Here is a comprehensive career guide for Financial Analysts considering a move to Racine, Wisconsin.

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A Financial Analyst’s Guide to Racine, Wisconsin: Salaries, Employers, and Lifestyle

Racine isn’t the first city that comes to mind for a finance career—Milwaukee and Chicago loom large just to the north and south. But for a Financial Analyst looking for a lower cost of living, a tight-knit professional network, and a surprisingly diverse industrial base, Racine is worth a serious look. I’ve lived in this region for over a decade, and I’ve watched the local economy shift from old-school manufacturing to a more complex mix of healthcare, logistics, and specialty manufacturing. This guide is built on that local knowledge, combined with hard data to help you decide if Racine is the right move for your career.

The Salary Picture: Where Racine Stands

Let’s start with the numbers. In Racine, the compensation for a Financial Analyst is slightly below the national average, but the cost of living more than makes up for it. According to recent Bureau of Labor Statistics (BLS) data and local wage surveys, the financial landscape looks like this:

• Median Salary: $97,524/year
• Hourly Rate: $46.89/hour
• National Average: $99,010/year
• Jobs in Metro: 153
• 10-Year Job Growth: 9%

While the national average is marginally higher, the 9% job growth in the Racine metro area is a critical data point. It signals a growing demand for analytical talent, especially as local companies modernize their operations. The 153 active jobs in the metro area (which includes Kenosha) might seem small compared to Chicago, but it translates to a less saturated market where you can stand out more quickly.

Experience-Level Breakdown

Experience Level	Typical Years	Salary Range (Estimated)
Entry-Level	0-2	$70,000 - $85,000
Mid-Career	3-7	$90,000 - $110,000
Senior	8-15	$115,000 - $135,000
Expert/Manager	15+	$140,000+

Note: These ranges are based on the local median salary of $97,524 and typical industry progression.

Comparison to Other Wisconsin Cities

How does Racine stack up against its in-state rivals?

City	Median Salary	Cost of Living Index	Key Industries
Racine	$97,524	95.0	Manufacturing, Healthcare, Logistics
Milwaukee	$102,000	98.2	Finance, Healthcare, Beer & Brats
Madison	$105,500	102.5	Government, Tech, Healthcare
Green Bay	$94,000	91.0	Paper, Food Processing, Sports

Racine offers a compelling balance. While Milwaukee and Madison pay more, their cost of living is also higher. Green Bay is cheaper but has a smaller, more traditional job market. Racine sits in a sweet spot: you get a solid salary, a lower cost of living, and access to the Chicago-Milwaukee corridor without the brutal commute.

The Real Take-Home: After Taxes and Rent

A salary of $97,524 sounds good, but what does it actually mean for your monthly budget? Let's break it down for a single person filing as Head of Household (a common filing status for single professionals with dependents, but we'll use standard single for simplicity).

Assumptions:

• Gross Annual Salary: $97,524
• Federal Tax (est.): ~$18,500
• State Tax (WI, 3.5-5% bracket): ~$4,800
• FICA (7.65%): ~$7,460
• Other (Health Ins., 401k 5%): ~$12,000
• Estimated Net Pay (Take-Home): ~$54,764/year or $4,564/month

Monthly Budget Breakdown

Category	Allocation	Notes
Rent (1BR)	$842	City average
Utilities	$150	Includes electric, gas, internet
Groceries	$400	Midwest prices are reasonable
Transportation	$300	Gas, insurance, maintenance (car is needed)
Entertainment/Dining	$300	Racine's lakefront and Chicago access
Savings/Investing	$1,200	Aggressive savings rate
Miscellaneous	$372	Buffer for clothes, personal care, etc.
Total	$3,564	Leaves ~$1,000/month surplus

Insider Tip: This budget assumes you have no major debt (student loans, credit cards). Racine’s lower rent is your biggest asset here. You can realistically save $1,000+ per month on this salary, which is a powerful wealth-building tool.

Can They Afford to Buy a Home?

Yes, absolutely. The median home price in Racine County is around $280,000. With a $97,524 salary and a 20% down payment ($56,000), you would be looking at a monthly mortgage payment (including taxes and insurance) of roughly $1,800-$1,900. This is well within the recommended 28% of gross income (~$2,275/month). Homeownership is very attainable in Racine on a financial analyst’s salary, a stark contrast to the "live to work" markets of Milwaukee or Chicago.

Where the Jobs Are: Racine's Major Employers

The job market here is dominated by a mix of legacy manufacturing, modern healthcare, and regional logistics. The "153 jobs" figure can be misleading; many of these are with private companies not always listed on public boards. Here are the key players:

1. SC Johnson (Glenview, IL HQ, but massive Racine presence): The name behind Ziploc, Scrubbing Bubbles, and Raid. Their global headquarters is in nearby Glenview, but their operational heart—with multiple plant and R&D facilities—is in Racine. They hire financial analysts for cost accounting, plant budgeting, and corporate finance. Hiring trends are stable, with a focus on sustainability and supply chain finance.

2. Racine County (Government): The county government is a major, stable employer. Financial analysts here work on public sector budgeting, grant management, and financial reporting for departments like the Racine County Zoo, the sheriff's office, and public works. The hiring process is slow but offers incredible job security and pensions.

3. Aurora Health Care (now Advocate Aurora Health): With a major medical center in Racine, this healthcare giant needs financial analysts for hospital revenue cycle management, departmental budgeting, and strategic financial planning. The healthcare sector is growing, and analyst roles here often come with strong benefits and a clear path to management.

4. Modine Manufacturing: A global leader in thermal management (think vehicle cooling systems and HVAC). Their Racine facility is a key plant. Financial analysts here focus on plant-level P&L, capital expenditure analysis, and inventory management. This is a classic industrial manufacturing role that values lean principles and cost-control expertise.

5. Racine Unified School District: One of the largest school districts in Wisconsin. The finance department hires analysts for budgeting, forecasting, and financial compliance for a multi-million-dollar annual budget. It's a public sector role with a strong work-life balance.

6. Logistics & Distribution Hubs: Racine’s location between Milwaukee and Chicago makes it a logistics hotspot. Companies like Milwaukee Tool (has a significant presence) and various third-party logistics (3PL) firms hire analysts to manage supply chain costs, warehouse budgeting, and transportation finance.

Insider Tip: Don’t just look for "Financial Analyst" titles. In Racine, you’ll find titles like Cost Analyst (manufacturing), Budget Analyst (public sector), and Revenue Cycle Analyst (healthcare). The core skills are the same, and the local market values industry-specific knowledge.

Getting Licensed in WI

For a Financial Analyst, the primary license is the Series 7 & 63 (if you're selling securities) or, more commonly, the CFA (Chartered Financial Analyst) or CPA (Certified Public Accountant) credential. Wisconsin does not have a state-specific "financial analyst" license.

• CFA Charter: Administered by the CFA Institute. You need a bachelor's degree (or be in your final year) and 4,000 hours of qualified work experience. The exam consists of three levels. Total cost for all three levels is approximately $2,500 - $3,500 (including registration fees and study materials). The timeline is typically 2-3 years from start to finish.
• CPA Certification: Managed by the Wisconsin Department of Safety and Professional Services (DSPS). Requirements include 150 college credit hours (30 more than a standard bachelor's), passing the Uniform CPA Exam (4 parts), and one year of accounting experience. Total exam fees are around $1,500. The timeline is 1-2 years after graduation.
• WI Securities License: To sell securities in Wisconsin, you must register with the Wisconsin Department of Financial Institutions (DFI). This is typically handled by your employing broker-dealer. The study prep and exams (Series 7, 63, etc.) are the same as the national standard.

Actionable Step: Start by checking your academic credits against the CPA requirement if that’s your path. For the CFA, you can begin your studies immediately. Both credentials are highly respected in the Racine area, especially for senior roles.

Best Neighborhoods for Financial Analysts

Racine is a city of distinct neighborhoods. Your choice will depend on your commute, lifestyle, and budget.

1. Downtown Racine: Urban, Walkable, Lakefront.

   • Vibe: Historic loft living, coffee shops, lakeside paths. You can walk to the lake, festivals, and the best restaurants. A 10-minute drive to SC Johnson or the county courthouse.
   • Rent (1BR): $900 - $1,200
   • Best For: Young professionals who want an active, social lifestyle.

2. Mount Pleasant (West of I-41): Suburban, Modern, Family-Oriented.

   • Vibe: This is where most new development is happening. Big-box stores, newer apartment complexes, and quiet, tree-lined streets. Home to the Racine Zoo and major retail centers. A 15-20 minute commute to downtown employers.
   • Rent (1BR): $950 - $1,300
   • Best For: Analysts who want modern amenities, space, and good schools.

3. North Bay (Lakefront, North of Downtown): Established, Quiet, Scenic.

   • Vibe: Older, well-maintained homes and apartments with stunning views of Lake Michigan. It's quieter than downtown but still close to amenities. 10-15 minute commute.
   • Rent (1BR): $800 - $1,050
   • Best For: Those who prioritize a peaceful setting and lake views without the downtown hustle.

4. West Racine: Historic, Diverse, Affordable.

   • Vibe: A mix of historic homes, older apartment buildings, and a strong sense of community. It's more affordable but can be hit-or-miss block-by-block. A 10-15 minute commute to most jobs.
   • Rent (1BR): $700 - $900
   • Best For: Budget-conscious analysts who don't mind a more eclectic, urban feel.

5. Sturtevant: Bedroom Community, Very Commuter-Friendly.

   • Vibe: Technically a separate village, but part of the Racine metro. It's a quiet, residential area with quick access to I-94 for commuting to Milwaukee or Chicago. 20-25 minutes to Racine jobs, but 35-45 minutes to Milwaukee.
   • Rent (1BR): $850 - $1,100
   • Best For: Analysts who might work in Racine but want an easy jump to Milwaukee's job market.

The Long Game: Career Growth

In Racine, career growth isn't about hopping between Wall Street firms. It's about deepening your expertise in a specific local industry. The 10-year job growth of 9% indicates steady opportunities.

• Specialty Premiums: You can expect a salary premium for knowledge in:

  • Manufacturing Cost Accounting: Expertise in lean manufacturing and inventory management (SC Johnson, Modine).
  • Healthcare Revenue Cycle: Deep knowledge of insurance billing, Medicare/Medicaid reimbursement (Aurora).
  • Public Sector Finance: Understanding of municipal bonds, grant compliance, and public budgeting (County, School District).

• Advancement Paths: The typical path is Analyst -> Senior Analyst -> Finance Manager -> Director of Finance. In Racine, you often move laterally into a different industry (e.g., from manufacturing to healthcare) to gain broader experience. The "expert" level often involves managing a team or a major division.

• 10-Year Outlook: The manufacturing base is shifting towards advanced manufacturing and automation. This will create demand for analysts who can work with new financial models and data analytics tools. The healthcare sector will continue to grow as the population ages. Logistics will remain strong due to Racine's geographic advantage.

The Verdict: Is Racine Right for You?

Pros	Cons
Cost of Living: 5% below national average. Rent and home prices are very affordable.	Limited High-End Finance: No major investment banks or corporate HQs. Career ceiling can be lower than in Chicago/Milwaukee.
Job Security: Stable base of essential industries (healthcare, logistics, government).	Smaller Network: Professional circles are tighter. You must be proactive to network outside your immediate company.
Commute: Easy, 15-25 minute commutes within the metro. Easy access to Chicago/Milwaukee for weekends.	Cultural Scene: Smaller, less diverse than major metros. Fewer professional events and conferences.
Work-Life Balance: Less pressure than major financial centers. Strong emphasis on community and family.	Weather: Harsh, cold winters and humid summers. This is a true four-season climate.
Home Ownership: Highly attainable on an analyst's salary.	Transit: Public transportation is limited; a car is a necessity.

Final Recommendation: Racine is an excellent choice for a mid-career Financial Analyst (5-10 years of experience) who is looking to maximize their income-to-cost ratio, own a home, and enjoy a balanced, community-focused lifestyle. It's ideal if you have a family or are planning to start one. It's less ideal for a fresh graduate seeking the fast-paced, high-risk/high-reward culture of a major financial hub, or for someone who relies on public transit. For the right person, Racine offers a rare combination of financial stability and quality of life.

FAQs

Q: Do I need a car in Racine?
A: Yes. The city is spread out, and public transportation (Racine Metro Transit) is limited. While you can live and work in downtown without a car, for full access to neighborhoods, employers, and recreational areas, a car is essential.

Q: How far is Racine from Milwaukee and Chicago?
A: Racine is about 25 miles (30-40 minutes drive) north of the Illinois border and 50 miles (1 hour drive) from downtown Milwaukee. It's directly on the Metra Milwaukee District North Line, offering a reliable train commute to Chicago's downtown (Union Station) in about 1.5 hours.

Q: What is the job market like for spousal partners in Racine?
A: The market is mixed. Healthcare, education, and logistics offer good opportunities for partners. However, if your partner is in tech, publishing, or a highly specialized field, they may need to commute to Milwaukee or Chicago. This is a key consideration for dual-income households.

Q: How do I find jobs that aren't listed on national boards?
A: Network locally. Join the Racine County Chamber of Commerce or attend events hosted by the Wisconsin Institute of Certified Public Accountants (WICPA) Milwaukee chapter. Many local manufacturing and healthcare finance roles are filled through referrals. Also, check the "Careers" pages directly on the websites of SC Johnson, Aurora, and the Racine County government.

Q: Is the cost of living really that low?
A: Yes, but with a caveat. Housing and groceries are significantly cheaper. However, utilities (especially winter heating) and car insurance (Wisconsin has high rates) can be higher than in some other states. The Cost of Living Index of 95.0 means your $100,000 salary in Racine feels like $105,000 nationally—a tangible benefit.