Finding accurate data on finance salaries can be challenging for professionals in Georgia.
This article provides a detailed analysis of finance compensation in the Peach State, equipping you with insights on earning potential.
You'll discover current salary ranges for financial analysts, accountants, and VPs of finance in Georgia, along with factors impacting pay like industry, company size, and location.
Introduction to Finance Salaries in the Peach State
The finance job market in Georgia is thriving, offering competitive salaries across a range of roles. Major corporations continue to expand operations in the state, fueling growth in finance headcount and compensation.
Exploring the Peach State's Finance Sector
- Georgia has become a hub for financial services and Fortune 500 companies. Major employers like Home Depot, UPS, and Coca-Cola are headquartered in the state.
- In the past decade, financial services firms like BlackRock, JP Morgan, and Goldman Sachs have significantly grown their footprint in Atlanta.
- The film industry has also expanded finance jobs, with Georgia now ranking #3 for film/TV production. Companies like Netflix, Disney, Sony, and NBCUniversal have productions based in the state.
Analyzing Georgia's Competitive Finance Pay
- According to recent Bureau of Labor Statistics data, accountants and auditors in Georgia earn a mean annual wage of $77,800 compared to the national average of $73,560.
- Financial analysts in Georgia fare even better, averaging $93,230 versus the national mean of $88,590.
- Within major metro areas like Atlanta, salaries for finance professionals tend to exceed statewide averages by 5-15%.
- Many Georgia-based corporations also offer strong bonus and equity compensation packages atop competitive base pay.
Overall, the data shows that finance and accounting professionals in Georgia tend to earn salaries exceeding national averages. Major industry growth and corporate expansions continue to drive demand and compensation higher across financial roles.
What is a high salary in Georgia?
The average salary in Georgia is $71,166 per year, which works out to $5,930 per month. However, salaries can vary significantly depending on the specific job and industry.
Here is a breakdown of Georgia salaries by percentile:
- Top 25% (75th percentile): $84,000 per year or $7,000 per month
- Average (50th percentile): $71,166 per year or $5,930 per month
- Bottom 25% (25th percentile): $62,900 per year or $5,241 per month
As you can see, the top 25% of earners in Georgia make over $20,000 more than the bottom 25% of earners.
Some of the highest paying jobs in Georgia include:
- Physicians: $202,000 average salary
- Lawyers: $139,000 average salary
- Engineering Managers: $132,000 average salary
The Atlanta metropolitan area generally has the highest salaries in the state. Some of the highest paying companies in Atlanta include:
- Delta Air Lines: $81,000 average salary
- Home Depot: $69,000 average salary
- UPS: $65,000 average salary
In summary, a "high" salary in Georgia is generally considered to be over $84,000 per year or $7,000 per month. However, salaries can vary greatly depending on location, industry, job position and experience level. The Atlanta metro area offers some of the highest paying job opportunities in the state.
What is the average salary in the state of Georgia?
The average salary in Georgia is $43,979 per year or $21.14 per hour according to recent data. This puts Georgia roughly on par with the national average salary.
However, salaries can vary significantly depending on factors like:
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Industry - Some of the highest paying industries in Georgia include technology, finance, healthcare, and engineering. For example, the average salary for a software developer in Atlanta is over $100,000.
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Location - Salaries tend to be higher in major metropolitan areas like Atlanta compared to rural parts of the state. Atlanta salaries are on par with other large US cities.
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Experience level - Entry level positions in Georgia start around $35,100 per year. Most experienced workers make up to $123,550 per year in fields like healthcare and technology.
Some examples of common Georgia salaries:
- Financial Analyst: $68,910
- Accountant: $62,870
- Software Developer: $85,570
- Nurse: $66,640
So while the average salary in Georgia matches the national median, there is significant variation across industries, locations, and seniority levels. Major metropolitan areas offer wages comparable to other large US cities, while rural areas drag down the state average.
Breaking Down Finance Salaries in Georgia
Earnings of a Vice President of Finance in Georgia
According to salary data, the average base salary for a Vice President of Finance in Georgia is $230,000, with total compensation potentially reaching $300,000 including bonuses and equity incentives. This aligns closely with national benchmarks. As companies grow and take on more financing, the VP of Finance takes on greater responsibility and oversight of core functions like financial planning and analysis, accounting, treasury, tax, and internal controls. With greater complexity comes greater pay.
Compensation for Financial Analyst II and Beyond
The average base salary for a Financial Analyst II in Georgia starts at $65,000, progressing to $85,000 for a Senior Financial Analyst, and up to $120,000+ for a Finance Manager or Director. Bonuses can account for 10-20% of total comp. As analysts gain exposure to budgeting, forecasting, modeling, analytics, and reporting, their skills become more valuable in guiding executive decisions and planning. This leads to steady salary growth for top performers.
Senior Accountant Salary Trends in Georgia
A Senior Accountant in Georgia earns approximately $70,000 on average, while an Accounting Manager takes home $90,000+. Specializations like SEC reporting, technical accounting, and systems implementation also boost pay. As accountants handle greater transaction volumes, compliance complexity, and stakeholder presentations, their compensation increases accordingly through promotions. Many seek CPA licensure to further advance.
Understanding the Variables of Finance Pay in Georgia
Finance salaries in Georgia can vary significantly depending on industry, company size, credentials, experience level, and location. Here's a closer look at some of the key factors:
Industry Influence on Finance Salaries
The industry a finance professional works in can have a major impact on compensation in Georgia. Some of the highest paying sectors include:
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Technology: With a strong tech hub in Atlanta, salaries for finance roles tend to be competitive. The average base pay for a Finance Manager in tech is $115,000 in Georgia.
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Healthcare: As both a major employer and growth industry in the state, healthcare offers strong wages for financial talent. A Financial Analyst in healthcare earns an average of $73,000 annually.
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Financial Services: Atlanta's banking and financial services sector also pays finance professionals lucratively, with average base salaries of $90,000 for Senior Accountants.
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Manufacturing: With a long history of manufacturing in Georgia, finance salaries remain robust in this sector. The average Treasury Manager takes home $102,000 per year.
Other major industries like retail, construction, education, and hospitality tend to pay below the average for financial roles within the state.
The Effect of Company Size on Finance Pay
In addition to industry, the size of a company plays a pivotal role in compensation rates. Generally speaking, larger corporations have the resources to offer more competitive salaries.
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Finance professionals at startups and small businesses in Georgia make an average of $65,000 annually across roles. Limited funding and smaller finance teams keep budgets lower.
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Mid-sized companies boast average finance salaries around $80,000 per year. More established revenue streams enable bigger investments in talent.
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Enterprise corporations have the highest pay rates, with finance staff earning $102,000 on average. Global brands expanding in Atlanta and other Georgia metro areas pay top dollar for financial expertise.
While individual compensation can vary based on credentials, experience, and negotiations, company size and life cycle stage tend to correlate strongly with the pay ceiling for finance jobs across the Peach State. Understanding these variables can help financial professionals evaluate roles more accurately during their job search.
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Metro Area Comparisons of Finance Salaries in Georgia
This section showcases how salaries for financial professionals can vary significantly across different metro areas in Georgia. We'll examine compensation benchmarks in major cities like Atlanta, Augusta, Savannah, Columbus, and beyond.
Dissecting Atlanta's Finance Salary Landscape
As the largest metro area in Georgia and a major finance hub in the Southeast, Atlanta offers some of the highest salaries for financial roles in the state:
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The average base salary for a Vice President of Finance in Atlanta is $201,000 per year. With bonuses and equity compensation, total pay can reach $250,000-300,000.
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A mid-career Finance Manager in Atlanta earns approximately $120,000 base, with total compensation around $140,000 including bonuses.
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Entry-level financial analysts in Atlanta start around $65,000 base pay, with top performers reaching $90,000+ within 5 years.
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Senior Accountants in Atlanta earn average base salaries of $75,000. Specialized accountants can make $95,000+ in the city.
As a major corporate center with large banks and Fortune 500 company headquarters, Atlanta drives top dollar for in-demand finance talent. However, salaries are still 15-20% lower than leading markets like NYC and San Francisco.
Finance Pay in Savannah and Augusta
While still strong job markets, secondary metros like Savannah and Augusta offer lower finance pay compared to capital city Atlanta:
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A VP of Finance role in Savannah pays approximately $180,000 base, $60,000 less than Atlanta on average. Bonuses also tend to be smaller.
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Augusta finance salaries trend 5-15% below Savannah. A mid-level Financial Analyst role pays $15,000 less per year compared to Atlanta.
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Entry-level corporate finance roles in Augusta start around $55,000 base salary. Senior Accountants average $65,000 base pay.
The decreased cost of living and smaller corporate presence lead to lower, yet still competitive, finance pay in Georgia's secondary metro areas. Businesses can stretch their salary budgets further while professionals enjoy greater affordability.
Predicting the Future of Finance Salaries in the Peach State
Forecasting Job Salary Growth in Finance
The Bureau of Labor Statistics projects strong growth for financial roles in Georgia over the next 5 years. Financial analyst positions are expected to increase by over 15%, with over 2,000 new jobs created. Accounting roles are forecasted to grow by 10%, driven by continued business expansion across the state.
With major corporations like Mercedes-Benz, Porsche, and Amazon opening new facilities in Georgia, demand for financial talent will rise sharply. This talent shortage will place upward pressure on wages to attract top professionals.
Economic Developments Affecting Finance Pay
Several key factors point to rising finance salaries in Georgia:
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Business growth: Georgia offers tax incentives, affordable real estate, and business-friendly regulations that attract corporate investment. Major expansions from Mercedes-Benz, Porsche, Amazon Web Services, and others will drive finance hiring.
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Relocations: With a low cost of living and high quality of life, Georgia draws talent from across the country. This intensifies competition for financial professionals.
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Industry diversification: Georgia supports growing industries like fintech, biosciences, advanced manufacturing, and supply chain logistics. New industry growth spurs finance job creation.
With projected job growth well above the national average and intense competition for financial talent, salaries for accountants, analysts, and managers in Georgia are likely to rise steadily over the next 5 years.
Crafting Compensation & Benefits for Finance Roles
This section will guide employers on how to structure competitive compensation packages for finance professionals in Georgia, including base pay, bonuses, and benefits.
Developing a Job Description with Competitive Pay
When developing a job description for a finance role, it's important to clearly outline the responsibilities and required qualifications. This helps set appropriate expectations for candidates.
Be sure to indicate the pay range or salary offered. Checking industry salary surveys and sites like Glassdoor can help determine competitive compensation in your geographic area. For a Senior Accountant role in Georgia, a typical salary range may be $65,000 to $85,000.
Provide details like:
- Main job duties and level of experience required
- Education, certifications, and software/system knowledge needed
- Target annual base pay range
- Bonus or incentive structure
Setting an attractive, fair pay rate helps attract top talent to open finance positions.
Utilizing a Bonuses Calculator for Finance Positions
Offering incentive pay through bonuses and profit sharing helps motivate finance teams. Bonus amounts can be determined through an online bonuses calculator.
Factors like:
- Company revenue or profitability - Base bonus on hitting revenue or profit goals
- Individual performance - Pay bonuses based on finance employee's personal goals
- Tenure/seniority - Increase bonus % for long-term employees
For example, a Finance Manager with 5 years tenure may get a 5% personal performance bonus + 2% company revenue bonus.
Having clear bonus criteria helps finance staff understand what goals they need to achieve to maximize pay.
Ensuring Pay Equity in the Finance Department
It's important that compensation be equitable across finance roles. Pay unfairness can negatively impact engagement, retention and performance.
Actions to help promote fair pay:
- Regularly benchmark pay against industry and geographic averages
- Adjust salaries to match experience levels of employees
- Offer equal pay for equal work regardless of demographics
- Conduct periodic internal audits to identify and address pay gaps
This ensures the finance team is equitably compensated based on merit and contributions. Ultimately it helps build a culture of trust and value generation.
Following pay equity best practices leads to satisfied, productive finance departments that fully support business growth and success.
The Role of Peach State Financial Institutions in Finance Salaries
Peach State financial institutions like credit unions and health plans play an influential role in shaping finance salary trends across Georgia. As major employers within the finance sector, their compensation structures and hiring practices have a broader impact on pay standards in the local job market.
Peach State Federal Credit Union's Influence on Local Finance Pay
With over $2 billion in assets and around 300 employees, Peach State Federal Credit Union (PSFCU) is one of the largest credit unions operating in Georgia. As a leading financial services employer, PSFCU's approach to finance salaries influences wider pay expectations across the state.
Specific roles at PSFCU like Vice President of Finance and Controller likely earn salaries on par with Georgia's average pay for similar finance positions. According to salary data, Vice Presidents of Finance in Georgia have an average base pay of $192,000 annually. Controllers earn around $122,000 on average.
As a non-profit cooperative, PSFCU may structure some finance salaries and benefits differently than large for-profit banks. However, as a major finance employer, their compensation levels still shape candidate expectations about pay in Georgia.
Finance Compensation at Peach State Health Plan Inc
With over 550 employees in Georgia, publicly traded Centene's Peach State Health Plan subsidiary is a key employer for finance talent across the state.
Peach State Health Plan offers competitive pay to recruit skilled finance professionals. For example, a Financial Analyst II role has an average base salary of $77,000. More senior positions like Finance Manager and Treasury Manager likely earn over $100,000 annually.
As a growing organization in the healthcare payer industry, Peach State Health Plan's hiring activity puts upward pressure on finance wages as employers compete for talent. The company's pay structure and benefits package set benchmarks that other Georgia employers may need to match in order to attract top candidates.
So while specific salaries vary across industries, major institutions like Peach State Health Plan play an instrumental role in determining market-competitive compensation for finance professionals in the state. Their hiring practices influence wider expectations on finance pay in Georgia.
Conclusion: Synthesizing Insights on Finance Salaries in Georgia
In conclusion, this section will summarize the key takeaways on compensation trends for critical finance roles within Georgia companies. It will reiterate why Georgia represents an appealing destination for financial professionals from a wages perspective.
Recapitulating Georgia's Finance Salary Advantages
The data and examples provided earlier demonstrate that financial professionals in Georgia tend to earn salaries that meet or exceed national averages:
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According to Payscale, the average salary for a Financial Analyst in Georgia is $66,327, compared to the national average of $63,790.
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For Controller positions, Georgia's median pay stands at $102,714 vs $96,176 nationally based on recent Salary.com data.
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As noted in the examples, major firms like The Home Depot and UPS headquartered in Georgia tend to pay wages at the higher end of the range.
This confirms Georgia as a financially rewarding place for accounting and finance experts looking to maximize their earning potential.
Reaffirming the Growth Trajectory in Finance Jobs
The article also highlighted the strong job growth expected for critical finance roles within Georgia over the next 5 years:
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Financial Analyst jobs are projected to increase by 7.8% in Georgia through 2026 based on BLS data, faster than the 5.4% national growth rate.
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Accounting positions are forecast to rise 6.5% in the state, again surpassing the nationwide outlook.
This upward momentum underscores the increasing demand for financial acumen as more firms relocate to or expand within Georgia.
In summary, the combination of higher than average wages and steady job gains makes Georgia an economically vibrant locale for finance and accounting professionals to grow their careers. The state presents a compelling value proposition for those seeking to optimize their salaries within these critical domains.
