Financial Analyst in Brookings, SD

The Salary Picture: Where Brookings Stands

As a local, I can tell you that Brookings offers a salary for Financial Analysts that is solid for the Midwest, especially when you factor in the low cost of living. The median salary of $95,475/year is the cornerstone number here. At an hourly rate of $45.9/hour, you're earning a comfortable wage in a community where your money stretches far. It’s important to note this is slightly below the national average of $99,010/year, but that national figure is heavily skewed by high-cost coastal cities. In Brookings, that $95,475 puts you in a very strong position locally.

The job market here is specialized but stable. With 47 jobs listed for Financial Analysts in the metro area, it’s not a sprawling market like Minneapolis or Denver, but there’s consistent demand, particularly from the agricultural, banking, and university sectors. The 10-year job growth of 9% is a positive indicator, suggesting steady expansion rather than explosive, volatile growth. This isn't a boomtown; it's a place for building a long-term career.

Here’s how the salary typically breaks down by experience level in our market:

Experience Level	Estimated Salary Range	Key Employers Hiring at This Level
Entry-Level (0-2 years)	$65,000 - $78,000	Local banks (First Bank & Trust, Premier Bank), Brookings Health System, smaller agricultural firms
Mid-Level (3-7 years)	$80,000 - $110,000	Daktronics, South Dakota State University (SDSU) Finance Office, larger credit unions
Senior-Level (8-15 years)	$110,000 - $140,000	Corporate finance at Daktronics, leadership at Brookings Health System, regional bank management
Expert/Managerial (15+ years)	$140,000+	CFO/Controller roles at major local employers, senior management at banks, consulting for agribusiness

Compared to other South Dakota cities, Brookings holds its own. Sioux Falls, the state's largest metro, offers higher salaries (median around $102,000 for this role) but also a higher cost of living. Aberdeen and Watertown have similar salary profiles to Brookings but with fewer total job openings. The key differentiator for Brookings is the unique blend of stable corporate employers (like Daktronics) and the academic influence of South Dakota State University, which creates demand for both corporate and institutional financial analysis.

The Real Take-Home: After Taxes and Rent

Let’s get real about your budget. On a median salary of $95,475/year, your take-home pay after federal, state (South Dakota has a simple 4.5% income tax), and FICA taxes will be approximately $72,000 - $74,000 annually, or about $6,000 - $6,165 per month. This is a rough estimate; your actual take-home depends on your 401(k) contributions, health insurance premiums, and other deductions.

The biggest financial advantage in Brookings is housing. The average 1BR rent is $789/month. Let’s break down a monthly budget for a Financial Analyst earning the median wage:

Monthly Expense	Estimated Cost	Notes
Take-Home Pay	~$6,100	After taxes & standard deductions
Rent (1BR Apartment)	$789	Well below the US average
Utilities (Electric, Gas, Internet)	$180	Brookings has cold winters; heating costs are a factor
Groceries & Household	$450	Reasonable, especially if you shop at local stores
Car Payment/Insurance	$450	Public transit is limited; a car is essential
Health Insurance (Employer Share)	$250	Varies by employer plan
Retirement Savings (10%)	$796	Pre-tax; crucial for long-term growth
Entertainment/Dining Out	$300	Plenty of local options, lower price point
Miscellaneous & Buffer	$885	Student loans, clothes, travel, savings
TOTAL	$6,100

Can you afford to buy a home? Absolutely. This is where Brookings shines. The median home price in Brookings County is around $275,000. With a $95,475 salary, a 20% down payment ($55,000) is achievable with disciplined savings over a few years. A 30-year mortgage at current rates (around 7%) on a $220,000 loan would be roughly $1,460/month, including taxes and insurance. This is less than twice the average rent, making homeownership a very realistic goal for a mid-career analyst here. Many local professionals buy homes in their late 20s or early 30s.

Where the Jobs Are: Brookings's Major Employers

The job market for Financial Analysts in Brookings is concentrated in a few key sectors. Here are the primary employers you should be targeting:

1. Daktronics: This is the 800-pound gorilla of Brookings' economy. A global leader in electronic scoreboards and display systems, Daktronics has a robust finance department. They hire analysts for corporate FP&A, cost accounting, and financial reporting. Hiring is steady, often tied to the fiscal year and major project cycles. Insider Tip: Networking with SDSU engineering and business alumni often provides an edge here, as many Daktronics managers are graduates.
2. South Dakota State University (SDSU): As one of the state's largest employers, SDSU's finance and administrative offices need analysts for budgeting, grant management, and endowment oversight. The work is stable, with excellent benefits, but the process can be slower than the corporate sector. Insider Tip: Positions are posted on the SDSU HR website; patience is key in the hiring process.
3. First Bank & Trust / Premier Bank / Citibank (Local Operations): Brookings has a strong banking sector. These institutions hire analysts for commercial lending, credit analysis, and branch profitability. Citi has a significant operational center here, offering roles in financial planning and analysis. Insider Tip: A CFA or progress toward one is highly valued in this local banking culture.
4. Brookings Health System: The regional hospital and clinic network requires financial analysts for operational budgeting, revenue cycle analysis, and managing financial aspects of patient care. With healthcare being a stable industry, these roles are recession-resistant. Insider Tip: Understanding healthcare-specific metrics (like cost-per-case) is a big plus.
5. Agribusiness & Cooperatives: Companies like SCAFCO (a grain systems manufacturer) and various agricultural co-ops (e.g., Dakota Growers Pasta Co., though ownership has changed) have finance needs. These roles often blend financial analysis with commodity market knowledge. Insider Tip: Seasonality is a factor; hiring may peak post-harvest (late fall/winter).

Getting licensed in South Dakota is straightforward but not federally mandated. For the CFA charter, you follow the global CFA Institute process. For state-specific licenses (like for insurance or securities), the South Dakota Division of Insurance and South Dakota Department of Labor & Regulation oversee them. Most Financial Analyst roles don’t require a state license, but if you move into wealth management or insurance-linked analysis, you’ll need one. The cost for a Series 7 or 66 license (through FINRA) is typically covered by your employer, but exam fees are around $80-$100 each. The timeline to get started is immediate upon job offer, with study and exam periods taking 2-4 months.

Best Neighborhoods for Financial Analysts

Brookings is a compact, bike-friendly city. Commutes are short (typically under 15 minutes), so you can prioritize lifestyle over a strict "financial district" proximity.

1. Downtown/District 1: The historic core. Walkable to cafes, bars, and the SDSU campus. Mostly older homes and some new loft developments. Rent for a 1BR can range from $850 - $1,100. Best for young professionals who want to be in the social heart of the city. Commute to any employer is under 10 minutes.
2. Brookings Industrial Park / South Loop: This area houses Daktronics, SCAFCO, and many industrial businesses. Housing is a mix of older starter homes and newer apartments. Rent is very affordable, averaging $700 - $850 for a 1BR. Ideal if you work at Daktronics or a related manufacturer; your commute could be a 5-minute bike ride.
3. North Side / Near SDSU: Primarily residential with a mix of owner-occupied homes and student rentals. Offers a quieter, family-friendly vibe. Rent for a non-student 1BR is around $800 - $950. Great for analysts working at SDSU or the hospital, which are on the north side of town.
4. East Side / Highway 14 Bypass: Newer developments with modern apartment complexes and single-family homes. This area offers more space and newer amenities. Rent is slightly higher, $900 - $1,200 for a 1BR. A 10-minute drive to most workplaces. Popular with young families and professionals seeking modern living.
5. West Side / Near Brookings Health System: A established residential area close to the hospital. Offers older, charming homes and quiet streets. Rent is reasonable, $750 - $950. Perfect for those working at the health system or who prefer a settled neighborhood vibe.

The Long Game: Career Growth

In Brookings, career advancement is less about jumping to a new company every two years and more about deepening your expertise within the local ecosystem. The 10-year job growth of 9% suggests that while new positions are created, the path is often vertical within your existing employer or moving to a larger local firm.

• Specialty Premiums: You can command a salary premium by developing niche skills. Expertise in agricultural commodity futures is invaluable for agribusiness roles. Healthcare revenue cycle management is a golden ticket at Brookings Health System. Grant accounting and compliance makes you indispensable at SDSU. For corporate roles, cost accounting and international finance (given Daktronics' global reach) are key differentiators.
• Advancement Paths: The typical path is from Junior Analyst -> Analyst -> Senior Analyst -> Finance Manager -> Controller/Finance Director. The jump to a director-level role often requires an MBA or CPA, and it's a tight-knit community. Many senior roles are filled through internal promotions or local networks. It's common to see professionals spend 5-7 years at a company before moving up or laterally.
• 10-Year Outlook: The financial sector in Brookings is expected to grow steadily, anchored by the stability of SDSU, healthcare, and manufacturing. While you won't see the explosive fintech growth of a major metro, you'll find stable, well-paying jobs with a high quality of life. The key to long-term growth is to become a known expert in your niche—be it university finance, hospital administration, or manufacturing FP&A. Many senior analysts eventually consult for smaller local businesses, creating a second income stream.

The Verdict: Is Brookings Right for You?

Pros	Cons
Extremely low cost of living with high purchasing power	Limited job market (only 47 openings); less mobility
Short, easy commutes (avg. 10-15 minutes)	Limited nightlife and dining compared to a big city
Stable, diverse employers (university, healthcare, manufacturing)	Requires a car; public transit is minimal
Strong sense of community and friendly professional network	Can feel isolated if you're used to major coastal hubs
Excellent for homeownership and building equity	Seasonal weather (harsh winters, hot summers)
Safe, family-friendly environment	Young professionals may find the social scene quiet

Final Recommendation: Brookings is an ideal fit for a Financial Analyst who values stability, affordability, and community over the high-energy, high-turnover environment of a major finance hub. It's perfect for someone looking to buy a home early, build a long-term career with a single employer, and enjoy a high quality of life without the stress of a long commute or crushing rent. It may not be the best choice for someone seeking rapid job-hopping, a vibrant nightlife scene, or exposure to global financial markets. For the right person, Brookings offers a rare and rewarding balance.

FAQs

1. Is a car absolutely necessary in Brookings?
Yes. While the city is bike-friendly for a small town, South Dakota's winters (with snow and ice) make a reliable vehicle essential for daily commuting and groceries. Public bus service exists but is limited.

2. How competitive is the job market for a newcomer?
It's competitive but not cutthroat. Local employers value candidates who show a genuine interest in the community. Tailor your application to highlight how your skills apply to their specific sector (e.g., agribusiness, healthcare, manufacturing). Networking through SDSU alumni events or the Brookings Economic Development Corporation can give you an edge.

3. What's the professional networking scene like?
It's informal and relationship-based. Groups like the Brookings Chamber of Commerce host regular mixers. The local CFA Society South Dakota (based in Sioux Falls but with members statewide) offers events. Many connections are made through community involvement, not just formal organizations.

4. Are there opportunities for remote work?
Some. With Daktronics and Citi having local operations, some hybrid roles exist. However, fully remote Financial Analyst positions are less common in Brookings; the local market still favors in-office roles for collaboration. It's a growing trend but not the norm.

5. How does the weather impact work life?
Winters are long and cold (Nov-Mar), but businesses are well-prepared. Commutes can be delayed during major snowstorms, but employers are generally understanding. Summers are warm and perfect for outdoor activities, balancing the work-life dynamic.