How to Become a Financial Managers in Maryland
Financial Managers in Maryland earn a median salary of $158,750/year, which is 5% below the national average. Maryland has a state income tax of ~4.8%. After taxes and rent, a financial managers takes home approximately $7,906/month. Most positions require Bachelor's degree.
What a financial managers can afford in Maryland
Becoming a financial managers in Maryland
Meet education requirements
Financial Managers positions in Maryland typically require Bachelor's degree. Programs are available at colleges and training institutions across Maryland. Research accredited programs in your area.
Gain required experience
Many financial managers positions in Maryland require hands-on experience through internships, apprenticeships, or entry-level roles. Look for training programs and mentorship opportunities in your metro area.
Obtain Maryland licensure or certification
Maryland may require specific licensing or professional certification for financial managerss. Requirements vary by state, contact the Maryland Department of Labor or relevant licensing board for current requirements, exam schedules, and application procedures.
Find positions in Maryland
Maryland employs 19,770 financial managers. The highest concentrations are in Baltimore-Columbia-Towson and Lexington Park.
Financial Managers salary by metro area in Maryland
| Metro area | Median | Hourly | Employment |
|---|---|---|---|
| Baltimore-Columbia-Towson | $158K | $75.96/hr | 9,990 |
| Lexington Park | $139K | $66.87/hr | 290 |
| Hagerstown-Martinsburg | $134K | $64.23/hr | 380 |
| Salisbury | $128K | $61.47/hr | 310 |
Financial Managers salary range in Maryland
Financial Managers careers in other states
Frequently asked questions
How much does a financial managers make in Maryland?▼
The median financial managers salary in Maryland is $158,750 per year ($76.32/hr). This is 5% below the national median of $166,570. Salaries range from $84,030 to $290,190.
What are the requirements to become a financial managers in Maryland?▼
Financial Managers positions in Maryland typically require Bachelor's degree. Maryland may have specific licensing or certification requirements. Check with the Maryland licensing board or department of labor for current requirements.
Can a financial managers afford to live in Maryland?▼
At the median salary of $158,750, a financial managers in Maryland would take home approximately $9,305/month after taxes. With median 2-bedroom rent at $1,399/month, that's 15% of take-home pay going to housing. This is within the recommended 30% guideline.
What are the best cities for financial managers in Maryland?▼
The highest paying metro areas for financial managers in Maryland are Baltimore-Columbia-Towson ($157,990), Lexington Park ($139,100), Hagerstown-Martinsburg ($133,590). However, cost of living varies significantly between metros, a higher salary may not mean more purchasing power.
Does Maryland have state income tax for financial managers?▼
Yes, Maryland has a state income tax rate of approximately 4.8%. On a $158,750 salary, this means roughly $7,601/year in state income tax. Use our take-home pay calculator for a detailed breakdown.