Finding accurate salary data for finance roles in Montana can be challenging.
This article provides a detailed analysis of compensation levels across various finance positions in Montana, incorporating insights on career growth and salary forecasting to support compensation planning.
We examine entry-level to senior finance salaries, specialized roles, top paying companies, cost of living impacts, pay equity trends, popular benefits/perks, financial analysis software utilization, and business valuation techniques - synthesizing a comprehensive overview of Montana's finance salary landscape.
Navigating Finance Salaries and Financial Forecasting in Montana
Overview of Montana's Financial Services Landscape
Montana's financial services sector is growing, with increased demand for financial analysts, accountants, and other finance professionals. Major employers include banks, investment firms, insurance companies, and accounting firms located in cities like Billings, Missoula, and Bozeman.
However, Montana's cost of living is lower than the national average, which impacts finance salaries. Understanding compensation norms can help both employers and employees make informed decisions during recruitment and salary negotiations.
The Importance of Compensation Planning in Montana's Finance Sector
With finance talent in high demand, compensation planning enables organizations to attract and retain top professionals. Benchmarking against industry salary standards allows companies to offer competitive wage and benefit packages.
Meanwhile, researching typical Montana finance salaries empowers professionals to advocate for fair and equitable pay. Resources like the Bureau of Labor Statistics provide localized salary data across occupations.
Keeping pace with market rates for financial analysts, accountants, and related roles ensures sustainable growth for Montana's finance community.
Objectives of the Big Sky Financial Forecast
This article provides an up-to-date overview of typical finance salaries in Montana across various roles, experience levels, and industries. It analyzes how factors like location, firm size, and credentials impact pay.
Additionally, it explores trends in bonus pay, benefits offerings, and remote work flexibility. Understanding these components of total compensation enables both finance employers and professionals to make strategic decisions.
With clear benchmarks and projections, Montana's finance community can continue thriving while upholding strong pay equity standards. Robust compensation planning allows firms to attract top talent even amidst national shortages of financial experts.
What is a good salary in Montana?
The average salary in Montana is $56,009 per year, or $1,077 per week, according to recent data. This places Montana on the lower end of average salaries compared to other states. However, there is still good earning potential in the state.
Here is a breakdown of common salary percentiles in Montana:
- Top earners (75th percentile) - $87,714 per year or $1,686 per week
- Above average (50th percentile) - $70,474 per year or $1,355 per week
- Lower earners (25th percentile) - $41,544 per year or $798 per week
Salaries can vary significantly depending on factors like:
- Industry - Sectors like finance, technology, and healthcare tend to pay higher than tourism or retail.
- Location - Urban areas like Billings and Missoula have more high paying jobs than rural parts of the state.
- Experience level - More experienced professionals tend to earn higher salaries.
While Montana salaries may seem low compared to coastal states, the lower cost of living helps make up for it. With no state income tax and affordable housing, residents get to keep more of their hard-earned money.
Specific jobs like finance associates, financial analysts, and accountants can earn well above the state average, especially with some years of experience. These corporate and business roles often pay over $70,000 per year.
So while Montana is not the highest paying state, good salaries can be found with the right education, experience, and field of work. The natural beauty and friendly communities make the lower pay worthwhile for many residents.
Which company pays highest to Financial Analyst?
According to the provided context, some of the top companies for financial analysts in India based on salary are:
- Amazon.com - Pays up to ₹11,87,310 per year
- JPMorgan Chase & Co. - Pays up to ₹9,34,464 per year
- J.P. Morgan - Pays up to ₹9,25,647 per year
- UBS - Pays up to ₹7,94,776 per year
- Honeywell - Pays up to ₹7,13,643 per year
Of these companies, Amazon appears to offer the highest salaries for financial analysts in India.
When evaluating compensation packages, it's also important to consider additional benefits beyond base salary, such as annual bonuses, stock options, retirement contributions, and healthcare coverage. The specific compensation structure can vary significantly between companies.
Those interested in pursuing financial analyst roles in India may want to focus their search on firms known to pay higher salaries, such as Amazon, JPMorgan, and UBS. However, cultural fit, growth opportunities, and work-life balance are also key factors to weigh when choosing where to apply. Conducting thorough research on a company's compensation philosophy and structure can help job seekers make the most informed decisions for their career.
What wage is shown for Financial Analysts?
Financial analysts in Montana earn competitive salaries, with pay increasing commensurate with experience.
According to the provided data:
- Financial analysts with less than 1 year of experience earn around $78,792 per year on average. This serves as a good starting wage.
- With 1-2 years under their belt, financial analysts make approximately $81,240 annually. This reflects a modest pay bump.
- Those with 3-5 years of experience see a more significant jump up to $90,047 per year. This midpoint in one's career sees compensation increasing notably.
- Financial analysts with 6-9 years of professional experience earn median pay of $97,808. This indicates that as financial analysts become more seasoned, their skills and contributions garner higher salaries.
In summary, as financial analysts gain expertise and develop specializations, their wages tend to rise steadily. The provided numbers give a snapshot of average compensation growth over key career milestones. New entrants can expect competitive starting salaries, with their earnings rising over time as they accrue valuable on-the-job experience and skills.
What is the salary growth in finance?
The finance industry in Montana has seen steady salary growth in recent years. According to industry surveys, the average salary increase for finance professionals was 4.4% between 2021 and 2022. This is higher than the national average of 3.4% for the same period.
Some key insights on Montana finance salary growth:
- Line-level staff received the highest average raise at 4.5% in 2022. This includes positions like financial analysts, accountants, and associates.
- Leadership and executive roles saw slightly lower growth between 3-4%.
- Prior to 2021, average raises for finance roles were under 4%. The recent uptick indicates stronger compensation growth.
- Specific sectors like investment banking, private equity, and venture capital have seen above-average pay increases.
Driving factors behind the salary growth include:
- Strong economic performance and business growth in the state.
- Increased demand for financial services and advisory positions.
- Shortage of experienced finance talent. Companies are paying more to attract and retain professionals.
- Rising inflation and cost of living requiring higher wages.
- Competitive pressures as employers match offers to retain existing staff.
The positive momentum in finance compensation is expected to continue with salaries projected to grow above 5% annually over the next few years in Montana.
Montana's Finance Salaries Overview
Finance salaries in Montana offer competitive compensation, especially when considering the state's relatively low cost of living. While pay equity issues exist industry-wide, Montana's finance sector boasts strong salary growth and attractive benefits.
Finance Salaries and Cost of Living in Montana
Montana's cost of living sits nearly 10% below the national average, allowing finance salaries to stretch further. Housing costs rank among the most affordable nationally, with median home prices around $250,000 in cities like Missoula and Billings. This increased purchasing power helps offset Montana's below-average wages.
Entry-level financial analyst salaries range from $45,000 to $60,000, while senior analysts earn $75,000+ on average. Accounting salaries see similar ranges, e.g. entry-level accountants earning ~$48,000. Bonuses and profit-sharing may add 10-20% to total compensation.
While still below national figures, Montana's finance salaries have grown steadily in recent years. Continued economic and population growth should further this trend.
Pay Equity and Finance Compensation Trends
Nationwide, female financial professionals earn ~80 cents for every dollar paid to men. Montana mirrors this pay gap, though state and federal regulations aim to improve parity. Firms now face stiffer fines for unfair compensation practices.
Remote work has expanded finance talent pools as well. Employers tap wider geographic ranges to find ideal candidates, boosting pay through increased competition. This trend gives Montana finance professionals heightened visibility and bargaining power.
Benefits and Perks for Montana's Finance Professionals
Beyond base pay, Montana employers offer rich benefits to attract top talent, including:
- Health insurance - Over 90% coverage rates with low deductibles
- Retirement plans - Common 401K matching up to 6% of income
- Profit-sharing - Bonuses tied to performance metrics
- Remote work options - Increased flexibility and work/life balance
- Continuing education - Tuition assistance and training programs
Additional perks like gym memberships and commuter benefits are also typical. As competition grows for skilled finance professionals in Montana, compensation packages will likely continue improving across both pay and benefits.
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Entry-Level and Junior Finance Positions in Montana
Entry-Level Financial Analyst Salaries in Montana
Entry-level financial analysts in Montana can expect average starting salaries between $45,000 and $55,000. Factors like education, skills, and geographic location within the state can influence compensation. Those with finance or accounting degrees tend to land towards the higher end of the range. Major metropolitan areas also offer increased pay potential.
As financial analysts gain experience in the first few years, salaries commonly increase to $60,000 to $75,000. Exceptional performance and specialization can enable faster trajectory to over $80,000.
Junior Finance Associate Compensation
Junior finance associates in Montana earn approximately $50,000 to $65,000 in base salary when first starting out. Additional compensation can include annual bonuses up to 10% of base pay, 3 weeks of PTO, retirement contributions, and health/dental coverage.
Within 2-4 years, high-performing finance associates often see base salaries rising to $70,000-$85,000. Bonus potential also grows alongside greater responsibilities. Geographic location and firm size impact earnings as well.
Financial Advisor Trainee Salary Insights
The average starting salary for financial advisor trainees in Montana is approximately $45,000, with the potential to earn up to $60,000 in the first year through commissions and bonuses. As skills develop, salaries can quickly increase to over $75,000 by year two and exceed six figures after gaining a few years of experience.
Top performers at large brokerages and investment firms can earn $150,000-$200,000+ in total compensation beyond 5 years tenure. However, income varies greatly depending on client portfolio size, asset mix, and financial market conditions.
Mid-Level Finance Roles: Salary and Growth in Montana
Mid-level finance professionals in Montana have promising career prospects and earning potential. With its low cost of living and natural beauty, the state offers an appealing lifestyle alongside competitive salaries.
Corporate Finance Associate and Finance Analyst Salaries
Corporate finance associates in Montana earn average salaries of $65,000, with top earners making up to $75,000. With 3-5 years of experience, associates take on planning, forecasting, and analysis responsibilities. Finance analysts in the state have average starting salaries around $55,000, reaching $70,000 for those with 5+ years under their belt. Analysts build models, track metrics, and identify business insights.
The table below compares average salaries for these mid-level roles:
Role
Avg. Salary
Top Salary
Corporate Finance Associate
$65,000
$75,000
Finance Analyst
$55,000
$70,000
Major employers like financial services firms and Fortune 500 companies drive demand - and pay - for talent in cities like Billings and Missoula.
Senior Financial Analyst Compensation Dynamics
With 5-10 years of experience, senior financial analysts in Montana make average salaries of $80,000, with top earners surpassing $95,000. Seniors take on more complex tasks like building valuation models, managing teams, and leading key initiatives.
Growth opportunities into managerial roles or within specific domains like FP&A or credit analysis enable seniors to expand their skills and earning power over time. Continued learning and certification in areas like data analytics, Python programming, and risk management make seniors more valuable in the job market.
Associate Finance Manager Earnings
Associate finance managers with 7-10 years of experience earn average salaries around $90,000 in Montana, with top performers making up to $110,000. Associates manage teams while owning planning, reporting, and decision support for business units.
With expertise in areas like budgeting, variance analysis, and financial modeling, associate managers have clear paths to advance to director and VP levels. Pursuing an MBA also enables associates to develop leadership skills and business acumen required for executive roles.
Senior-Level Finance Careers: Salary Forecast in Montana
The finance job market in Montana is growing steadily along with the state's economy. Major cities like Billings, Missoula, and Bozeman are seeing an influx of new businesses, bringing increased demand for financial talent.
Senior-level finance professionals in Montana can expect competitive salaries and benefits. The low cost of living coupled with high quality of life makes relocating to Big Sky Country an attractive proposition.
Associate Director of Finance: Salary and Benefits
Associate directors of finance in Montana earn an average base salary of $120,000, with total compensation nearing $150,000 when factoring bonuses and equity.
Benefits often include 3-4 weeks of PTO, performance incentives, 401k matching, and full medical/dental coverage. Many companies offer flexible remote work options as well.
The role requires 7+ years of experience in financial planning & analysis (FP&A), financial reporting, budgeting, forecasting, and data analytics. Expertise in systems like NetSuite and Adaptive Insights is valued.
Associate Finance Director Earnings Outlook
The BLS projects 6% national job growth for financial managers from 2020-2030, faster than the average across all occupations. Business expansion in Montana is likely to outpace this.
Associate finance directors with specialized domain knowledge in industries like tech, healthcare, and energy can expect compensation 5-10% higher than market rates. Learning emerging skills like robotics process automation (RPA) and blockchain can also boost one's prospects.
Overall, senior finance roles provide stable career paths with lucrative earnings potential in Montana relative to the low cost of living. The state's pristine natural beauty and abundance of outdoor recreation make it an ideal place to plant roots.
Specialized Finance Roles and Their Salaries in Montana
Finance professionals in Montana have access to a range of specialized roles that offer competitive salaries and opportunities for career growth. Here is an overview of compensation benchmarks for some key positions:
Leveraged Finance Associate Salary Benchmarks
Leveraged finance associates structure financing for acquisitions, buyouts, and corporate expansions. According to PayScale, the average base salary for this role in Montana is $68,932, with a range of $55,000 to $95,000 depending on experience and firm size. Total compensation can reach upwards of $100,000 with performance bonuses.
As a high-growth field, experienced leveraged finance associates may see average salary increases of 5-8% annually as they take on more complex deals and progress into senior roles. Geographic location also impacts pay, with larger metropolitan firms in cities like Billings and Missoula on the higher end.
Public Finance Associate Compensation Analysis
Public finance associates help state and local governments secure funding for infrastructure and community projects. The average base pay for this career path is $66,000 in Montana, with average total compensation of $75,500 including retirement benefits according to the U.S. Bureau of Labor Statistics.
Entry-level salaries start around $55,000, quickly rising to over $70,000 for mid-career professionals. Specializing in high-demand areas like municipal lending or public-private partnerships can boost pay. Public finance associates may also transition into senior-level city or state budget and finance manager roles.
Finance Operations Associate: Pay and Progression
Finance operations associates earn approximately $62,000 on average in Montana based on recent job postings and market data. Starting salaries are often in the $50,000 to $55,000 range for those with 0-2 years of experience.
From there, finance operations associates managing processes like financial planning, reporting, and analysis can see 5-10% annual pay increases. After 5+ years, salaries commonly exceed $75,000. Some continue advancing to manager and director levels with total compensation of $100,000 or more.
Specialized finance positions promise strong salaries - well above Montana's median income. And continued growth in areas like business services and construction are fueling demand for this talent across the state.
Financial Forecasting and Analysis Tools for Montana's Professionals
Financial analysis software, business valuation methods, and account reconciliation skills play an important role in determining finance salaries in Montana. As technology and expertise in these areas advances, compensation trends evolve to match the value they provide.
Financial Analysis Software Utilization in Salary Assessments
Financial analysts in Montana leverage software to evaluate historical trends, model future performance, and uncover insights to guide business decisions. Proficiency with applications like Bloomberg Terminal, FactSet, and Morningstar is especially valued by employers when assessing salaries. The ability to quickly manipulate large datasets, create detailed models, and identify growth opportunities or risks demonstrates critical skills tied to higher pay.
Firms aim to quantify the lift analysts with advanced software skills can provide in accelerating deals, improving portfolio returns, or reducing risks. Job candidates who can speak to how they directly boosted revenues, cut costs, or optimized operations have significant negotiating power. Quantifying contributions makes a strong case for higher base pay and incentive-based compensation.
Business Valuation and Its Impact on Finance Salaries
Valuing companies requires assessing past financials, modeling assumptions, calculating discount rates, and determining fair value or price targets. Analysts who guide deals by determining what a target is worth or uncover hidden value overlooked by the market demand greater compensation.
Especially in private equity, investment banks, or advisory services, valuation-related responsibilities directly tie to fee potential and fund performance. Specialized skills in areas like discounted cash flow analysis, trading comparables, precedent transactions, and leveraged buyout modeling enable higher salaries and bonus payouts correlated to successful deals.
Account Reconciliation Skills and Salary Implications
While less glamorous, strong account reconciliation skills provide essential risk management and controls. Analyzing discrepancies, documenting resolutions, and safeguarding accounts with large transaction volumes has significant financial statement and audit implications.
As responsibilities and account complexities increase, salaries rise in tandem. Junior associates focused on daily reconciliation of lower-risk accounts earn less than managers overseeing monthly close processes across the enterprise. Specialized reconciliation skills also support higher pay in tax, audit, and compliance roles responsible for identifying and explaining irregularities.
Conclusion: Synthesizing Montana's Finance Salary Insights
Recap of Montana's Finance Salary Landscape
Finance salaries in Montana offer competitive compensation, especially when accounting for the state's relatively low cost of living. While salaries are lower than national averages, finance professionals can still earn a good living. Key points:
- Entry-level financial analyst salaries range from $45,000 to $65,000 on average.
- Mid-career finance managers and directors earn $80,000 to $120,000 typically.
- Top performers with 10+ years of experience can make $150,000+.
- Bonuses and equity compensation can add 10-20% or more to total pay.
Salaries do vary considerably by location, firm size, industry, and individual factors. But overall, Montana provides reasonable pay for most finance roles.
Final Thoughts on Financial Forecasting for Compensation Planning
Businesses seeking to attract and retain top talent should develop data-driven compensation strategies aligned with industry benchmarks. Regularly reviewing market salaries and building financial models to forecast budgets ensures compensation remains competitive. While Montana salaries may lag behind other regions, strategic planning and positioning can still enable companies to assemble strong finance teams.
