Financial Analyst Salary in Michigan
Based on 7K+ workers in Michigan
Median Annual Salary (MI)
$95,420
$45.88/hr
vs National Average
$97,172
-1.8% vs national median
Salary Range (10th–90th)
$63K – $154K
7K employed in Michigan
Financial Analysts in Michigan earn a median salary of $95,420 per year, with approximately 7,400 professionals currently employed in the state. This figure falls 2% below the national average, reflecting Michigan's overall cost of living and regional economic conditions. The salary range spans from $63,180 to $154,230 annually, demonstrating significant variation based on individual circumstances and career progression.
Several factors influence Financial Analyst salary in Michigan, including experience level, educational credentials, and employer size. Professionals working in major financial centers or for larger corporations typically command higher compensation than those in smaller firms or rural areas. Industry specialization, certifications like CFA, and advanced technical skills also play important roles in determining earning potential within the state's financial sector.
Salary Distribution — Financial Analyst in Michigan
| Percentile | Annual Salary |
|---|---|
| 10th percentile | $63,180 |
| 25th percentile | $76,290 |
| Median (50th percentile) | $95,420 |
| 75th percentile | $121,580 |
| 90th percentile | $154,230 |
Top-Paying Industries for Financial Analyst (U.S.)
Which industries pay Financial Analysts the most — nationwide figures (industry-level data is not available by state). Financial Analysts in Michigan tend to follow these industry patterns.
| Industry (U.S.) | Median Salary | Employed (U.S.) |
|---|---|---|
| Mining, Quarrying, and Oil and Gas Extraction | $124,750 | 1K |
| Information | $118,090 | 12K |
| Finance and Insurance | $107,030 | 155K |
| Utilities | $106,720 | 2K |
| Real Estate and Rental and Leasing | $104,500 | 11K |
Source: U.S. BLS OEWS National Industry-Specific estimates, May 2025. National figures (not state-specific).
Historical Salary Trend — Financial Analyst in Michigan vs National
| Year | Median Salary (Michigan) |
|---|---|
| 2022 | $80,600 |
| 2023 | $83,920 |
| 2024 | $90,400 |
| 2025 | $95,420 |
| 2026 (projected) | $100,719 |
The latest year is a projection based on recent wage trends — BLS has not yet released that year’s data.
| Year | Michigan Median | National Median |
|---|---|---|
| 2022 | $80,600 | $85,095 |
| 2023 | $83,920 | $87,779 |
| 2024 | $90,400 | $94,263 |
| 2025 | $95,420 | $97,172 |
| 2026 (projected) | $100,719 | $102,568 |
Financial Analyst Salary by Experience Level in Michigan
| Experience Level | Years | Median Annual Salary |
|---|---|---|
| Junior | 0-2 yrs | $76,290 |
| Mid-level | 3-5 yrs | $95,420 |
| Senior | 6-9 yrs | $121,580 |
| Staff / Lead | 10+ yrs | $154,230 |
Financial Analyst Salary in Other States
Related Financial Analyst Salaries in Michigan
How other high-demand occupations in Michigan compare to Financial Analyst ($95,420 median).
| Occupation | Median Salary | vs Financial Analyst | Hourly |
|---|---|---|---|
| Financial Manager in MI | $139,370 | +46.1% | $67.00/hr |
| Economist in MI | $106,350 | +11.5% | $51.13/hr |
| Actuary in MI | $100,640 | +5.5% | $48.38/hr |
| Budget Analyst in MI | $96,430 | +1.1% | $46.36/hr |
| Accountant in MI | $78,820 | -17.4% | $37.89/hr |
| Personal Financial Advisor in MI | $77,930 | -18.3% | $37.47/hr |
| Compliance Officer in MI | $77,390 | -18.9% | $37.21/hr |
| Tax Examiner in MI | $75,040 | -21.4% | $36.08/hr |
| Credit Analyst in MI | $74,640 | -21.8% | $35.88/hr |
| Loan Officer in MI | $74,470 | -22.0% | $35.80/hr |
| Securities Sales Agent in MI | $73,480 | -23.0% | $35.33/hr |
| Financial Examiner in MI | $71,050 | -25.5% | $34.16/hr |
Frequently Asked Questions
How much do financial analysts make in Michigan?
- The median salary for financial analysts in Michigan is $95,420 per year, or $46 per hour. This is slightly below the national average by 1.8%, making Michigan a competitive market for this role.
What is the salary range for financial analysts in Michigan?
- Financial analyst salaries in Michigan range from $63,180 at the lower end to $154,230 at the higher end. This wide range reflects differences in experience, education, and specific job responsibilities.
How many financial analysts are employed in Michigan?
- There are approximately 7,400 financial analysts employed in Michigan. This represents a substantial job market for professionals in this field across the state.
Is the financial analyst salary in Michigan above or below the national average?
- Michigan's median financial analyst salary of $95,420 is 1.8% below the national average. However, this remains a solid earning potential for the role in the state's job market.