If you are hiring financial analysts in Philadelphia, offering an attractive compensation package can work in your favor. Not only will this help to attract the best financial and accounting staff to your firm, but it can result in above average productivity that ultimately means more revenues generated. Financial analyst salaries can vary somewhat depending on the type of responsibilities and tasks that each individual will perform, and the level of experience each candidate has; but as a general rule, these rates will stay within a certain median range.
Financial Analyst Salary and Compensation in Philadelphia, PA
According to several sources, including Payscale, Glassdoor and the PA Department of Labor and Statistics, here is what you will want to offer to financial analysts in Philadelphia.
Glassdoor advises that financial analysts in Philadelphia earn around $53,561 annually, which is just below the national average of $60,000 per year. Large firms like JP Morgan, Exelon Generation, Inc., Dow Chemical and Graham Partners offer more than other companies with salary rates, topping out at $97,000. Companies that are largely affiliated with high growth industries are likely to offer more to financial analyst candidates in Philadelphia because they need great people to maintain their financials.
Payscale, one of the most accurate sources of compensation data nationwide, advises that financial analysts in Philadelphia earn around $71,524 per year at the Senior level. Taking into consideration that financial analysts also benefit from other types of compensation, such as profit sharing and performance bonuses – earnings can be as much as $93,395 annually. Payscale also advises that, “For the first five to ten years in this position, pay increases somewhat, but any additional experience does not have a big effect on pay.”
In PA, the US Department of Labor – Bureau of Labor Statistics provides career outlook as well as salary data for financial analysts who work in Philadelphia. As a whole, financial analysts with at least 2-5 years of experience can expect to earn $91,620 per year. The growth for this type of work is around 1.3% which is average. In Philadelphia, the high number of financial firms means many more jobs for candidates, adding to the competition for the best jobs – and this can be leveraged in your business favor.
Offering Something More to Recruit the Best Financial Analysts
To offer more than the competitors in the financial market, in addition to a great salary, offer employee perks such as flexible scheduling, educational support, corporate wellness programs, and generous vacation and time off incentives.
Work with a qualified financial staffing firm like Magellan Search and Staffing to screen candidates and negotiate salary packages to get the most from your recruitment efforts. If you are looking for financial analyst jobs in Philadelphia, contact our team today.