Finance Manager Salary Connecticut
Finance Manager Salary Connecticut – According to the Bureau of Labor Statistics (BLS), 22 financial managers are among the highest paying occupations in the United States based on the latest salary data from 2018. In fact, when you exclude medical occupations from the list , financial managers have the seventh highest annual average salary in the country and earn an average of $146,830 per year.
We have more good news for financial managers. According to the BLS Occupational Outlook Handbook, employment of finance managers is projected to grow 19% between 2016 and 2026 – much faster than average.
Finance Manager Salary Connecticut
However, not all states pay financial managers the same salary. So if you want to make the most money in this field, read the full analysis of where financial managers earn the lowest and where their income is highest.
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A look at salaries by state shows that finance managers earn more than the national average in only 12 states, as well as the District of Columbia:
New York, New Jersey and Connecticut are not surprising, given the quality and number of financial firms located in these states that are centered in New York City.
Geographically, the states with the lowest salaries for financial managers are in the South – Mississippi, West Virginia, Arkansas, Louisiana and Tennessee; and states in the Mountain Division — Idaho, New Mexico. Montana and Utah. The only exception is Alaska, which is located in the Pacific Division of the United States.
Many of the states with the lowest salaries for financial managers are also among the lowest in terms of median household income. According to the US Census Bureau’s 2017 American Community Survey, Mississippi’s No. 49 has the lowest median household income in the country at $42,009; No. 46 Arkansas has the second lowest household income, $43,813; Yes. 48 West Virginia has the third lowest median household income in the United States at $44,061.
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Here’s a look at average finance manager salaries by state. Each state’s overall rating is listed and DC is included. Below is a full breakdown of status 50 for financial managers.
In addition to current financial manager salaries by state, we also looked at changes over the years. The state with the biggest growth over the past five years is Maine, where the average salary rose from $90,930 in 2013 to $119,080 in 2018. In Hawaii and Wisconsin, average salaries for financial managers increased by more than a quarter from 2013 to 2018. And in 16 state along with D.C. average annual wages increased by 20% or more. Earlier this year, we released the 2017 State of Job Managers report, a first-of-its-kind study of the office manager role – and the brave men and women who fill it.
In the report, we heard that the role of the managing officer is constantly expanding, in terms of scope and strategic importance. Collaborative Managers today are increasingly tasked with responsibilities traditionally held by HR, finance or operations.
Take event planning for example. 84% of our respondents said that planning corporate events is now on their plate. Similarly, 66% of respondents told us they were responsible for hiring new employees and helping employees transition to new jobs.
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The smartphone revolution has ushered in an age of accessibility, and office managers are feeling it. 52% of those who responded to the survey said that their boss expected them to be on call outside normal business hours.
Unsurprisingly, more than a third (35%) described disconnecting outside of work as either harder or much more challenging than it was 2-3 years ago.
At a high level, it was found that wages were only slowly catching up with the increasing importance and scope of this function. According to data from Indeed, SimplyHired and PayScale, the average salary for office managers in the US is $39,400 per year.
Not surprisingly, the issue of compensation is a concern for most OMs. For starters, we’ve learned that office managers don’t always feel comfortable negotiating a higher salary.
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A full third of our survey respondents told us that negotiating their own compensation was either a “big challenge” or one of their “most common challenges.”
(Check out the Office Manager’s Guide to Asking for a Raise for some real tips from people who have done it.)
Similarly, when we asked our survey participants why they might look for another job, salary was the most common reason.
Salaries vary, of course. We’ve found that things like company revenue can have a big impact on this variance (higher revenue, higher wages). Experience also plays a role, although we’ve found that OM salaries cap at around $57,000 regardless of years on the job.
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Let’s face it, where you work matters. Factors such as income inequality, taxation and cost of living can vary greatly depending on which state you call home.
So we took the data, sorted it by state, and broke down the best (and worst) states for office manager salaries.
A few things surprised us. The best salaries for office managers were actually in North Dakota, despite the fact that it ranked 26th in terms of cost of living (from best to worst). Similarly, the state with the highest cost of living (Hawaii) did not make our top ten highest salaries.
Free Bonus: Get a PDF version of the State of the Office 2018. We surveyed 572 office managers to reveal 10 tips you can use to achieve your goals and overcome challenges. Plus, find out what other Office admins are getting paid (and how you can earn more)!
Financial Manager Salary & Payment
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This website uses Google Analytics to collect anonymous information such as the number of visitors to the website and the most popular pages. Average salary of a financial manager $101, 374 per year When creating salary estimates, we start with data published in publicly available sources, such as the United States. Bureau of Labor Statistics (BLS), Foreign Labor Certification Data Center (FLC) See more
Financial managers earn an average of $101,374 per year or $48.74 per hour in the US. Financial managers at the lowest end of the spectrum, the bottom 10% to be exact, earn around $71,000 a year, while the top 10% earn $144,000. Location affects how much a financial manager can expect. Financial managers earn the most in New York, New Jersey, Massachusetts, Connecticut and California.
Although a financial manager may have an average salary of $101,374 per year or $48.74 per hour, there are many opportunities for financial managers to earn more. For example, in New York, NY, you can earn $119,136 per year. Other high paying locations include San Francisco, CA, Jersey City, NJ, and Boston, MA. If you’re in an entry-level position, your best bet is to move to New York, NY, where the average starting salary is $81,000. The states with the highest salaries for financial managers include New York, New Jersey and Massachusetts. Meanwhile, Florida, Louisiana and Nebraska offer the lowest wages.
The salary of a financial manager can vary depending on the years of experience a person has, from entry level to advanced level. An accountant with 0 to 2 years of experience earns an average salary of $69,700, a mid-career professional with 3 to 6 years of experience earns an average of $101,374 per year, and a senior accountant has 7 to 12 years. Experience enjoys an average annual salary of $165,807. Data on how experience level affects overall compensation is provided by the Bureau of Labor Statistics (BLS) as part of its National Compensation Survey, which is based on factors such as knowledge, complexity, connections and environment.
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The companies that pay the most for financial managers are Barclays and BNP Paribas, according to our latest salary estimates. In addition, companies such as Pacific Investment Management Company LLC and The Carlyle Group list very competitive salaries for financial managers.
Here are some examples of how much finance manager salaries can vary based on different industries: The finance industry pays an average salary of $118,926 to finance managers. The technology industry pays $115,985 The lowest paying industry for financial managers is the healthcare industry. Financial managers in this industry earn an average salary of $97,583
New York pays the most financial managers in the United States, with an average salary of $118,975 per year or $57.20 per hour.
You will know if you are fairly compensated as a financial manager if your salary is close to the average salary in the state in which you live. For example, if you live in New Jersey, you should get about $108,398 a year.
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The financial vice president receives the highest salary. The vice president of finance did a
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