Financial Manager Salary in Michigan
Based on 22K+ workers in Michigan
Median Annual Salary (MI)
$139,370
$67.00/hr
vs National Average
$150,742
-7.5% vs national median
Salary Range (10th–90th)
$80K – $258K
22K employed in Michigan
Financial Manager salary in Michigan averages $139,370 per year, according to current labor data. This represents compensation for approximately 22,490 workers employed in the state. While Michigan offers solid opportunities in financial management, the state's median falls about 8% below the national average, reflecting regional economic variations and cost-of-living differences across the country.
Several factors influence Financial Manager salary in Michigan, including years of experience, industry sector, company size, and educational credentials. Geographic location within the state matters too, with metropolitan areas typically offering higher compensation than rural regions. Additionally, individual performance, specialized certifications, and the complexity of financial responsibilities all play roles in determining where professionals fall within the $80,280 to $258,480 salary range.
Salary Distribution — Financial Manager in Michigan
| Percentile | Annual Salary |
|---|---|
| 10th percentile | $80,280 |
| 25th percentile | $105,490 |
| Median (50th percentile) | $139,370 |
| 75th percentile | $182,120 |
| 90th percentile | $258,480 |
Top-Paying Industries for Financial Manager (U.S.)
Which industries pay Financial Managers the most — nationwide figures (industry-level data is not available by state). Financial Managers in Michigan tend to follow these industry patterns.
| Industry (U.S.) | Median Salary | Employed (U.S.) |
|---|---|---|
| Information | $205,070 | 24K |
| Mining, Quarrying, and Oil and Gas Extraction | $193,560 | 4K |
| Utilities | $175,360 | 5K |
| Professional, Scientific, and Technical Services | $174,170 | 123K |
| Management of Companies and Enterprises | $172,340 | 94K |
Source: U.S. BLS OEWS National Industry-Specific estimates, May 2025. National figures (not state-specific).
Historical Salary Trend — Financial Manager in Michigan vs National
| Year | Median Salary (Michigan) |
|---|---|
| 2022 | $128,010 |
| 2023 | $131,770 |
| 2024 | $135,290 |
| 2025 | $139,370 |
| 2026 (projected) | $143,573 |
The latest year is a projection based on recent wage trends — BLS has not yet released that year’s data.
| Year | Michigan Median | National Median |
|---|---|---|
| 2022 | $128,010 | $131,705 |
| 2023 | $131,770 | $138,788 |
| 2024 | $135,290 | $144,016 |
| 2025 | $139,370 | $150,742 |
| 2026 (projected) | $143,573 | $155,288 |
Financial Manager Salary by Experience Level in Michigan
| Experience Level | Years | Median Annual Salary |
|---|---|---|
| Junior | 0-2 yrs | $105,490 |
| Mid-level | 3-5 yrs | $139,370 |
| Senior | 6-9 yrs | $182,120 |
| Staff / Lead | 10+ yrs | $258,480 |
Financial Manager Salary in Other States
Related Financial Manager Salaries in Michigan
How other high-demand occupations in Michigan compare to Financial Manager ($139,370 median).
| Occupation | Median Salary | vs Financial Manager | Hourly |
|---|---|---|---|
| Economist in MI | $106,350 | -23.7% | $51.13/hr |
| Actuary in MI | $100,640 | -27.8% | $48.38/hr |
| Budget Analyst in MI | $96,430 | -30.8% | $46.36/hr |
| Financial Analyst in MI | $95,420 | -31.5% | $45.88/hr |
| Accountant in MI | $78,820 | -43.4% | $37.89/hr |
| Personal Financial Advisor in MI | $77,930 | -44.1% | $37.47/hr |
| Compliance Officer in MI | $77,390 | -44.5% | $37.21/hr |
| Tax Examiner in MI | $75,040 | -46.2% | $36.08/hr |
| Credit Analyst in MI | $74,640 | -46.4% | $35.88/hr |
| Loan Officer in MI | $74,470 | -46.6% | $35.80/hr |
| Securities Sales Agent in MI | $73,480 | -47.3% | $35.33/hr |
| Financial Examiner in MI | $71,050 | -49.0% | $34.16/hr |
Frequently Asked Questions
How much do financial managers make in Michigan?
- The median salary for financial managers in Michigan is $139,370 per year, or $67 per hour. This is approximately 7.5% below the national average for this position.
What is the salary range for financial managers in Michigan?
- Financial manager salaries in Michigan range from $80,280 at the lower end to $258,480 at the upper end, representing significant variation based on experience, education, and employer size.
How many financial managers are employed in Michigan?
- There are approximately 22,490 financial managers currently employed in Michigan, making it a substantial job market for this profession in the state.
Is the Michigan financial manager salary higher or lower than the national average?
- Michigan's median financial manager salary of $139,370 is 7.5% lower than the national average, indicating the state pays less than the typical U.S. rate for this role.