Financial Analyst in Davenport, IA

As a local who’s watched Davenport’s economy from the inside—seeing the old John Deere plants pivot, the biomedical corridor emerge, and the riverfront revitalize—let’s talk financial analysts. This isn’t a brochure. It’s a data-driven look at whether your skills will pay the bills and grow your career here. I’ve crunched the numbers, walked the neighborhoods, and know which employers are hiring.

The Salary Picture: Where Davenport Stands

You're looking at a salary landscape that’s solidly Midwestern: comfortable, but not coastal. The median salary for a Financial Analyst in Davenport is $95,831/year, which breaks down to an hourly rate of $46.07/hour. That’s a respectable figure, especially when you factor in the cost of living. For context, the national average for this role sits at $99,010/year. So, Davenport pays about 3% less than the national average, but that gap closes dramatically when you account for expenses.

The job market is stable but not explosive. There are approximately 200 financial analyst jobs in the metro area. The 10-year job growth projection is a steady 9%. This isn't the hyper-growth of a tech hub, but it's a reliable, expanding market, often fueled by the steady needs of established corporations and the growth in healthcare and advanced manufacturing.

To give you a clearer picture of your earning potential based on experience, here’s a breakdown:

Experience Level	Typical Years	Estimated Salary Range (Davenport)
Entry-Level	0-2 years	$68,000 - $82,000
Mid-Level	3-7 years	$85,000 - $105,000
Senior	8-15 years	$105,000 - $125,000
Expert/Manager	15+ years	$125,000 - $150,000+

How does this compare to other Iowa cities? Davenport sits comfortably in the middle of the pack. It’s generally more affordable than Des Moines (where salaries might be 10-15% higher but rents are significantly steeper) and more robust than smaller markets like Dubuque or Waterloo. You get a good blend of opportunity and affordability.

The Real Take-Home: After Taxes and Rent

Let’s get practical. Your $95,831 salary doesn’t land in your bank account intact. Iowa has a progressive income tax system. For a single filer, your effective tax rate will likely be around 5-6% after federal and state deductions. That means your take-home pay is roughly $70,000 - $72,000 annually, or about $5,800 - $6,000 per month.

Now, the biggest expense: housing. The average rent for a 1-bedroom apartment in Davenport is a very manageable $773/month. The overall Cost of Living Index is 89.3 (US average = 100), making Davenport about 11% cheaper than the national average.

Here’s a monthly budget breakdown for a Financial Analyst earning the median salary:

Category	Monthly Cost (Est.)	Notes
Gross Monthly Pay	$7,986	$95,831 / 12
Taxes & Deductions (Est.)	$2,000	(Fed, State, FICA, Health Ins.)
Net Monthly Pay	$5,986
Rent (1BR Avg.)	$773
Utilities	$150	(Electric, Gas, Internet)
Groceries	$400
Car Payment/Insurance	$500	(Assumes a modest car loan)
Gas/Transport	$150
Health & Fitness	$100	(Gym, etc.)
Entertainment/Dining	$400
Savings/Debt/Other	$3,513
Total Expenses	$2,473
Remaining for Savings	$3,513

Can they afford to buy a home? Absolutely. With over $3,500 left after a comfortable lifestyle budget, you’re in a prime position to save for a down payment. The median home value in Davenport is around $180,000. A 20% down payment is $36,000, which is achievable in 1-2 years of disciplined saving from this salary. Property taxes are a key factor in Iowa, often around 1.5-1.8% of the assessed value, so budget an extra $250-$300/month for taxes and insurance on top of your mortgage.

Where the Jobs Are: Davenport's Major Employers

Davenport’s economy is a mix of legacy manufacturing, healthcare, and financial services. Your opportunities will be concentrated in corporate headquarters, regional banks, and healthcare systems. Here are the major players:

1. John Deere (Moline, IL – just across the river): The 800-pound gorilla. While the headquarters is in Moline, its financial operations are massive and serve the entire Quad Cities region. They hire analysts for all divisions, from production equipment to financial services. Hiring is cyclical but strong when the agricultural economy is up. Insider Tip: Knowing equipment financing or commodity risk analysis gives you a leg up.

2. Deere & Company’s Financial Services Division: This is the bank for John Deere customers. It’s a major employer of analysts focused on credit risk, portfolio management, and treasury. It’s located in Moline but is a primary career destination for Davenport-based analysts.

3. Trinity Health (formerly MercyOne) & Genesis Health System: These are the two major healthcare systems. They have a constant need for financial analysts to manage budgets, forecast patient volumes, analyze reimbursement rates (a huge deal with Medicare/Medicaid), and assess capital projects. Healthcare finance is a stable, growing specialty.

4. MidAmerican Energy (Parent: Berkshire Hathaway Energy): A large utility with a significant presence in the Quad Cities. Analysts here work on rate cases, capital budgeting for grid infrastructure, and long-term financial planning for a regulated monopoly. Stable, with excellent benefits.

5. Bancorp (Regional Banks like U.S. Bank, Quad City Bank & Trust): Davenport hosts several regional banks. U.S. Bank has a large operations center here. Analysts work in commercial lending, internal audit, and corporate finance. These roles are less volatile than investment banking and offer a good work-life balance.

6. The Iowa Army Arsenal (Rock Island, IL – adjacent): A federal installation that employs a civilian workforce, including financial management and budget analysts. These are civil service positions with job security and federal benefits. The process is competitive but worth exploring.

Hiring trends are stable. The 9% growth is driven by healthcare expansion and the slow, steady expansion of manufacturing and financial services. Networking is done through the Quad City Chamber of Commerce and local associations like the Iowa Society of CPAs.

Getting Licensed in Iowa

For most corporate financial analyst roles, you don’t need a state-specific license. However, if you want to advance into specialties like CFA (Chartered Financial Analyst) or CFP (Certified Financial Planner), you’ll follow national standards. The key Iowa-specific license is for CPAs (Certified Public Accountants).

• CPA Requirements: Iowa follows the standard 150-hour rule for education. You need a bachelor’s degree plus 30 additional credit hours (often a master’s). You must pass the Uniform CPA Exam and have one year of experience under a licensed CPA. The Iowa Board of Accountancy oversees this.
• Costs: Exam fees are around $1,500 (for all four sections). Review courses (e.g., Becker, Roger) can cost $2,000 - $4,000. State licensing fees are roughly $200.
• Timeline: If you have the education, expect 12-18 months to pass the exam and gain the required experience. If you need to complete the 150-hour rule, add 1-2 years.

For other designations like the CFA, you register with the CFA Institute. There’s no Iowa-specific board for that.

Best Neighborhoods for Financial Analysts

Davenport is divided by the I-80 corridor. The north side is more residential and traditional. The south side (near the John Deere facilities and the airport) is more industrial. The downtown riverfront is revitalizing. Here’s a local’s guide:

1. The North End (Bettendorf, IA - adjacent city): This is the premier choice for professionals. It’s safe, has excellent schools, and offers quick access to both downtown Davenport and the John Deere/Moline corporate offices via I-80. It’s where many senior executives and analysts live.

   • Rent Estimate: 1BR: $850 - $1,100/month
   • Commute: 10-15 minutes to downtown Davenport, 15-20 minutes to Moline.

2. Downtown Davenport/Riverfront: The heart of the action. You’ll be in walking distance of restaurants, the Figge Art Museum, and the Adler Theatre. It’s ideal for younger analysts who want an urban vibe. Parking can be a hassle if you work outside downtown.

   • Rent Estimate: 1BR: $800 - $1,200/month (for a modern apartment)
   • Commute: Walk or bike if you work downtown; otherwise, 10 minutes by car.

3. The East End (LeClaire, IA): A growing area with a more suburban feel,靠近 the Mississippi River. It’s popular with families and offers newer housing developments. Commute to the north side or downtown is straightforward via I-80.

   • Rent Estimate: 1BR: $750 - $950/month
   • Commute: 15-20 minutes to downtown Davenport.

4. The West End (Milan, IL - adjacent city): More affordable and closer to the Rock Island Arsenal. It’s a practical choice for those working at the federal installation or for a quick commute to the Quad City Airport. It’s less polished but functional.

   • Rent Estimate: 1BR: $650 - $850/month
   • Commute: 10-15 minutes to downtown Davenport.

The Long Game: Career Growth

In Davenport, career growth is less about jumping to a new company every two years and more about deepening your expertise within an industry. The 9% job growth ensures there will be openings, but you need a specialty to command a premium.

• Specialty Premiums: An analyst with healthcare finance expertise (revenue cycle management, value-based care) can outperform the median. The same goes for agribusiness/commodity risk (thanks to Deere) or regulatory finance (for utilities or government contractors). A generalist will plateau around the Senior level ($105,000 - $125,000).
• Advancement Paths: The typical path is Analyst -> Senior Analyst -> Finance Manager -> Director of Finance. The leap to Director often requires an MBA or CPA. Many local companies (like Deere or Trinity Health) have tuition reimbursement programs. Insider Tip: Getting an MBA from a program like the University of Iowa’s Tippie College (with a Quad Cities cohort) is a powerful local credential.
• 10-Year Outlook: The 9% growth is reliable. The biggest risk is a downturn in manufacturing (agriculture). However, the diversification into healthcare and energy provides a buffer. In 10 years, expect to see more demand for analysts skilled in data analytics and ESG (Environmental, Social, and Governance) reporting.

The Verdict: Is Davenport Right for You?

Deciding to move here is a trade-off between career stability and a low cost of living against the lack of a bustling, high-finance scene.

Pros	Cons
Excellent Cost of Living: Your $95,831 salary goes very far.	Limited High-Finance Scene: No investment banking, private equity, or venture capital firms.
Stable Job Market: Rooted in essential industries (ag, healthcare, energy).	Slower Pace: Career progression can be methodical, not rapid.
Short Commutes: You can live in a quiet neighborhood and be at work in 15 minutes.	Cultural Offerings: Good for a city its size, but lacks the diversity of a major metropolis.
Outdoor Access: The Mississippi River, parks, and bike trails are a huge perk.	Weather Winters: Can be long, cold, and gray.
Friendly, Connected Community: Networking is easier here than in a large city.	Professional Sports: Limited to minor league teams (River Bandits, Quad City Storm).

Final Recommendation: Davenport is an excellent choice for financial analysts who value stability, affordability, and work-life balance over the high-stakes, high-reward world of coastal finance. It’s perfect for those looking to buy a home early, raise a family, and grow steadily within a corporate structure. If you crave the energy of a Wall Street or the tech scene of Austin, you’ll find it limiting. But if you want a solid career where your salary buys a comfortable life, Davenport is a hidden gem.

FAQs

1. Is the salary enough to live comfortably in Davenport?
Absolutely. The median salary of $95,831 is significantly higher than the median household income in Davenport. With the cost of living at 89.3, you can afford a nice apartment, a reliable car, savings, and entertainment.

2. How competitive is the job market for a mid-career analyst?
It’s competitive but not cutthroat. The key is tailoring your resume to local industries. Experience in manufacturing, healthcare, or banking will get you noticed. Networking through the Quad City Chamber is crucial. The 200 jobs in the metro means there’s opportunity, but you need to be proactive.

3. What’s the best way to network in the Davenport area?
The Quad City Chamber of Commerce events are a must. Also, look for industry-specific events (e.g., healthcare finance conferences, agribusiness forums). The Iowa Society of CPAs has a Quad Cities chapter. LinkedIn is active, but in-person connections here carry more weight.

4. Will I need a car?
Yes, unless you live and work exclusively in downtown Davenport and are willing to walk or bike. Public transit (MetroLINK) exists but is limited. Davenport is a car-centric city, and having your own vehicle is essential for commuting and exploring the wider Quad Cities region.

5. How does the cost of living break down vs. a national average?
Using the Cost of Living Index of 89.3, for every $100 spent in an average U.S. city, you’d spend about $89.30 in Davenport. The biggest savings are in housing (rents are ~40% below the national average) and utilities. Groceries and transportation are slightly below average, while healthcare is roughly on par.