Financial Analyst Salary in 2026: National, by State, City, Specialty & Real Value
A financial analyst in the United States earns a median of $102,740 a year, about $49.40 an hour, according to the U.S. Bureau of Labor Statistics (2025). Pay runs from roughly $63,720 at the 10th percentile to $180,860 at the 90th, and it swings further once you account for state, metro, setting, specialty, cost of living, and tax. About 361,980 financial analysts work nationwide. This guide is the complete picture: national and percentile pay, all 50 states ranked by real (cost-adjusted) value, top metros, settings, specialties, take-home after tax, the path in, the return on the degree, and answers to the questions people ask most.
- National pay overview
- Pay by experience
- Salary by state: all 50 states ranked by real value
- Highest-paying metros
- Salary by work setting
- How it compares to related careers
- Skills, credentials, and what they mean for pay
- Specialties and where the pay is
- What moves the pay
- Salary, hourly, and total compensation
- Take-home pay after tax
- How to maximize earnings
- How pay is changing
- Job outlook
- How to become a financial analyst
- Is it worth it? The return on the degree
- Frequently asked questions
- State guides and tools
National pay overview
The national median for financial analysts is $102,740 a year ($49.39 an hour), with a mean of $116,800. The full wage curve, from entry to senior:
| Percentile | Annual | Hourly |
|---|---|---|
| 10th (entry) | $63,720 | $30.63 |
| 25th | $79,290 | $38.12 |
| 50th (median) | $102,740 | $49.40 |
| 75th | $133,340 | $64.11 |
| 90th (senior) | $180,860 | $86.95 |
The gap from the 10th to the 90th percentile is about $117,140. A single national number hides that range, which is why the rest of this guide breaks pay down by every factor that moves it, and then translates the headline into cost-adjusted, after-tax dollars.
The mean of $116,800 sits above the median, which tells you the top of the field pulls the average up: a meaningful share of financial analysts earn well into the upper percentiles through specialty, setting, geography, and seniority. The practical question is what you can earn given where you work, what you specialize in, and how you structure your hours, which matters far more than the field-wide average. Each section below answers one piece of that.
Pay by experience
BLS does not publish pay by years of experience, but the percentiles map closely to a career arc:
| Stage | Typical percentile | Annual |
|---|---|---|
| New graduate | 10th to 25th | $63,720 to $79,290 |
| Mid-career | ~50th | around $102,740 |
| Experienced | ~75th | around $133,340 |
| Senior / specialized / lead | 90th+ | $180,860 and up |
The climb from new graduate to senior is roughly $117,140. Early raises tend to come fastest as you move off new-grad pay; by mid-career the curve flattens, and the people who keep climbing usually do so by specializing, switching to a higher-paying setting or state, taking on lead and management duties, or adding hours through overtime and extra work. Geography and setting can outweigh experience entirely: an experienced financial analyst in a low-paying state can earn less than a new graduate in a top-paying one.
Salary by state: all 50 states ranked by real value
This is the table most financial analyst salary pages leave out. Below are every state and Washington, D.C., ranked by real value (the median adjusted for that state’s cost of living (BEA Regional Price Parities, 2024)) rather than by sticker pay. A high-paying state with high costs can leave you worse off than a moderate-paying, low-cost one. Tap a linked state for the full local breakdown.
| # | State | Median (nominal) | Cost level (US=100) | Real value | Employed |
|---|---|---|---|---|---|
| 1 | Wyoming | $187,090 | 92.7 | $201,843 | 190 |
| 2 | New York | $127,930 | 107.9 | $118,540 | 52,380 |
| 3 | Oregon | $120,590 | 103.4 | $116,669 | 2,820 |
| 4 | South Dakota | $99,150 | 88.6 | $111,925 | 820 |
| 5 | North Carolina | $102,390 | 94.3 | $108,549 | 12,710 |
| 6 | Missouri | $98,420 | 90.8 | $108,372 | 4,430 |
| 7 | Connecticut | $109,500 | 103.6 | $105,685 | n/a |
| 8 | Idaho | $100,830 | 95.5 | $105,588 | 680 |
| 9 | Iowa | $92,370 | 87.8 | $105,251 | 2,000 |
| 10 | Massachusetts | $111,040 | 105.8 | $104,995 | 14,790 |
| 11 | Montana | $99,190 | 94.6 | $104,802 | 440 |
| 12 | Minnesota | $102,990 | 98.6 | $104,430 | 7,450 |
| 13 | Virginia | $105,490 | 101.1 | $104,338 | 10,410 |
| 14 | Georgia | $99,420 | 96.3 | $103,247 | 9,780 |
| 15 | Alabama | $91,290 | 88.8 | $102,777 | 3,410 |
| 16 | Texas | $99,150 | 97.1 | $102,156 | 28,820 |
| 17 | Delaware | $101,800 | 99.8 | $101,996 | 2,290 |
| 18 | Ohio | $94,280 | 92.8 | $101,623 | 9,760 |
| 19 | Wisconsin | $95,570 | 94.1 | $101,568 | 5,430 |
| 20 | Illinois | $101,180 | 100.0 | $101,223 | 20,520 |
| 21 | Tennessee | $92,990 | 91.9 | $101,219 | 4,910 |
| 22 | Vermont | $99,090 | 98.0 | $101,156 | 230 |
| 23 | Colorado | $103,850 | 103.1 | $100,774 | 8,040 |
| 24 | Washington | $107,210 | 107.0 | $100,184 | 8,820 |
| 25 | South Carolina | $93,670 | 93.7 | $99,916 | 3,600 |
| 26 | Alaska | $102,240 | 102.4 | $99,884 | 190 |
| 27 | New Jersey | $108,610 | 108.8 | $99,821 | 10,380 |
| 28 | Michigan | $95,420 | 96.2 | $99,172 | 7,400 |
| 29 | California | $109,110 | 110.7 | $98,546 | 45,380 |
| 30 | Rhode Island | $100,550 | 102.3 | $98,309 | 1,790 |
| 31 | District of Columbia | $105,780 | 109.9 | $96,250 | 3,670 |
| 32 | Maryland | $100,370 | 105.0 | $95,628 | 5,360 |
| 33 | New Mexico | $87,630 | 92.2 | $95,031 | 930 |
| 34 | Nebraska | $85,320 | 90.1 | $94,692 | n/a |
| 35 | Kansas | $84,860 | 90.1 | $94,218 | 1,870 |
| 36 | Arkansas | $81,110 | 86.9 | $93,297 | 1,390 |
| 37 | Arizona | $93,540 | 100.7 | $92,911 | 5,940 |
| 38 | Utah | $91,370 | 98.9 | $92,420 | 4,510 |
| 39 | Mississippi | $79,580 | 87.0 | $91,521 | 720 |
| 40 | Florida | $94,490 | 103.4 | $91,371 | 23,900 |
| 41 | Maine | $88,320 | 97.0 | $91,005 | 710 |
| 42 | Oklahoma | $79,640 | 87.8 | $90,662 | 1,550 |
| 43 | Kentucky | $81,660 | 90.2 | $90,573 | 2,460 |
| 44 | North Dakota | $78,170 | 89.0 | $87,872 | 300 |
| 45 | Indiana | $81,760 | 93.3 | $87,604 | 3,680 |
| 46 | Pennsylvania | $84,460 | 97.6 | $86,562 | 13,310 |
| 47 | Hawaii | $94,640 | 110.0 | $86,075 | 600 |
| 48 | Louisiana | $75,680 | 88.2 | $85,798 | 1,450 |
| 49 | Nevada | $83,430 | 100.0 | $83,448 | 1,830 |
| 50 | New Hampshire | $82,520 | 104.2 | $79,220 | 580 |
| 51 | West Virginia | $69,030 | 89.5 | $77,131 | 400 |
On real, cost-adjusted value, Wyoming leads at $201,843, while West Virginia trails at $77,131. By raw sticker pay the order is different: Wyoming ($187,090), New York ($127,930), and Oregon ($120,590) pay the most nominally, but several of them slide down the list once high housing and prices are counted. That reordering is the single most useful thing this page does, and it is why national averages and sticker rankings can steer you wrong.
Concrete example of the flip: California ranks #6 by sticker pay ($109,110) but only #29 once its cost level of 111 is applied, because high prices eat the higher salary. Meanwhile Iowa looks middling on sticker (#34) yet climbs to #9 on real value, since a 92,370-dollar median goes much further at a cost level of 88. If you are willing to relocate, the real-value column, not the sticker column, is the one that should guide the decision.
The geographic pattern: the highest sticker pay clusters on the West Coast and in the Northeast, while the best real value often shows up in lower-cost states in the South, Midwest, and Mountain West where a strong salary meets cheap housing. There is no single best state, only the best fit for where you want to live and what your money will buy there.
Highest-paying metros
Within states, metros drive pay further. The largest financial analyst job markets by employment, with median pay:
| Metro | Median | Employed |
|---|---|---|
| New York-Newark-Jersey City, NY | $128,930 | 53,870 |
| Los Angeles-Long Beach-Anaheim, CA | $102,260 | 19,600 |
| Chicago-Naperville-Elgin, IL | $101,750 | 17,150 |
| Boston-Cambridge-Newton, MA | $117,520 | 13,010 |
| Dallas-Fort Worth-Arlington, TX | $100,350 | 11,530 |
| Washington-Arlington-Alexandria, DC | $108,330 | 10,930 |
| Philadelphia-Camden-Wilmington, PA | $95,400 | 10,050 |
| San Francisco-Oakland-Fremont, CA | $130,520 | 9,910 |
| Atlanta-Sandy Springs-Roswell, GA | $100,830 | 7,740 |
| Charlotte-Concord-Gastonia, NC | $106,510 | 6,790 |
The same cost-of-living rule applies inside a state: a higher-paying big metro can lose to a cheaper mid-size city once housing is counted. Big metros also hold the deepest job markets, so they pair the most pay with the most openings, while rural and smaller markets sometimes pay premiums to attract candidates. The state pages work the metro and cost math out city by city.
Salary by work setting
Where financial analysts work changes pay as much as geography. National medians by employer type:
| Setting | Employed (U.S.) | Median |
|---|---|---|
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities | 89,390 | $124,370 |
| Management of Companies and Enterprises | 44,850 | $101,760 |
| Credit Intermediation and Related Activities (5221 and 5223 only) | 34,660 | $100,700 |
| Management, Scientific, and Technical Consulting Services | 23,080 | $97,190 |
| Insurance Carriers | 13,170 | $98,420 |
| Real Estate | 11,000 | $105,720 |
| Computer Systems Design and Related Services | 10,930 | $121,630 |
The gap between the highest- and lowest-paying settings is real money over a career, and it usually comes with trade-offs in pace, caseload, autonomy, and schedule rather than in difficulty alone. The largest employer is not always the best payer, so it is worth weighing where the volume of jobs is against where the pay is when you choose a setting.
How it compares to related careers
It helps to see a financial analyst beside the roles people weigh against it, with pay set next to the education each requires:
| Role | National median | Education |
|---|---|---|
| Accountant | $83,680 | Bachelor’s (CPA for top) |
| Financial Analyst (this role) | $102,740 | Bachelor’s (CFA/MBA) |
| Financial Manager | $166,570 | Bachelor’s + experience |
| Chief Executive | $213,990 | Bachelor’s + experience |
Against accountant at $83,680, this role pays about $19,060 more for the added schooling. The higher-paid financial manager ($166,570) sits $63,830 above, but on a longer or different training path. The right comparison is always pay set against the time, cost, and debt of the credential, not pay alone.
Skills, credentials, and what they mean for pay
There is no single license to be a financial analyst; what gates pay is skills, the credential (the CFA above all, sometimes an MBA), and especially the segment you work in. Corporate FP&A and commercial-banking analysts earn solid salaries, while investment banking, private equity, and equity research pay far more, largely through bonuses. Strong modeling, valuation, and Excel skills, plus the segment and employer, drive the differences.
Licensing is not just a hurdle, it shapes pay. Where a role can practice more independently or bill for more services, it tends to command more, and license portability between states affects how easily you can chase a higher-paying market. Always confirm the current rules with the relevant state board, since scope and requirements change and vary widely.
Specialties and where the pay is
The pay gap by segment is enormous. Investment banking, private equity, hedge funds, and equity research can pay multiples of a corporate FP&A salary, mostly through large bonuses, while corporate, government, and nonprofit analysts earn steadier, lower pay. The CFA and progression to senior analyst, portfolio manager, or finance leadership raise the ceiling sharply.
The practical takeaway: within financial analysts, specialty and setting usually move pay more than another year of general experience. The top earners are rarely just the most tenured, they are the ones in the higher-paying focus areas, settings, or leadership and ownership roles.
If you are early in the field, the decisions with the biggest long-run payoff are which specialty to pursue and which setting to enter, because both compound over a career and are easier to choose early than to switch later. A credential that takes a year to earn can pay for itself many times over through higher pay and more job options, which is the same logic the ROI section applies to the degree itself.
What moves the pay
- State and metro, and crucially the cost of living that goes with them, which the real-value table reorders.
- Experience, which lifts pay steadily and then plateaus without a specialty or a step up.
- Work setting and employer, since some settings and employers pay well above others, as the settings table shows.
- Specialty and board certification, a clear premium in most of these fields.
- Hours and structure, since overtime, extra shifts, and contract or travel work can push total pay well above base.
Salary, hourly, and total compensation
The $102,740 median is base pay, and real total compensation often runs higher. Analyst pay is salary plus bonus, and the bonus is the story. In corporate FP&A the bonus is modest, but in investment banking, private equity, and asset management the bonus can match or exceed base, so total compensation in those segments runs far above the BLS median, which captures base wages. Segment, not just title, determines pay. When comparing offers, weigh the whole package, base, any bonus or equity, overtime or premiums where they apply, retirement match, and paid time off, since two offers with the same base can differ by thousands once the rest is counted.
Take-home pay after tax
Two financial analysts on the same $102,740 salary keep very different amounts depending on the state. Worked examples on the national median, single filer, 2026 federal plus FICA plus state:
| State | Gross | Est. take-home | Effective rate |
|---|---|---|---|
| Texas (no state income tax) | $102,740 | $80,664 | 21.5% |
| New York | $102,740 | $75,547 | 26.5% |
| California | $102,740 | $75,082 | 26.9% |
That is roughly $5,582 a year more in take-home in no-tax Texas than in California on an identical salary, before cost of living is even counted. Nine states levy no income tax.
Take-home also scales with where you sit on the pay curve. In Texas, an entry-level financial analyst earning $79,290 nets about $64,167, while a senior one at $180,860 keeps about $134,666, since higher pay pushes more income into higher federal brackets. The effective rate climbs with income, so a raise is worth somewhat less on take-home than on the headline. Every state page includes a full breakdown and a paycheck calculator to run your own number.
How to maximize earnings
- Target a high-real-value state or metro using the table above, not the highest sticker.
- Move into the higher-paying setting and specialty for your field.
- Add board certification or a specialty credential, which pays a clear premium.
- Use overtime, contract, or travel work to lift total pay, and negotiate the full package.
- Consider leadership or ownership for the higher ceiling.
How pay is changing
Wages for financial analysts have broadly risen with demand and inflation, but the real story is in the mix: pay grows fastest where labor is scarce and where the role takes on more responsibility. Watch three things if you are planning a career here, the spread between settings (which keeps widening as specialized and higher-skill roles pull ahead), the value of cost-of-living arbitrage (a strong salary in a cheap state has rarely been worth more relative to expensive coastal markets), and the premium on specialty credentials. The figures on this page are the May 2025 BLS estimates, the most recent national data, and the state pages carry the same detail locally.
Job outlook
Overall employment of financial and investment analysts is projected to grow about 6% from 2024 to 2034, faster than the average for all occupations, with roughly 29,900 openings a year, according to the U.S. Bureau of Labor Statistics. Demand tracks overall economic activity and investment, as analysts are needed to evaluate opportunities as businesses are formed and expand and as new markets open.
For context, the average growth rate across all U.S. occupations through 2034 is about 3%. A large share of yearly openings also comes from replacing workers who retire or move on, so real hiring tends to run ahead of the net-growth figure, and shortage and rural areas often pay the most to attract candidates.
How to become a financial analyst
Financial analysis is a bachelor’s-level finance path where segment and the CFA drive pay:
- Earn a bachelor’s in finance, economics, accounting, or a quantitative field.
- Build modeling and valuation skills (Excel, financial statements, DCF) and a strong analytical record.
- Pursue the CFA (or an MBA for some paths) to accelerate pay and prospects.
- Target a high-paying segment such as investment banking, private equity, or asset management, where bonuses drive total pay.
Is it worth it? The return on the degree
A bachelor’s plus the CFA delivers a strong return against a median near $102,740, with a far higher ceiling in investment banking, private equity, and asset management once bonuses are counted. The investment is mostly the CFA and breaking into a high-paying segment, rather than an expensive additional degree, though an MBA helps for some paths. Weigh program cost, your starting state and setting, and the specialties you can reach against the debt. The pay tables above, set next to the education column in the comparison section, are the honest way to run that math before committing.
Two levers change the answer most: the price of the program you choose, since cost varies enormously between public and private schools, and the state and setting you start in, since the same degree pays very differently across the by-state and settings tables above. A graduate who controls program cost and starts in a high-real-value state can clear the debt years faster than one who does neither, on the identical credential.
Frequently asked questions
How much does a financial analyst make?
The U.S. median is $102,740 a year, about $49.40 an hour (BLS, 2025), ranging from roughly $63,720 at the 10th percentile to $180,860 at the 90th.
What is the highest-paying state for financial analysts?
By sticker pay, Wyoming ($187,090) leads. But adjusted for cost of living, Wyoming delivers the most real value ($201,843). The full ranking is in the by-state table.
Do financial analysts make six figures?
Yes, the national median itself is above $100,000, and most financial analysts in higher-paying states and settings clear six figures comfortably.
What is the entry-level salary for financial analysts?
New graduates typically start around the 10th to 25th percentile, roughly $63,720 to $79,290, rising with experience, setting, and specialty.
Where do financial analysts earn the most after cost of living?
On real value, Wyoming, New York, and Oregon top the list. High-sticker states often fall once their housing and prices are counted.
Can financial analysts increase pay with overtime or extra work?
Yes. At $49.40 an hour, overtime at time-and-a-half is about $74.10, and contract or travel roles pay higher hourly rates in exchange for fewer benefits, so total pay can run well above the salary median.
Do these roles pay more in states with no income tax?
On take-home, yes. On the median salary, a single filer keeps about $5,582 more a year in no-tax Texas than in California, before cost of living.
What education do you need to become a financial analyst?
A bachelor’s in finance, economics, accounting, or a quantitative field is typical, and there is no required license. The CFA is the most valued credential, and an MBA helps for some senior and investment-banking paths.
Is financial analyst a good career?
For most, yes, and for some, very much so. At a median near $102,740, corporate analyst roles pay well with reasonable hours, while investment banking, private equity, and asset management pay far more through bonuses, at the cost of long hours. The CFA and the right segment are what move pay from solid to exceptional.
What setting pays financial analysts the most?
Nationally, securities, commodity contracts, and other financial investments and related activities and the higher-paying employer types in the settings table tend to lead, while others pay somewhat less. Specialty and setting matter as much as the employer category.
How long does it take to become a financial analyst?
About four years for a bachelor’s to enter. The CFA adds several years of exams and experience, and an MBA (if pursued) one to two years; reaching senior and portfolio-manager levels takes additional years.
What is the highest a financial analyst can earn?
The top 10% earn above $180,860, and the ceiling climbs higher with leadership, ownership, specialty certification, and high-cost metros, plus overtime, contract, and travel pay layered on top of base.
Is the financial analyst field oversaturated?
Overall employment of financial and investment analysts is projected to grow about 6% from 2024 to 2034, faster than the average for all occupations, with roughly 29,900 openings a year, according to the U. Demand varies by region and setting, and rural and shortage areas often compete hardest on pay, so saturation is local rather than national.
Do financial analysts get paid salary or hourly?
Salaried plus bonus, and the bonus is the key variable. In corporate roles it is modest; in investment banking, private equity, and asset management it can match or exceed base, pushing total comp well above the median.
Can financial analysts work part-time or flexibly?
These are predominantly full-time roles, and the high-paying segments (investment banking, private equity) are known for long hours. Some corporate and freelance analysis and consulting work is more flexible, but part-time is uncommon.
What earns more than a financial analyst?
Financial Manager, at a national median of $166,570, about $63,830 more, though on a longer or different training path.
How much do these roles vary by state?
A lot. State medians span more than $118,060, and after cost of living and state tax the real ranking shifts again. That is what the by-state and take-home sections are for.
State guides and tools
Sources: U.S. Bureau of Labor Statistics, OEWS May 2025 and Occupational Outlook Handbook (SOC 13-2051 and related codes); national, state, and metro estimates. U.S. Bureau of Economic Analysis, Regional Price Parities, 2024. Take-home figures are 2026 estimates (federal, FICA, and state) for a single filer and will vary with deductions and filing status. See our methodology.