Financial Managers Salary in Minnesota
Official Bureau of Labor Statistics Data - May 2024 - MN
Median Annual Salary in Minnesota
$162,344
$78.05 / hour
▲ 4.0% above national avg
National Median
$156,100
$75.05 / hour nationally
COL-Adjusted Purchasing Power
$157,616
Missouri equivalent (COL: 103)
Financial Managers Salary in Minnesota
| Percentile | Annual Salary |
|---|---|
| 10th (Entry Level) | $86,042 |
| 25th Percentile | $116,888 |
| 50th (Median) | $162,344 |
| 75th Percentile | $224,035 |
| 90th (Top Earners) | $279,232 |
| Source: U.S. Bureau of Labor Statistics OEWS, May 2024 | |
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Cost of Living Adjusted Salary
The Minnesota median salary of $162,344 for Financial Managers has the purchasing power of approximately $157,616 in Missouri (the COL baseline state with index 100).
Minnesota's higher cost of living (COL index: 103) reduces the real purchasing power of wages compared to lower-cost states.
COL data: MERIC 2024 State Cost of Living Index. Missouri = 100 baseline.
Frequently Asked Questions
How much do Financial Managers make in Minnesota?
Financial Managers in Minnesota earn a median annual salary of $162,344 per year ($78.05/hr) according to BLS OEWS data (May 2024). This is above the national median of $156,100.
Is Minnesota a good state for Financial Managers?
Minnesota pays above the national average for financial managers, making it a competitive market for this occupation. Cost of living in Minnesota is near the national average (COL index: 103).
What is the cost-of-living adjusted salary for Financial Managers in Minnesota?
After adjusting for cost of living (COL index: 103 vs. Missouri baseline of 100), the $162,344 salary in Minnesota has the purchasing power of approximately $157,616 in Missouri. Higher living costs in Minnesota reduce real purchasing power.
How does Minnesota compare to neighboring states for Financial Managers salaries?
For detailed comparison across all states, see the full Financial Managers salary page at the national level, which includes a complete 50-state salary table.
Top Paying Jobs in Minnesota
| # | Job Title | Median Annual |
|---|---|---|
| 1 | Anesthesiologists | $345,488 |
| 2 | Radiologists | $322,317 |
| 3 | Orthopedic Surgeons, Except Pediatric | $318,469 |
| 4 | Neurologists | $307,424 |
| 5 | Surgeons, All Other | $306,301 |
| 6 | Ophthalmologists, Except Pediatric | $282,755 |
| 7 | Psychiatrists | $259,790 |
| 8 | Physicians, Pathologists | $253,677 |
| Source: BLS OEWS May 2024 | ||
About Financial Managers in Minnesota
Financial Managers work in their specialized field applying expertise and skills to deliver value in their organization. This occupation is part of the management sector of the U.S. economy.
Education Required: Bachelor's degree