Financial Analyst in Florence, SC

Here is a comprehensive career guide for Financial Analysts considering Florence, South Carolina.

The Salary Picture: Where Florence Stands

As a local who’s watched Florence’s economy evolve from a textile hub to a regional medical and commercial center, I can tell you the financial sector here is steady but modest. It’s not Charlotte or Columbia, but for a financial analyst, it offers a stable cost of living with a respectable paycheck. The median salary for financial analysts in the Florence metro area is $95,445 per year, which breaks down to an hourly rate of $45.89. This is notably lower than the national average of $99,010/year, but that gap is almost entirely offset by our significantly lower cost of living.

The job market is tight but present. There are approximately 80 jobs for financial analysts in the metro area at any given time, according to BLS data. The 10-year job growth projection is a solid 9%, which suggests a stable, if not explosive, demand for your skills. In my experience, this means you won’t be fighting off a dozen recruiters daily like you might in a major fintech hub, but if you’re qualified and persistent, a good position is attainable.

Here’s how salaries typically break down by experience level in our local market. Note that these are estimates based on regional BLS data and local job postings; the median sits firmly in the mid-career range.

Experience Level	Typical Years of Experience	Estimated Annual Salary (Florence, SC)
Entry-Level	0-2 years	$68,000 - $80,000
Mid-Career	3-7 years	$85,000 - $105,000
Senior-Level	8-15 years	$105,000 - $120,000
Expert/Managerial	15+ years	$120,000+

Compared to other South Carolina cities, Florence presents a unique middle ground. It’s more affordable than the bustling hubs of Charleston (where salaries are higher but rents are double) and Columbia (the state capital, with more government and corporate roles but a higher cost of living). You won’t find the specialized investment banking or asset management salaries of Charlotte, but you’ll also avoid the intense competition and traffic. For a financial analyst who values a slower pace, a short commute, and a high quality of life relative to income, Florence’s $95,445 median is a powerful starting point.

The Real Take-Home: After Taxes and Rent

Let’s get practical. Earning the median salary of $95,445 sounds great, but what’s the real take-home? For a single filer in 2024 (estimating federal, state, and FICA taxes at a combined ~28%), your monthly take-home pay would be approximately $5,550. Now, let’s layer in Florence’s affordable housing.

The average rent for a one-bedroom apartment in the Florence metro is $792/month. This is a game-changer. After rent and taxes, you’re left with roughly $4,758 per month for all other expenses—car payment, groceries, utilities, entertainment, and savings. This is a very comfortable margin for a single professional.

Monthly Budget Breakdown (Annual Salary: $95,445)

• Gross Monthly Pay: $7,954
• Estimated Taxes & Deductions (28%): -$2,227
• Net Monthly Take-Home: ~$5,550
• Average 1BR Rent: -$792
• Remaining for All Other Expenses: ~$4,758

So, can you afford to buy a home? Absolutely. With that remaining $4,758, saving a 5% down payment on a $250,000 home (a nice starter in Florence) would take about 2.5 years of saving $800/month. A 20% down payment would take longer, but the mortgage-to-income ratio would be very favorable. Local lenders often have programs for first-time homebuyers, and property taxes in Florence County are reasonable. This is one of the few metros in the U.S. where a financial analyst earning the local median can realistically plan for homeownership without being house-poor.

Where the Jobs Are: Florence's Major Employers

The job market for financial analysts in Florence is anchored by a few key sectors: healthcare, regional banking, and public administration. You won’t find Fortune 500 headquarters here, but you’ll find stable, well-regarded institutions that need solid financial oversight.

1. McLeod Health: The absolute giant. McLeod is the region’s largest employer and a major medical center drawing patients from across the Pee Dee. Their financial department is sizable, with roles in budgeting, revenue cycle analysis, and grant management. Hiring tends to be steady, focusing on candidates with healthcare finance experience (or a willingness to learn it).

2. First Citizens Bank: A major regional bank with a strong presence in the Carolinas. Their Florence office handles commercial lending, branch operations, and internal audits. They look for analysts with strong modeling skills and a CFA path. They typically promote from within, so an entry-level role here can lead to a solid career.

3. The City of Florence & Florence County Governments: As the county seat, the local governments employ financial analysts for budgeting, grant compliance, and public works projects. These jobs offer great benefits and job security but are highly competitive. You’ll need to keep an eye on the municipal job boards.

4. South Carolina Department of Revenue (Florence Office): The state has a significant presence here. Analysts work on tax policy analysis, enforcement data, and economic impact studies. State jobs provide excellent pensions and benefits, which is a major draw for long-term planners.

5. Franciscan Ministries (St. Francis Hospital): Another major healthcare system in the region. Like McLeod, they need analysts for their financial operations, capital project planning, and physician practice management. The healthcare finance niche is booming here.

6. Regional Credit Unions: Institutions like First Reliance Bank or the local Teachers Credit Union offer financial analyst roles focused on consumer lending, portfolio analysis, and member services. They often have a more community-focused culture than large national banks.

Insider Tip: Networking is key. The Florence Chamber of Commerce hosts regular luncheons, and the local SC Chapter of the Financial Planning Association holds events. Many of these jobs are filled through referrals before they’re ever publicly posted. The hiring trend is for analysts who are proficient in data visualization tools (Tableau, Power BI) and have a strong grasp of ERP systems (like SAP or Oracle).

Getting Licensed in SC

For most traditional financial analyst roles (corporate finance, budgeting, research), you do not need a state-specific license in South Carolina. The CFA (Chartered Financial Analyst) credential is a gold standard and highly respected, but it’s governed by a global body, not the state.

However, if your career path leans toward financial advising, securities sales, or retirement planning, you must be licensed through the South Carolina Department of Insurance (SCDOI) and the Financial Industry Regulatory Authority (FINRA). Here’s the breakdown:

• Series 7 (General Securities Representative): Allows you to trade most stocks, bonds, and mutual funds. Must be sponsored by a FINRA member firm (like First Citizens or an independent broker-dealer).
• Series 66 (Uniform Combined State Law Exam): Qualifies you to provide investment advice and is required in South Carolina for advisors.
• Life & Health Insurance License: Issued by the SCDOI. Required for selling life, health, or disability insurance products.

Costs & Timeline:

• Exam Fees: Series 7 ($80), Series 66 ($80), State Insurance License (~$120). Expect to pay $300-$500 total for exams and processing.
• Study Time: Allow 3-4 months of dedicated study (10-15 hours/week) for the Series 7 and 66 if you’re new to the material. The insurance exam can be studied for in 2-3 weeks.
• Sponsorship: The biggest hurdle. You typically need to be employed by a firm that will sponsor your exams. This is common in bank wealth management divisions and insurance agencies in Florence.

Insider Tip: Many local professionals start in a bank operations or customer service role and transition into an advisor position with company-sponsored licensing. It’s a common and successful path here.

Best Neighborhoods for Financial Analysts

Florence is a city of distinct neighborhoods, each with its own vibe and commute time. Your choice depends on whether you prioritize a walkable urban core, suburban quiet, or easy highway access to employers like McLeod (located on the bustling I-95/I-20 corridor).

1. The Magnolia/Quail Hollow Area: This is where many young professionals and new families congregate. It’s close to the thriving Magnolia Mall area, with restaurants and shopping. Commutes to major employers are easy—about 10-15 minutes to downtown or the McLeod campus. It’s suburban but not isolated. Rent Estimate: $850 - $1,050 for a 1BR.

2. Downtown Florence (The "Brick District"): For those who want a walkable, historic feel with a burgeoning arts and food scene. You can walk to local coffee shops, the Francis Marion University Performing Arts Center, and the downtown library. Commutes are a breeze if you work in the city government or a downtown bank. Parking can be tight. Rent Estimate: $800 - $1,100 for a 1BR/Loft.

3. West Florence (Off Hoffmeyer Rd): More affordable and quieter, with a mix of older homes and new apartments. This area offers a quick commute to the McLeod medical complex and is near the Florence Civic Center. It’s less flashy but very practical. Rent Estimate: $700 - $900 for a 1BR.

4. The Darlington/Montclair Area (South of Florence): Technically a separate town but a popular bedroom community. You’ll get more square footage for your dollar and a small-town feel, with a 15-20 minute commute to most Florence employers. Great for homeowners looking for space. Rent Estimate: $650 - $800 for a 1BR.

5. Timmonsville (East of Florence): A rapidly growing suburb with new apartment complexes and single-family homes. It offers easy access to I-95 and I-20, making it ideal for analysts who might need to travel to other SC cities or who work at the Airport Industrial Park (home to some logistics and manufacturing firms). Rent Estimate: $750 - $950 for a 1BR.

Insider Tip: Traffic in Florence is minimal. The longest commute you’ll face is 20 minutes. Choose your neighborhood based on your lifestyle, not just proximity to work. You’re never more than a 15-minute drive from anything.

The Long Game: Career Growth

Career progression for a financial analyst in Florence follows a few predictable paths. The key is specialization and taking on more responsibility.

Specialty Premiums: In this market, certain skills can bump your salary above the median. Healthcare financial analysts (McLeod, St. Francis) often command a 10-15% premium due to the complexity of healthcare reimbursement. Government finance analysts also see a premium for their expertise in grant writing and compliance—skills that are in high demand. A CFA charterholder can expect to earn $10k-$15k more than a non-chartered peer in a similar role.

Advancement Paths:

1. Vertical in Corporate Finance: Start as a Junior Analyst -> Senior Analyst -> Finance Manager (overseeing a department’s budget) -> Controller or Director of Finance. This path is most common in larger local companies and healthcare systems.
2. Pivot to Advisory: Move from a corporate analyst role to a financial advisor (often within a bank’s wealth management division). This path requires licensing (Series 7 & 66) but offers higher income potential through commissions.
3. Government & Public Sector: Start in a budget analyst role for the City or County. With time and a CPA (Certified Public Accountant) license, you can move into a Deputy Director or Finance Director role, offering unparalleled job security and pension benefits.

10-Year Outlook: The 9% job growth is the key here. This isn’t a boomtown, but it’s not stagnant either. The growth will likely be in healthcare and specialized government finance. The risk is that Florence remains a mid-tier market; the highest-paying, most complex analyst roles are still in Charlotte or Greenville. However, for those who prioritize work-life balance and community stability, the path to a senior role here is clear and achievable. Many financial professionals in their 40s and 50s in Florence have a strong local network and a low cost of living, giving them a quality of life that’s hard to match elsewhere.

The Verdict: Is Florence Right for You?

Pros	Cons
Excellent Cost of Living: Your $95,445 salary goes much further, especially with rents averaging $792/month.	Limited Job Market: Only 80 jobs available means competition for the best roles is fierce; you may need to take a stepping-stone position.
Short Commutes: Most neighborhoods are 5-15 minutes from major employers.	Lower Ceiling on Salaries: The 9% growth is stable but not explosive; senior-level salaries cap out lower than in major metros.
Stable, Anchor Employers: Healthcare (McLeod) and government provide stable, long-term career paths.	Fewer Networking Events: The professional scene is smaller; you’ll need to be proactive in building your network.
Growing, But Not Overwhelming: The city has amenities (good restaurants, low stress) without big-city chaos.	Can Feel Inward-Focused: The job market is local; remote work options for national firms are less common than in bigger cities.

Final Recommendation: Florence is an ideal fit for financial analysts who are practical, community-oriented, and value a high quality of life. It’s perfect for early to mid-career professionals looking to build equity in a home, or for senior analysts wanting to slow down without sacrificing professional relevance. If you’re a career-driven individual focused solely on reaching the highest possible salary bracket within 10 years, you might find the ceiling frustrating. But if you want a balanced life where your paycheck provides real freedom, Florence’s numbers—$95,445 median salary, $792 average rent—make it one of the most financially sensible choices in the Southeast.

FAQs

Q: What’s the job interview process like in Florence?
A: It’s often more personal and less formal than in major cities. Expect 2-3 rounds, often including a meeting with the direct team and a casual lunch. They’re hiring for culture fit as much as skill. Be prepared to talk about why you want to live in Florence specifically.

Q: Is it common to work for a Florence-based company remotely?
A: It’s growing, but still not the norm. Local employers prefer in-office collaboration, given the small team sizes. However, some roles in corporate finance or for non-profits may offer hybrid schedules. Your best bet for full remote work is to get hired by a national company and move to Florence for the low cost of living.

Q: How important is a CPA here compared to the CFA?
A: For corporate finance and government roles, a CPA is highly valued and often required for senior positions (Controller, Finance Director). The CFA is more prized in investment analysis and wealth management. If you’re unsure of your path, the CPA is the safer bet for the local market.

Q: Are there professional associations or networking groups?
A: Yes. The Florence Chamber of Commerce is active. The SC Chapter of the Financial Planning Association meets in Florence quarterly. For government finance, the Government Finance Officers Association (GFOA) has a state chapter. Joining these is the fastest way to build a local network.

Q: What’s the biggest surprise for analysts moving here?
A: How quickly you can establish a deep professional network. The small size of the market means you meet everyone within a few years. This can lead to unexpected opportunities. The other surprise? The lack of traffic. You’ll gain back 5-10 hours a week compared to a commute in a major city.