Average Financial and Investment Analysts Salary in Detroit-Warren-Dearborn, MI
Financial and Investment Analysts in Detroit-Warren-Dearborn, MI, earn an average annual salary of $106,490. This figure is slightly below the national average of $117,950, indicating a localized compensation structure influenced by regional economic factors and industry demand within the metropolitan area.
Executive Summary
- Average Salary: $106,490 per year.
- Growth Trend: Salaries have shifted 23.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $137,950.
- Outlook: The Detroit-Warren-Dearborn, MI, area supports a robust workforce of 4,660 Financial and Investment Analysts. With a Location Quotient of 1.1, the concentration of these professionals is slightly higher than the national average, suggesting a stable and potentially growing demand for their specialized skills within the region's financial sector.
Salary Overview
The average Financial and Investment Analysts in Detroit-Warren-Dearborn, MI earns-9.7%below the national average.
$51.2
$2,048
$8,874
Financial and Investment Analysts Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that the salaries for Financial and Investment Analysts in Detroit-Warren-Dearborn, MI, have experienced steady growth over the past four years, mirroring national trends of increasing compensation driven by inflation, evolving market demands, and the increasing complexity of financial analysis.
Financial and Investment Analysts Salary Distribution in Detroit-Warren-Dearborn, MI
The career trajectory for Financial and Investment Analysts typically involves significant salary increases with experience. Entry-level positions may start at a lower percentile, while seasoned professionals with specialized expertise and a proven track record can command salaries well into the higher percentiles, reflecting a clear path for career progression and earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $63,340 | $30.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $79,868 | $38.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $98,180 | $47.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $133,113 | $64 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $137,950 | $66.3 |
Detailed Financial and Investment Analysts Market Analysis
Relocation Context
Nominal Salary
$106,490
Gross Pay
Real Wage (Purchasing Power)
$106,490
Adjusted for COL (100)
With an average annual salary of $106,490 and a Cost of Living Index of 100, Financial and Investment Analysts in Detroit-Warren-Dearborn, MI, find their nominal earnings align precisely with the national average cost of living. This means their purchasing power is comparable to that of analysts in other regions considered to have an average cost of living.
Job Market Context
4,660
Total Jobs
2.439
Per 1K Jobs
1.1
Location Quotient
With a location quotient of 1.10, Detroit-Warren-Dearborn, MI has a slightly higher-than-average concentration of Financial and Investment Analysts roles compared to the national norm.
The Location Quotient of 1.1 for Financial and Investment Analysts in Detroit-Warren-Dearborn, MI, indicates a slightly higher concentration of these roles compared to the national average. This suggests a healthy, albeit not overwhelmingly saturated, job market where demand is consistent with the supply of talent, offering a competitive yet accessible environment for professionals.
Nearby Job Markets
Nearby Cities for Financial and Investment Analysts
| City | Salary | Dist. |
|---|---|---|
| Monroe, MI Financial and Investment Analysts Salary | $100,700↓ 5% | 34 mi |
| Ann Arbor, MI Financial and Investment Analysts Salary | $105,870↓ 1% | 35 mi |
| Toledo, OH Financial and Investment Analysts Salary | $116,350↑ 9% | 54 mi |
| Flint, MI Financial and Investment Analysts Salary | $83,320↓ 22% | 58 mi |
Comparing salaries near Detroit-Warren-Dearborn, MI
Hiring Financial and Investment Analystss?
Frequently Asked Questions
How much does a Financial and Investment Analysts make in Detroit-Warren-Dearborn, MI?
The median annual salary for a Financial and Investment Analysts in Detroit-Warren-Dearborn, MI is $106,490. This typically ranges from $63,340 for entry-level positions to $137,950 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Detroit-Warren-Dearborn, MI is 9.7% lower than the national median of $117,950.
Is Detroit-Warren-Dearborn, MI a lucrative place for Financial and Investment Analysts?
Yes, with caveats.While the average salary of $106,490 is below the national average, the neutral cost of living and a slightly above-average concentration of roles suggest a stable and potentially rewarding career environment.
Is Detroit-Warren-Dearborn, MI a good place to live for Financial and Investment Analysts?
The Cost of Living Index in Detroit-Warren-Dearborn, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Detroit-Warren-Dearborn, MI?
Some top paying nearby cities include Monroe, MI ($100,700) and Ann Arbor, MI.
How does the Detroit Financial Analyst salary compare to the national average?
The average annual salary for Financial and Investment Analysts in Detroit-Warren-Dearborn, MI, is $106,490, which is approximately 10% lower than the national average of $117,950.
What is the Cost of Living in Detroit-Warren-Dearborn, MI for analysts?
The Cost of Living Index in Detroit-Warren-Dearborn, MI, is 100, which is exactly the national average, meaning the cost of goods and services is neither significantly higher nor lower than the typical US city.
How concentrated are Financial and Investment Analyst jobs in Detroit?
The concentration of Financial and Investment Analyst jobs in Detroit-Warren-Dearborn, MI, is indicated by a Location Quotient of 1.1, meaning there are slightly more of these jobs relative to the overall workforce compared to the national average.
What does the job market look like for Financial and Investment Analysts in Detroit?
With 2.439 jobs per 1,000 workers and a total local workforce of 4,660, the market is substantial and shows a slightly higher concentration than the national average, indicating steady demand.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 4,660 employees in the Detroit-Warren-Dearborn, MI area with a job density of 2.439 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 Detroit-Warren-Dearborn, MI