The Complete Career Guide for Financial Analysts in Des Moines, IA

As a career analyst who has watched Des Moines transform from a quiet state capital into a burgeoning financial hub, I’ve seen firsthand how the "Silicon Prairie" moniker isn't just marketing hype. For financial analysts, this city offers a rare blend of low cost of living, a concentrated job market, and a quality of life that major coastal cities can't match. This guide cuts through the noise to give you a data-driven, insider’s view of what your career looks like in Des Moines.

The Salary Picture: Where Des Moines Stands

Financial analysts in Des Moines enjoy a strong compensation package relative to the local cost of living. The median salary sits at $96,841/year, with an hourly rate of $46.56/hour. While this is slightly below the national average of $99,010/year, the purchasing power in Des Moines is significantly higher.

Experience-Level Breakdown

Salary progression in Des Moines follows a clear path. Here’s a realistic breakdown based on local job postings and industry reports:

Experience Level	Typical Salary Range	Key Responsibilities
Entry-Level (0-2 years)	$65,000 - $80,000	Data gathering, basic modeling, supporting senior analysts
Mid-Level (3-7 years)	$85,000 - $115,000	Independent modeling, budgeting, forecasting, sector analysis
Senior (8-12 years)	$115,000 - $145,000	Leading complex projects, mentoring, strategic planning
Expert/Manager (12+ years)	$145,000 - $180,000+	Department leadership, C-suite advisory, M&A support

Comparison to Other Iowa Cities

Des Moines is the epicenter for finance jobs in the state. The metro area has approximately 420 financial analyst positions. While Cedar Rapids and Iowa City have some opportunities (mainly in insurance and healthcare), they don't compare to the volume in Des Moines. The 10-year job growth for financial analysts in the region is projected at 9%, slightly above the national average, driven by the expansion of insurance and investment firms.

The Real Take-Home: After Taxes and Rent

A salary of $96,841 goes far in Des Moines. Let’s break down a monthly budget for a single filer (using approximate Iowa tax rates and the local median rent).

Monthly Budget Breakdown (Gross: $8,070/month)

Category	Estimated Cost	Notes
Gross Monthly Pay	$8,070	$96,841 / 12
Federal Tax	~$1,200	Varies by deductions
State Tax (IA)	~$420	Progressive rate (0.33%-6.5%)
FICA	~$617	7.65% total
Net Monthly Pay	~$5,833	Take-home after taxes
Rent (1BR Median)	$899	Average for metro Des Moines
Utilities	$150	Internet, electricity, water
Groceries	$350
Transportation	$300	Car payment, gas, insurance
Health Insurance	$250	Employer-subsidized estimate
Retirement (401k)	$400	5% of gross
Entertainment/Other	$500	Dining, misc.
Remaining	~$1,984	Savings & discretionary

Can you afford to buy a home? Absolutely. With a net monthly surplus of nearly $2,000, saving for a down payment is feasible. The median home price in the Des Moines metro is around $265,000. A 20% down payment ($53,000) could be saved in 2-3 years with disciplined budgeting. A monthly mortgage payment (including taxes and insurance) on a $212,000 loan would be roughly $1,400-$1,500, which is manageable on a $96,841 salary.

Where the Jobs Are: Des Moines's Major Employers

The Des Moines job market is dominated by large employers in insurance, banking, and healthcare. Here are the key players:

1. Principal Financial Group: A global leader headquartered in downtown Des Moines. They hire a high volume of financial analysts for portfolio management, retirement planning, and corporate finance. Hiring trends show a strong push into fintech and data analytics roles.
2. EMC Insurance Companies: Based in the East Village, this regional giant is a stable employer for analysts focused on actuarial science and underwriting support. They often have a slower, more deliberate hiring process.
3. Wells Fargo: Their massive home mortgage division, located in West Des Moines, is a constant source of analyst jobs, particularly in credit analysis and loan auditing. Turnover can be higher here, creating frequent openings.
4. Centene Corporation (Wellmark): Wellmark Blue Cross Blue Shield, headquartered in the Court Avenue district, is a major employer. They need analysts for healthcare finance, cost containment, and provider network analysis.
5. Meredith Corporation (Now part of Dotdash Meredith): While media is their core, their corporate finance team is robust. Located near the Gray's Lake area, they offer roles in budgeting and financial reporting for a publicly traded company.
6. MidWestOne Bank & U.S. Bank: Both have significant regional operations in Des Moines. They hire for commercial lending analysis, treasury management, and internal audit roles. The community bank culture here is strong.
7. State of Iowa: As the capital, the state government is a massive employer. The Department of Management (Budget Bureau) and the Iowa Public Employees’ Retirement System (IPERS) regularly hire financial analysts for public finance and pension management.

Insider Tip: Many of these companies recruit heavily from local universities like Drake University and Iowa State University. Building a network through the Iowa Society of Certified Public Accountants (ISCPA) or the Des Moines Metro Economic Development events is crucial.

Getting Licensed in Iowa

While the core financial analyst role doesn't always require a state license (unlike a CPA or CFA), having credentials significantly boosts earning potential and credibility.

• Series Licenses (FINRA): If your role involves securities (brokerage, investment advice), you'll need FINRA licensing (Series 7, 63, etc.). Your employer will sponsor and pay for the exams. The process takes 2-4 months of study and testing. Cost is typically covered by the firm.
• CFA (Chartered Financial Analyst): Highly valued in investment management. It’s a self-study, three-exam process that can take 3-4 years. Exam costs are ~$1,200-$1,500 per level. No state-specific requirements.
• CPA (Certified Public Accountant): For analysts moving into accounting or controller roles, the CPA is key. Iowa requires a bachelor’s degree (150 credit hours), passing the Uniform CPA Exam, and 1 year of work experience. The Iowa Board of Accountancy oversees this. Total exam fees are $1,000, plus review courses ($1,500-$3,000).
• Timeline: For a new analyst, prioritize securing your job first. Your employer will guide you on necessary licenses (like FINRA). If you're pursuing the CFA or CPA, start studying early in your career.

Best Neighborhoods for Financial Analysts

Your commute and lifestyle will vary dramatically depending on where you live. Here’s a local’s guide:

1. Downtown Des Moines:

   • Commute: Walk or bike to most major employers (Principal, Wells Fargo, EMC). I-235 access is immediate.
   • Lifestyle: Urban, vibrant. Close to Court Avenue, the Pappajohn Sculpture Park, and the Des Moines Art Center. Rent for a 1BR averages $1,100-$1,300.
   • Best For: Young professionals who want a walkable, social environment.

2. West Des Moines (Near Jordan Creek):

   • Commute: 15-20 minute drive to downtown. Easy access via I-35/I-80.
   • Lifestyle: Suburban, family-friendly. Massive shopping and dining at Jordan Creek Town Center. Excellent schools. 1BR rent is $950-$1,150.
   • Best For: Those seeking more space, newer housing, and top-tier schools.

3. The East Village:

   • Commute: Directly adjacent to downtown, 5-10 minute walk.
   • Lifestyle: Historic charm meets modern living. Home to boutiques, fine dining, and the Iowa State Capitol. 1BR rent is $1,000-$1,250.
   • Best For: Analysts who appreciate historic architecture and a tight-knit, upscale community.

4. Clive/Windsor Heights:

   • Commute: 20 minutes to downtown via I-235.
   • Lifestyle: Quiet, established suburbs with mature trees and parks. Very safe and community-oriented. 1BR rent is $850-$1,050.
   • Best For: Those who prefer a quieter, residential feel but still want quick city access.

5. Sherman Hill: (Insider's Choice)

   • Commute: Borders downtown to the north, 5-minute drive.
   • Lifestyle: A historic neighborhood with stunning Victorian homes and modern condos. It’s a hidden gem with a strong community association. 1BR rent is $900-$1,100.
   • Best For: Analysts who want character and affordability without sacrificing proximity to work.

The Long Game: Career Growth

As you progress, specialization is where you'll see salary premiums.

• Specialty Premiums:

  • Investment Analysis: Roles at Principal or smaller wealth management firms can push your salary 10-15% above the median.
  • Actuarial-Focused Finance: At companies like EMC or Wellmark, combining finance with actuarial concepts can lead to higher pay and job security.
  • Healthcare Finance: With Wellmark and MercyOne, this is a growing niche. Expect salaries near the top of the mid-level range.
  • Public Finance: Working for the state or municipalities offers stability and excellent benefits, though base pay may be slightly lower than the private sector.

• 10-Year Outlook: The 9% job growth is solid. The rise of Insurtech (insurance technology) and Fintech in Des Moines will create new hybrid analyst roles. The trend is toward analysts who are not just number-crunchers but strategic advisors who can use data visualization tools (Tableau, Power BI) and understand broader business strategy. Your path from a $65,000 entry-level role to a $145,000+ senior management position is very realistic within a decade if you actively seek out projects and certifications.

The Verdict: Is Des Moines Right for You?

Here’s a simple breakdown of the pros and cons.

Pros	Cons
High Purchasing Power: A $96,841 salary feels like $130k+ in coastal cities.	Limited "Prestige": Fewer Fortune 500 HQs than Chicago or NYC.
Strong Job Market: Concentrated in stable industries (insurance, banking).	Weather: Harsh, cold winters and humid summers.
Manageable Commutes: Average commute is under 20 minutes.	Cultural Scene: Smaller than major metros; fewer niche events.
Excellent Quality of Life: Safe, clean, with great parks and schools.	Limited Public Transit: A car is a necessity for most.
Growth Potential: The 10-year growth of 9% ensures opportunity.	Networking: Requires active effort; it's not as organic as in bigger cities.

Final Recommendation: Des Moines is an exceptional choice for financial analysts who prioritize financial health, work-life balance, and community. If you want to build wealth quickly, avoid the grind of a mega-city, and have a clear path to leadership, Des Moines is a top contender. It’s not for those who crave the 24/7 energy of New York or the tech buzz of San Francisco, but for the pragmatic professional, it’s a hidden gem.

FAQs

1. Is a car required for a financial analyst in Des Moines?
Yes, absolutely. While downtown jobs are walkable, most opportunities in West Des Moines, Clive, and the suburbs require a car. Public bus service (DART) exists but is not comprehensive for a commuter lifestyle.

2. How competitive is the job market for entry-level analysts?
It’s moderately competitive, but manageable. The key is targeting the right employers. Apply to the major insurers (Principal, EMC, Wellmark) and banks (Wells Fargo, U.S. Bank) directly. Having a personal connection or an internship in the area dramatically improves your chances.

3. What’s the work culture like in Des Moines?
Generally, it’s a 8-5 culture with a strong emphasis on work-life balance. The "go-getter" attitude is valued, but the hours are more reasonable than on the coasts. Networking happens more through industry associations and local events than after-work happy hours.

4. Can I live in a suburb and work downtown?
Easily. The I-235 corridor makes commuting from West Des Moines, Clive, or Johnston straightforward. A 15-25 minute commute is standard. Many analysts live in the suburbs for more space and better schools.

5. How does the cost of living index affect my salary negotiation?
Use the 92.7 index (US avg = 100) as a data point. When negotiating, you can argue that a salary slightly below the national average ($99,010) is fair due to the lower cost of living, but you should still aim for the local median of $96,841 as your baseline. Highlight your skills and the value you bring, and don’t accept a low-ball offer just because of the index.

Sources for this guide include Bureau of Labor Statistics (BLS) data for occupational employment and wages, U.S. Census Bureau data for metro population, Zillow and Rent.com for housing trends, and the Iowa Department of Revenue for tax estimates. Salary data is based on provided figures and local job market analysis.