A new study highlighted that Colorado is the tenth-best state for financial manager career opportunities nationwide.
The research by the global executive search firm, Keller, analyzed employment levels and compensation for financial managers across all U.S. states. It examined two primary metrics: Employment per 100,000 Residents May 2024 and Annual Mean Wage May 2024. Each metric was then assigned a score: Employment per 100,000 Residents (scored out of 40 points) and Annual Mean Wage (scored out of 60 points). These metrics were totaled to rank the states from highest to lowest opportunity on a 100-point scale, with higher scores indicating better financial manager opportunities.
Colorado ranks tenth with a financial manager opportunity score of 62.7/100. The Centennial State demonstrates limited opportunity with 11,460 financial managers employed and 192 employment per 100,000 residents (scoring 14/40). The state also offers strong compensation with an annual mean wage of $198,380 (scoring 49/60).
Looking at the study, a spokesperson from Keller commented:
“The research reveals that Colorado is an exemplary model of financial manager opportunities, with strong employment levels and competitive compensation packages creating attractive career environments.
“The data further suggests that states with higher financial manager opportunity scores tend to create more robust financial sectors that support economic growth and provide excellent career advancement prospects.
“To improve financial manager opportunities, other states should prioritize developing their financial sectors, attract major financial institutions, and ensure competitive compensation packages. Addressing regulatory barriers through comprehensive business-friendly initiatives could also significantly improve employment opportunities and wage competitiveness.”
Table for Extended Results
|
Top 10 U.S. States With the Best Financial Manager Opportunities |
||
|---|---|---|
|
State |
Total Score out of 100 |
Rank |
|
Connecticut |
88 |
1 |
|
New York |
85 |
2 |
|
Massachusetts |
79 |
3 |
|
New Jersey |
77 |
4 |
|
Illinois |
74 |
5 |
|
California |
70 |
6 |
|
Delaware |
68 |
7 |
|
Maryland |
64 |
8 |
|
Virginia |
63 |
9 |
|
Colorado |
62.7 |
10 |
The study was conducted by Keller, a recruitment firm that helps organizations strengthen their market position through the right people.
Methodology
The study analyzed employment levels and compensation for financial managers across the top 10 U.S. states. It examined two primary metrics: Employment per 100,000 Residents May 2024 and Annual Mean Wage May 2024 in dollars. Each metric was then assigned a score: Employment per 100,000 Residents (scored out of 40 points) and Annual Mean Wage (scored out of 60 points). These metrics were totaled to rank the states from highest to lowest opportunity on a 100-point scale, with higher scores indicating better financial manager opportunities.
Data Sources
- Bureau of Labor Statistics Occupational Employment and Wage Statistics: https://data.bls.gov/oesmap/
- Research Dataset: https://docs.google.com/spreadsheets/d/1tW95TS05VPw3R0M1IFP-aSxovGtZVU3L7391d3D9KoA/edit?gid=0#gid=0
- Study by: https://www.kellerexecutivesearch.com/
