Average Financial and Investment Analysts Salary in Albany-Schenectady-Troy, NY
In Albany-Schenectady-Troy, NY, Financial and Investment Analysts earn an average annual salary of $102,360. This figure is notably below the national average of $117,950, suggesting a localized compensation structure influenced by regional economic factors and demand. While the nominal pay is lower, understanding the cost of living is crucial for a complete picture.
Executive Summary
- Average Salary: $102,360 per year.
- Growth Trend: Salaries have shifted 16.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $165,990.
- Outlook: The Albany-Schenectady-Troy metropolitan area supports a local workforce of 1,060 Financial and Investment Analysts. With a Location Quotient of 1.08, this indicates a slightly higher concentration of these roles compared to the national average, suggesting a stable, albeit not rapidly expanding, demand for financial expertise within the region.
Salary Overview
The average Financial and Investment Analysts in Albany-Schenectady-Troy, NY earns-13.2%below the national average.
$49.2
$1,968
$8,530
Financial and Investment Analysts Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that salaries for Financial and Investment Analysts in regions like Albany-Schenectady-Troy have experienced steady growth over the past four years, mirroring national trends. This growth is typically driven by inflation, increasing demand for financial services, and the evolving complexity of financial markets.
Financial and Investment Analysts Salary Distribution in Albany-Schenectady-Troy, NY
Career progression for Financial and Investment Analysts in Albany-Schenectady-Troy, as elsewhere, is strongly tied to experience. Entry-level positions typically command salaries at the lower end of the spectrum, while seasoned professionals with specialized skills and a proven track record can expect to earn significantly more, often reaching the upper percentiles of the salary range. These percentile gaps highlight the substantial earning potential as one advances in their career.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $57,760 | $27.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $76,770 | $36.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $84,490 | $40.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $127,950 | $61.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $165,990 | $79.8 |
Detailed Financial and Investment Analysts Market Analysis
Relocation Context
Nominal Salary
$102,360
Gross Pay
Real Wage (Purchasing Power)
$102,360
Adjusted for COL (100)
The average annual salary of $102,360 for Financial and Investment Analysts in Albany-Schenectady-Troy aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of this salary is equivalent to the national average, indicating that while the nominal salary is lower than the national average, the cost of goods and services locally does not present a disadvantage.
Job Market Context
1,060
Total Jobs
2.387
Per 1K Jobs
1.08
Location Quotient
With a location quotient of 1.08, Albany-Schenectady-Troy, NY has a slightly higher-than-average concentration of Financial and Investment Analysts roles compared to the national norm.
A Location Quotient of 1.08 for Financial and Investment Analysts in Albany-Schenectady-Troy signifies a healthy presence of these professionals, slightly exceeding the national average concentration. This suggests a competitive yet accessible job market where opportunities exist, but employers may not face an overwhelming surplus of candidates, allowing for a balanced negotiation environment.
Nearby Job Markets
Nearby Cities for Financial and Investment Analysts
| City | Salary | Dist. |
|---|---|---|
| Pittsfield, MA Financial and Investment Analysts Salary | $130,110↑ 27% | 31 mi |
| Glens Falls, NY Financial and Investment Analysts Salary | $86,890↓ 15% | 45 mi |
| Kingston, NY Financial and Investment Analysts Salary | $112,780↑ 10% | 52 mi |
| Southwest New York nonmetropolitan area Financial and Investment Analysts Salary | $94,490↓ 8% | 68 mi |
| Central East New York nonmetropolitan area Financial and Investment Analysts Salary | $89,630↓ 12% | 68 mi |
Comparing salaries near Albany-Schenectady-Troy, NY
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Frequently Asked Questions
How much does a Financial and Investment Analysts make in Albany-Schenectady-Troy, NY?
The median annual salary for a Financial and Investment Analysts in Albany-Schenectady-Troy, NY is $102,360. This typically ranges from $57,760 for entry-level positions to $165,990 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Albany-Schenectady-Troy, NY is 13.2% lower than the national median of $117,950.
Is Albany-Schenectady-Troy, NY a lucrative place for Financial and Investment Analysts?
No, not exceptionally lucrative compared to the national average.While the average salary of $102,360 is substantial, it falls below the national average of $117,950. However, the equivalent cost of living means the purchasing power is on par with the national average.
Is Albany-Schenectady-Troy, NY a good place to live for Financial and Investment Analysts?
The Cost of Living Index in Albany-Schenectady-Troy, NY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Albany-Schenectady-Troy, NY?
Some top paying nearby cities include Pittsfield, MA ($130,110) and Glens Falls, NY.
How does the Albany-Schenectady-Troy salary compare to the national average?
The average salary for Financial and Investment Analysts in Albany-Schenectady-Troy is $102,360, which is lower than the national average of $117,950.
What is the concentration of Financial and Investment Analysts in this region?
The region has a Location Quotient of 1.08, indicating a slightly higher concentration of these professionals than the national average.
How does the cost of living affect the salary in Albany-Schenectady-Troy?
The cost of living index is 100, which is the national average. This means the $102,360 salary has the same purchasing power as the national average salary.
What is the total number of Financial and Investment Analysts in the Albany-Schenectady-Troy area?
There are approximately 1,060 Financial and Investment Analysts working in the Albany-Schenectady-Troy metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,060 employees in the Albany-Schenectady-Troy, NY area with a job density of 2.387 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Financial and Investment Analysts • Data source: BLS OEWS 2024 •Jobs in Albany-Schenectady-Troy, NY