Find a Job You Really Want In
Finance Analysts are one of the most common jobs in America. Additionally, a significant number of people work as finance analysts in every state in the union — it’s not like they are all just concentrated in California or the South.
Since finance analysts are such a prominent occupation, we at Zippia wanted to look at where finance analysts have it the best: where there are plenty of jobs to go around and people get paid what they deserve during every phase of their career.
To that end, we dove into the numbers from the BLS to figure out which states have the best opportunities for finance analysts.
After all the numbers had been crunched, we were left with this list of the best of best for America’s finance analysts:
So there you have it — Financial Analysts is the best of the best when it comes to being a finance analyst.
How did Financial Analysts end up here and does it really deserve this ranking? Read on to see how we completed our research on the best states for finance analysts and for more on the top ten states.
If youâre interested, you can read more about the job scene here:
- 20 Best Companies To Work For In Houston
- These Are The 10 Best Small Companies To Work For In McKinney
- Top 11 Best Start-Ups to Work For in Austin, TX
How we determined the best states to be a finance analyst
Here at Zippia, we talk to a lot of people of all different backgrounds looking for jobs. Our research has concluded that there are two common things people want in a job:
- Availability of jobs
- Higher Pay
So in order to find out the best states for finance analysts in America we needed to figure out where the jobs are and how well finance analysts get paid. This led to the following criteria taken from the Bureau of Labor Statistics’s Occupational Employment Statistics for 2016:
- Location quotient. A measure of how common a job is a given state.
- Average annual salary.
- Average annual salary for entry level work.
- Average annual salary for experienced professionals.
To make all the salary numbers more apples to apples across states, we compared the salary data relative to the state’s cost of living.
Applying this standardization allows us to account for that fact that it costs more to live in certain in states. For example, the average salary for finance analysts in California is $109,650 and the average salary in Illinois is $96,350, but the Illinois salary actually goes further in paying for life’s essentials.
In order to develop and overall ranking, we ranked each state for each criteria from 1 to 50 where 1 was the best.
We then averaged all the rankings for a state into a Job Score with the state having the lowest overall Job Score earning the distinction of being the best state for finance analysts in America.
So without further ado, let’s get into just what made each state so great for finance analysts.
1. Texas
Total Jobs: 23,710
Average Annual Salary: $92,920
Average Entry Level Salary: $49,430
Average Experienced Salary: $155,850
Location Quotient: 1.01
2. Illinois
Total Jobs: 13,840
Average Annual Salary: $96,350
Average Entry Level Salary: $46,560
Average Experienced Salary: $160,360
Location Quotient: 1.17
3. North Carolina
Total Jobs: 7,720
Average Annual Salary: $87,710
Average Entry Level Salary: $49,710
Average Experienced Salary: $134,720
Location Quotient: 0.91
4. Delaware
Total Jobs: 3,570
Average Annual Salary: $85,530
Average Entry Level Salary: $50,210
Average Experienced Salary: $145,360
Location Quotient: 4.04
5. Missouri
Total Jobs: 3,730
Average Annual Salary: $91,740
Average Entry Level Salary: $46,020
Average Experienced Salary: $153,190
Location Quotient: 0.67
6. Minnesota
Total Jobs: 6,480
Average Annual Salary: $88,150
Average Entry Level Salary: $50,670
Average Experienced Salary: $136,900
Location Quotient: 1.15
7. Michigan
Total Jobs: 5,800
Average Annual Salary: $80,240
Average Entry Level Salary: $47,440
Average Experienced Salary: $119,320
Location Quotient: 0.69
8. Georgia
Total Jobs: 6,900
Average Annual Salary: $79,210
Average Entry Level Salary: $45,710
Average Experienced Salary: $118,280
Location Quotient: 0.82
9. Iowa
Total Jobs: 1,850
Average Annual Salary: $78,740
Average Entry Level Salary: $46,640
Average Experienced Salary: $117,710
Location Quotient: 0.6
10. Pennsylvania
Total Jobs: 10,830
Average Annual Salary: $84,880
Average Entry Level Salary: $46,900
Average Experienced Salary: $138,440
Location Quotient: 0.94
There You Have It – The Best States To Be A Finance Analyst
If you’re looking to start out your career as a finance analyst these are the states that should be at the top of your list. You’ll find high pay, available jobs, and chances for career advancement.
If you’re curious, here are the worst states to be a finance analyst in America:
For more reading, check out:
- These Are The 12 Best Financial Planning Certifications
- These Are The 100 Highest Paying Jobs In Austin
- These Are The 100 Highest Paying Jobs In Dallas
- These Are The 100 Highest Paying Jobs In Fort Worth
- These Are The 100 Highest Paying Jobs In Houston
- These Are The 100 Highest Paying Jobs In San Antonio
- These Are The 100 Highest Paying Jobs In Texas
- These Are The 100 Largest Companies In Texas
- These Are The 10 Highest Finance Analyst Salaries By State
Detailed List Of The Best States For finance analysts
| Rank | State | Average Salary |
|---|---|---|
| 1 | Texas | $92,920 |
| 2 | Illinois | $96,350 |
| 3 | North Carolina | $87,710 |
| 4 | Delaware | $85,530 |
| 5 | Missouri | $91,740 |
| 6 | Minnesota | $88,150 |
| 7 | Michigan | $80,240 |
| 8 | Georgia | $79,210 |
| 9 | Iowa | $78,740 |
| 10 | Pennsylvania | $84,880 |
| 11 | Connecticut | $104,880 |
| 12 | Utah | $79,490 |
| 13 | Ohio | $78,060 |
| 14 | Alabama | $82,530 |
| 15 | New Jersey | $100,430 |
| 16 | Tennessee | $75,170 |
| 17 | Oklahoma | $74,760 |
| 18 | Kansas | $75,290 |
| 19 | Indiana | $74,530 |
| 20 | Nebraska | $73,420 |
| 21 | Louisiana | $84,580 |
| 22 | Wisconsin | $78,050 |
| 23 | California | $109,650 |
| 24 | Mississippi | $77,070 |
| 25 | Arizona | $74,840 |
| 26 | Montana | $87,890 |
| 27 | New Mexico | $79,350 |
| 28 | Maryland | $98,110 |
| 29 | Kentucky | $74,620 |
| 30 | Idaho | $74,320 |
| 31 | Massachusetts | $96,700 |
| 32 | Arkansas | $68,590 |
| 33 | Florida | $76,190 |
| 34 | Oregon | $89,840 |
| 35 | Washington | $81,340 |
| 36 | Rhode Island | $77,730 |
| 37 | Maine | $75,510 |
| 38 | Alaska | $98,120 |
| 39 | North Dakota | $75,090 |
| 40 | South Dakota | $70,330 |
| 41 | South Carolina | $71,450 |
| 42 | West Virginia | $65,660 |
| 43 | Vermont | $92,780 |
| 44 | Nevada | $68,020 |
| 45 | Hawaii | $72,590 |
Author
Chris Kolmar is a co-founder of Zippia and the editor-in-chief of the Zippia career advice blog. He has hired over 50 people in his career, been hired five times, and wants to help you land your next job. His research has been featured on the New York Times, Thrillist, VOX, The Atlantic, and a host of local news. More recently, he's been quoted on USA Today, BusinessInsider, and CNBC.
