Financial Associate Average Salary in District of Columbia 2024
How much money does a person working as Financial Associate make in District of Columbia?
LOW
22,100
USD AVERAGE
48,000
USD HIGH
76,300
USD
A person working as Financial Associate in District of Columbia typically earns around 48,000 USD. Salaries range from 22,100 USD (lowest) to 76,300 USD (highest).
Salary Variance
This is the average salary including housing, transport, and other benefits. Financial Associate salaries in District of Columbia vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Financial Associate Pay Scale and Salaries in District of Columbia
Salary Structure and Pay Scale Comparison
45,500 USD or more
39,900 to 45,500 USD
27,500 USD or less
27,500 to 39,900 USD
 22,100 USD |
45,900 USD |
76,300 USD |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
Salaries for the position Financial Associate in District of Columbia range from 22,100 USD (starting salary) to 76,300 USD (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.
Median Salary
With a median salary of 45,900 USD, half of the professionals who work as Financial Associate in District of Columbia earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.
Percentiles and Salary Scale
The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Financial Associate in District of Columbia earn less than 37,000 USD, while 75% earn more. Similarly, the chart shows that 75% earn less than 52,900 USD while 25% earn more.
Pay Scale Structure
To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Financial Associate in District of Columbia compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 27,500 USD to 39,900 USD. About 20% of salaries are below the 27,500 USD mark, while 10% fall within the range of 39,900 USD to 45,500 USD. Only 5% of individuals have salaries exceeding 45,500 USD.
Salary Comparison by Years of Experience / Financial Associate / District of Columbia
How do experience and age affect pay?
| 0 - 2 Years | 25,100 USD | |
| 2 - 5 Years | +33% | 33,500 USD |
| 5 - 10 Years | +48% | 49,500 USD |
| 10 - 15 Years | +22% | 60,300 USD |
| 15 - 20 Years | +9% | 65,800 USD |
| 20+ Years | +8% | 71,200 USD |
The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Financial Associate and this is what we found.
Employees with less than two years of experience earn approximately 25,100 USD.
While someone with an experience level between two and five years is expected to earn 33,500 USD, 33% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 49,500 USD, 48% more than someone with two to five years of experience.
Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 60,300 USD, 22% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 65,800 USD, 9% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 71,200 USD, 8% more than people with fifteen to twenty years of experience.
Typical Salary Progress for Most Careers
Salary Comparison By Education / Financial Associate / District of Columbia
How do education levels affect salaries?
Displayed below is the average salary variance between different education levels of professionals working as Financial Associate.
| High School | 30,800 USD | |
| Certificate or Diploma | +18% | 36,200 USD |
| Bachelor's Degree | +45% | 52,500 USD |
| Master's Degree | +31% | 68,700 USD |
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down salaries by education level for the position Financial Associate in order to make a comparison.
Level 1: High School
Employees at this education level have an average salary of 30,800 USD.
Level 2: Certificate or Diploma
At this level, the average salary becomes 36,200 USD, 18% more than the previous level.
Level 3: Bachelor's Degree
At this level, the average salary becomes 52,500 USD, 45% more than the previous level.
Level 4: Master's Degree
At this level, the average salary becomes 68,700 USD, 31% more than the previous level.
Is a Master's degree or an MBA worth it? Should you pursue higher education?
A Master's degree program or any post-graduate program in United States costs anywhere from 39,600 USD to 119,000 USD and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Typical Salary Difference by Education for Most Careers
Salary and Compensation Comparison By Gender / Financial Associate / District of Columbia
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Financial Associate in United States, the average difference between the salary of male and female employees is 6%.
| Male | 57,100 USD | |
| Female | -6% | 53,700 USD |
Salary Comparison By Gender in United States for all Careers
Average Annual Salary Increment Percentage / Financial Associate / District of Columbia
How much are annual salary increments in District of Columbia for individuals working as Financial Associate? How often do employees get salary raises?
Individuals working as Financial Associate in United States are likely to observe a salary increase of approximately % every months. The national average annual increment for all professions combined is 8% granted to employees every 16 months.
United States / All Professions
The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
How to calculate the salary increment percentage?
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency
Worldwide Salary Raises: All Countries and All Jobs
Salary Packages and Schemes
Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.
Bonus and Incentive Rates / Financial Associate / United States
How much and how often are bonuses being awarded?
Share This Chart Tweet Get Chart Linkhttp://www.salaryexplorer.com/charts/united-states/accounting-and-finance/financial-associate/annual-salary-bonus-rate-united-states-financial-associate.jpg
100% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while % said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from % to % of their annual salary.
| Received Bonus | % | |
| No Bonus | 100% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.
Goal-Based BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese types of bonuses are given without a reason and usually resemble an appreciation token.
Bonuses Are Not Commissions!
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
What makes a position worthy of good bonuses and a high salary?
The main two types of jobs | |
| Revenue Generators | Supporting Cast |
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business. | Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations. |
Example: | Example: |
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Bonus Comparison by Seniority Level
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
Average Hourly Wage / Financial Associate / District of Columbia
23 USD per hourThe average hourly wage (pay per hour) for individuals working as Financial Associate in District of Columbia is 23 USD.This is the rate they get paid for every worked hour.
About The Hourly Pay Rate
The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
What is the minimum hourly rate of pay?
The minimum pay rate per hour for people working as Financial Associate in District of Columbia is 11 USD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Salary comparison with similar jobs
| Job Title | Average Salary |
| Accounting and Finance |  -100% | |
| Account Examiner | 43,100 USD | -10% |
| Account Executive | 75,800 USD |  +58% |
| Accountant | 59,600 USD | +24% |
| Accounting Analyst | 73,300 USD | +53% |
| Accounting Assistant | 45,500 USD | -5% |
| Accounting Associate | 44,100 USD | -8% |
| Accounting Clerk | 36,900 USD | -23% |
| Accounting Coordinator | 51,700 USD | +8% |
| Accounting Head | 120,000 USD | +150% |
| Accounting Manager | 133,000 USD | +180% |
| Accounting Officer | 43,100 USD | -10% |
| Accounting Specialist | 85,000 USD | +77% |
| Accounting Supervisor | 80,000 USD | +67% |
| Accounting Technician | 42,800 USD | -11% |
| Accounting Unit Controller | 97,300 USD | +100% |
| Accounts Executive | 75,800 USD | +58% |
| Accounts Officer | 48,000 USD | -0% |
| Accounts Payable and Receivable Specialist | 62,200 USD | +30% |
| Accounts Payable Assistant | 49,200 USD | +2% |
| Accounts Payable Associate | 54,300 USD | +13% |
| Accounts Payable Clerk | 45,400 USD | -5% |
| Accounts Payable Manager | 118,000 USD | +150% |
| Accounts Receivable Administrator | 87,200 USD | +82% |
| Accounts Receivable Clerk | 43,100 USD | -10% |
| Accounts Receivable Financial Analyst | 83,400 USD | +74% |
| Accounts Receivable Manager | 122,000 USD | +150% |
| Accounts Receivable Team Leader | 89,400 USD | +86% |
| Algorithmic Trading Specialist | 108,000 USD | +120% |
| Assistant Accountant | 47,800 USD | -0% |
| Assistant Accounting Manager | 114,000 USD | +140% |
| Assistant Auditor | 60,900 USD | +27% |
| Assistant Corporate Controller | 80,900 USD | +68% |
| Assistant Finance Manager | 124,000 USD | +160% |
| Assistant Financial Controller | 82,900 USD | +73% |
| Audit Director | 136,000 USD | +180% |
| Audit Supervisor | 111,000 USD | +130% |
| Auditing Clerk | 48,000 USD | -0% |
| Auditing Manager | 127,000 USD | +160% |
| Billing Clerk | 45,500 USD | -5% |
| Billing Coordinator | 52,900 USD | +10% |
| Billing Specialist | 66,400 USD | +38% |
| Billing Supervisor | 95,600 USD | +99% |
| Bookkeeper | 40,200 USD | -16% |
| Bookkeeping Specialist | 58,300 USD | +21% |
| Budget Analyst | 102,000 USD | +110% |
| Budget Manager | 119,000 USD | +150% |
| Business Support Analyst | 68,700 USD | +43% |
| Capital Markets Associate | 92,000 USD | +92% |
| Cash Flow Analyst | 94,300 USD | +96% |
| Cash Management Manager | 121,000 USD | +150% |
| Cash Management Officer | 68,200 USD | +42% |
| Cashbook Clerk | 39,400 USD | -18% |
| Chartered Accountant | 73,900 USD | +54% |
| Chief Accountant | 90,700 USD | +89% |
| Chief Financial Technology Officer | 127,000 USD | +160% |
| Collections Clerk | 35,700 USD | -26% |
| Collections Representative | 54,500 USD | +14% |
| Collections Specialist | 63,800 USD | +33% |
| Corporate Controller | 94,800 USD | +97% |
| Corporate Treasurer | 120,000 USD | +150% |
| Cost Accountant | 58,500 USD | +22% |
| Cost Accounting Manager | 121,000 USD | +150% |
| Cost Accounting Supervisor | 96,000 USD | +100% |
| Cost Analyst | 94,800 USD | +97% |
| Credit and Collection Manager | 116,000 USD | +140% |
| Credit and Collection Staff | 44,300 USD | -8% |
| Credit and Loans Officer | 41,900 USD | -13% |
| Credit Controller | 82,100 USD | +71% |
| Credit Manager | 130,000 USD | +170% |
| Debt Adviser | 101,000 USD | +110% |
| Debt Collector | 48,000 USD | -0% |
| Debtors Clerk | 41,100 USD | -14% |
| Debtors Controller | 43,100 USD | -10% |
| Deputy CFO | 167,000 USD | +250% |
| Deputy Head of Finance | 159,000 USD | +230% |
| Derivative Trader | 99,700 USD | +110% |
| Director of Finance | 185,000 USD | +290% |
| E-commerce Accountant | 63,500 USD | +32% |
| Economist | 139,000 USD | +190% |
| Equity Analyst | 103,000 USD | +110% |
| Escrow Assistant | 54,400 USD | +13% |
| Executive Accountant | 65,300 USD | +36% |
| External Auditor | 83,400 USD | +74% |
| Finance Administrator | 67,700 USD | +41% |
| Finance Analyst | 113,000 USD | +140% |
| Finance Associate | 54,500 USD | +14% |
| Finance Data Analyst | 98,500 USD | +110% |
| Finance Director | 180,000 USD | +270% |
| Finance Executive | 126,000 USD | +160% |
| Finance Licensing Clerk | 44,100 USD | -8% |
| Finance Licensing Manager | 114,000 USD | +140% |
| Finance Licensing Specialist | 62,800 USD | +31% |
| Finance Manager | 167,000 USD | +250% |
| Finance Officer | 56,900 USD | +19% |
| Finance President | 185,000 USD | +290% |
| Finance Relationship Manager | 145,000 USD | +200% |
| Finance Release Analyst | 70,000 USD | +46% |
| Finance Specialist | 96,000 USD | +100% |
| Finance Team Leader | 129,000 USD | +170% |
| Financial Accountant | 57,900 USD | +21% |
| Financial Actuary | 88,600 USD | +85% |
| Financial Administrator | 98,600 USD | +110% |
| Financial Advisor | 114,000 USD | +140% |
| Financial Analyst | 113,000 USD | +140% |
| Financial Applications Specialist | 78,400 USD | +63% |
| Financial Assistant | 49,200 USD | +2% |
| Financial Associate | 48,000 USD | -0% |
| Financial Claims Analyst | 84,300 USD | +76% |
| Financial Claims Manager | 109,000 USD | +130% |
| Financial Claims Supervisor | 98,600 USD | +110% |
| Financial Clerk | 45,500 USD | -5% |
| Financial Commercial Analyst | 88,100 USD | +83% |
| Financial Compliance Analyst | 98,500 USD | +110% |
| Financial Compliance Officer | 94,100 USD | +96% |
| Financial Consultant | 77,600 USD | +62% |
| Financial Controller | 94,800 USD | +97% |
| Financial Coordinator | 54,600 USD | +14% |
| Financial Customer Service Manager | 111,000 USD | +130% |
| Financial Data Scientist | 108,000 USD | +120% |
| Financial Dealer and Broker | 62,800 USD | +31% |
| Financial Director | 180,000 USD | +270% |
| Financial Encoder | 49,200 USD | +2% |
| Financial Manager | 163,000 USD | +240% |
| Financial Modelling Analyst | 112,000 USD | +130% |
| Financial Operations Manager | 148,000 USD | +210% |
| Financial Policy Analyst | 97,000 USD | +100% |
| Financial Project Manager | 126,000 USD | +160% |
| Financial Quantitative Analyst | 99,700 USD | +110% |
| Financial Reporting Consultant | 88,100 USD | +83% |
| Financial Reporting Manager | 120,000 USD | +150% |
| Financial Section Head | 111,000 USD | +130% |
| Financial Services Manager | 148,000 USD | +210% |
| Financial Services Sales Agent | 67,400 USD | +40% |
| Financial Technology Consultant | 95,900 USD | +100% |
| Financial Wellness Coach | 122,000 USD | +150% |
| FinTech Analyst | 99,700 USD | +110% |
| Fixed Assets Administrator | 60,300 USD | +26% |
| Forensic Accountant | 73,100 USD | +52% |
| Fraud Detection Supervisor | 73,300 USD | +53% |
| Fraud Prevention Manager | 118,000 USD | +150% |
| Fund Accountant | 59,800 USD | +25% |
| Grants Coordinator | 45,400 USD | -5% |
| Green Finance Analyst | 90,300 USD | +88% |
| Group Financial Manager | 179,000 USD | +270% |
| Internal Auditor | 77,600 USD | +62% |
| Internal Control Adviser | 93,500 USD | +95% |
| Internal Control Officer | 50,500 USD | +5% |
| International Tax Director | 140,000 USD | +190% |
| Inventory Accountant | 61,900 USD | +29% |
| Investment Advisor | 163,000 USD | +240% |
| Investment Analyst | 118,000 USD | +150% |
| Investment Associate | 97,300 USD | +100% |
| Investment Broker | 97,300 USD | +100% |
| Investment Fund Manager | 139,000 USD | +190% |
| Investment Operations Manager | 139,000 USD | +190% |
| Investment Underwriter | 51,800 USD | +8% |
| Investor | 81,000 USD | +69% |
| Investor Relations Manager | 123,000 USD | +160% |
| KYC Team Leader | 115,000 USD | +140% |
| Loan Processor | 48,000 USD | -0% |
| Management Accountant | 64,600 USD | +35% |
| Management Economist | 143,000 USD | +200% |
| Paymaster | 49,200 USD | +2% |
| Payroll Administrator | 82,400 USD | +72% |
| Payroll Benefits Coordinator | 69,100 USD | +44% |
| Payroll Billing Manager | 111,000 USD | +130% |
| Payroll Clerk | 53,100 USD | +11% |
| Payroll Manager | 109,000 USD | +130% |
| Payroll Officer | 51,800 USD | +8% |
| Payroll Specialist | 60,300 USD | +26% |
| Payroll Supervisor | 73,900 USD | +54% |
| Pensions Administrator | 64,800 USD | +35% |
| Personal Financial Advisor | 90,700 USD | +89% |
| Pricing Analyst | 98,600 USD | +110% |
| Private Equity Analyst | 111,000 USD | +130% |
| Project Accountant | 63,200 USD | +32% |
| Proposal Development Coordinator | 54,400 USD | +13% |
| Quantitative Trader | 83,100 USD | +73% |
| Receivables Accountant | 56,400 USD | +17% |
| Regulatory Accountant | 68,400 USD | +42% |
| Retirement Plan Analyst | 94,800 USD | +97% |
| Revenue Management Specialist | 96,000 USD | +100% |
| Revenue Recognition Analyst | 110,000 USD | +130% |
| Risk Management Director | 139,000 USD | +190% |
| Risk Management Supervisor | 124,000 USD | +160% |
| Staff Accountant | 55,400 USD | +15% |
| Tax Accountant | 59,100 USD | +23% |
| Tax Administrator | 64,400 USD | +34% |
| Tax Advisor | 88,600 USD | +85% |
| Tax Analyst | 95,600 USD | +99% |
| Tax Associate | 51,800 USD | +8% |
| Tax Consultant | 97,200 USD | +100% |
| Tax Director | 138,000 USD | +190% |
| Tax Examiner | 61,600 USD | +28% |
| Tax Manager | 124,000 USD | +160% |
| Tax Research Manager | 121,000 USD | +150% |
| Teller | 34,500 USD | -28% |
| Treasury Accountant | 63,700 USD | +33% |
| Treasury Analyst | 104,000 USD | +120% |
| Underwriter | 42,800 USD | -11% |
| Underwriting Assistant | 39,200 USD | -18% |
| Vice President of Finance | 163,000 USD | +240% |
Government vs Private Sector Salary Comparison
Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in United States is 5% on average across all career fields.
| Private Sector | 92,800 USD | |
| Public Sector | +5% | 97,500 USD |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary for the job title Financial Associate in District of Columbia?
A good and competitive compensation would range anywhere between 45,900 USD and 52,900 USD. This is a very rough estimate. Experience and education play a very huge part in the final earnings.
Gross Salary (before tax) and Net Salary (after tax)
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.
Base / Basic Salary
The base salary for a careers like Financial Associate in District of Columbia ranges from 22,100 USD to 37,000 USD. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.
What is the difference between the median and the average salary?
Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
