Financial Analyst in Livonia, MI

The Salary Picture: Where Livonia Stands

As a local who’s watched the financial landscape evolve in our corner of Wayne County, I can tell you that Livonia offers a solid, middle-of-the-road compensation package for Financial Analysts. It’s not Detroit-level big-money, but it’s above the national median for a cost of living that’s slightly below the U.S. average. You get stability and a reasonable lifestyle, especially if you’re coming from a pricier coastal city.

Here’s the hard data: The median salary for a Financial Analyst in the Livonia metro area is $98,415/year, which translates to an hourly rate of $47.31/hour. This puts it just a hair below the national average of $99,010/year. The job market, while not enormous, is stable, with an estimated 184 jobs available in the metro at any given time. Over the last decade, the field has seen a 9% job growth, a sign of steady, if not explosive, demand.

To give you a clearer picture, here’s how experience level impacts your earning potential. These are estimates based on local job postings and industry reports from the Bureau of Labor Statistics (BLS).

Experience Level	Estimated Annual Salary (Livonia)	Key Responsibilities
Entry-Level (0-2 yrs)	$65,000 - $78,000	Data gathering, basic financial modeling (Excel), supporting reports.
Mid-Level (3-7 yrs)	$92,000 - $110,000	Independent modeling, budgeting, variance analysis, presenting to managers.
Senior (8-12 yrs)	$115,000 - $135,000	Leading projects, mentoring juniors, complex forecasting, strategic analysis.
Expert/Manager (12+ yrs)	$140,000+	Department leadership, M&A analysis, C-suite presentations, FP&A oversight.

Compared to other Michigan cities, Livonia holds its own. Ann Arbor, with its university and tech scene, often sees salaries 10-15% higher, but the cost of living is also steeper. Grand Rapids has a vibrant business community and similar compensation, but with a different industry mix (more manufacturing and healthcare). Detroit’s metro area (which includes Livonia) offers a wider range, from massive corporate HQs to smaller firms, so salaries can swing more wildly. For a balanced lifestyle with good pay, Livonia is a sweet spot.

The Real Take-Home: After Taxes and Rent

Let’s be real: the gross number is just a starting point. What matters is what you keep. Using the median salary of $98,415, here’s a rough monthly breakdown for a single person claiming the standard deduction in Michigan.

• Gross Monthly Income: $8,201
• Estimated Deductions (approx. 25-28%): ~$2,300
  • Federal Tax: ~$1,100
  • FICA (7.65%): ~$628
  • State Tax (4.25%): ~$349
  • Health Insurance/401k (est.): ~$223
• Net (Take-Home) Monthly Income: ~$5,900

Now, factor in rent. The average 1-bedroom apartment in Livonia rents for $1,019/month. This is a major advantage. In a tier-1 city, that same salary would be consumed by housing costs alone. In Livonia, your rent would be roughly 17% of your take-home pay, leaving you with nearly $4,881 for everything else—utilities, car insurance, groceries, entertainment, and savings.

The Cost of Living Index for Livonia is 98.0, meaning it’s 2% cheaper than the U.S. national average. This plays out practically. A gallon of milk, a doctor’s visit, and a tank of gas are all marginally less expensive. This buffer is what makes homeownership a realistic goal. With a $5,900 monthly take-home, you could comfortably afford a mortgage payment of around $1,800/month, which in Livonia’s current market can get you a solid 3-bedroom, 2-bath home in a good neighborhood. Saving for a down payment is the primary hurdle, but the monthly math works in your favor here.

Where the Jobs Are: Livonia's Major Employers

Livonia isn’t a standalone financial hub; it’s a strategic part of the broader Detroit metro economy. Most financial analyst roles here are with large, stable corporations that have significant operations in the area. Networking is key, and knowing where to look is half the battle.

1. Ford Motor Company (Dearborn HQ, but major Livonia presence): While the HQ is in Dearborn, Ford’s financial services arm and various manufacturing plants (like the Livonia Transmission Plant) have finance teams. Hiring is cyclical but consistent. They look for analysts with strong SAP skills and an understanding of automotive cost accounting.
2. Stellantis (North American HQ in Auburn Hills): The parent company of Chrysler, Jeep, and Ram has a massive footprint in Metro Detroit. Their financial planning & analysis (FP&A) teams are always looking for talent to manage billions in revenue. They prefer candidates with CFA or CPA progressions.
3. Beaumont Health (now Corewell Health): With major hospitals in Royal Oak and Dearborn, this health system is a huge employer. Healthcare finance is a specialty—deal with billing, reimbursement rates, and capital budgeting for medical equipment. It’s a growing, recession-resistant field.
4. Dick’s Sporting Goods (Corporate HQ): Surprisingly, this national retailer is headquartered in Coraopolis, PA, but they have a significant distribution and finance operations center in nearby Plymouth (a 10-minute drive from Livonia). They hire analysts for supply chain finance and inventory management.
5. Chicago Bridge & Iron (CBI): A major engineering and construction firm with a large office in Livonia. They work on energy and infrastructure projects. Their finance teams manage project costing, contracts, and international revenue recognition. This is a great spot for analysts who want to work on large, complex deals.
6. Local Banks and Credit Unions: Don’t overlook regional players. DTE Energy (headquartered in Detroit) has a massive finance department, and Flagstar Bank (now part of NYCB) has a significant presence. Credit unions like Michigan First Credit Union also need analysts for their own financial health.

Insider Tip: The hiring process here is often slower and more traditional than in tech hubs. Networking through events at the Detroit Regional Chamber or alumni groups from University of Michigan Ross School of Business (which has a strong Detroit alumni presence) can get your resume to the top of the pile.

Getting Licensed in MI

For the vast majority of Financial Analysts, no state-specific license is required to practice. The field is governed by professional certifications, not state boards. However, if you’re considering roles in wealth management or selling securities, you’ll need to register with the Michigan Department of Insurance and Financial Services (DIFS) and the Financial Industry Regulatory Authority (FINRA).

• Common Certifications (Not State-Licensed):

  • Chartered Financial Analyst (CFA): The gold standard for investment analysis. It’s a self-study program with three exam levels. Total cost: ~$3,000 - $4,500 (exam fees, study materials). Timeline: 2-4 years minimum.
  • Certified Public Accountant (CPA): Ideal for analysts in corporate accounting or FP&A. Requires 150 college credit hours, passing the Uniform CPA Exam, and one year of work experience. Exam costs: ~$1,000 - $1,500. Timeline: 1-1.5 years after eligibility.
  • Securities Licenses (Series 7, 63): Required if you’re selling securities or providing investment advice. You must be sponsored by a FINRA-member firm to take the exams. Costs are typically reimbursed by the employer.

• Costs & Timeline: For a standard Financial Analyst role, you can start working immediately with a bachelor’s degree (typically in Finance, Accounting, or Economics). Investing in a CFA or CPA later is the path to higher salaries. The Michigan DIFS website is your resource for any financial product licensing.

Best Neighborhoods for Financial Analysts

Livonia is largely suburban, safe, and family-friendly. Commutes are generally short, as most major employers are within a 20-30 minute drive. Here’s a breakdown:

Neighborhood/Area	Vibe & Commute	Est. 1BR Rent	Best For...
Central Livonia	The core. Older, established neighborhoods with mature trees. Close to dining on Plymouth Road. Commute to most employers is 10-20 mins.	$950 - $1,100	Those who want to be in the heart of the action with a short commute.
Farmington Hills (West)	Upscale, excellent schools, newer developments. Borders Livonia to the west. Commute to Ford/Stellantis is easy via I-275.	$1,200 - $1,400	Analysts with families or those prioritizing top-tier schools and amenities.
Plymouth (North)	Charming, walkable downtown with a small-town feel. Home to the Ford Proving Grounds. Commute to Detroit core is 25 mins.	$1,100 - $1,250	Those who want a vibrant community feel outside of a major city.
Canton (South)	Rapidly growing, more diverse, with a mix of apartments and single-family homes. Close to I-275 and I-94. Commute to most Livonia jobs is 15 mins.	$1,000 - $1,150	Young professionals seeking affordability and growth potential.
Northville (East)	Historic, upscale, and pricey. Excellent schools. Commute to Livonia core is 15-20 mins, but traffic can be heavy on I-96.	$1,300+	Senior analysts or those with dual incomes looking for a premium lifestyle.

Insider Tip: Traffic on I-96 and I-275 during rush hour is a reality. If you can find a job in the Livonia/New Farmington area, living in Central Livonia or Canton gives you a reverse commute or a very short drive, which is a huge quality-of-life boost.

The Long Game: Career Growth

The 9% job growth over 10 years indicates a solid foundation, but advancement requires specialization. In Livonia’s market, you’re not just competing with locals; you’re competing with talent from the entire Metro Detroit area.

• Specialty Premiums:

  • FP&A (Financial Planning & Analysis): This is the most common path. Salaries can jump 15-25% upon moving into a senior FP&A manager role.
  • M&A Analyst: For those at large firms like Stellantis or private equity-backed companies, bonuses can be significant. Base pay is similar, but total comp can be 30-50% higher.
  • Healthcare Finance: A growing niche. With Corewell Health and other systems, specializing here can lead to stable, high-demand roles.
  • Data Analytics/SQL/Python: Analysts who can move beyond Excel into data visualization (Tableau, Power BI) and query large datasets command a 10-20% salary premium. This is becoming the new standard.

• Advancement Path: Typical path is Financial Analyst > Senior Analyst > Finance Manager > Director of Finance > VP of Finance. Moving from a manager to a director is the biggest leap, often requiring an MBA or CFA/CPA and proven leadership. The 10-year outlook is positive: as automation handles routine reporting, analysts who provide strategic, forward-looking insights will be in higher demand. The key is to never stop learning. Use the proximity to the University of Michigan and Michigan State University (both have strong Detroit-area programs) for executive education or networking.

The Verdict: Is Livonia Right for You?

Livonia offers a pragmatic, no-nonsense career path for Financial Analysts. It’s a place to build a solid foundation, gain experience with major corporations, and enjoy a comfortable lifestyle without the financial strain of larger metros. It’s not a flashy startup scene, but it’s a land of opportunity for those who value stability.

Pros	Cons
Cost of Living is a Major Win: Your salary stretches further here.	Limited "High-Finance" Roles: You won’t find many boutique investment banks or VC firms.
Stable Job Market: Anchored by automotive, healthcare, and manufacturing giants.	Can Feel Suburban/Spread Out: If you crave a dense, walkable urban core, Detroit is a better bet.
Short Commutes: Most jobs are within a 20-minute drive.	Cultural Scene is Modest: You’ll likely drive to Detroit, Ann Arbor, or Ferndale for major concerts and events.
Family-Friendly: Excellent public schools, safe communities, and parks.	Winters are Harsh: Be prepared for snow and gray skies from November to March.
Strong Alumni Networks: Proximity to major universities provides networking opportunities.	Economic Cyclicality: Tied to the auto industry, which can be volatile.

Final Recommendation: If you’re an analyst looking for a balanced lifestyle, strong compensation relative to cost, and experience with large, complex organizations, Livonia is an excellent choice. It’s especially suitable for those with families or who are early in their career and want to save money. If you’re seeking a fast-paced, high-risk/high-reward environment in tech or boutique finance, you’d be better served in Austin, Denver, or New York. For the pragmatic professional, Livonia delivers.

FAQs

1. Do I need a car in Livonia?
Yes, absolutely. Livonia and its surrounding suburbs are built for cars. Public transportation exists but is not comprehensive. A reliable vehicle is essential for commuting and daily life. Car insurance rates in Michigan are among the highest in the nation, so budget accordingly.

2. How competitive is the job market for entry-level analysts?
It’s moderately competitive. The 184 jobs in the metro are for all experience levels. To stand out for entry-level roles, highlight internships (especially with any of the major local employers), proficiency in advanced Excel (PivotTables, VLOOKUP), and any experience with data visualization tools. Applying directly on company career pages is often more effective than general job boards.

3. Is an MBA worth it in the Livonia market?
It can be, but it’s not always necessary. For climbing the corporate ladder at local giants like Ford or Stellantis, an MBA (especially from a respected program like Michigan Ross) can be a significant advantage for director-level and above positions. However, for many senior analyst and manager roles, experience and certifications (CFA/CPA) are equally valued. Evaluate the return on investment carefully.

4. What’s the networking scene like?
It’s more subdued than in a major financial center but effective. The Detroit Regional Chamber hosts frequent events. There are active CFA Society Detroit and Michigan Association of CPAs chapters. LinkedIn is crucial for connecting with alumni from your university who work in the area. Don’t underestimate the power of a casual coffee meeting—Detroit-area professionals are generally open to it.

5. How does the auto industry health affect banking and finance jobs?
It has a ripple effect. When the auto industry is strong, it boosts ancillary sectors (suppliers, logistics, retail), leading to more financial analyst jobs in those areas. It also increases consumer spending. Conversely, a downturn can slow hiring. However, the diversification into healthcare, tech, and professional services in Metro Detroit has provided a buffer. Most analyst roles today are in stable, non-cyclical industries like healthcare and consumer goods.