Financial Analyst in Akron, OH

The Salary Picture: Where Akron Stands

Akron isn't a financial powerhouse like New York or Chicago, but it offers a stable, cost-effective environment for Financial Analysts. The median salary here is $96,871/year, which translates to an hourly rate of $46.57/hour. This is slightly below the national average of $99,010/year, but the trade-off is a significantly lower cost of living. With a cost-of-living index of 92.8 (US avg = 100), your paycheck stretches further here.

The job market is modest but steady. There are approximately 377 Financial Analyst positions in the Akron metro area, with a projected 10-year job growth of 9%. This growth is tied to the region's resilient manufacturing, healthcare, and insurance sectors, rather than volatile tech or finance hubs.

Here’s a breakdown of salary expectations by experience level. Note that these are generalized estimates based on the local median; specific salaries vary by industry and company size.

Experience Level	Years of Experience	Estimated Akron Salary Range	Notes
Entry-Level	0-2	$65,000 - $78,000	Often found in manufacturing (Goodyear, FirstEnergy) or regional banks. Requires a Bachelor's in Finance, Accounting, or Economics.
Mid-Level	3-7	$85,000 - $110,000	Roles like Senior Financial Analyst or FP&A Analyst. CFA or CPA may be in progress. Common at larger employers like Summa Health or KeyBank.
Senior	8-15	$110,000 - $140,000	Managerial roles (e.g., Finance Manager). Often requires a designation (CFA, CPA) and deep industry expertise.
Expert/Lead	15+	$140,000 - $175,000+	Director-level positions, strategic planning, or specialized consulting. Highly competitive and often internal promotions.

Insider Tip: Salaries in Akron are more compressed than in coastal cities. The jump from entry to mid-level is significant, but the ceiling is lower. Negotiating for a bonus structure (common in healthcare and manufacturing) can bridge the gap to the national average.

How Akron Compares to Other Ohio Cities

Akron holds its own within Ohio's economic landscape. It's not the top earner, but its affordability is a major draw.

City	Median Salary (Financial Analyst)	Cost of Living Index (US Avg=100)	Key Industries
Akron	$96,871	92.8	Manufacturing, Healthcare, Insurance, Polymers
Cleveland	$98,500	87.9	Healthcare (Cleveland Clinic), Finance, Manufacturing
Columbus	$101,200	94.5	State Government, Insurance (Nationwide), Tech, Retail
Cincinnati	$99,800	93.5	Procter & Gamble, Kroger, Aerospace, Finance
Toledo	$93,400	87.2	Automotive, Glass, Logistics

As you can see, Akron's median salary is competitive with other mid-sized Ohio metros. Columbus and Cincinnati edge it out slightly, but their costs (especially Columbus's rising housing prices) are also higher. Cleveland's salary is marginally better, but its metro area is larger and more competitive. For a balanced lifestyle, Akron presents a strong value proposition.

The Real Take-Home: After Taxes and Rent

Let's get real about your budget in Akron. Using the median salary of $96,871, we can estimate your take-home pay and see what's feasible.

Monthly Budget Breakdown for a Single Earning $96,871:

• Gross Monthly Income: $8,073
• Estimated Taxes (Federal, State, FICA): ~$2,150 (varies by deductions)
• Net Monthly Take-Home: ~$5,923
• Average 1BR Rent in Akron: $816
• Remaining for Utilities, Food, Transport, Savings: ~$5,107

This is a very manageable budget. The 30% rule of thumb (spending no more than 30% of gross income on housing) would allow for a rent of up to $2,422/month—far above Akron's average. Most analysts can comfortably afford a nicer 1BR or a shared 2BR in a desirable neighborhood.

Can They Afford to Buy a Home?
Absolutely. The median home price in the Akron metro is approximately $185,000. With a 10% down payment ($18,500) and a mortgage rate around 7%, the monthly payment (PITI) would be roughly $1,450. This is still under 25% of your gross monthly income, which is well within the "affordable" range. Many Financial Analysts in Akron are homeowners by their early 30s, a stark contrast to coastal metros.

Insider Tip: Property taxes in Summit County are a consideration. They can add $3,000-$5,000 annually to your housing costs, depending on the home's value and municipality. Always get a detailed property tax estimate before making an offer.

Where the Jobs Are: Akron's Major Employers

Akron's job market for financial professionals is anchored in large, stable institutions rather than startups. Here’s a list of key employers, often hiring Financial Analysts:

1. The Goodyear Tire & Rubber Company: Headquartered in Akron. They have a massive corporate finance division for FP&A, treasury, and investor relations. Hiring is consistent but competitive; they often seek candidates with manufacturing or supply chain finance experience.
2. Summa Health System: One of the region's largest healthcare employers. Financial Analysts are needed for budgeting, revenue cycle analysis, and capital planning. The healthcare sector is recession-resistant and growing.
3. FirstEnergy (Headquarters in Akron): A major utility company. Their finance team handles regulatory reporting, long-term financial planning, and risk management. Stable, with strong benefits.
4. KeyBank (Regional HQ in Cleveland, but major presence in Akron): While headquartered in Cleveland, KeyBank has a significant operation in Akron. They hire for commercial banking analysis, credit analysis, and internal corporate finance roles.
5. The University of Akron: A large public university. They employ Financial Analysts for budget management, grant accounting, and endowment fund analysis. Academic schedules offer some flexibility.
6. Nationwide Insurance (Columbus-based, but major employer in Akron): While not headquartered here, Nationwide has a large operations center in the region. They hire for actuarial support, financial analysis, and claims finance.
7. The City of Akron / Summit County Government: Public sector roles in budgeting, grant management, and fiscal analysis. These positions offer excellent job security and pensions, though salaries may be slightly below the private sector median.

Hiring Trends: The demand is strongest in healthcare (Summa) and manufacturing (Goodyear, smaller polymer firms). Insurance is steady. Public sector roles are competitive due to their benefits. Networking is key here; the local finance community is tight-knit. Join the Akron Chapter of the Financial Planning Association (FPA) or the CFA Society Cleveland (which serves the broader Northeast Ohio region).

Getting Licensed in OH

For Financial Analysts, formal state licensing is less common than for roles like a Stockbroker or Investment Advisor Representative. However, certain credentials are highly valued and sometimes required for advancement.

• CFA (Chartered Financial Analyst): Administered by the CFA Institute, not the state. You can sit for the exams from anywhere. In Akron, this is the gold standard for advancement into senior or portfolio management roles. Exam fees are ~$1,200-$1,500 total for all three levels. No state-specific coursework is needed.
• CPA (Certified Public Accountant): If your role leans heavily into accounting, the CPA is critical. Ohio requires a bachelor's degree (150 credit hours), passing the Uniform CPA Exam, and one year of work experience under a licensed CPA. You must apply through the Ohio Accountancy Board. The exam itself costs ~$1,500, plus review courses. The timeline to get licensed is typically 18-24 months after graduation.
• Series Licenses (for Broker-Dealer roles): If you work for a bank or brokerage and are involved in securities trading, you may need FINRA licenses (Series 7, 63, etc.). These are sponsored by your employer. There is no state exam, but you must register with the state's Division of Securities. Training is provided on the job.

Timeline & Cost: For the CFA, you can start studying immediately. For a CPA in Ohio, the process from starting your 150 credits to full licensure can take 2-3 years. Budget $3,000-$5,000 for exam fees, review courses, and application costs.

Insider Tip: Even if you don't pursue a license, listing "CFA Level II Candidate" or "CPA Eligible" on your resume can significantly boost your prospects in Akron's conservative business culture.

Best Neighborhoods for Financial Analysts

Where you live in Akron impacts your commute, lifestyle, and social network. The city is divided by I-77 and I-76, with the Cuyahoga Valley to the north.

Neighborhood	Vibe & Commute	Rent Estimate (1BR)	Key Perks
Downtown Akron	Urban, walkable, quiet after hours. 5-10 min drive to Goodyear, FirstEnergy, Summa Health.	$900 - $1,300	Best for those who want a short commute and a growing bar/restaurant scene. Events at Lock 3.
Fairlawn/Bath	Suburban, affluent, family-oriented. 15-25 min commute to most major employers.	$850 - $1,100	Top-rated school districts, safe, close to shopping (Fairlawn Mall). Popular with young professionals.
Cuyahoga Falls	Scenic, riverfront, active. 15-20 min commute. Notable for its access to the National Park.	$750 - $1,000	Great for outdoor enthusiasts. A strong sense of community. Home to the historic "High Bridge Glens" area.
Montrose/ West Akron	Convenient, commercial. 10-15 min commute. Mix of apartments and older homes.	$700 - $950	Central location, easy access to I-77, restaurants, and retail. Practical and affordable.
Ellet/ East Akron	Residential, working-class. 15-25 min commute.	$650 - $850	More affordable, quieter. Close to the University of Akron's East Campus. Good value for singles.

Personal Insight: Many analysts in their late 20s and 30s choose Fairlawn or Cuyahoga Falls for the balance of space, safety, and proximity to both work and nature. Downtown is gaining traction but still feels like a "weekend" neighborhood for many.

The Long Game: Career Growth

Akron is not a city for dramatic, rapid career jumps. It's for building a solid, stable career.

• Specialty Premiums: You'll earn a premium by specializing in industries central to Akron's economy. A Financial Analyst with polymer/chemical manufacturing experience can out-earn the median by 15-20%. Similarly, healthcare revenue cycle expertise is in high demand at Summa Health and Cleveland Clinic-affiliated centers.
• Advancement Paths: The typical path is from Analyst to Senior Analyst to Finance Manager. The jump to Director is harder, as many roles are based in Cleveland or Columbus. To advance to a Director or VP of Finance, you will likely need to either:
  1. Look for roles at the few headquarters left in Akron (Goodyear, FirstEnergy).
  2. Be willing to commute to Cleveland (30-45 min) or Columbus (2 hours).
  3. Specialize in a niche like Treasury or Strategic Planning.
• 10-Year Outlook (9% Growth): This growth is modest but meaningful. It will likely come from two areas: expansion in healthcare (aging population) and re-shoring of manufacturing (post-pandemic supply chain shifts). The decline of legacy retail (like Goodyear's corporate downsizing in the past) has stabilized. Your job security is high if you're in a core, operational finance role.

Insider Tip: The biggest career accelerators in Akron are certifications (CFA/CPA) and internal networking. The business community is small. Moving from Goodyear to Summa Health, for example, is a common and well-trodden path.

The Verdict: Is Akron Right for You?

Pros	Cons
Excellent Cost of Living: Your $96,871 median salary goes much further than in Columbus or Cincinnati.	Limited High-End Roles: The ceiling for salary and prestige is lower than in major financial hubs.
Stable Job Market: Anchored by Fortune 500 companies (Goodyear, FirstEnergy) and recession-resistant healthcare.	Slower Pace of Change: Less exposure to cutting-edge fintech and venture capital.
Manageable Commutes: Average commute is under 25 minutes. Easy access to Cleveland's amenities (30 min).	Scene Can Feel "Closed": The local finance community is tight; breaking in requires effort.
Outdoor Access: Proximity to Cuyahoga Valley National Park is a huge quality-of-life benefit.	Regional Perception: Akron struggles with brain drain; some ambitious professionals leave for bigger cities.
Homeownership is Accessible: A realistic goal on an analyst's salary.	Weather: Harsh, gray winters can be a drag for 4-5 months.

Final Recommendation:
Akron is an excellent choice for Financial Analysts who prioritize a balanced lifestyle, affordability, and stability. It's ideal for those who want to build equity in a home, enjoy outdoor activities, and work in a steady industry without the intense pressure of a Wall Street environment.

It's not the right fit if your primary goals are to become a millionaire by 40, work in a fast-paced fintech startup, or be at the epicenter of global finance. You'll likely need to move to Cleveland, Chicago, or NYC for that.

For the analyst who values a lower cost of living, a short commute, and a strong sense of community, Akron is a hidden gem.

FAQs

1. How competitive is the job market for new Financial Analysts in Akron?
It's moderately competitive. For entry-level roles at major employers like Goodyear or KeyBank, you'll be competing with candidates from The University of Akron, Kent State, and Ohio State. Having an internship (even at a smaller regional firm) is a significant advantage. The 377 job openings provide a steady pipeline, but you need to be proactive.

2. Do I need a car in Akron?
Yes, unequivocally. Public transportation (METRO RTA) exists but is not comprehensive. Most employers are spread out, and neighborhoods are not densely walkable. A reliable car is essential for commuting and exploring the region.

3. What's the networking scene like for finance professionals?
It's active but not flashy. The CFA Society Cleveland hosts events in Akron periodically. The Akron Regional Chamber of Commerce has young professional groups. The best networking often happens through industry-specific events (e.g., a manufacturing finance conference) or alumni networks from The University of Akron or Kent State.

4. Can I live in Cleveland and commute to Akron?
Yes, many do. The commute is about 30-45 minutes via I-77. It offers the urban amenities of Cleveland with Akron's job market. However, you'll pay more in rent and lose the benefit of Akron's extremely low cost of living. It's a trade-off between city lifestyle and suburban affordability.

5. Is the polymer/chemical industry still a good bet for finance careers here?
Yes, but with a caveat. The industry has consolidated, but it remains a cornerstone of the regional economy. Companies like Goodyear, Bridgestone, and smaller chemical firms (e.g., A. Schulman) still hire specialized financial analysts. Look for roles in corporate FP&A, treasury, or cost accounting within these sectors. They offer strong, stable careers.