Financial Analyst Career Guide: Billings, Montana

As a local who’s watched Billings grow from a rugged railroad town into the financial hub of Eastern Montana, I can tell you this isn’t your typical mid-sized city. It’s where big-sky pragmatism meets a surprisingly robust economy centered on energy, healthcare, and agriculture. For a Financial Analyst, it’s a market with distinct advantages—lower cost of living, strong local employers, and a tight-knit professional community where you can actually get to know the key players. But it’s not for everyone. This guide cuts through the noise with the hard numbers and local insights you need to decide if Billings is your next career move.

The Salary Picture: Where Billings Stands

The financial analyst role in Billings is solidly middle-of-the-pack nationally, but when you factor in the local cost of living, the real purchasing power is significantly higher. The median salary for a Financial Analyst in Billings is $95,920 per year, which breaks down to an hourly rate of $46.12/hour. This is slightly below the national average of $99,010/year, a gap you’d expect in a regional market. The metro area supports 241 jobs for this profession, with a 10-year job growth of 9%—slower than the national average but steady, reflecting the stable but not explosive growth of Montana’s economy.

Experience-Level Breakdown

Level	Years of Experience	Typical Salary Range	Key Responsibilities
Entry-Level	0-2 years	$72,000 - $85,000	Data entry, basic reporting, supporting senior analysts.
Mid-Level	3-7 years	$85,000 - $110,000	Leading projects, modeling, presenting to management.
Senior	8-15 years	$110,000 - $135,000	Strategic planning, mentoring, complex forecasting.
Expert/Manager	15+ years	$135,000+	Departmental leadership, C-suite presentations, M&A.

Comparison to Other Montana Cities
Billings is the largest city in Montana with a typical financial analyst salary that is competitive within the state. Bozeman and Missoula, with their university-driven economies and influx of tech, sometimes see slightly higher top-end salaries, but Billings offers a better balance of pay and affordability.

City	Median Salary (Financial Analyst)	Cost of Living Index	Key Industry Drivers
Billings	$95,920	89.6	Energy, Healthcare, Agriculture
Bozeman	~$98,500	112.3	Tech, Tourism, Education
Missoula	~$96,500	104.8	Education, Healthcare, Tech
Great Falls	~$88,000	92.1	Military, Agriculture, Healthcare

Insider Tip: In Billings, you’ll often find that your negotiation power is stronger in the healthcare and energy sectors than in banking and finance. The local market is less sensitive to national financial trends, which can be a buffer during downturns but also means slower growth during booms.

The Real Take-Home: After Taxes and Rent

Let’s get real about your paycheck. On a $95,920 salary, after federal and state taxes (Montana has a progressive income tax), your take-home pay will be approximately $6,800 - $7,100 per month. The real advantage in Billings is the housing cost. The average 1-bedroom rent is $874/month, a fraction of what you’d pay in a coastal city or even Bozeman.

Monthly Budget Breakdown (Financial Analyst @ $95,920/year)

Category	Estimated Cost	Notes
Take-Home Pay	$7,000	After taxes & deductions
Rent (1BR avg)	$874	Can range from $750-$1,100
Utilities	$150	Electricity, gas, internet
Groceries	$350	Comparable to national average
Transportation	$300	Gas, insurance, maintenance (no car payment)
Health Insurance	$300	Employer-subsidized plan
Retirement (6% 401k)	$480	Pre-tax contribution
Discretionary	$4,546	Savings, entertainment, travel

Can They Afford to Buy a Home?
Absolutely. The median home price in Billings is approximately $325,000. With a 20% down payment ($65,000), a monthly mortgage payment (at ~7% interest) would be around $1,625. This is less than twice the average rent, making homeownership a realistic goal for a mid-career analyst within 3-5 years of saving. Billings has a diverse housing stock, from historic homes in the North End to newer developments in the West End.

Where the Jobs Are: Billings's Major Employers

The job market for financial analysts in Billings is dominated by a few key sectors. The healthcare and energy industries are the primary drivers, with significant roles in banking and agriculture as well. Here are the major local employers:

1. Billings Clinic / SCL Health (now part of Intermountain): The largest healthcare provider in the region. They have a robust finance department with analysts focused on operational budgeting, revenue cycle management, and cost accounting for their extensive hospital network. Hiring is steady, often for analysts with healthcare-specific knowledge (e.g., understanding DRGs).
2. St. Vincent Healthcare (Part of CommonSpirit Health): Another major healthcare player, creating competitive demand for financial talent. Their analysts often work on grant compliance, capital project analysis, and departmental P&Ls.
3. ExxonMobil (and affiliated service companies): While not a corporate headquarters, the Bakken oil field and local refineries create a significant demand for financial analysts in the energy sector. These roles often involve commodity price forecasting, project finance, and cost engineering for upstream and downstream operations.
4. First Interstate Bank: A regional powerhouse headquartered in Billings. This is a core employer for traditional banking and corporate finance analysts. Roles here focus on commercial lending analysis, investment portfolio management, and internal financial reporting.
5. Yellowstone Bank: Another significant local financial institution offering opportunities in commercial banking, credit analysis, and treasury management.
6. Montana-Dakota Utilities Co. (MDU Resources Group): A major utility and construction materials company headquartered in Billings. They employ analysts for rate case analysis, regulatory reporting, and capital project evaluation.
7. The City of Billings & Yellowstone County: Public sector finance offers stable, pension-eligible roles. Analysts here work on municipal budgeting, grant management, and long-term financial planning for the city and county.

Hiring Trends: There's a growing need for analysts who can bridge the gap between traditional finance and data analytics. Companies are investing in better business intelligence tools, and analysts who are proficient in SQL, Tableau, or Power BI have a distinct advantage. The market is not as fast-paced as Denver or Seattle, so roles may not be filled overnight. Networking is critical—attend the Billings Area Chamber of Commerce events and the local CFA Society Montana chapter meetings to get your name out there.

Getting Licensed in MT

Montana does not have a specific "Financial Analyst" license. However, certain roles, especially in investment advising or securities, may require you to hold and maintain specific national certifications. The most relevant are:

• CFA (Chartered Financial Analyst): The gold standard for investment analysis. Administered by the CFA Institute. Cost: $1,345 - $2,545 for all three levels (one-time fees). No state-specific requirements. Timeline: 2-4 years to complete all three levels.
• CFP (Certified Financial Planner): For analysts moving into wealth management. Administered by the CFP Board. Cost: $825 for the exam, plus education course costs ($1,000 - $2,000). Requires a bachelor's degree and relevant work experience. Timeline: 6-18 months.
• Series Licenses (7, 63, 65/66): Required for selling securities or giving investment advice. Sponsored by a FINRA-registered employer. Cost: Exam fees are $80-$100 each. No state-specific adds, but you must be employed by a firm to take them. Timeline: 1-3 months to study and pass.

Montana Office of the Commissioner of Securities and Insurance (MCSI) is the state regulator. For most corporate financial analyst roles (FP&A, budgeting), no state license is required. For investment-related roles, your national certifications are what matter.

Best Neighborhoods for Financial Analysts

Billings is a commuter-friendly city with distinct neighborhoods. Your choice will depend on your lifestyle and commute preferences.

1. Downtown / Historic District: The heart of the business district. Close to First Interstate Bank, the city and county buildings, and many professional services firms. Walkable to restaurants and bars. Rent for a 1BR: $900 - $1,300. Best for young professionals who want an urban vibe.
2. West End: Home to Billings Clinic and St. Vincent Healthcare. This is the epicenter of the healthcare finance jobs. It's also the retail hub (West End Promenade). Rent for a 1BR: $850 - $1,100. Ideal for healthcare analysts seeking a short commute.
3. Heights: A large, sprawling suburban area with excellent schools, newer housing, and a strong family feel. Commute to downtown is 10-15 minutes. Rent for a 1BR: $800 - $1,000. Great for analysts planning to start a family soon.
4. North End: A mix of historic homes and older apartments. It's close to downtown but has a more established, quiet character. Rent for a 1BR: $750 - $950. A budget-friendly option with character.
5. Lockwood: An unincorporated community just east of Billings, with a lower cost of living and a more rural feel. Commute to downtown is 10-20 minutes. Rent for a 1BR: $700 - $850. For those who want more space and don't mind a short drive.

Insider Tip: Traffic in Billings is minimal. A commute from the Heights to the West End at 8 AM might take 15 minutes. This flexibility allows you to choose a neighborhood based on lifestyle rather than a brutal commute.

The Long Game: Career Growth

Career advancement in Billings follows a different path than in larger financial centers. It’s less about jumping between firms and more about deepening your expertise within a local industry.

• Specialty Premiums: Analysts with deep sector knowledge command a premium. A Financial Analyst with healthcare experience might earn 10-15% more than a generalist. Similarly, an analyst with energy sector expertise (commodities, project finance) can see salaries push toward the $120,000+ range.
• Advancement Paths: The path typically goes Analyst -> Senior Analyst -> Finance Manager -> Director of Finance. In larger local employers (like ExxonMobil or the hospitals), you can move into Director-level roles. Another path is to move into a Controller position for a mid-sized company, which often pays $110,000 - $140,000 in Billings.
• 10-Year Outlook: The 9% job growth is promising. The aging population will drive continued demand in healthcare finance. The energy sector is cyclical but will remain a cornerstone. The key to long-term growth is versatility—being able to work in both a corporate and public sector setting, and being comfortable with both traditional accounting and modern data analytics.

The Verdict: Is Billings Right for You?

Pros	Cons
Exceptional purchasing power due to low cost of living.	Limited job market compared to major metros; fewer lateral moves.
Stable, industry-focused employers (healthcare, energy).	Slower pace of advancement; may take longer to reach senior roles.
Minimal commute times and easy access to outdoor recreation.	Cultural and dining scene is smaller than in Bozeman or Missoula.
Strong sense of community and professional networking.	Remote work is less common than in tech hubs; office culture is prevalent.
Lower competitive pressure than in cutthroat financial centers.	Winters are harsh and long; outdoor access is seasonal.

Final Recommendation:
Billings is an excellent choice for Financial Analysts who prioritize financial stability and quality of life over prestige and explosive career growth. It’s ideal for those who want to buy a home, raise a family, and become a respected part of a local industry without the constant pressure of a high-cost, high-stress environment. If you thrive on niche expertise and value building deep local connections, Billings will reward you handsomely. However, if your goal is to work for a global investment bank or hedge fund, you will need to look to larger markets.

FAQs

Q: How does the job market for financial analysts in Billings compare to remote opportunities?
A: The local market is robust but not saturated. Many local employers are still building out their finance teams and prefer in-office collaboration. However, remote work is becoming more accepted, especially for specialized roles. Your best bet is to secure a local role first and then explore hybrid or remote options as you gain experience and trust within the company.

Q: What’s the best way to network in Billings as a financial professional?
A: Join the Billings Area Chamber of Commerce and attend their business after-hours events. The CFA Society Montana (though based in Billings, it covers the whole state) hosts quarterly meetings. Also, get involved with the Montana Society of CPAs if your background is accounting-heavy. The community is small; being visible is key.

Q: Is a Master’s degree required to get a good financial analyst job in Billings?
A: Not typically. A bachelor’s degree in Finance, Accounting, or Economics is sufficient for most entry and mid-level roles. A Master of Business Administration (MBA) from Montana State University Billings or the University of Montana can help you stand out for senior or management roles, but it’s not a hard requirement. Practical experience and certifications (CFA, CPA) often carry more weight locally.

Q: What’s the weather really like, and how does it affect daily life?
A: Billings has a semi-arid climate with four distinct seasons. Winters are cold and dry, with an average of 60 inches of snow (often melting quickly). Summers are hot and dry, with temperatures frequently in the 90s. The big factor is the wind—it’s a constant, especially in spring. Your commute will rarely be impacted by weather (the city is excellent at clearing roads), but you’ll need a reliable vehicle with a good heater and A/C.

Q: How long does it take to get hired in Billings?
A: The hiring process can be slower than in larger cities. From application to offer, expect 4-8 weeks. Local companies move deliberately, often conducting multiple rounds of interviews. Patience is a virtue here. Use the time to research the company and the local industry trends.

Sources: U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics, Montana Department of Labor & Industry, Zillow Rent Data, Cost of Living Index from C2ER.