How to Become a Financial Managers in Minnesota
Financial Managers in Minnesota earn a median salary of $158,040/year, which is 2% below the national average. Minnesota has a state income tax of ~6.2%. After taxes and rent, a financial managers takes home approximately $7,670/month. Most positions require Bachelor's degree.
What a financial managers can afford in Minnesota
Becoming a financial managers in Minnesota
Meet education requirements
Financial Managers positions in Minnesota typically require Bachelor's degree. Programs are available at colleges and training institutions across Minnesota. Research accredited programs in your area.
Gain required experience
Many financial managers positions in Minnesota require hands-on experience through internships, apprenticeships, or entry-level roles. Look for training programs and mentorship opportunities in your metro area.
Obtain Minnesota licensure or certification
Minnesota may require specific licensing or professional certification for financial managerss. Requirements vary by state — contact the Minnesota Department of Labor or relevant licensing board for current requirements, exam schedules, and application procedures.
Find positions in Minnesota
Minnesota employs 16,520 financial managers. The highest concentrations are in Minneapolis-St. Paul-Bloomington and Rochester.
Financial Managers salary by metro area in Minnesota
| Metro area | Median | Hourly | Employment |
|---|---|---|---|
| Minneapolis-St. Paul-Bloomington | $163K | $78.52/hr | 12,230 |
| Rochester | $151K | $72.47/hr | 410 |
| St. Cloud | $135K | $65.03/hr | 480 |
| Mankato | $132K | $63.61/hr | 230 |
| Duluth | $128K | $61.38/hr | 450 |
Financial Managers salary range in Minnesota
Financial Managers careers in other states
Frequently asked questions
How much does a financial managers make in Minnesota?▼
The median financial managers salary in Minnesota is $158,040 per year ($75.98/hr). This is 2% below the national median of $161,700. Salaries range from $98,430 to $0.
What are the requirements to become a financial managers in Minnesota?▼
Financial Managers positions in Minnesota typically require Bachelor's degree. Minnesota may have specific licensing or certification requirements. Check with the Minnesota licensing board or department of labor for current requirements.
Can a financial managers afford to live in Minnesota?▼
At the median salary of $158,040, a financial managers in Minnesota would take home approximately $9,082/month after taxes. With median 2-bedroom rent at $1,412/month, that's 15.5% of take-home pay going to housing. This is within the recommended 30% guideline.
What are the best cities for financial managers in Minnesota?▼
The highest paying metro areas for financial managers in Minnesota are Minneapolis-St. Paul-Bloomington ($163,330), Rochester ($150,730), St. Cloud ($135,270). However, cost of living varies significantly between metros — a higher salary may not mean more purchasing power.
Does Minnesota have state income tax for financial managers?▼
Yes, Minnesota has a state income tax rate of approximately 6.2%. On a $158,040 salary, this means roughly $9,789/year in state income tax. Use our take-home pay calculator for a detailed breakdown.