National » Management » Financial Managers

Financial Manager Salary Information

The salary statistics of financial managers are shown in Table 1. In the next few tables we compare the average salaries of financial managers within different industry sectors and in the 50 states of the United States. The financial managers annual salary statistics are from the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2016 and published in April 2017 [1].

Table 1. Financial Manager Salary in the United States

Percentile BracketAverage Annual Salary
10th Percentile Wage
$65,000
25th Percentile Wage
$87,530
50th Percentile Wage
$121,750
75th Percentile Wage
$168,790
90th Percentile Wage
No Data

Table 1 shows the average annual salary for financial managers. The average annual salary for the 75th percentile (the top 25 percent of the highest paid) is $168,790. The median annual salary (50th percentile) is $121,750. The average annual salary for the bottom 10 percent is $65,000. Note that in the United States, the annual salary of the 75th percentile (the top 25 percent of the highest paid) is almost 159% higher than that of the bottom 10 percent.

Salary Trend (2012 to 2016)

The following table and chart show the trend of the median salary of financial managers from 2012 to 2016.

YearMedian SalaryYearly Growth4-Year Growth
2016121,7503.09%9.86%
2015117,9902.26%-
2014115,3202.27%-
2013112,7002.63%-
2012109,740--

Table 2. Financial Manager Salary by Industry Sector

The average salaries of financial managers in 20 major industry sectors are shown in Table 2. We note that the salaries vary considerably within different industry sectors. The highest paying industry sector for financial managers occupations is the mining sector with an annual salary $148,250. The lowest paying sector is the accommodation and food services sector (annual salary $95,710).

Industry Sector Median Annual Salary
Mining
$148,250
Information
$145,790
Professional, Scientific, and Technical Services
$142,300
Management of Companies and Enterprises
$140,650
Utilities
$131,010
Real Estate and Rental and Leasing
$122,780
Manufacturing
$121,270
Wholesale Trade
$120,990
Finance and Insurance
$117,870
Transportation and Warehousing
$113,600
Administrative and Support and Waste Management and Remediation Services
$112,650
Retail Trade
$112,120
Federal, State, and Local Government
$109,380
Health Care and Social Assistance
$108,820
Construction
$108,330
Other Services (except Federal, State, and Local Government)
$107,930
Agriculture, Forestry, Fishing and Hunting
$106,850
Educational Services
$105,970
Arts, Entertainment, and Recreation
$104,480
Accommodation and Food Services
$95,710

Table 3. Median Annual Wage of Financial Managers by States

From the above tables we note that not only financial managers salaries vary considerably based on one's education and experience, and the industry sectors, they also change considerably from state to state. In the following table we compare the median salary of financial managers in all 50 states of the United States. We note that the median annual salaries range from $60,460 to $175,680. The highest paying state for financial managers is New York with a median annual salary of $175,680. The lowest paying state is Guam with a median annual salary of $60,460. For more salary information of financial managers profession in a specific state, use the links in the table.

State Name Median Annual Salary
New York
$175,680
Delaware
$149,140
New Jersey
$147,840
District of Columbia
$141,560
Colorado
$141,200
Virginia
$136,430
California
$134,150
Pennsylvania
$134,100
Maryland
$130,670
Texas
$130,670
Connecticut
$129,860
Rhode Island
$127,060
Georgia
$126,570
North Carolina
$125,810
Florida
$123,570
South Dakota
$121,810
Massachusetts
$121,600
Minnesota
$118,800
Missouri
$117,760
Washington
$114,740
Alabama
$114,350
Nebraska
$113,870
Ohio
$111,310
Illinois
$111,270
Vermont
$110,540
Wisconsin
$110,420
Michigan
$105,130
Kansas
$104,980
New Hampshire
$103,930
Oregon
$103,920
North Dakota
$102,200
South Carolina
$100,820
Alaska
$99,800
Utah
$99,200
Arizona
$97,260
Iowa
$97,040
Indiana
$96,850
Montana
$96,790
Kentucky
$95,350
Maine
$94,850
Nevada
$94,310
Hawaii
$93,940
Wyoming
$93,480
Oklahoma
$90,650
Tennessee
$90,290
Mississippi
$89,150
New Mexico
$87,410
Louisiana
$86,170
West Virginia
$85,810
Arkansas
$84,070
Idaho
$79,570
Virgin Islands
$70,020
Puerto Rico
$69,010
Guam
$60,460


Related:

Highest paying states for financial managers

Highest paying cities for financial managers

Highest paying industries for financial managers.