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salary information

Salary Information for a Financial Analyst in Detroit, MI

Median salary:

This data reflects Total Cash for a Level 1 Financial Analyst at a mid-size company. To get more detailed information on total compensation for the role of Financial Analyst in Detroit, MI, including base pay, total cash, and equity by job level, region and company size, please join OpenComp.

25th percentile
50th percentile
75th percentile

Behind the numbers

What is the adjusted total comp for a Financial Analyst in Detroit, MI?

Total Comp (TC)
Cost of Living (COL) Index
COL-Adjusted TC
Median Home Price

64

Total Comp (TC)

Cost of Living (COL) Index
64
COL-Adjusted TC

Median Home Price

What are the responsibilities of a Financial Analyst in Detroit, MI?

Provide analytical, forecasting, reporting, and project support to senior management. Produce monthly reports, which include key metrics, financial results, and variance reporting

What are the characteristics of a level 1 Financial Analyst?

A level 1 Financial Analyst in Detroit, MI is a developing professional and technical expertise. They are able to resolve routine issues and problems and have an average of 1 year of work experience.

Financial Analyst

Benchmark Role

Individual Contributor

Job Type

Finance

Job Family

Business

Job Area

Quality of Life in Detroit, MI on a $65,760 Salary

Cost of Living

  • Overall Affordability: Detroit's cost of living is generally lower than the national average, making it a relatively affordable city to live in.
  • Utilities and Essentials: Residents often find utility and essential services costs such as electricity, gas, and groceries to be moderate.
  • Transportation: Public transportation options are available, but many residents rely on personal vehicles, which can add to transportation expenses.

Housing Market

  • Home Prices: Housing prices in Detroit are significantly lower compared to the broader United States. The median home price in Detroit offers more affordability than many major cities.
  • Rental Options: There is a variety of rental properties, from apartments to houses, at affordable rates, though prices may vary based on the neighborhood.

Quality of Life

  • Community and Culture: Detroit offers a rich cultural scene with museums, music, and culinary experiences rooted in its diverse community.
  • Safety Concerns: Some areas of Detroit face higher crime rates, which residents need to consider when choosing where to live.

Access to Healthcare

  • Healthcare Facilities: Detroit has several reputable hospitals and healthcare providers, giving residents access to necessary medical services.
  • Access Challenges: While services are available, the quality and accessibility of healthcare can vary across different neighborhoods.

Quality of K-12 Schools

  • Educational Quality: The quality of K-12 education in Detroit is mixed, with some schools performing well and others facing challenges.
  • Options for Education: Families often explore public, private, and charter schools to find the best fit for their children.

Summary

Living in Detroit with an annual salary of $65,760 generally provides a comfortable quality of life when considering the city's relatively low cost of living. Housing is more affordable than in many other parts of the United States, though residents should be mindful of neighborhood safety and the variability in school quality. Access to culture and healthcare contribute positively to the quality of life, despite some disparities in services across the city.

See salary information for the Financial Analyst role elsewhere in the United States

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OpenComp aggregates multiple data sources to provide accurate salary data for Detroit, MI, specifically for a Level 1 Financial Analyst. The primary source is real-time, crowd-sourced salary information collected through direct integrations with hundreds of customer-connected HRIS platforms.

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