roles, mirroring broader trends in the financial services industry.
Financial Specialists, All Other Salary Distribution in New York
The salary trajectory for Financial Specialists, All Other in New York typically scales significantly with experience. Entry-level positions might start considerably lower than the average, while seasoned professionals with specialized skills and a proven track record can command salaries well above the $163,990 mark. The widening gap between entry-level and senior-level salaries reflects the substantial career progression and increased earning potential available.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $64,990 | $31.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $122,993 | $59.1 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $122,510 | $58.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $204,988 | $98.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $245,985 | $118.3 |
Detailed Financial Specialists, All Other Market Analysis
Relocation Context
Nominal Salary
$163,990
Gross Pay
Real Wage (Purchasing Power)
$131,087
Adjusted for COL (125.1)
While the nominal average salary of $163,990 in New York is highly attractive, it's crucial to consider the local Cost of Living Index of 125.1. This means that living expenses are approximately 25.1% higher than the national average. Therefore, the purchasing power of the $163,990 salary, while still strong, is somewhat tempered by the elevated cost of goods and services in the state.
Job Market Context
6,760
Total Jobs
0.709
Per 1K Jobs
0.86
Location Quotient
New York has 0.86x the national average concentration of Financial Specialists, All Other jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
The Location Quotient of 0.86 for Financial Specialists, All Other in New York indicates that the concentration of these roles is slightly below the national average. This suggests that while the state has a significant number of these professionals, the job market is not disproportionately saturated compared to other regions. This equilibrium can translate into competitive opportunities for skilled individuals.
Nearby Job Markets
Nearby Cities for Financial Specialists, All Other
| City | Salary | Dist. |
|---|---|---|
| Scranton--Wilkes-Barre, PA Financial Specialists, All Other Salary | $78,100↓ 52% | 64 mi |
| Utica-Rome, NY Financial Specialists, All Other Salary | $78,960↓ 52% | 66 mi |
| Albany-Schenectady-Troy, NY Financial Specialists, All Other Salary | $90,410↓ 45% | 68 mi |
Comparing salaries near New York
Hiring Financial Specialists, All Others?
Frequently Asked Questions
How much does a Financial Specialists, All Other make in New York?
The median annual salary for a Financial Specialists, All Other in New York is $163,990. This typically ranges from $64,990 for entry-level positions to $245,985 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in New York is 73.9% higher than the national median of $94,320.
Is New York a lucrative place for Financial Specialists, All Others?
Yes, New York is a highly lucrative place for Financial Specialists, All Others.The average annual salary of $163,990 significantly exceeds the national average, reflecting the state's strong financial industry and demand for specialized expertise.
Is New York a good place to live for Financial Specialists, All Others?
The Cost of Living Index in New York is 125.1. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near New York?
Some top paying nearby cities include Scranton--Wilkes-Barre, PA ($78,100) and Utica-Rome, NY.
How does New York's salary for Financial Specialists compare to the national average?
The average annual salary for Financial Specialists, All Other in New York is $163,990, which is substantially higher than the national average of $94,320.
What is the concentration of Financial Specialists, All Other in New York?
New York has a Location Quotient of 0.86 for Financial Specialists, All Other, indicating a concentration slightly below the national average, suggesting a balanced job market.
How does the Cost of Living in New York affect the salary of a Financial Specialist?
With a Cost of Living Index of 125.1, New York is more expensive than the national average. This means that while the $163,990 salary is high, the actual purchasing power is reduced by approximately 25.1% due to higher living expenses.
What is the total number of Financial Specialists, All Other employed in New York?
There are approximately 6,760 Financial Specialists, All Other employed within New York state.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 6,760 employees in the New York area with a job density of 0.709 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 Specialists, All Other • Data source: BLS OEWS 2024 •Jobs in New York