THE FIRST STATE COMES SECOND IN ANALYSIS OF HIGH-END FINANCIAL EMPLOYMENT
Delaware has been found to be a top destination for Financial Managers according to a country-wide analysis of state-level financial jobs by Accounting Principals.
States were ranked using their annual mean wage for entry, mid and high-level careers1. These wages were then adjusted by each state’s Cost of Living Index2 to accurately compare how competitive the salaries were.
Delaware ranked second in the nation for high-end career wages in the financial industry, beating out other states that received a boost thanks to its low Cost of Living Index. This shows that Delaware is one of the few states that accurately compensates it workers’ base salary to account for their cost of living.
While Texas beat out Delaware for adjusted salary, it should be noted that Delaware offers over twice as many high-end careers than Texas (4.9 jobs per thousand people, compared to Texas’ 2.2).
This analysis found:
For the full Accounting Principals Financial Industry Analysis, including tables and graphics, visit the full report here.
Accounting Principals is a Global 500 company and a leader in finance and accounting staffing services around the world.
1. The following positions were used as representative of entry level, mid-level and high-level jobs: Entry level – Bookkeeping, Accounting, and Auditing Clerks, Mid-Level – Accountants and Auditors, High-Level – Financial Managers. The annual mean wage for these positions was gathered for each state from the following positions to represent from the U.S Bureau of Labor Statistics.
2. Each state’s Cost of Living Index is gathered by The Council for Community and Economic Research and is calculated by considering the price of a representative sample of goods and services from specific industries including groceries, housing, utilities, transportation, health care, and other miscellaneous goods and services. The index granted to each state is a figure in comparison to the national average, which is represented as 100.
3. Percentage of employment growth was calculated using the number of employees labelled as working under ‘Financial Activities’ by the U.S Bureau of Labor Statistics. Figures used were published for April 2009 and April 2016.
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