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Financial Manager Salary Information in Michigan

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 [1].

Table 1 & 2. Annual & Hourly Salary of Financial Managers in Michigan

Percentile BracketAverage 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.

Salary Trend (2012 to 2017)

The table and chart below show the trend of the median salary of financial managers from 2012 to 2017.

YearMedian SalaryYearly Growth5-Year Growth
2017
$111,060
5.34% 14.15%
2016
$105,130
3.42% -
2015
$101,530
2.17% -
2014
$99,330
-0.42% -
2013
$99,750
4.41% -
2012
$95,350
- -

Table 3. Median Annual Salary of Financial Managers in Michigan Cities

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
Detroit-Livonia-Dearborn
$121,810
Detroit-Warren-Livonia
$121,750
Jackson
$119,700
Niles-Benton Harbor
$118,720
Ann Arbor
$115,480
Warren-Troy-Farmington Hills
$111,190
Grand Rapids-Wyoming
$108,400
Battle Creek
$105,720
Monroe
$104,330
Kalamazoo-Portage
$100,640
Flint
$100,450
Lansing-East Lansing
$99,240
Muskegon-Norton Shores
$96,740
Bay City
$95,680
Saginaw-Saginaw Township North
$94,470
Holland-Grand Haven
$89,090
Balance of Lower Peninsula of Michigan nonmetropolitan area
$88,520
Upper Peninsula of Michigan nonmetropolitan area
$84,890
Northwest Lower Peninsula of Michigan nonmetropolitan area
$81,720
Northeast Lower Peninsula of Michigan nonmetropolitan area
$75,160
South Bend-Mishawaka
$75,060




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