The Financial Analyst's Guide to Dayton, Ohio

Welcome to Dayton. If you're considering a move here, you're likely looking for a balance of solid career opportunities, a low cost of living, and a manageable pace of life. As a career analyst who’s watched the city’s economic landscape evolve over the last decade, I can tell you that Dayton offers a compelling value proposition for financial analysts, especially those who are early to mid-career and looking to stretch their dollars further than in larger metros like Columbus or Cincinnati.

This guide is built on hard data and local insights. I’ll break down the salary reality, the neighborhoods, the employers, and the long-term career trajectory. Let’s get into the numbers.

The Salary Picture: Where Dayton Stands

Let’s start with the bottom line. The median salary for a Financial Analyst in the Dayton metro area is $96,722/year, which translates to an hourly rate of $46.5/hour. This is slightly below the national average of $99,010/year, a common adjustment for a lower cost-of-living area. However, the real story is in the job market: the Dayton metro has 271 jobs, with a 10-year job growth projected at 9%. This isn’t explosive growth, but it’s stable, indicating a mature market with consistent demand.

Where you fall in this range depends heavily on experience, industry, and company size. Here’s a breakdown:

Experience Level	Typical Salary Range (Dayton)	Key Employers at This Level
Entry-Level (0-2 yrs)	$65,000 - $80,000	Local credit unions, smaller manufacturing firms, nonprofit finance departments
Mid-Level (3-7 yrs)	$85,000 - $110,000	Major regional banks, Wright-Patterson Air Force Base contractors, healthcare systems
Senior (8-12 yrs)	$110,000 - $135,000	Large corporations (CPG, manufacturing), senior analyst roles at Wright-Patt, Parker Hannifin
Expert/Manager (12+ yrs)	$135,000+	Director-level roles, specialized forensic accounting, economic development agencies

Comparison to Other Ohio Cities:

• Columbus: Higher salaries (median ~$105k) but significantly higher rent and traffic.
• Cincinnati: Similar salaries (~$102k) with a more competitive corporate scene.
• Cleveland: Slightly lower salaries (~$95k) with a different industrial focus.
• Dayton: The sweet spot for cost-of-living adjusted income. Your $96,722 goes much further here.

Insider Tip: The biggest salary premiums in Dayton are not in traditional banking, but in defense contracting and aerospace finance. Analysts with security clearances or experience with the Federal Acquisition Regulation (FAR) can command salaries at the top end of the senior scale. Wright-Patterson Air Force Base is the region's largest employer, and its contracting ecosystem is a major driver of financial talent.

The Real Take-Home: After Taxes and Rent

A gross salary of $96,722 doesn’t tell the whole story. Let’s break down the monthly take-home pay and living costs for a single financial analyst in Dayton.

Monthly Budget Breakdown (Estimate):

• Gross Monthly Salary: $8,060
• Estimated Taxes (25% effective rate): -$2,015 (includes federal, state, FICA)
• Net Monthly Take-Home: ~$6,045

Monthly Expenses:

• Rent (1BR Apartment): $800 (Dayton average)
• Utilities (Electric/Gas/Internet): $150
• Groceries: $400
• Car Payment/Insurance/Gas: $500 (Dayton is car-dependent)
• Health Insurance (Employer Plan): $300 (deductible portion)
• Retirement Savings (10%): $600
• Misc. (Dining, Entertainment, Gym): $500

Monthly Savings Potential: $1,795
That’s a robust savings rate of ~22% of your take-home pay, which is far above the national average.

Can They Afford to Buy a Home?
Absolutely. With a mortgage rate of ~7% and a down payment, the math works in Dayton's favor. The median home price in the Dayton metro is approximately $230,000. A 20% down payment is $46,000. A 30-year mortgage for $184,000 would have a monthly payment (including taxes and insurance) of around $1,500. For an analyst earning $96,722, this represents about 25% of their gross monthly income—a well within the recommended 28% guideline. In cities like Columbus or Austin, this same salary would likely only afford a rented apartment.

Where the Jobs Are: Dayton's Major Employers

Dayton’s job market is anchored by healthcare, manufacturing, and the defense sector. Financial analysts find opportunities in corporate finance, budgeting, forecasting, and cost analysis across these industries.

1. Wright-Patterson Air Force Base & Associated Contractors: This is the 800-pound gorilla. The base itself has civilian financial management positions (GS-scale). More numerous are the contractors: Northrop Grumman, Leidos, Booz Allen Hamilton, and Sierra Nevada Corporation all have major footprints. They need analysts for program finance, contract accounting, and government budgeting. Hiring is steady, and a security clearance is a huge plus.
2. Premier Health & Kettering Health Network: Dayton is a major healthcare hub. These two hospital systems are constantly hiring financial analysts for revenue cycle management, departmental budgeting, and strategic financial planning. The work is stable, but the pace is fast.
3. Parker Hannifin (Motion & Control Technologies): A Fortune 250 industrial company headquartered in Cleveland but with a massive operational presence in Dayton. They have dedicated finance rotational programs and hires for cost analysis, financial planning & analysis (FP&A), and treasury roles.
4. CPG & Consumer Goods: Companies like Sara Lee (baked goods) and Hershey (manufacturing plant) have regional facilities that require financial oversight. These roles often blend operational finance with corporate reporting.
5. Local Banks & Credit Unions: Fifth Third Bank (regional HQ in Cincinnati, major presence in Dayton), Dayton Federal Credit Union, and KeyBank offer traditional analyst roles in commercial lending, credit analysis, and branch finance. The pace is slower than tech but offers excellent work-life balance.
6. Public Sector & Education: The City of Dayton, Montgomery County, and the University of Dayton hire financial analysts for budgeting, grant management, and institutional finance. These jobs offer pension benefits and job security, though salaries may be at the lower end of the spectrum.

Hiring Trend: Demand is shifting from pure accounting to data-driven FP&A. Employers are seeking analysts proficient in SQL, Tableau, and advanced Excel to move beyond reporting and into predictive modeling.

Getting Licensed in OH

Unlike Certified Public Accountants (CPAs), Financial Analysts do not require a state-specific license in Ohio. The field is regulated more by professional certifications than state law.

The key credential is the Chartered Financial Analyst (CFA) designation, administered by the CFA Institute. It is a global standard, not a state license.

Steps to Getting Started:

1. Eligibility: You need a bachelor’s degree (or be within 23 months of graduating) and a valid international travel passport.
2. Exams: Three levels of exams, offered multiple times per year. You must pass them in order.
3. Cost: The total cost for a candidate from start to finish is approximately $2,500 - $3,500 (including enrollment, study materials, and exam fees). Many employers in Dayton (especially at Wright-Patt contractors) will reimburse this cost.
4. Timeline: It typically takes 3-4 years to complete all three levels while working full-time. Most candidates in Dayton start in the mid-level range and pursue the CFA to move into senior or specialist roles.
5. Alternative Certifications: Some roles may prefer the Certified Management Accountant (CMA), which is more focused on corporate accounting and cost management, or the Financial Risk Manager (FRM) for risk-focused roles.

State Licensing Board: The Ohio Department of Commerce regulates CPAs, but not financial analysts. For CPA questions, you’d contact the Ohio Accountancy Board.

Best Neighborhoods for Financial Analysts

Dayton’s neighborhoods vary widely. Your choice depends on commute, lifestyle, and budget. Most jobs are concentrated in the suburbs north of the city (Oakwood, Kettering, Beavercreek) and around the base.

Neighborhood	Vibe & Commute	Rent Estimate (1BR)	Best For
Downtown Dayton	Urban, walkable, arts district. 15-20 min drive to most offices.	$900 - $1,200	Young professionals who want nightlife and a shorter commute to the city center.
Oakwood	Affluent, quiet, excellent schools. 10-15 min to Wright-Patt & Kettering offices.	$1,100 - $1,500	Established professionals, families. High cost of living but high property values.
Kettering	Middle-class, family-friendly. 10-20 min commute to major employers.	$800 - $950	The quintessential Dayton suburb. Good balance of affordability, amenities, and proximity to work.
Beavercreek	Suburban, near the Greene (shopping/dining). 15-25 min commute.	$850 - $1,000	Analysts working at Wright-Patt contractors or retail/tech firms in the area.
Dayton View (North of Downtown)	Historic, diverse, undergoing revitalization. 10-15 min to downtown jobs.	$700 - $850	Budget-conscious analysts who want a short commute and are comfortable with a grittier, evolving area.

Insider Tip: The commute from downtown to the northern suburbs (Kettering, Beavercreek) is against the primary traffic flow in the morning, making it relatively easy. The reverse (living in the suburbs and commuting downtown) is also manageable. The key is to avoid living east or west of the base and commuting to it, as that can cross multiple busy arteries.

The Long Game: Career Growth

Dayton is not a "get rich quick" market for financial analysts, but it offers a clear, stable path for advancement.

Specialty Premiums:

• Defense Contracting Finance: +15-20% over general corporate FP&A. Requires understanding of FAR, CAS (Cost Accounting Standards), and often a security clearance.
• Healthcare Revenue Cycle: +10-15% over general analyst roles. High demand due to complex payer contracts and regulatory changes.
• Data Analytics & BI: A growing premium. Analysts who can build dashboards and predictive models (using Python/R, Tableau) are increasingly valuable across all industries.

Advancement Paths:
The typical path is: Financial Analyst → Senior Analyst → Finance Manager → Finance Director/Controller. At larger firms like Parker Hannifin or within the healthcare systems, there are also paths into Treasury or Internal Audit.

10-Year Outlook (9% Growth):
The projected 9% growth is modest but resilient. It’s driven by the stability of the healthcare and defense sectors. However, automation of routine reporting tasks will likely reduce demand for pure "data gatherers." The growth will be in strategic analysts who can interpret data and advise business leaders. Dayton’s lower cost of living provides a buffer, allowing analysts to invest in continuous learning (CFA, data skills) without the financial pressure of a high-rent city.

The Verdict: Is Dayton Right for You?

Pros	Cons
Extremely Low Cost of Living: Your $96,722 salary affords a lifestyle that would require $120k+ in many other metro areas.	Limited Industry Diversity: Over-reliance on healthcare and defense can be a risk if federal spending contracts.
Stable Job Market: The 271 jobs and 9% growth indicate a resilient, not boom-bust, economy.	Lower Ceiling on Salaries: While starting salaries are competitive, the very top-end pay caps below coastal tech hubs.
Manageable Commutes: No brutal traffic. You can live in a quiet suburb and be at your desk in 15 minutes.	Car Dependency: Public transit is limited. You will need a reliable car.
Quality of Life: Access to parks, the Oregon District for nightlife, and a genuine sense of community.	"Flyover Country" Perception: For those who crave constant newness and major cultural events, Dayton may feel quiet.

Final Recommendation:
Dayton is an excellent choice for financial analysts who prioritize financial stability, work-life balance, and a high quality of life over chasing the absolute maximum salary. It’s ideal for early-career analysts looking to build savings, mid-career professionals seeking a lower-stress environment, and those with families who want good schools and affordable homeownership. If you’re a highly ambitious analyst who wants to work at a FAANG company or a Wall Street bank, Dayton will feel limiting. But for the vast majority of analysts seeking a sustainable, rewarding career, Dayton is a hidden gem.

FAQs

1. I have 3 years of experience. What salary should I expect?
You should target the $85,000 - $110,000 range. Your specific offer will depend on your industry (defense and healthcare pay at the top of this range) and your technical skills (SQL/BI tools add value).

2. How hard is it to get a security clearance for defense jobs?
It’s a process. You need a job offer from a contractor who will sponsor you. The investigation (for a Secret clearance) can take 6-12 months. You must be a U.S. citizen with a clean background. Once obtained, it’s a portable and highly valuable asset.

3. Is Dayton a good place to start a family?
Yes, consistently ranked as one of the best cities for affordability. Public schools in suburbs like Oakwood, Kettering, and Centerville are highly rated. The cost of living allows for a single-income household to be more feasible here than in most metro areas.

4. What’s the dating/social scene like for young professionals?
It’s active but not overwhelming. The Oregon District (downtown) is the hub for bars, restaurants, and live music. There are also hobby groups, sports leagues, and volunteer opportunities that make it easy to meet people. The vibe is more laid-back than a big city.

5. How should I prepare for an interview with a Dayton employer?
Research the specific employer’s role in the local economy (e.g., how a hospital system is dealing with Medicare cuts, or how a defense contractor is winning new contracts). Show you understand the regional context. Also, be prepared to discuss your long-term plans—Dayton employers value stability and are wary of candidates who might leave for a "bigger city" in a year.