The average annual and hourly salaries for financial managers in the state of Michigan are shown in Table 1 and Table 2, respectively. The comparison of the salary statistics of financial managers among Michigan areas is shown in Table 3. The salary statistics are based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2017 and published in April 2018 .
|Percentile Bracket||Average Annual Salary|
|10th Percentile Wage||$65,260|
|25th Percentile Wage||$83,890|
|50th Percentile Wage||$111,060|
|75th Percentile Wage||$149,680|
|90th Percentile Wage||$204,630|
Table 1 shows the average annual salary for financial managers in Michigan in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $204,630. The median (50th percentile) annual salary is $111,060. The average annual salary for the bottom 10 percent is $65,260.
The table and chart below show the trend of the median salary of financial managers from 2012 to 2017.
|Year||Median Salary||Yearly Growth||5-Year Growth|
Table 3 shows the median annual salary of financial managers in some Michigan cities and metropolitan areas. We note that the median annual salary of financial managers in state of Michigan ranges from $75,060 to $121,810. The highest paying area for financial managers in Michigan is Detroit-Livonia-Dearborn with a median annual salary of $121,810. The second highest paying city/area in Michigan State is Detroit-Warren-Livonia (mean annual salary $121,750). The lowest paying area is South Bend-Mishawaka with a median annual salary of $75,060.
|Cities/Areas||Median Annual Salary|
|Niles-Benton Harbor|| |
|Ann Arbor|| |
|Warren-Troy-Farmington Hills|| |
|Grand Rapids-Wyoming|| |
|Battle Creek|| |
|Lansing-East Lansing|| |
|Muskegon-Norton Shores|| |
|Bay City|| |
|Saginaw-Saginaw Township North|| |
|Holland-Grand Haven|| |
|Balance of Lower Peninsula of Michigan nonmetropolitan area|| |
|Upper Peninsula of Michigan nonmetropolitan area|| |
|Northwest Lower Peninsula of Michigan nonmetropolitan area|| |
|Northeast Lower Peninsula of Michigan nonmetropolitan area|| |
|South Bend-Mishawaka|| |