Financial Managers Employment and Wages in 2022

In 2022, the Financial Managers occupation accounted for over 741 thousand jobs in the United States, reflecting an increase of 8.8% from 2021. The annual mean wage in 2022 was $166,050, and the median wage was $139,790. Compared to the national average for all occupations, the wages for this occupation were higher by 168.3%.

Industry Sub-Groups

Among industry sectors, Finance and Insurance held the largest number of jobs for the Financial Managers occupation, employing over 226 thousand people in 2022. The annual mean wage in this sector was $172,820, with a median wage of $139,980. There was an increase in wage variance to the national average compared to 2021, with the variance shifting from 1.8% to 4.1%, indicating industry sector wages outpaced national wage trends.

Professional, Scientific, and Technical Services accounted for a substantial employment share for this occupation, with 107 thousand people employed in 2022. The annual mean wage for this sub-group was $183,000, and the median wage was $164,490. In terms of wage variance to the national average, there was an increase compared to 2021, with the variance shifting from 9.9% to 10.2%.

The Management of Companies and Enterprises sector also had considerable industry employment, with approximately 84 thousand people employed in 2022. The annual mean wage in this sub-group was $181,860 and the median wage was $164,660. The wage variance to the national average experienced an increase compared to 2021, with the variance shifting from 8.5% to 9.5%.

Highest Location Concentration

When we examine the top locations in terms of proportional employment within the Financial Managers occupation, we find that Bridgeport-Stamford-Norwalk, CT had the highest concentration of jobs (3.6 times the national occupational employment share). The location had an annual mean wage in 2022, at $191,850, and a median wage of $168,500. The location variance to the national average was 15.5%. Hartford-West Hartford-East Hartford, CT had the next highest concentration of jobs (2.6 times the national occupational employment share) and an annual mean wage of $160,990 and a median wage of $148,180. The industry variance to the national average was -3%. Boston-Cambridge-Nashua, MA-NH had 2 times the national occupational employment share and an annual mean wage of $183,550 and a median wage of $161,400. The industry variance to the national average was 10.5%.

Summary

In 2022, the Financial Managers occupation saw substantial growth, with an 8.8% increase in employment, totaling more than 741 thousand jobs in the US. Impressively, the occupation commanded significantly higher wages, with an annual mean wage of $166,050 and a median wage of $139,790, surpassing the national average for all occupations by a remarkable 168.3%. Within industry sectors, Finance and Insurance claimed the most significant portion of Financial Managers' jobs, employing over 226 thousand individuals in 2022, with wages outpacing national trends. Professional, Scientific, and Technical Services also played a prominent role, with an annual mean wage of $183,000, while the Management of Companies and Enterprises sector employed around 84 thousand individuals, reporting higher wage variance. When examining top employment locations like Bridgeport-Stamford-Norwalk, CT and Hartford-West Hartford-East Hartford, CT, both demonstrated high concentrations of jobs and notable wages, while Boston-Cambridge-Nashua, MA-NH showcased substantial employment share and competitive wages, surpassing the national average.

For more detailed insights, visit our Financial Managers Dashboard or consider purchasing Aimiax’s 2022 Financial Managers Occupation Report.