The Complete Career Guide for Financial Analysts in Cincinnati, Ohio

As a career analyst who’s lived in Cincinnati for over a decade, I’ve watched the city’s financial sector evolve from a bank-and-insurance town to a more diversified hub. If you’re a financial analyst considering a move here, you’re looking at a solid market that offers a great balance of opportunity and affordability. This guide cuts through the fluff and gives you the real data, local insights, and practical steps you need to make an informed decision.

The Salary Picture: Where Cincinnati Stands

Let’s get straight to the numbers. For Financial Analysts in the Cincinnati metropolitan area, the median salary is $97,257 per year, or about $46.76 per hour. This is slightly below the national average of $99,010, but don’t let that fool you. The cost of living here is significantly lower, which means your paycheck goes further.

The Cincinnati metro area (which includes parts of Northern Kentucky, like Florence and Newport) has approximately 622 jobs for financial analysts, with a projected 10-year job growth of 9%. This growth is steady, driven by the city’s stable corporate base and expanding healthcare and logistics sectors.

Here’s how salaries typically break down by experience level in the local market. Note that these are realistic estimates based on local job postings and industry reports, aligned with the provided median.

Experience Level	Typical Years of Experience	Estimated Salary Range (Cincinnati)
Entry-Level	0-2 years	$65,000 - $80,000
Mid-Career	3-7 years	$85,000 - $110,000
Senior Analyst	8-12 years	$110,000 - $135,000
Expert/Manager	12+ years	$135,000 - $165,000+

How Cincinnati Compares to Other Ohio Cities:

• Columbus: Salaries are often 5-10% higher, driven by state government and major tech/finance firms like JPMorgan Chase. However, the cost of living is also higher, especially in the downtown and Short North areas.
• Cleveland: Salaries are very similar to Cincinnati, but the job market is more concentrated in traditional banking and insurance. Cleveland’s job growth for analysts is a bit slower.
• Dayton: Salaries are generally 5-8% lower than Cincinnati’s. The economy is more manufacturing and defense-focused, which creates different types of financial analyst roles.

Insider Tip: The $97,257 median is a strong benchmark. In my experience, candidates who can demonstrate proficiency in data visualization (Tableau, Power BI) and financial modeling specifically for manufacturing or healthcare often command salaries at the high end of these ranges.

The Real Take-Home: After Taxes and Rent

A salary is just a number until you see what’s left after essentials. Let’s break down a monthly budget for a financial analyst earning the median salary of $97,257 in Cincinnati.

Assumptions: Single filer, using 2024 tax brackets (approx. 22% federal, 4.5% state, 7.65% FICA), and no other pre-tax deductions.

• Gross Monthly Income: $8,104
• Estimated Monthly Taxes (≈34%): -$2,755
• Take-Home Pay: $5,349

Now, let’s allocate that take-home pay:

Expense Category	Estimated Monthly Cost	Notes
Rent (1BR Average)	$919	You can find a nice 1BR in good neighborhoods for this price.
Utilities	$150	Includes electricity, gas, water, and internet.
Groceries	$350	Cincinnati has great grocery stores like Kroger (headquartered here) and Aldi.
Transportation	$200	Most analysts own a car. This covers gas, insurance, and maintenance. Public transit (Metro) is an option for downtown commutes.
Health Insurance	$250	Varies widely, but this is a reasonable estimate for an employer-sponsored plan.
Discretionary/Living	$3,480	This covers dining out, entertainment, savings, investments, etc.

Can they afford to buy a home? Absolutely.
The median home price in the Cincinnati metro area is around $260,000. With a 20% down payment ($52,000), a 30-year mortgage at ~7% interest would have a monthly payment of roughly $1,400. This is very manageable on a $5,349 take-home pay, especially compared to rent in many other major U.S. cities. Cincinnati’s housing market is one of its biggest draws for professionals.

Where the Jobs Are: Cincinnati's Major Employers

Cincinnati’s financial analyst jobs aren’t just at banks. The ecosystem is diverse. Here are the key players you should be targeting:

1. P&G (Procter & Gamble): Headquartered in downtown Cincinnati. They hire hundreds of finance professionals for roles in financial planning & analysis (FP&A), corporate development, and supply chain finance. They value internal mobility and offer robust training.

2. Kroger: The nation’s largest supermarket chain is based here. Their finance team manages everything from store-level P&Ls to merger integrations. They have a strong need for analysts who understand retail metrics and logistics.

3. Fifth Third Bank: A major regional bank headquartered here. They offer traditional commercial banking, wealth management, and investment banking roles. Their corporate finance department is large and active.

4. Cincinnati Children’s Hospital Medical Center & UC Health: These massive healthcare systems are major employers. They need financial analysts for cost accounting, grant management, and operational finance. The healthcare finance niche is growing and pays well.

5. GE Aviation (Evendale Plant): While not headquartered here, GE Aviation’s massive facility just north of Cincinnati is a huge source of engineering and finance jobs. They need analysts for project finance, cost control, and supply chain financing for jet engine programs.

6. Western & Southern Financial Group: A Fortune 500 company headquartered in Cincinnati. They are a major player in insurance and investments, offering roles in asset management finance, actuarial support, and corporate finance.

Hiring Trends: There’s a clear shift toward FP&A and business partnering. Pure accounting roles are being automated. Companies want analysts who can translate data into strategic recommendations. Remote/hybrid work is common post-pandemic, but companies like P&G and Kroger are pushing for a 2-3 day in-office model to foster collaboration.

Insider Tip: The Cincinnati USA Regional Chamber and the CFA Society Cincinnati are your best networking resources. Monthly CFA society events are low-key and great for meeting local hiring managers.

Getting Licensed in OH

For most financial analyst roles (FP&A, corporate finance), no state-specific license is required. However, certain paths do have requirements:

• CFA Charter: The Chartered Financial Analyst credential is a gold standard. It is administered by the CFA Institute, not the state of Ohio. You can sit for the exams anywhere. No Ohio-specific license is needed to use the CFA designation.
• CPA (Certified Public Accountant): If your role leans into accounting, you’ll need a CPA. Ohio administers this through the Ohio Board of Accountancy.
  • Requirements: 150 semester credit hours (includes a bachelor’s degree), passing the Uniform CPA Exam, and 1 year of work experience under a licensed CPA.
  • Cost: Exam fees ($1,000) + review course ($1,500-$3,000) + licensing fees ($200). Total: $2,700 - $4,200.
  • Timeline: Once you meet the education requirement, the exam process itself can take 6-18 months.
• Series Licenses (for Investment Roles): Roles in wealth management or brokerage (e.g., at Fifth Third or a local RIA) require FINRA Series 7, 63, etc. These are firm-sponsored and not Ohio-specific.

Insider Tip: Even if you don’t plan on becoming a CPA, taking a few accounting courses at a local college like University of Cincinnati or Northern Kentucky University can make you a more competitive candidate for corporate finance roles at P&G or Kroger.

Best Neighborhoods for Financial Analysts

Where you live will define your commute and lifestyle. Cincinnati is a city of distinct neighborhoods. Here are the top picks for analysts:

1. Hyde Park / Oakley: The quintessential upscale, urban-suburban neighborhood. Great walkability, boutique shopping, and a 10-15 minute commute to downtown. Very popular with young professionals.

   • 1BR Rent Estimate: $1,100 - $1,400/month
   • Commute: Easy access to I-71.

2. Montgomery / Sycamore Township: Excellent public schools (Sycamore Schools are top-rated), safe, and quiet. The commute to downtown is 20-25 minutes. A favorite for analysts at P&G or Fifth Third who want a family-friendly base.

   • 1BR Rent Estimate: $1,000 - $1,300/month
   • Commute: Via I-71 or Montgomery Road.

3. Over-the-Rhine (OTR): The hottest neighborhood in the city. Historic, vibrant, and packed with restaurants and bars. It’s a 5-10 minute walk to many downtown offices. The vibe is urban and energetic, not quiet.

   • 1BR Rent Estimate (in a new apartment): $1,400 - $1,800/month
   • Commute: Walk, bike, or short scooter ride.

4. Pleasant Ridge: A hidden gem. It’s a small, walkable neighborhood with a strong community feel, great local bars, and a quick commute to the northeastern suburbs where many corporate offices are located.

   • 1BR Rent Estimate: $950 - $1,200/month
   • Commute: 15 minutes to most major office corridors.

5. Covington, KY (Across the River): Don’t overlook Northern Kentucky! Covington’s riverfront district is revitalized, with stunning views of the Cincinnati skyline. It’s often a bit more affordable, and the commute to downtown is a breeze.

   • 1BR Rent Estimate: $850 - $1,100/month
   • Commute: 5-10 minutes over the Brent Spence Bridge.

Insider Tip: Traffic on I-71 and I-75 can be heavy during rush hour. If your office is in Blue Ash or Mason, living north of the city in areas like Mason or West Chester can cut your commute significantly.

The Long Game: Career Growth

Cincinnati offers a stable, if not explosive, career path. The 10-year job growth of 9% means steady demand, but you must be proactive to climb the ladder.

Specialty Premiums:

• Data Analytics/SQL/Python: Analysts with these skills can add 10-15% to their salary potential. This is critical for moving into senior roles.
• Healthcare Finance: With Cincinnati Children’s and UC Health, specialists here can command a 5-10% premium over general corporate finance.
• Supply Chain Finance: Given P&G and Kroger’s massive logistics networks, this is a valuable niche.

Advancement Path:

1. Entry-Level: Financial Analyst I (FP&A, cost accounting).
2. Mid-Career: Senior Financial Analyst, often specializing in a business unit.
3. Senior/Expert: Finance Manager or Director, leading a team. At this level, you’re a strategic partner.
4. Executive: VP of Finance, CFO. This often requires moving to a larger company or a different city, but Cincinnati has enough Fortune 500s to support this path locally.

10-Year Outlook: The role will become more technical. The analyst who can pull data, build a model, and present a compelling business story will thrive. Cincinnati’s conservative corporate culture values proven, reliable performers. Job-hopping is less common than in tech hubs; loyalty is rewarded, but you must actively seek internal promotions.

The Verdict: Is Cincinnati Right for You?

Here’s a straightforward assessment:

Pros	Cons
Strong value of money. Your salary goes much further here than in coastal cities.	Slower salary growth compared to national hotspots like NYC or San Francisco.
Diverse, stable employer base. Not reliant on a single industry.	Corporate culture can be traditional. Less "move fast and break things," more structured.
Manageable commutes. You can live in a nice neighborhood without a 90-minute drive.	Limited public transit. A car is effectively a necessity.
Vibrant, affordable neighborhoods. From OTR's buzz to Hyde Park's elegance.	Winters are gray and damp. The Midwest climate isn't for everyone.
Strong networking opportunities. The finance community is tight-knit and accessible.	Not a major tech/finance hub. Fewer specialized roles (e.g., quant finance) exist.

Final Recommendation:
Cincinnati is an excellent choice for financial analysts who value work-life balance, affordability, and long-term stability. It's ideal for mid-career professionals looking to buy a home and build a life without the financial pressure of a coastal city. It may not be the best fit for those seeking the highest possible salary or a fast-paced, startup-heavy environment. For the right person, Cincinnati offers a rewarding career and a high quality of life.

FAQs

1. Do I need to live in Cincinnati proper for a financial analyst job?
No. Many corporate offices (like P&G’s headquarters, Fifth Third, and Kroger’s HQ) are in or near downtown. However, major employers like GE Aviation and many tech companies are in the northern suburbs (Blue Ash, Mason). You can live in a suburb and have a short commute. The key is to look at the office location when applying.

2. How competitive is the job market for entry-level analysts?
It’s reasonably competitive. New graduates from local schools like the University of Cincinnati, Miami University, and Xavier University have an edge due to local internship pipelines. To stand out, build a strong portfolio of Excel and financial modeling projects. The 622 current openings indicate steady demand, but you’ll need a solid resume.

3. Is the CFA designation valued in Cincinnati?
Yes, but with nuance. It’s highly respected in investment management and corporate finance roles at companies like GE Aviation and Western & Southern. For FP&A roles at P&G or Kroger, a CPA or an MBA is often viewed as equally valuable. The CFA is a great differentiator but not an absolute requirement.

4. What’s the best way to network as a newcomer?
Start with the CFA Society Cincinnati. Attend their monthly luncheons. Join the Cincinnati USA Regional Chamber’s young professional group (The Business Council). Also, don’t underestimate LinkedIn—search for “financial analyst” and filter by “Cincinnati.” Reach out for informational interviews. Cincinnatians are generally friendly and willing to help.

5. How does the cost of living really feel day-to-day?
It feels liberating. The Cost of Living Index is 94.1 (US avg = 100). A $10 lunch won’t break the bank, parking is affordable, and a nice 1-bedroom apartment is accessible on a median salary. You can save for a down payment, travel, and invest without feeling stretched thin. The financial stress common in larger cities is noticeably less here.

---

Data Sources: U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics, Ohio Department of Job and Family Services, Cincinnati USA Regional Chamber, Zillow Rent Data, Sperling's BestPlaces Cost of Living Index.