These Are The 10 Best States For Finance Analysts

Chris Kolmar
by Chris Kolmar
Best States For Professions, Rankings - 9 months ago
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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:

  1. Texas
  2. Illinois
  3. North Carolina
  4. Delaware
  5. Missouri
  6. Minnesota
  7. Michigan
  8. Georgia
  9. Iowa
  10. Pennsylvania

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 you’re interested, you can read more about the job scene here:

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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

Best States For Finance Analysts

Source: Wikipedia

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

Best States For Finance Analysts

Source: Wikipedia

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

Best States For Finance Analysts

Source: Wikipedia

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

Best States For Finance Analysts

Source: Wikipedia

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

Best States For Finance Analysts

Source: Wikipedia

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

Best States For Finance Analysts

Source: Wikipedia

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

Best States For Finance Analysts

Source: Wikipedia

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

Best States For Finance Analysts

Source: Wikipedia

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

Best States For Finance Analysts

Source: Wikipedia

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

Best States For Finance Analysts

Source: Wikipedia

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:

  1. Hawaii
  2. Nevada
  3. Vermont

For more reading, check out:

Detailed List Of The Best States For finance analysts

Rank State Average Salary Entry Level Salary # Of People
1 Texas $92,920 $49,430 23,710
2 Illinois $96,350 $46,560 13,840
3 North Carolina $87,710 $49,710 7,720
4 Delaware $85,530 $50,210 3,570
5 Missouri $91,740 $46,020 3,730
6 Minnesota $88,150 $50,670 6,480
7 Michigan $80,240 $47,440 5,800
8 Georgia $79,210 $45,710 6,900
9 Iowa $78,740 $46,640 1,850
10 Pennsylvania $84,880 $46,900 10,830
11 Connecticut $104,880 $55,420 6,040
12 Utah $79,490 $42,540 2,170
13 Ohio $78,060 $45,830 8,850
14 Alabama $82,530 $41,340 1,420
15 New Jersey $100,430 $55,360 7,960
16 Tennessee $75,170 $43,250 3,690
17 Oklahoma $74,760 $40,330 1,510
18 Kansas $75,290 $48,410 1,180
19 Indiana $74,530 $45,590 2,530
20 Nebraska $73,420 $45,760 2,050
21 Louisiana $84,580 $42,670 820
22 Wisconsin $78,050 $44,830 4,460
23 California $109,650 $56,530 34,100
24 Mississippi $77,070 $38,480 530
25 Arizona $74,840 $46,450 6,380
26 Montana $87,890 $46,930 160
27 New Mexico $79,350 $46,180 580
28 Maryland $98,110 $51,750 5,970
29 Kentucky $74,620 $43,600 1,300
30 Idaho $74,320 $47,850 420
31 Massachusetts $96,700 $55,760 13,700
32 Arkansas $68,590 $40,350 910
33 Florida $76,190 $44,300 10,990
34 Oregon $89,840 $51,920 2,380
35 Washington $81,340 $42,410 5,740
36 Rhode Island $77,730 $51,630 1,070
37 Maine $75,510 $52,810 420
38 Alaska $98,120 $52,220 350
39 North Dakota $75,090 $44,310 280
40 South Dakota $70,330 $44,780 500
41 South Carolina $71,450 $41,230 1,650
42 West Virginia $65,660 $41,020 370
43 Vermont $92,780 $45,440 170
44 Nevada $68,020 $41,740 770
45 Hawaii $72,590 $43,940 390