Financial Managers Salary
Financial Managers in Michigan make a median of $139,370 a year, or about $67.01 an hour. The range runs from $80K at the entry level to $258K for experienced workers. Cost of living is below average (RPP 93.89), which stretches that salary to about $148,440 in buying power. Rent on a 2-bedroom averages $1,272/month, or 15% of estimated take-home pay.
Statewide average. Salary and cost of living vary significantly across Michigan. Jump to a metro for precise data:
So what does $139K get you in Michigan?
About financial managers
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What this looks like in Michigan
Pay for financial managers in Michigan runs about 16% below the U.S. median of $167K. Housing is manageable: a 2-bedroom at the HUD median costs $1,272/month, 15.2% of take-home, well inside the 30% guideline. Regional Price Parity sits at 93.89 (national = 100), meaning everyday costs run about 6% cheaper here. Your dollar stretches further than the headline salary suggests. Lower pay, lower costs, Michigan can be a reasonable trade-off for financial managerss who value affordability over top-dollar markets.
Compensation breakdown
Annual earnings by percentile, Michigan
Entry-level financial managers (10th percentile) start around $80K. Mid-career wages sit at $139K. Top earners bring in $258K or more, a $178K spread from bottom to top.
Financial Managers salary by metro in Michigan
15 metro areas with BLS data, ranked by median pay
| Metro area | Median salary | vs. state | Employment |
|---|---|---|---|
| Midland | $173K | +24% | 310 |
| Detroit-Warren-Dearborn | $160K | +15% | 11,670 |
| Jackson | $150K | +8% | 310 |
| Monroe | $140K | +1% | 150 |
| Ann Arbor | $140K | +0% | 820 |
| Grand Rapids-Wyoming-Kentwood | $133K | -4% | 2,820 |
| Lansing-East Lansing | $133K | -5% | 1,190 |
| Kalamazoo-Portage | $131K | -6% | 560 |
| Saginaw | $129K | -7% | 410 |
| Flint | $129K | -7% | 500 |
| Niles | $128K | -8% | 260 |
| Battle Creek | $127K | -9% | 180 |
| Bay City | $124K | -11% | 120 |
| Muskegon-Norton Shores | $120K | -14% | 180 |
| Traverse City | $120K | -14% | 310 |
Showing 1–10 of 15 metros
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BLS updates this data quarterly. We'll email you when Michigan numbers change.
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Frequently asked questions
Can a financial manager afford a 2BR apartment alone in Michigan?
Yes — at the median salary of $139K, rent takes 15.2% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,272/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for financial managers in Michigan?
The 10th-percentile wage — what new financial managers typically earn — is $80K/year. Take-home on that works out to about $4,817/month. At HUD’s $1,272/month FMR, rent would take 26% of that take-home — manageable on an entry-level income.
Is financial manager a high-paying job in Michigan?
Local pay runs 16% below the national median — $139K here vs. $167K nationally. Cost of living is 6% below the national average, which narrows that gap in real purchasing power.
How does Michigan compare to the national average for financial managers?
Michigan pays $139K median vs. the U.S. average of $167K — that’s -16%. After adjusting for local cost of living (RPP 93.89), the purchasing-power equivalent is $148K — below the national median.
How much do financial managers make in Michigan?
The median is $139,370 a year, that works out to about $67 an hour. But the range is wide: entry-level workers start around $80,280, and experienced financial managers can clear $258,480. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $139K enough to live in Michigan?
On that salary, you'd take home roughly $8,341/month after taxes. A 2-bedroom here rents for about $1,272/month, which eats 15.2% of your paycheck. That's under the 30% guideline most financial planners use, so the numbers work.
How far does a financial managers salary go in Michigan?
Michigan has a Regional Price Parity of 93.89 (100 is the national average). That's below average, your money stretches further here than the raw salary number suggests. After cost-of-living adjustment, the median financial managers salary is worth about $148,440 in national-average purchasing power.
Where do financial managers get paid the most?
The table above ranks every state by median pay for this role. Keep in mind that the highest-paying states tend to have the highest costs of living, so the top salary doesn't always mean the most money in your pocket.