These Are The 10 Highest Finance Analyst Salaries By State

Chris Kolmar
by Chris Kolmar
Best States For Professions, Rankings - 8 months ago
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Without fail, in surveys across basically every demographic, the number one most important aspect of a job for most people is the salary — how much do finance analysts get paid where I live?

And while there are many things to go into how much you, specifically, can expect to make, there’s really good data for average salaries for finance analysts by state across America broken down by seniority level. So while your city may be slightly different than the state average, these averages give you a rough sense of what to expect for your salary.

To better understand how salaries change across America, we decided to take a look the most recent data from the Bureau of Labor Statistics on average pay for finance analysts by state.

Additionally, we wanted to adjust the salary based on the cost of living in a state — because your salary goes further in North Carolina than it does in California.

The state with the best salary for finance analysts after this adjustment? That would be Financial Analysts.

Here’s a quick snapshot of the top ten states for salaries:

  1. Texas
  2. Illinois
  3. Missouri
  4. North Carolina
  5. Alabama
  6. Michigan
  7. Mississippi
  8. Louisiana
  9. Minnesota
  10. Montana

Let’s take a look at how we got here and a full ranking of all the states.

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

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How we determined pay by state

As we mentioned earlier, we took the average annual salary data for finance analysts from the 2016 Bureau of Labor Statistics — specifically their ‘Occupational Employment Statistics.’

To make the comparison of salaries apples to apples across states, we also took into account the cost of living in each state.

We then created an index by dividing the average wage for a state by the cost of living relative to average. As an example, the cost of living index in California is 135.9 and the average pay is $109650, so our index value would be:

$109,650 * (100 / 135.9) = $80,684

We then ranked every state on this criteria with the state with the highest salary index ranking as highest average salary for finance analysts.

Here’s a look at the full ranking for all states.

For more reading, check out:

Detailed List Of Finance Analyst Salaries By State

Rank State Adjusted Salary Average Wage Cost Of Living
1 Texas $102,447 $92,920 90.7
2 Illinois $101,849 $96,350 94.6
3 Missouri $101,482 $91,740 90.4
4 North Carolina $93,407 $87,710 93.9
5 Alabama $90,493 $82,530 91.2
6 Michigan $90,157 $80,240 89.0
7 Mississippi $89,720 $77,070 85.9
8 Louisiana $89,219 $84,580 94.8
9 Minnesota $87,450 $88,150 100.8
10 Montana $87,192 $87,890 100.8
11 Georgia $86,663 $79,210 91.4
12 Iowa $86,527 $78,740 91.0
13 Utah $85,473 $79,490 93.0
14 Delaware $84,349 $85,530 101.4
15 Tennessee $84,082 $75,170 89.4
16 Oklahoma $83,811 $74,760 89.2
17 Kansas $83,748 $75,290 89.9
18 Pennsylvania $83,708 $84,880 101.4
19 Indiana $83,273 $74,530 89.5
20 Ohio $83,219 $78,060 93.8
21 Kentucky $82,453 $74,620 90.5
22 New Jersey $82,387 $100,430 121.9
23 New Mexico $82,227 $79,350 96.5
24 Connecticut $82,129 $104,880 127.7
25 Idaho $80,694 $74,320 92.1
26 California $80,684 $109,650 135.9
27 Wisconsin $80,630 $78,050 96.8
28 Nebraska $80,152 $73,420 91.6
29 Arkansas $78,748 $68,590 87.1
30 Maryland $78,175 $98,110 125.5
31 Oregon $77,716 $89,840 115.6
32 Florida $77,507 $76,190 98.3
33 Washington $77,319 $81,340 105.2
34 Vermont $76,614 $92,780 121.1
35 Arizona $76,367 $74,840 98.0
36 North Dakota $75,543 $75,090 99.4
37 Alaska $74,843 $98,120 131.1
38 Massachusetts $72,488 $96,700 133.4
39 South Carolina $72,026 $71,450 99.2
40 West Virginia $70,299 $65,660 93.4
41 Maine $68,149 $75,510 110.8
42 South Dakota $67,820 $70,330 103.7
43 Nevada $65,847 $68,020 103.3
44 Rhode Island $64,399 $77,730 120.7
45 Hawaii $43,234 $72,590 167.9