Why is the BEA RPP for Minnesota different from a single CPI number?

BEA splits regional price parity into three components — goods, services, and rents — reweighted to the BEA's national consumption basket. Minnesota's overall index of 98.3 reflects rents 90.7, services 89.4, and goods 102.1.

Where does Minnesota rank for Financial Analyst pay?

On nominal BLS wages alone, Minnesota ranks among the 51 states and DC by median pay. After the BEA cost-of-living adjustment the ordering changes — high-cost states fall, low-cost states rise. Both rankings are shown in the data table on this page.

Is Minnesota a 'real-wage arbitrage' state for Financial Analysts?

No — Minnesota's RPP is close to the national 100 baseline, so nominal and real wages move roughly together. Neither an arbitrage nor a penalty state.

When does this data update?

BLS OES releases a new May reference set roughly each spring; we re-run the ETL pipeline within two weeks of release. BEA RPP refreshes annually. The last-synced timestamp at the top of this page reflects the most recent build.

Does BLS financial analyst pay in Minnesota include investment-banking bonuses?

BLS OEWS captures W-2 wage and salary income — which includes annual cash bonuses paid through payroll. So sell-side IB analyst-level bonuses, equity-research bonuses, and FP&A annual incentives all show up in the BLS figure. What's NOT included: deferred stock, unvested RSU grants, partnership distributions to senior associates and above, and post-tax-year 'true-up' bonuses paid through 1099. In Minnesota, this means BLS reasonably represents junior analyst total comp but increasingly understates senior comp once equity becomes a meaningful share — gap widens at the P90 band.

Buy-side vs sell-side vs corporate finance analyst pay in Minnesota?

BLS aggregates SOC 13-2051 (Financial and Investment Analysts) without segmenting by sector. In Minnesota, buy-side roles at hedge funds, asset managers, and private equity firms typically lead on total comp at every level — bonus carry / performance fees can dwarf base. Sell-side investment banking analysts in Minnesota earn high cash comp but with steep hours; equity research mid-band; corporate finance / FP&A analysts earn the lowest among financial-analyst-track roles but with the most predictable hours. The Minnesota BLS median primarily reflects the corporate / FP&A end of the band; high-finance-cluster cities show much higher P90s as a result.

Does CFA charterholder status raise financial analyst pay in Minnesota?

CFA Institute survey data and industry comp reports typically show a 10-20% pay premium for CFA charterholders over non-charterholders at comparable seniority — though the causal share (vs. selection effect: higher-track analysts pursue CFA) is debated. In Minnesota, the CFA premium is largest in equity research, portfolio management, and credit analysis roles where the credential is functionally required at the senior level; in IB and corporate finance the premium is smaller and substitutable with MBA. The 4-year, three-exam CFA path costs $3-5K in fees and 900-1,000 study hours, so the realized ROI in Minnesota depends heavily on whether the role values the credential for promotion vs. just hiring.

Minnesota Financial Analyst Salary: BLS $103K Median, Real $105K (2026)

TL;DR

$102,800 is the BLS median wage for Financial Analysts in Minnesota; $104,576 is the BEA-adjusted purchasing-power equivalent.
Cost adjustment is small — neither an arbitrage state nor a high-cost penalty.
P25-P75 spread runs $80,330 to $127,410; P10 floor $66,730, P90 ceiling $161,340.
On a real-wage basis, this state sits at #6 of 51; nominal rank is #10.

Wage breakdown — Minnesota

Percentile	Nominal (BLS)	Real (BEA RPP-adjusted)
P10 (entry tier)	$66,730	$67,883
P25 (lower quartile)	$80,330	$81,718
P50 (median)	$102,800	$104,576
P75 (upper quartile)	$127,410	$129,611
P90 (top tier)	$161,340	$164,127
Mean	$108,230	$110,099
Employment	6,690 Financial Analysts in Minnesota

Cost of living — BEA Regional Price Parity

Component	Minnesota index (US = 100)
All-items RPP	98.3
Goods	102.1
Services	89.4
Rents	90.7

Minnesota's overall RPP (98.3) is close to the national 100 baseline; nominal and real wage move roughly together.

After-tax take-home — Minnesota (2024 BLS · 2024 tax year, single filer)

Layer-by-layer take-home math at the BLS median

Layer	Amount	Note
Gross BLS P50 (Financial Analyst)	$102,800	nominal median
Federal income tax	−$13,863	13.5% effective; std deduction $15,750 applied
State income tax	−$5,540	5.35–9.85% (graduated)
FICA (SS 6.2% + Medicare 1.45%)	−$7,864	SS capped at $183,600 wage base
Take-home (after-tax)	$75,533	73.5% of gross
Real take-home (RPP-adjusted)	$76,838	÷ (98.3 / 100) BEA cost-of-living

What the Minnesota state-tax burden means for Financial Analyst take-home

Mid-band state-tax burden at 5.4% effective. Combined with federal and FICA, take-home is $75,533 (73.5% of gross). After the 98.3 RPP, real take-home is $76,838.

Computed from 2026 IRS federal brackets (Rev. Proc. 2025-32), 2026 state DOR brackets, and 2026 FICA rates. Single filer, standard deduction, no other adjustments. See methodology · tax for limitations (married filers, ITM/SALT itemizers, retirement deferrals, HSA, dependent credits, etc.).

National context

Across the United States, BLS reports a national median of $101,350 for Financial Analysts with mean pay of $116,490 and total employment of 340,580. Minnesota sits at #10 on nominal pay and #6 on real (cost-adjusted) pay among the 51 states and DC. After cost adjustment, Minnesota climbs 4 positions — the cost of living is favorable relative to the wage.

Frequently asked questions

Why is the BEA RPP for Minnesota different from a single CPI number?: BEA splits regional price parity into three components — goods, services, and rents — reweighted to the BEA's national consumption basket. Minnesota's overall index of 98.3 reflects rents 90.7, services 89.4, and goods 102.1.
Where does Minnesota rank for Financial Analyst pay?: On nominal BLS wages alone, Minnesota ranks among the 51 states and DC by median pay. After the BEA cost-of-living adjustment the ordering changes — high-cost states fall, low-cost states rise. Both rankings are shown in the data table on this page.
Is Minnesota a 'real-wage arbitrage' state for Financial Analysts?: No — Minnesota's RPP is close to the national 100 baseline, so nominal and real wages move roughly together. Neither an arbitrage nor a penalty state.
When does this data update?: BLS OES releases a new May reference set roughly each spring; we re-run the ETL pipeline within two weeks of release. BEA RPP refreshes annually. The last-synced timestamp at the top of this page reflects the most recent build.
Does BLS financial analyst pay in Minnesota include investment-banking bonuses?: BLS OEWS captures W-2 wage and salary income — which includes annual cash bonuses paid through payroll. So sell-side IB analyst-level bonuses, equity-research bonuses, and FP&A annual incentives all show up in the BLS figure. What's NOT included: deferred stock, unvested RSU grants, partnership distributions to senior associates and above, and post-tax-year 'true-up' bonuses paid through 1099. In Minnesota, this means BLS reasonably represents junior analyst total comp but increasingly understates senior comp once equity becomes a meaningful share — gap widens at the P90 band.
Buy-side vs sell-side vs corporate finance analyst pay in Minnesota?: BLS aggregates SOC 13-2051 (Financial and Investment Analysts) without segmenting by sector. In Minnesota, buy-side roles at hedge funds, asset managers, and private equity firms typically lead on total comp at every level — bonus carry / performance fees can dwarf base. Sell-side investment banking analysts in Minnesota earn high cash comp but with steep hours; equity research mid-band; corporate finance / FP&A analysts earn the lowest among financial-analyst-track roles but with the most predictable hours. The Minnesota BLS median primarily reflects the corporate / FP&A end of the band; high-finance-cluster cities show much higher P90s as a result.
Does CFA charterholder status raise financial analyst pay in Minnesota?: CFA Institute survey data and industry comp reports typically show a 10-20% pay premium for CFA charterholders over non-charterholders at comparable seniority — though the causal share (vs. selection effect: higher-track analysts pursue CFA) is debated. In Minnesota, the CFA premium is largest in equity research, portfolio management, and credit analysis roles where the credential is functionally required at the senior level; in IB and corporate finance the premium is smaller and substitutable with MBA. The 4-year, three-exam CFA path costs $3-5K in fees and 900-1,000 study hours, so the realized ROI in Minnesota depends heavily on whether the role values the credential for promotion vs. just hiring.

Sources & methodology

U.S. Bureau of Labor Statistics — Occupational Employment and Wage Statistics (OES), SOC 13-2051, 2024 reference period.
U.S. Bureau of Economic Analysis — Regional Price Parities, 2023 vintage (all-items, goods, services, rents).
Real-wage figures = nominal BLS wage ÷ (state RPP / 100).
See the methodology page for full computation details and limitations.

By Marcus Liang · Founder & Editor · Last synced 2026-05-05.

Cross-comparison: see how Minnesota Financial Analyst pay ranks against the other 254 state × occupation pages on the Real Wage Atlas → — four-way ranking by real wage, after-tax take-home, state-tax savings, and cost-of-living arbitrage.