Occupational Employment and Wage Statistics
SHARE ON:
Occupational Employment and Wages, May 2023
11-3031 Financial Managers
Plan, direct, or coordinate accounting, investing, banking, insurance, securities, and other financial activities of a branch, office, or department of an establishment. Excludes “Financial Risk Specialists” (13-2054).
National estimates for Financial Managers
Industry profile for Financial Managers
Geographic profile for Financial Managers
National estimates for Financial Managers:
Employment estimate and mean wage estimates for Financial Managers:
| Employment (1) |
Employment
RSE (3) |
Mean hourly
wage |
Mean annual
wage (2) |
Wage RSE (3) |
| 787,340 |
1.0 % |
$ 84.05 |
$ 174,820 |
0.5 % |
Percentile wage estimates for Financial Managers:
| Percentile |
10% |
25% |
50%
(Median) |
75% |
90% |
| Hourly Wage |
$ 39.84 |
$ 52.98 |
$ 75.05 |
$ 101.36 |
(5) |
| Annual Wage (2) |
$ 82,870 |
$ 110,190 |
$ 156,100 |
$ 210,830 |
(5) |
Industry profile for Financial Managers:
Industries with the highest published employment and wages for Financial Managers are provided.
For a list of all industries with employment in Financial Managers, see the Create Customized Tables function.
Industries with the highest levels of employment in Financial Managers:
| Industry |
Employment (1) |
Percent of industry employment |
Hourly mean wage |
Annual mean wage (2) |
| Credit Intermediation and Related Activities (5221 and 5223 only) |
106,250 |
5.21 |
$ 69.17 |
$ 143,870 |
| Management of Companies and Enterprises |
91,150 |
3.29 |
$ 91.59 |
$ 190,520 |
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities |
60,080 |
5.65 |
$ 119.84 |
$ 249,260 |
| Accounting, Tax Preparation, Bookkeeping, and Payroll Services |
47,830 |
4.35 |
$ 90.99 |
$ 189,250 |
| Insurance Carriers |
33,440 |
2.73 |
$ 87.18 |
$ 181,340 |
Industries with the highest concentration of employment in Financial Managers:
| Industry |
Employment (1) |
Percent of industry employment |
Hourly mean wage |
Annual mean wage (2) |
| Other Investment Pools and Funds |
1,170 |
6.28 |
$ 112.04 |
$ 233,050 |
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities |
60,080 |
5.65 |
$ 119.84 |
$ 249,260 |
| Credit Intermediation and Related Activities (5221 and 5223 only) |
106,250 |
5.21 |
$ 69.17 |
$ 143,870 |
| Monetary Authorities-Central Bank |
970 |
4.47 |
$ 98.85 |
$ 205,600 |
| Nondepository Credit Intermediation |
24,160 |
4.39 |
$ 84.91 |
$ 176,610 |
Top paying industries for Financial Managers:
| Industry |
Employment (1) |
Percent of industry employment |
Hourly mean wage |
Annual mean wage (2) |
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities |
60,080 |
5.65 |
$ 119.84 |
$ 249,260 |
| Motion Picture and Video Industries |
2,680 |
0.66 |
$ 116.98 |
$ 243,310 |
| Pipeline Transportation of Natural Gas |
220 |
0.66 |
$ 112.13 |
$ 233,230 |
| Other Investment Pools and Funds |
1,170 |
6.28 |
$ 112.04 |
$ 233,050 |
| Water, Sewage and Other Systems |
260 |
0.44 |
$ 111.85 |
$ 232,660 |
Geographic profile for Financial Managers:
States and areas with the highest published employment, location quotients, and wages for Financial Managers are provided.
For a list of all areas with employment in Financial Managers, see the Create Customized Tables function.
States with the highest employment level in Financial Managers:
| State |
Employment (1) |
Employment per thousand jobs |
Location quotient (9) |
Hourly mean wage |
Annual mean wage (2) |
| California |
97,400 |
5.43 |
1.05 |
$ 94.55 |
$ 196,670 |
| Texas |
63,800 |
4.71 |
0.91 |
$ 82.20 |
$ 170,970 |
| New York |
62,800 |
6.69 |
1.29 |
$ 115.94 |
$ 241,150 |
| Illinois |
48,810 |
8.12 |
1.57 |
$ 83.28 |
$ 173,210 |
| Florida |
42,740 |
4.47 |
0.86 |
$ 77.97 |
$ 162,180 |
States with the highest concentration of jobs and location quotients in Financial Managers:
| State |
Employment (1) |
Employment per thousand jobs |
Location quotient (9) |
Hourly mean wage |
Annual mean wage (2) |
| Connecticut |
19,440 |
11.71 |
2.26 |
$ 85.74 |
$ 178,340 |
| District of Columbia |
7,570 |
10.79 |
2.08 |
$ 91.65 |
$ 190,630 |
| Massachusetts |
31,370 |
8.61 |
1.66 |
$ 92.33 |
$ 192,040 |
| New Jersey |
34,530 |
8.22 |
1.58 |
$ 100.18 |
$ 208,370 |
| Illinois |
48,810 |
8.12 |
1.57 |
$ 83.28 |
$ 173,210 |
Top paying states for Financial Managers:
| State |
Employment (1) |
Employment per thousand jobs |
Location quotient (9) |
Hourly mean wage |
Annual mean wage (2) |
| New York |
62,800 |
6.69 |
1.29 |
$ 115.94 |
$ 241,150 |
| New Jersey |
34,530 |
8.22 |
1.58 |
$ 100.18 |
$ 208,370 |
| California |
97,400 |
5.43 |
1.05 |
$ 94.55 |
$ 196,670 |
| Delaware |
2,670 |
5.69 |
1.10 |
$ 94.17 |
$ 195,880 |
| Massachusetts |
31,370 |
8.61 |
1.66 |
$ 92.33 |
$ 192,040 |
Metropolitan areas with the highest employment level in Financial Managers:
| Metropolitan area |
Employment (1) |
Employment per thousand jobs |
Location quotient (9) |
Hourly mean wage |
Annual mean wage (2) |
| New York-Newark-Jersey City, NY-NJ-PA |
76,600 |
8.07 |
1.56 |
$ 116.39 |
$ 242,100 |
| Chicago-Naperville-Elgin, IL-IN-WI |
39,420 |
8.75 |
1.69 |
$ 87.01 |
$ 180,980 |
| Los Angeles-Long Beach-Anaheim, CA |
34,810 |
5.63 |
1.09 |
$ 93.07 |
$ 193,580 |
| Boston-Cambridge-Nashua, MA-NH |
27,030 |
9.79 |
1.89 |
$ 94.75 |
$ 197,080 |
| Dallas-Fort Worth-Arlington, TX |
23,520 |
5.93 |
1.14 |
$ 84.02 |
$ 174,770 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV |
23,050 |
7.45 |
1.44 |
$ 91.85 |
$ 191,040 |
| San Francisco-Oakland-Hayward, CA |
19,760 |
8.16 |
1.57 |
$ 107.66 |
$ 223,930 |
| Atlanta-Sandy Springs-Roswell, GA |
16,180 |
5.74 |
1.11 |
$ 91.35 |
$ 190,000 |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD |
16,110 |
5.69 |
1.10 |
$ 85.22 |
$ 177,250 |
| Houston-The Woodlands-Sugar Land, TX |
15,470 |
4.87 |
0.94 |
$ 89.32 |
$ 185,790 |
Metropolitan areas with the highest concentration of jobs and location quotients in Financial Managers:
| Metropolitan area |
Employment (1) |
Employment per thousand jobs |
Location quotient (9) |
Hourly mean wage |
Annual mean wage (2) |
| Bridgeport-Stamford-Norwalk, CT |
6,910 |
17.22 |
3.32 |
$ 96.69 |
$ 201,100 |
| Hartford-West Hartford-East Hartford, CT |
7,040 |
12.49 |
2.41 |
$ 82.34 |
$ 171,260 |
| Des Moines-West Des Moines, IA |
4,160 |
10.84 |
2.09 |
$ 73.62 |
$ 153,140 |
| Trenton, NJ |
2,470 |
10.35 |
2.00 |
$ 94.12 |
$ 195,760 |
| Boston-Cambridge-Nashua, MA-NH |
27,030 |
9.79 |
1.89 |
$ 94.75 |
$ 197,080 |
| Danbury, CT |
680 |
8.81 |
1.70 |
$ 76.08 |
$ 158,240 |
| Chicago-Naperville-Elgin, IL-IN-WI |
39,420 |
8.75 |
1.69 |
$ 87.01 |
$ 180,980 |
| San Francisco-Oakland-Hayward, CA |
19,760 |
8.16 |
1.57 |
$ 107.66 |
$ 223,930 |
| Dubuque, IA |
470 |
8.08 |
1.56 |
$ 58.48 |
$ 121,630 |
| New York-Newark-Jersey City, NY-NJ-PA |
76,600 |
8.07 |
1.56 |
$ 116.39 |
$ 242,100 |
Top paying metropolitan areas for Financial Managers:
| Metropolitan area |
Employment (1) |
Employment per thousand jobs |
Location quotient (9) |
Hourly mean wage |
Annual mean wage (2) |
| New York-Newark-Jersey City, NY-NJ-PA |
76,600 |
8.07 |
1.56 |
$ 116.39 |
$ 242,100 |
| San Jose-Sunnyvale-Santa Clara, CA |
8,580 |
7.51 |
1.45 |
$ 113.89 |
$ 236,890 |
| San Francisco-Oakland-Hayward, CA |
19,760 |
8.16 |
1.57 |
$ 107.66 |
$ 223,930 |
| Midland, TX |
640 |
5.54 |
1.07 |
$ 98.80 |
$ 205,500 |
| Bridgeport-Stamford-Norwalk, CT |
6,910 |
17.22 |
3.32 |
$ 96.69 |
$ 201,100 |
| Seattle-Tacoma-Bellevue, WA |
8,560 |
4.12 |
0.79 |
$ 96.20 |
$ 200,100 |
| Midland, MI |
240 |
6.76 |
1.30 |
$ 95.37 |
$ 198,360 |
| Boston-Cambridge-Nashua, MA-NH |
27,030 |
9.79 |
1.89 |
$ 94.75 |
$ 197,080 |
| Trenton, NJ |
2,470 |
10.35 |
2.00 |
$ 94.12 |
$ 195,760 |
| Boulder, CO |
750 |
3.87 |
0.75 |
$ 93.87 |
$ 195,240 |
Nonmetropolitan areas with the highest employment in Financial Managers:
Nonmetropolitan areas with the highest concentration of jobs and location quotients in Financial Managers:
Top paying nonmetropolitan areas for Financial Managers:
About May 2023 National, State, Metropolitan, and Nonmetropolitan Area Occupational Employment and Wage Estimates
These estimates are calculated with data collected from employers in all industry sectors, all metropolitan and nonmetropolitan areas, and all states and the District of Columbia.
The top employment and wage figures are provided above. The complete list is available in the downloadable XLS files.
The percentile wage estimate is the value of a wage below which a certain percent of workers fall.
The median wage is the 50th percentile wage estimate—50 percent of workers earn less than the median and 50 percent of workers earn more than the median.
More about percentile wages.
(1) Estimates for detailed occupations do not sum to the totals because the totals include occupations not shown separately. Estimates do not include self-employed workers.
(2) Annual wages have been calculated by multiplying the hourly mean wage by a "year-round, full-time" hours figure of 2,080 hours;
for those occupations where there is not an hourly wage published, the annual wage has been directly calculated from the reported survey data.
(3) The relative standard error (RSE) is a measure of the reliability of a survey statistic. The smaller the relative standard error, the more precise the estimate.
(5) This wage is equal to or greater than $115.00 per hour or $239,200 per year.
(9) The location quotient is the ratio of the area concentration of occupational employment to the national average concentration.
A location quotient greater than one indicates the occupation has a higher share of employment than average, and a location quotient less than one indicates the occupation is less prevalent in the area than average.
Other OEWS estimates and related information:
May 2023 National Occupational Employment and Wage Estimates
May 2023 State Occupational Employment and Wage Estimates
May 2023 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates
May 2023 National Industry-Specific Occupational Employment and Wage Estimates
May 2023 Occupation Profiles
Technical Notes
Last Modified Date: April 3, 2024
United States Department of Labor
