Financial Managers salary in Detroit, MI
Median pay for financial managers in Detroit, MI: $135,320/yr
Typical range (10th–90th percentile): $76,860 – $226,650 · about 10,180 employed locally
Above the typical metro median ($131,810) by +$3,510 (+3%).
What it's really worth in Detroit
With Detroit's cost of living at 98 (US=100), that $135,320 has the buying power of about $137,819 in an average-cost US metro.
Local context: median household income $72,456 · median home $269,080 · median rent $1,500/mo.
How Detroit ranks for this job
On raw pay, Detroit, MI is 76th of the 187 metros we hold financial managers wages for. Once Detroit's cost of living is applied, it ranks 96th.
The headline number flatters Detroit. Once housing and everyday costs are taken into account, financial managers here keep less of what they earn than the raw salary implies.
What that salary buys in Detroit
A median home in Detroit, MI costs $269,080 — about 2× this salary, against a typical US metro figure of 4.7×. Buying is more attainable here than in the average metro on this income.
Median rent of $1,500/mo works out at 13% of gross pay — inside the conventional 30% affordability ceiling.
Where financial managers earn more
Pay on its own is only half the picture, so each row shows what rent costs there relative to Detroit.
| Metro | Median pay | vs Detroit | Rent vs Detroit |
|---|---|---|---|
| New York, NY | $215,630 | +59% | 2.3× |
| San Jose, CA | $211,850 | +57% | 2.4× |
| San Francisco, CA | $203,620 | +50% | 2.2× |
| Boulder, CO | $176,880 | +31% | 1.5× |
Same job elsewhere in MI
| Metro | Median pay | vs Detroit | Rent vs Detroit |
|---|---|---|---|
| Ann Arbor, MI | $135,050 | +0% | 1.4× |
| Lansing, MI | $128,240 | −5% | 0.8× |
| Kalamazoo, MI | $127,690 | −6% | 0.9× |
| Grand Rapids, MI | $127,660 | −6% | 1.1× |
Staying in MI keeps state income tax and licensing the same, which makes these the most directly comparable moves.
Who hires financial managers around Detroit
Large local employers in sectors that typically employ this role.
- Rocket Companies · Finance
- Henry Ford Health · Healthcare
Other jobs in Detroit
Source: US BLS OEWS (May 2023) median annual wage; cost of living from BEA; home price and rent from Zillow; household income from US Census ACS. Rankings are across the 187 metros we hold wage data for in this occupation. Estimates for guidance only. See methodology.