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Financial analysts make much less here than nationally

Rochester Business Journal
July 3, 2014

The average pay for financial analysts in the Rochester market is well below the national average, while salaries for accountants are in line with the national mean, data released this week show.

The Rochester region employs 1,050 financial analysts, second to New York City among the state’s 12 metropolitan areas. Its 5,350 accountants and auditors also ranks second.

Its 5,820 clerks in bookkeeping, accounting and auditing ranks third behind New York City and the Buffalo-Niagara Falls metro area.

Financial analysts in the Rochester area earn an average of $76,110, compared with the national average of $91,620, data compiled by the U.S. Department of Labor’s Bureau of Labor Statistics show.

Mean annual wages for accountants and auditors in the local market is $72,910, slightly higher than the national mean of $72,500, the data released Tuesday shows. The local average for clerks in bookkeeping, accounting and auditing is $36,890, compared with $37,250 nationally.

Financial analysts in New York’s 12 metropolitan areas have a combined average pay of $120,060, the data shows. Accountants and auditors in the areas have a combined average wage of $87,260. Clerks combine for an average of $40,850.

The New York City area has the highest salaries in all three categories. Financial analysts in the city and in suburbs on Long Island and northern New Jersey average $119,050 annually, accountants and auditors average $90,680 and clerks average $43,330.

Financial analysts in the Buffalo/Niagara Falls market average $73,990, second-lowest among New York’s 12 metropolitan areas behind Utica-Rome at $64,770. Accountants and auditors average $67,140. Clerks average $35,950.

Financial analysts in the Syracuse market average $79,810. Accountants and auditors average $70,160. Clerks average $36,220.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


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