Hiring a financial manager in Philadelphia, PA

Do Philadelphia residents in management work earn more than employers in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD area pay?

Philadelphia residents working in management occupations earn a median of $78,949 (Census ACS 5-year 2023, tables S2401 and B24011), against $124,850 as the median of the 35 wages BLS publishes for that same occupation group in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD area (BLS OEWS, May 2025), a difference of 37%, with the employers figure the higher of the two.

Both sides of that figure describe the whole management group, not this one role. In the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD area the group covers 35 occupations BLS publishes a wage for, from education and childcare administrators, preschool and daycare at $58,960 to chief executives at $292,770 (BLS OEWS, May 2025), with financial managers at $166,920 inside it.

That comparison is between two different measures, not a pay gap. The two weight the same occupation group differently: the Census figure is the midpoint across the people who actually hold those jobs, so a group carrying a few very well paid occupations is pulled toward them, while the BLS figure is the midpoint across the 35 published occupation wages, which counts each of those occupations once whatever its headcount. Census also counts where people live and BLS counts where the jobs are, and the two cover different populations, Census the civilian employed population 16 and over, BLS wage-and-salary jobs only. Read the number against other cities, where the same definitional difference applies on both sides, rather than as a shortfall.

Published wages across this group in the metro run above what Philadelphia residents in it earn, which usually means employers here draw this talent from beyond the city line rather than from inside it.

Is the talent actually in Philadelphia?

This is a job zone five: extensive preparation needed occupation. Most of these occupations require graduate school. For example, they may require a master's degree, and some require a Ph.D., M.D., or J.D. (law degree). O*NET OnLine, SOC 11-3031.

That matters here, because 34.6% of Philadelphia adults hold a bachelor's degree or higher. That is a workable pool, but the search will reach beyond the city line. Census ACS 5-year 2023, table S1501, residents of Philadelphia aged 25 and over.

The average Philadelphia commute runs 32 minutes, which is roughly how far your catchment reaches before candidates start saying no. 16.4% of Philadelphia workers already work from home, so a fully onsite requirement here is competing against that. Census ACS 5-year 2023, place-level commuting characteristics for Philadelphia.

How often do these jobs turn over?

In Philadelphia County, management of companies and enterprises employs 13,920 and turns over 7.3% a quarter, with 1,191 hires against 1,235 separations. Average earnings in that industry run $16,506 a month. Census LEHD Quarterly Workforce Indicators, 2024 Q1, NAICS 55.

That figure covers every occupation in the industry, not this role alone, so read it as the local churn rate rather than as a number about financial managers. It still tells you what you are hiring into: a normal churn rate, where a well-run search closes on schedule.

What does the search cost?

The fee is set by the seniority of the role, never by salary and never by location. Across all six tiers it runs $6,240 to $54,340 per search. A contingency firm hiring at this role's $166,920 median in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD area (BLS OEWS, May 2025) would bill roughly $33,384 to $50,076 on the first year salary alone.

One owner runs the search from market map to signed offer. Searches typically fill in 23 to 35 days, which is a typical window rather than a promise, and the replacement guarantee runs 45 days at 50% off.

Questions employers ask about hiring a financial manager in Philadelphia

What does it cost to hire a financial manager in Philadelphia?

Tier I to Tier VI, $6,240 to $54,340 per search, set by the seniority of the role and never by salary or location. A contingency firm billing 20 to 30% of this role's $166,920 median wage in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD area (BLS OEWS, May 2025) would charge roughly $33,384 to $50,076 on the first year salary alone.

What should an offer for a financial manager in Philadelphia look like?

Employers in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD area pay financial managers a median of $166,920, with the middle half of the market between $130,490 and $217,480 (BLS OEWS, May 2025). A band set below $130,490 competes for the bottom quarter of that market.

Do Philadelphia residents in management work earn more than employers in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD area pay?

Philadelphia residents working in management occupations earn a median of $78,949 (Census ACS 5-year 2023, tables S2401 and B24011), against $124,850 as the median of the 35 wages BLS publishes for that same occupation group in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD area (BLS OEWS, May 2025), a difference of 37%. Both figures cover the whole occupation group rather than this one role, and one counts where people live while the other counts where the jobs are, so the percentage is not a pay gap.

Is the talent for this role already in Philadelphia?

This is a job zone 5 occupation, which usually calls for a bachelor's degree, and 34.6% of Philadelphia adults hold one or higher (Census ACS 5-year 2023, table S1501). That is a workable pool, though the search will reach beyond the city line.

Related

• Hiring Financial Managers: the role, the pay, the process
• Recruiting services in Philadelphia
• Every Pennsylvania city we cover

Philadelphia is the largest of 2 Pennsylvania cities in this dataset.