Financial analysts in Michigan earn between $63,180 at the 10th percentile and $154,230 at the 90th percentile. The middle of the market runs from $76,290 at the 25th percentile to $121,580 at the 75th percentile, which is the range most relevant for budgeting a typical hire. Use the seniority and specialization of your open role to determine where within that band your offer should land.
Financial analyst salary in Michigan (2026)
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The average financial analyst salary in Michigan is $104,060 per year. A small pool of very high earners pulls that average upward, so the median of $95,420 gives employers a more reliable starting point for most hiring decisions. Michigan employs 7,400 financial analysts, and the $8,640 gap between the mean and median reflects real variation in the candidate pool you will be evaluating. Junior financial analysts in Michigan typically earn around $63,180, while senior specialists reach and exceed the $154,230 level at the 90th percentile. Plan for a range rather than a single number when budgeting for a financial analyst hire in Michigan, and anchor that range to the seniority and specialization of the role you are filling.
Metric / Value
Metric | Value |
Median Annual Salary | $95,420 |
Average Annual Salary | $104,060 |
vs. National Average | 10.9% below the national mean of $116,800 |
Data comes from the BLS OEWS and covers 7,400 employed financial analysts across Michigan.
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Financial analyst salary percentiles in Michigan
Percentile | Annual Salary |
10th Percentile | $63,180 |
25th Percentile | $76,290 |
75th Percentile | $121,580 |
90th Percentile | $154,230 |
Employers setting an offer for a financial analyst in Michigan should expect a wide range depending on seniority, with entry-level roles clustering near $63,180 and experienced specialists reaching $154,230 or beyond. The spread from the 25th to the 75th percentile alone spans $45,290, so role scope and years of experience should drive where within that band you anchor your offer.
Financial analyst salary by city in Michigan
City | Average Annual Salary |
Detroit | $106,690 |
Grand Rapids | $102,950 |
Ann Arbor | $102,060 |
Lansing | $94,210 |
Flint | $90,440 |
Where you hire within Michigan will meaningfully affect your compensation budget for a financial analyst role. Detroit commands the highest average at $106,690, while Flint sits at $90,440, a difference of $16,250 that can shift your annual payroll cost noticeably if you have flexibility on location. Employers hiring in Lansing or Flint can set competitive offers below the statewide mean without sacrificing market alignment.
How Michigan compares to other states
State | Average Annual Salary | Median Annual Salary |
Michigan | $104,060 | $95,420 |
Illinois | $110,820 | $101,180 |
Minnesota | $108,280 | $102,990 |
Wisconsin | $102,500 | $95,570 |
Ohio | $100,560 | $94,280 |
Indiana | $89,080 | $81,760 |
Michigan sits in the middle of the Midwest peer group, making it a cost-effective market relative to Illinois and Minnesota but more expensive than Indiana. Employers in Michigan pay a mean of $104,060 compared to $110,820 in Illinois and $89,080 in Indiana, so the state offers a reasonable balance for organizations competing for talent without the premium of larger financial hubs. Wisconsin and Ohio track closely to Michigan, meaning compensation expectations are broadly similar across those three states.
Frequently asked questions about financial analyst salary in Michigan
What is the salary range for a financial analyst in Michigan?
What is the average financial analyst salary in Michigan?
The average financial analyst salary in Michigan is $104,060 per year. The median sits lower at $95,420, which reflects that a segment of higher-compensated roles pulls the mean upward. For most hiring decisions, the median is the more grounded benchmark to use when setting an initial offer.
What do the top-earning financial analysts make in Michigan?
Financial analysts at the 90th percentile in Michigan earn $154,230 per year. Roles at this level typically involve senior-level responsibilities, specialized expertise, or leadership scope that commands a premium above the broader market. Budget accordingly if you are competing for candidates with deep specialization or significant experience.
How does Michigan compare to other states for financial analyst salary?
Michigan's mean financial analyst salary of $104,060 falls 10.9% below the national mean of $116,800. Among Midwest peers, Michigan trails Illinois at $110,820 and Minnesota at $108,280, but sits above Ohio at $100,560 and Indiana at $89,080. Employers in Michigan can attract qualified candidates without paying the premium required in larger financial markets, though they should expect candidates with experience in Illinois or Minnesota to negotiate toward the higher end of the range.
Financial Analyst salary by state
Data sourced from the U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), 2025, SOC code 13-2051 (Financial and Investment Analysts).
Disclaimer
Rippling and its affiliates do not provide tax, accounting, or legal advice. This material has been prepared for informational purposes only, and is not intended to provide or be relied on for tax, accounting, or legal advice. You should consult your own tax, accounting, and legal advisors before engaging in any related activities or transactions.
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