Average Industrial Production Managers Salary in Richmond, VA
Industrial Production Managers in Richmond, VA, command an impressive average annual salary of $136,340, surpassing the national average of $129,180. This elevated compensation reflects the specific demands and economic landscape of the Richmond metropolitan area, potentially influenced by the concentration of relevant industries and the specialized skill sets required for these critical operational roles.
Executive Summary
- Average Salary: $136,340 per year.
- Growth Trend: Salaries have shifted 11.2% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $206,000.
- Outlook: Richmond's industrial production management sector, while not exceptionally concentrated with a Location Quotient of 0.5, supports a local workforce of 490 professionals. The presence of 0.756 jobs per 1,000 workers indicates a steady, albeit not rapidly expanding, demand for experienced managers within the region's manufacturing and production facilities. This suggests a stable job market for those in this field.
Salary Overview
The average Industrial Production Managers in Richmond, VA earns+5.5%above the national average.
$65.6
$2,622
$11,362
Industrial Production Managers Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Industrial Production Managers in Richmond have experienced consistent growth over the past four years, mirroring national trends. Factors such as inflation, increased demand for efficient production, and the evolving complexity of manufacturing processes likely contribute to a positive salary trajectory for these professionals.
Industrial Production Managers Salary Distribution in Richmond, VA
The career path for an Industrial Production Manager typically involves significant salary progression based on experience. Entry-level positions will naturally command lower salaries, while seasoned professionals with extensive leadership experience and a proven track record of optimizing production can expect to earn substantially more, often reaching into the higher salary percentiles. These percentile gaps clearly signify the value placed on accumulated expertise and demonstrated success.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $77,420 | $37.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $102,255 | $49.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $127,260 | $61.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $170,425 | $81.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $206,000 | $99 |
Detailed Industrial Production Managers Market Analysis
Relocation Context
Nominal Salary
$136,340
Gross Pay
Real Wage (Purchasing Power)
$136,340
Adjusted for COL (100)
With an average annual salary of $136,340 and a Cost of Living Index at the national average of 100, Industrial Production Managers in Richmond, VA, experience a strong purchasing power. The nominal salary effectively translates to a comfortable standard of living, as the cost of goods and services aligns with the national benchmark, allowing for effective financial management and savings.
Job Market Context
490
Total Jobs
0.756
Per 1K Jobs
0.5
Location Quotient
Richmond, VA has 0.50x the national average concentration of Industrial Production Managers 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 0.5 for Industrial Production Managers in Richmond indicates that this profession is less concentrated in the area compared to the national average. This suggests that while opportunities exist, the market is not saturated, potentially offering a competitive edge for skilled professionals seeking employment. It implies that employers may actively recruit to fill these roles, rather than having an overabundance of candidates.
Nearby Job Markets
Nearby Cities for Industrial Production Managers
| City | Salary | Dist. |
|---|---|---|
| Southside Virginia nonmetropolitan area Industrial Production Managers Salary | $111,870↓ 18% | 41 mi |
| Northern West Virginia nonmetropolitan area Industrial Production Managers Salary | $111,810↓ 18% | 41 mi |
| Southwest Virginia nonmetropolitan area Industrial Production Managers Salary | $111,920↓ 18% | 41 mi |
| Northwest Virginia nonmetropolitan area Industrial Production Managers Salary | $117,440↓ 14% | 41 mi |
| Southern West Virginia nonmetropolitan area Industrial Production Managers Salary | $123,360↓ 10% | 41 mi |
Comparing salaries near Richmond, VA
Hiring Industrial Production Managerss?
Frequently Asked Questions
How much does a Industrial Production Managers make in Richmond, VA?
The median annual salary for a Industrial Production Managers in Richmond, VA is $136,340. This typically ranges from $77,420 for entry-level positions to $206,000 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Richmond, VA is 5.5% higher than the national median of $129,180.
Is Richmond, VA a lucrative place for Industrial Production Managers?
Yes, Richmond, VA offers a lucrative environment for Industrial Production Managers.The average salary of $136,340 significantly exceeds the national average, and the cost of living is on par with the national index, ensuring strong purchasing power.
Is Richmond, VA a good place to live for Industrial Production Managers?
The Cost of Living Index in Richmond, VA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Richmond, VA?
Some top paying nearby cities include Southside Virginia nonmetropolitan area ($111,870) and Northern West Virginia nonmetropolitan area.
How does Richmond's average salary compare to the national average for this role?
Industrial Production Managers in Richmond earn an average of $136,340 annually, which is higher than the national average of $129,180.
What is the job market like for Industrial Production Managers in Richmond?
The job market is stable, with a local workforce of 490 and a Location Quotient of 0.5, indicating steady demand without oversaturation.
Does the cost of living in Richmond affect the value of the salary?
No, the Cost of Living Index in Richmond is 100, matching the national average, meaning the $136,340 salary offers standard purchasing power.
How many Industrial Production Manager jobs are there per 1,000 workers in Richmond?
There are approximately 0.756 Industrial Production Manager jobs per 1,000 workers in Richmond, VA.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 490 employees in the Richmond, VA area with a job density of 0.756 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Industrial Production Managers • Data source: BLS OEWS 2024 •Jobs in Richmond, VA