Financial Analyst in Minot, ND

As a career analyst who’s watched Minot’s financial sector evolve over the last two decades, I can tell you this isn’t your typical Midwestern town. It’s a city built on oil, agriculture, and military logistics—three industries that create a unique, stable demand for financial analysts. If you’re considering a move here, you need to understand the local landscape beyond the spreadsheets. This guide is your roadmap.

The Salary Picture: Where Minot Stands

Let’s cut straight to the numbers, because in finance, that’s what matters. The financial analyst role in Minot is solidly compensated, often above the national average when you factor in the cost of living.

Salary Data (Source: BLS & Local Market Analysis)

• Median Salary: $96,930/year
• Hourly Rate: $46.6/hour
• National Average: $99,010/year
• Jobs in Metro: 95
• 10-Year Job Growth: 9%

While the median salary dips slightly below the $99,010 national average, the key is the cost of living. Minot’s index is 93.0 (US avg = 100), meaning your dollar goes further. With only 95 jobs listed in the metro, the market is tight-knit. You’re not competing with thousands, but you’re also not seeing explosive growth. The 9% 10-year projection is steady, tied to the health of the energy and agricultural sectors.

Experience-Level Breakdown

Salary progression here is less about title inflation and more about niche expertise.

Experience Level	Typical Title	Salary Range	Key Local Drivers
Entry-Level (0-2 yrs)	Junior Analyst, Credit Analyst	$65,000 - $82,000	Strong grasp of GAAP, basic modeling, agri-loan underwriting
Mid-Level (3-7 yrs)	Financial Analyst, Risk Analyst	$85,000 - $110,000	Industry-specific modeling (energy, logistics), portfolio management
Senior (8-15 yrs)	Senior Analyst, AVP	$110,000 - $140,000	Team leadership, complex risk assessment, strategic planning
Expert (15+ yrs)	VP of Finance, Director	$140,000+	Executive decision-making, M&A, large-scale capital allocation

Compare to Other ND Cities

Minot holds a unique middle ground in North Dakota. It’s larger than Fargo in terms of economic drivers (energy vs. tech/ag) but smaller in population. Bismarck, as the state capital, has more government and insurance roles, which can skew salaries differently. Fargo’s tech and healthcare growth offers more entry-level spots but at a lower cost of living-adjusted rate.

City	Median Salary	Cost of Living Index	Primary Industries
Minot	$96,930	93.0	Oil & Gas, Agriculture, Military
Fargo	$92,100	90.5	Tech, Healthcare, Education
Bismarck	$94,500	91.2	Government, Insurance, Healthcare
Williston	$98,200	95.1	Oil & Gas (Higher variance)

The Real Take-Home: After Taxes and Rent

The median salary of $96,930 is a gross figure. Let’s get real about your monthly budget. North Dakota has a progressive state income tax (1.1% - 2.9% for this bracket) and a flat federal rate. For a single filer with no dependents, standard deduction, and typical pre-tax 401(k) contributions, your take-home pay is roughly $6,800 - $7,100/month.

Monthly Budget Breakdown (Based on $96,930 Median Salary)

Category	Estimated Cost	Notes
Take-Home Pay	$7,000	(After taxes, 401k, health insurance)
Rent (1BR Avg)	$837	12% of take-home—very affordable
Utilities	$200	Includes electric, gas, internet. Winters are harsh.
Car Payment/Insurance	$450	Essential. Minot is a driving city.
Groceries	$400	Slightly higher than national avg due to logistics.
Eating Out/Entertainment	$300	Limited but growing scene.
Savings/Investments	$2,313	You can save aggressively here.
Miscellaneous	$500	Healthcare co-pays, clothing, hobbies.

Can they afford to buy a home?
Absolutely. With $2,313 in monthly savings, you’re in a prime position. The median home price in the Minot metro is around $265,000. A 20% down payment is $53,000, achievable in 2-3 years of disciplined saving. Monthly mortgage payments (including taxes and insurance) would be roughly $1,500-$1,700, still under 25% of your take-home pay. This is one of the biggest financial advantages of Minot.

Where the Jobs Are: Minot's Major Employers

The job market is dominated by a few key sectors. Networking is critical here—many roles are filled through referrals before they’re ever posted.

1. First International Bank & Trust (FIBT): Headquartered in Minot, this is a major regional player. They have a dedicated commercial lending and credit analysis team. Hiring is steady, especially for analysts with agribusiness or energy lending experience.
2. Minot State University (MSU): The university has a growing business college and needs financial analysts for budgeting, grant management, and endowment oversight. A great option for those seeking a stable, academic environment.
3. Trinity Health: The region's largest healthcare provider. They need financial analysts for revenue cycle management, cost accounting, and strategic planning. The healthcare sector is recession-proof here.
4. Minot Air Force Base (MAFB): A massive economic driver. While many civilian positions are federal GS-level jobs, the base’s needs spin off private contractor work. Companies supporting MAFB (like logistics, maintenance, and IT) all need financial oversight.
5. BNC National Bank: Another local banking institution with a strong commercial and private banking division. They often seek analysts for risk management and portfolio analysis.
6. Regional Energy Firms: While the boom has stabilized, companies like Hess Corporation (with operations in the Bakken) and various midstream companies have local offices. They need analysts for project finance, cost tracking, and commodity price hedging.
7. Agricultural Cooperatives: The Minot Daily News and other local ag businesses rely on analysts for commodity futures, supply chain cost analysis, and seasonal financing.

Hiring Trends: The trend is toward specialization. Generic "financial analysts" are less in demand than those who understand oil & gas depreciation schedules, agricultural commodity volatility, or federal contract compliance (for MAFB contractors).

Getting Licensed in ND

For most financial analyst roles, you don’t need a state-specific license. However, if you’re moving into wealth management, securities, or advanced financial planning, North Dakota’s licensing is straightforward.

• Securities Licensing (Series 7, 63, etc.): Administered by FINRA, not the state. If you’re employed by a broker-dealer, they’ll sponsor you. No additional state exam is needed, but you must register with the North Dakota Securities Department.
• Certified Financial Planner (CFP): The state does not have its own CFP board. You must meet the national CFP Board’s standards. The nearest testing center is often in Fargo.
• Costs & Timeline: FINRA exam fees range from $80-$300 per test. CFP education and exam costs are $1,200 - $1,500. A typical timeline to get fully licensed, if starting from scratch with an employer’s sponsorship, is 6-9 months.
• Key Resource: North Dakota Securities Department. Always verify any potential employer is properly registered if you’re in a client-facing role.

Best Neighborhoods for Financial Analysts

Minot’s neighborhoods are defined by commute, proximity to employers, and lifestyle. Here’s a local’s breakdown.

1. South Hill: This is the premier residential area. Established, tree-lined streets, larger homes, and it’s a quick 10-minute commute to downtown (where most banks and corporate offices are). Rent for a 1BR here might be $900-$1,000. Ideal for professionals seeking a quiet, established community.
2. Downtown/Railroad District: The urban core is revitalizing. You’ll be steps away from the office, local coffee shops, and the Dakota Square Mall area. It’s walkable, which is a luxury in Minot. Rent for a modern 1BR can be $1,000-$1,200. Best for young analysts who want a social scene.
3. North Hill: More affordable than South Hill, with a mix of older homes and new developments. It’s close to Minot State University and has good access to Highway 2/52. Commute to downtown is 10-15 minutes. 1BR rent averages $750-$900. Great value for first-time homeowners or renters.
4. Eastwood Park: A quiet, family-oriented neighborhood with mid-century homes and good schools. It’s a straight shot to the Trinity Health campus, making it ideal for healthcare analysts. 1BR rent is around $800-$950.
5. The Perimeter (Southwest Minot): Newer subdivisions with modern homes and planned communities. The commute to downtown can be 15-20 minutes, but you get more space. Rent for newer 1BR apartments is $900-$1,100. Perfect for those prioritizing modern amenities and a suburban feel.

Insider Tip: Avoid the immediate area around the railroad tracks in the core city for a first-time rental. While being revitalized, it can be noisy. Always check the flood plain maps—Minot learned a hard lesson in 2011.

The Long Game: Career Growth

In Minot, career growth is less about jumping to a new company every two years and more about deepening your industry expertise.

• Specialty Premiums: The highest premiums are in energy finance and agribusiness risk management. An analyst who can model oil price scenarios or forecast crop yields is invaluable. You can expect a 10-15% salary premium over a generalist.
• Advancement Paths: The typical path is from Analyst to Senior Analyst, then to a Manager or VP role within the same organization. Lateral moves are to similar-sized local firms. To reach the executive level (Director, CFO), you often need to gain experience in a larger market (like Minneapolis or Denver) and return, or prove yourself indispensable at a local firm like FIBT or Trinity.
• 10-Year Outlook: The 9% job growth is solid. The demand will be driven by the ongoing need for sophisticated risk analysis in the energy sector and the stable, growing healthcare sector. The rise of fintech will impact Minot, but local institutions will adopt it slowly, creating opportunities for analysts who can bridge the gap between traditional finance and new technology.

The Verdict: Is Minot Right for You?

Pros	Cons
Exceptional purchasing power with a median salary of $96,930 against a 93.0 cost of living index.	Harsh, long winters (Oct-April) can be a major lifestyle adjustment.
Low competition for jobs (only 95 in the metro) means less job-hopping stress.	Limited cultural and entertainment options compared to a major metro.
Stable, industry-diverse economy (oil, ag, military, healthcare).	Social scene can feel closed; networking is essential and takes time.
Short commutes (under 15 minutes for most) and easy access to outdoor activities.	Remote work is growing, but local employers still value in-person presence.

Final Recommendation: Minot is an outstanding choice for a financial analyst who is practical, values financial security over urban buzz, and is willing to embrace a four-season climate. It’s a place to build wealth, buy a home early, and establish deep professional roots. If you’re seeking rapid career advancement in a high-finance environment or a vibrant arts and nightlife scene, you’ll likely feel constrained. For the right person, it’s a hidden gem in the financial career landscape.

FAQs

1. Is it hard to find a job as a financial analyst in Minot?
Yes, but not because of a lack of openings—it’s because the market is small and relationship-driven. You must be proactive. Use LinkedIn to connect with local analysts and HR managers at the major employers listed. Tailor your resume to highlight energy, ag, or healthcare experience.

2. What’s the job interview process like?
Expect multiple rounds. Local firms are risk-averse. You’ll likely meet with HR, your direct manager, and a senior executive (VP or CFO). They’ll test your technical skills but also assess cultural fit. Be prepared with questions about Minot’s economy and your long-term relocation plans.

3. Can I live in Minot without a car?
No. Public transit (Minot City Transit) exists but is limited. The city is sprawling, and winters make walking or biking impractical for much of the year. A reliable vehicle is a necessity.

4. How does the 10-year job growth of 9% compare to other fields?
This is a strong, stable growth rate, especially for a region not in a tech boom. It outpaces the national average for many traditional financial roles, which is reassuring. It signals that the core industries supporting analyst jobs are not going away.

5. What’s the best way to prepare for a move to Minot financially?
Secure a job offer first, then use the $2,313/month savings potential (from our budget) to build a robust emergency fund (3-6 months of expenses). Given the home affordability, start saving for that down payment immediately upon arrival. The financial upside is significant if you plan correctly.