Accountant in Rochester, MN

Of course. Here is a comprehensive career guide for Accountants considering a move to Rochester, MN.

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The Salary Picture: Where Rochester Stands

As someone who’s watched Minnesota’s economic landscape for years, I can tell you Rochester’s accounting job market is a unique beast. It’s not the Twin Cities, but it’s also not your typical small metro. The economy is anchored by a global healthcare giant, which creates a stable, high-demand environment for finance professionals.

Let’s cut straight to the data. The median salary for an Accountant in Rochester is $84,298/year, which translates to an hourly rate of $40.53/hour. This is slightly below the national average of $86,080/year, a common trade-off for the region's lower cost of living. The metro area contains approximately 244 jobs for accountants, with a projected 10-year job growth of 4%. This growth is steady, not explosive, reflecting Rochester's stable healthcare and manufacturing-based economy.

To understand where you might fit in, here’s a breakdown by experience level. Note that these are estimates based on local job postings and industry data.

Experience Level	Typical Local Salary Range	Key Responsibilities
Entry-Level (0-2 yrs)	$58,000 - $72,000	Bookkeeping, AP/AR, assisting with monthly close, basic financial reporting.
Mid-Level (3-7 yrs)	$72,000 - $92,000	Managing the month-end close, preparing GAAP financials, budgeting, variance analysis.
Senior-Level (8-15 yrs)	$92,000 - $115,000+	Senior accountant, accounting manager, or controller roles. Overseeing teams, internal controls, complex reporting.
Expert/Specialized (15+ yrs)	$115,000 - $150,000+	CPA, audit manager, tax director, or specialized consultant (e.g., healthcare, non-profit).

How does Rochester stack up against other Minnesota cities?

• Minneapolis-St. Paul (Twin Cities): The median salary is higher, closer to $90,000, with a much larger job market (thousands of openings). However, the cost of living, especially housing, is significantly higher.
• Duluth: Salaries are lower, typically in the $75,000 range, with a smaller, more seasonal economy.
• St. Cloud: Salaries are comparable to Rochester but the job market is more focused on education and regional retail.

Insider Tip: Rochester’s salaries are particularly strong in the healthcare and manufacturing sectors due to the complexity of those industries. An accountant with experience in healthcare revenue cycle or medical device cost accounting can command a premium, often landing in the $90,000+ range even at the mid-level.

The Real Take-Home: After Taxes and Rent

The salary number is just one part of the equation. To truly understand your financial picture in Rochester, we need to factor in taxes and the famously affordable cost of living.

Let’s run the numbers for a single accountant earning the median salary of $84,298/year.

• Estimated Monthly Take-Home Pay (after federal, state, FICA, and local taxes): ~$5,200 - $5,400 (This is an estimate; your actual take-home depends on your filing status, 401(k) contributions, etc.).
• Average 1BR Rent in Rochester: $927/month.
• Remaining Monthly Budget (after rent): ~$4,273 - $4,473.

This remaining amount must cover utilities ($150-$200), groceries ($300-$400), car payment/insurance ($400-$600), student loans, and personal savings. The Rochester Cost of Living Index is 93.1 (US avg = 100), meaning your dollar stretches further here than in most of the country.

Can they afford to buy a home?

Absolutely. This is where Rochester truly shines for professionals. While the national housing market is tight, Rochester remains relatively accessible.

• Median Home Price (Rochester Metro): ~$275,000
• Estimated Monthly Mortgage Payment (20% down, 30-year fixed at ~6.5%): ~$1,380 (Principal & Interest only, not including taxes/insurance).

With a take-home pay of over $5,000/month, a mortgage of ~$1,400 is very manageable, leaving substantial room for all other expenses and savings. This ability to build home equity is a major financial advantage over renting in pricier markets.

Where the Jobs Are: Rochester's Major Employers

The job market here is dominated by a few key sectors. Knowing who’s hiring and what they look for is half the battle.

1. Mayo Clinic: As the city’s largest employer, Mayo’s finance department is a massive hub for accountants. Roles range from general ledger accountants to specialized positions in research grants, clinical department budgeting, and capital equipment accounting. They value process-oriented professionals who can handle complex regulatory environments.
2. Olmsted Medical Center (OMC): Mayo’s local competitor. OMC has a leaner finance team but offers roles with broader responsibilities. It’s a great place to gain experience across multiple accounting functions quickly.
3. IBM (Rochester Campus): While tech-focused, IBM’s Rochester site has significant needs for finance professionals to support its hardware (mainframes) and software divisions. Roles here often involve cost accounting, contract analysis, and internal reporting.
4. Kasson-Mantorville School District: Public sector accounting is a stable niche. The district’s business office handles everything from payroll and benefits to state and federal grant compliance. These roles offer excellent work-life balance and pension benefits.
5. Rochester-based Manufacturing Companies: Companies like Mayo Clinic’s own supply chain operations and other medical device manufacturers (e.g., those in the Rochester Technology Park) have a constant need for cost accountants and financial analysts to track production costs, inventory, and efficiency metrics.
6. Local CPA Firms: Firms like Boulay and LarsonAllen (now part of a larger network) have a strong presence. They offer tax and audit roles, providing a classic public accounting path with a local client base that includes many of the above employers.

Hiring Trend: There is a high demand for accountants who are tech-savvy. Proficiency in ERP systems (like Oracle, SAP, or even advanced QuickBooks), data visualization tools (Tableau, Power BI), and advanced Excel is a non-negotiable advantage in nearly every local job posting.

Getting Licensed in MN

For those pursuing a CPA license, Minnesota has clear requirements. If you're moving from another state, you'll need to check with the Minnesota Board of Accountancy for reciprocity details.

• Education: You need 150 semester credits, which typically means a bachelor’s degree plus 30 extra credits. Many local candidates pursue a Master’s in Accounting or an MBA at the University of Minnesota Rochester (UMR) or through online programs.
• Exam: Pass all four sections of the Uniform CPA Exam (AUD, BEC, FAR, REG). You can sit for the exam in Minnesota (testing centers are in the Twin Cities).
• Experience: You must complete one year (2,000 hours) of accounting experience supervised by a licensed CPA. This is achievable through internships and full-time roles at local firms or corporate departments.
• Costs: Budget for approximately $1,500 - $2,500 for exam fees, review courses (like Becker or Roger CPA), and licensing application fees.
• Timeline: From the decision to pursue the license to active status, expect a 2-3 year timeline, depending on your education and how quickly you pass the exams and complete your work experience.

Insider Tip: The accounting community in Rochester is tight-knit. Join the Minnesota Society of CPAs (MNCPA) and attend local chapter events. Networking here is incredibly effective, and many job opportunities are filled through referrals before they’re ever posted online.

Best Neighborhoods for Accountants

Choosing where to live in Rochester can significantly impact your daily life and commute. The city is divided by US Highway 52, and most major employers are clustered around the downtown core and the southwest side.

Neighborhood	Vibe & Commute	Average 1BR Rent	Best For
Downtown	Urban, walkable, close to Mayo Clinic and corporate offices. The "urban core" is revitalizing with new apartments and restaurants.	$1,100 - $1,400	Young professionals who want a short walk to work and a vibrant social scene.
Northwest Rochester (Near Quarry Hill)	Established, family-friendly, with great parks and trails. A 10-15 minute drive to most employers.	$900 - $1,100	Accountants who value outdoor recreation and a quieter, residential feel.
Southeast Rochester (Kasson/Mantorville area)	Small-town feel with excellent schools. Commute is easy via US-63. More affordable housing stock.	$800 - $1,000	Those seeking a strong community, more space, and top-rated schools without a long commute.
SW Rochester (Near OMC & Tech Park)	Modern, suburban, and convenient to OMC, IBM, and many manufacturing employers. Car-centric.	$950 - $1,200	Professionals who prioritize a short commute to specific SW side employers and modern amenities.

Insider Tip: The rental market is competitive but not impossible. Most rentals are managed by a few large companies (e.g., Rochester Residential). Start your search online 60-90 days before your move date, and be prepared with references and proof of income.

The Long Game: Career Growth

Your career trajectory in Rochester is about specialization and vertical movement within large organizations.

• Specialty Premiums:

  • Healthcare Accounting: Professionals with experience in Medicare/Medicaid reimbursement, grant accounting, or clinical department finance can earn a 10-15% premium over general accountants.
  • Cost Accounting: In manufacturing, skilled cost accountants who can drive efficiency and reduce waste are highly valued and can command salaries at the top of the local range.
  • IT/Systems Accounting: Those who can bridge the gap between finance and IT, helping to implement or optimize ERP systems, are in high demand.

• Advancement Paths:

  1. Staff Accountant → Senior Accountant → Accounting Manager → Controller/Controller: This is the most common path in corporate settings.
  2. Audit Associate → Senior Auditor → Audit Manager (at a local CPA firm): This path leads to partnership or a move into a senior corporate role.
  3. Financial Analyst → Senior Financial Analyst → Finance Manager: This path is more forward-looking, focusing on budgeting, forecasting, and strategic planning.

• 10-Year Outlook: The 4% job growth indicates a stable, not rapidly changing market. Automation of routine tasks (like data entry) will continue, increasing the value of accountants who can analyze data, provide strategic insights, and manage complex projects. The aging workforce in both public accounting and corporate finance means there will be consistent openings at the senior and managerial levels over the next decade.

The Verdict: Is Rochester Right for You?

Pros	Cons
Affordable Cost of Living: Your salary goes much further, especially for homeownership.	Limited Cultural Scene: Compared to the Twin Cities, options for arts, music, and dining are smaller.
Stable Job Market: Dominated by healthcare and education, which are recession-resistant sectors.	Can Feel "Company Town": Life and business can revolve around Mayo Clinic, which isn't for everyone.
Excellent Work-Life Balance: Short commutes and a community-oriented culture promote balance.	Winters are Harsh: If you dislike cold and snow, the long winters (Nov-Mar) can be a challenge.
Strong Professional Network: The accounting community is accessible and collaborative.	Limited Public Accounting Choices: Only a handful of mid-sized CPA firms exist; most opportunities are in corporate accounting.
Family-Friendly Environment: Great schools, safe neighborhoods, and abundant outdoor activities.	Slower Pace: For those seeking a fast-paced, high-energy urban environment, Rochester may feel quiet.

Final Recommendation:

Rochester is an excellent choice for accountants who prioritize financial stability, affordable homeownership, and a high quality of life. It’s particularly well-suited for mid-career professionals looking to advance into management or specialize in healthcare/finance. If you’re an early-career accountant seeking the highest possible salary and a vast array of job options, you might start in the Twin Cities. But if you value community, a short commute, and the ability to own a home on a solid salary, Rochester is a hidden gem that’s hard to beat.

FAQs

1. Is the Rochester job market welcoming to accountants relocating from other states?
Yes. The stable healthcare and manufacturing employers are accustomed to hiring talent from outside the region. Your best strategy is to apply for roles 1-2 months before your planned move and be upfront about your relocation timeline. Highlight any experience with large, regulated organizations (which is common for accountants from bigger cities).

2. How competitive is the rental market?
Moderately competitive. The average 1BR rent of $927/month is affordable, but desirable units near downtown or in top school districts go quickly. Start your search early, have your financial documents ready, and be prepared for a credit and background check.

3. Do I need a car in Rochester?
For almost everyone, yes. While downtown is walkable, most employers (OMC, IBM, manufacturing parks) require a car. Public transit exists but is limited. Factor in car payment, insurance, and gas when budgeting.

4. What’s the work culture like at Mayo Clinic versus a smaller firm?
Mayo is a massive, process-driven organization. You’ll work in a large team, follow strict compliance rules, and have opportunities for internal mobility. A smaller CPA firm or a local manufacturer will offer a more hands-on role with broader responsibilities but possibly less structured career paths.

5. Are there opportunities for remote or hybrid work?
Yes, especially post-pandemic. Many of the corporate accounting roles at Mayo, IBM, and other larger employers now offer hybrid schedules (e.g., 2-3 days in the office). Pure remote roles are less common but are emerging, particularly for senior specialists. Always check the job description, as this is a key point to discuss in interviews.

Sources: Data compiled from the U.S. Bureau of Labor Statistics (BLS), Minnesota Department of Employment and Economic Development (DEED), Zillow Rental Data, Cost of Living Index (Council for Community and Economic Research), and local job market analysis.