Financial Analyst Career Guide: Fall River, MA

As someone who’s watched Fall River’s economy shift from textile mills to a more diverse service and healthcare base, I can tell you this city offers a unique value proposition for financial analysts. It’s not Boston, and that’s the point. You get coastal New England living without the astronomical costs, while still having access to solid employers and a manageable commute to both Boston and Providence. Let’s break down what your career and life would actually look like here.

The Salary Picture: Where Fall River Stands

The financial analyst role in Fall River sits in an interesting position. It’s above the national average but below the state’s inflated median, reflecting the city’s lower cost of living and its position as a regional hub rather than a global financial center.

Let’s look at the numbers. The median salary for a Financial Analyst in Fall River is $99,277 per year, which breaks down to an hourly rate of $47.73. This is marginally higher than the national average of $99,010, but it’s important to contextualize this within Massachusetts. A financial analyst in Boston or Cambridge can command a salary 20-30% higher, but their living costs will be 50% higher. For a professional looking to maximize savings or quality of life, Fall River’s numbers are compelling.

Experience-Level Breakdown

Salaries here scale predictably with experience. The local market isn’t as volatile as major metros, so your growth is steady if you’re proactive.

Experience Level	Typical Years	Estimated Salary Range (Fall River)	Key Responsibilities
Entry-Level	0-2	$65,000 - $82,000	Data aggregation, basic modeling, report generation
Mid-Level	3-7	$85,000 - $110,000	FP&A, budgeting, variance analysis, cross-functional support
Senior	8-12	$115,000 - $140,000	Strategic planning, M&A support, leading projects, mentoring
Expert/Manager	12+	$145,000+	Department leadership, CFO partnership, complex modeling

Comparison to Other MA Cities

Fall River isn’t the top earner in the state, but it offers the best salary-to-cost ratio for analysts. Boston is for those chasing the absolute peak, while Worcester and Springfield offer similar cost savings but with fewer large employers.

City	Median Salary (Est.)	Cost of Living Index (US Avg=100)	Key Advantage
Fall River	$99,277	100.9	Best balance of salary & affordability
Boston	$115,000+	162.3	Highest salary ceiling, vast networking
Worcester	$95,000	107.8	Central MA hub, lower rent than Boston
Springfield	$93,000	99.1	Very low cost of living, but fewer analyst roles

Insider Tip: Don’t just focus on base salary. Fall River employers often have strong benefits packages, including local hospital network access (Southcoast Health) and proximity to Cape Cod for vacation homes—a tangible quality-of-life perk.

The Real Take-Home: After Taxes and Rent

A median salary of $99,277 sounds robust, but your take-home is what matters. Let’s run a realistic monthly budget for a single financial analyst in Fall River. We’ll assume a standard tax filing (single, no dependents) and use the local average 1BR rent of $1,398/month.

Monthly Budget Breakdown for a Financial Analyst Earning $99,277:

• Gross Monthly Income: $8,273
• Estimated Deductions (Fed/State Tax, FICA): ~$2,400
• Net Monthly Income (Take-Home): ~$5,873
• Housing (1BR in city center): -$1,398
• Utilities (Electric, Gas, Internet): -$200
• Car Payment & Insurance (Essential in FR): -$500
• Groceries & Household: -$400
• Health Insurance (Employer-subsidized): -$250
• Miscellaneous (Dining, Entertainment, Savings): -$1,000
• Remaining for Debt/Savings/Investment: $2,125

This budget leaves substantial room for savings and discretionary spending. The Cost of Living Index of 100.9 (slightly above the US average) is buffered by the lack of the extreme costs seen in Greater Boston.

Can they afford to buy a home? Absolutely. With $2,125/month in surplus, a substantial down payment can be saved in 2-3 years. The median home price in Fall River is approximately $375,000. A 20% down payment is $75,000. At your savings rate, that’s achievable. Your mortgage payment on a $300,000 loan (~$1,800/month) would still be manageable on your take-home pay, especially if you pair up with another professional.

Where the Jobs Are: Fall River's Major Employers

The job market here is stable, if not explosive. The 10-year job growth for financial analysts in the metro area is 9%, which is steady and reliable. There are approximately 187 financial analyst jobs in the Fall River metro area at any given time. Here’s where you’ll find them:

1. Southcoast Health System: The largest private employer in the region. They have a robust internal finance department for budgeting, forecasting, and managing the financial health of their hospitals (including Charlton Memorial in Fall River and St. Luke’s in New Bedford). Hiring is consistent, especially for those with healthcare finance experience.
2. Bristol Community College: As a public institution, their finance office handles state budgets, grants, and long-term planning. These roles offer great job security and benefits, though salaries may be at the lower end of the spectrum.
3. The City of Fall River: Municipal finance is a major employer. Analysts here work on budgeting for public works, public safety, and education. It requires patience with bureaucracy but offers ironclad stability.
4. Manufacturing & Marine Industries: Companies like Bay State Milling (though headquartered elsewhere, they have significant local operations) and various marine supply companies need cost accountants and financial analysts to manage supply chain costs and profitability.
5. Local Banks & Credit Unions: BankFive and Bristol County Savings Bank are headquartered here. They hire analysts for commercial lending, risk assessment, and branch profitability analysis. This is a great entry point.
6. Proximity to Providence & Boston: Many Fall River residents commute to CVS Health (HQ in Woonsocket, RI) or Raytheon Technologies (Tewksbury, MA). While not in Fall River, these are major employers within a 45-60 minute commute, expanding your opportunities.

Hiring Trends: The trend is toward hybrid roles. Employers want analysts who can not only crunch numbers but also communicate findings to non-finance departments (like hospital administrators or school superintendents). Proficiency in Excel is a baseline; experience with ERP systems (like Workday or Oracle) and data visualization tools (Tableau, Power BI) is a significant differentiator.

Getting Licensed in MA

For most corporate financial analyst roles, you do not need a state-issued license. However, if you plan to advance into wealth management, securities analysis, or provide investment advice, you will need specific certifications. The Massachusetts Division of Banks and the Securities and Exchange Commission (SEC) regulate these.

• Series 7 (General Securities Representative): Allows you to trade most securities. Requires a sponsor (an employing broker-dealer) and passing the exam. Cost: ~$80 for the exam, plus exam prep courses ($200-$500).
• Series 63 (Uniform Securities Agent State Law Exam): Covers state-specific regulations. Often taken alongside the Series 7. Cost: ~$78.
• Certified Financial Analyst (CFA): This is a global, not state, credential but is highly respected. It’s a three-level exam process. Total cost (exam fees, study materials): $2,500 - $3,500. Timeline: 3-5 years to complete all three levels.

Timeline to Get Started: For a corporate analyst, start with your bachelor’s degree (in Finance, Accounting, or Economics). You can begin applying for jobs immediately. If you’re eyeing a securities license, plan for 4-6 months of study and exam scheduling after you secure a sponsoring employer.

Insider Tip: In Fall River, having your CPA (Certified Public Accountant) license can sometimes be more valuable than a CFA, as it’s applicable to both corporate and public accounting roles, and many local firms (like DiPrete & Company) are CPA firms.

Best Neighborhoods for Financial Analysts

Where you live impacts your commute and lifestyle. Fall River is a compact city, but neighborhoods have distinct characters.

Neighborhood	Vibe & Commute	Estimated 1BR Rent	Why It's Good for Analysts
Downtown/Maplewood	Walkable, historic, near the BCC and government offices. Easy I-195 access.	$1,200 - $1,500	Best for walking to work (if employed by city/college). Central to everything.
The Highlands	Residential, quiet, single-family homes. 5-10 min drive to downtown.	$1,400 - $1,700	Great for young professionals wanting space. Safe, family-friendly.
North End	Near the Globe Manufacturing complex and the waterfront. More industrial feel.	$1,100 - $1,350	Lower cost, easy highway access for commuters to Providence.
Westport (Town)	Suburban, highly rated schools, more rural feel. 15-20 min commute.	$1,600 - $2,000	For those who want a true suburban home life with a short drive to the city.
South Main St. Corridor	Transitional, revitalizing area with new apartments and restaurants.	$1,250 - $1,550	Up-and-coming, modern amenities, very central.

Personal Insight: The Highlands is where many young professionals from Southcoast Health and BCC settle. You get a nice apartment or condo for less than $1,500, and you’re a 5-minute drive from the best local eateries and a 10-minute drive to Mount Hope Bay for a sunset walk.

The Long Game: Career Growth

Your growth in Fall River will be steady, but you must be intentional. The local market doesn’t have the same density of Fortune 500 HQs as Boston, so your advancement often comes from moving between employers or taking on more responsibility.

• Specialty Premiums: Certain niches command higher pay here:

  • Healthcare Finance: Analysts with experience in revenue cycle management or grant accounting can earn 10-15% above median.
  • Government/Non-Profit: While base may be lower, the benefits and pension (for municipal roles) are a form of long-term compensation.
  • Manufacturing/Cost Accounting: Expertise in inventory management and cost reduction can lead to controller roles.

• Advancement Path: A typical path is: Entry-Level Analyst (at a local bank or BCC) -> Mid-Level Analyst (at Southcoast Health) -> Senior Analyst/Manager (potentially at a larger regional firm or moving to a corporate role in Providence) -> Director/VP (often requiring a move to Boston or a remote role).

• 10-Year Outlook: The 9% job growth indicates stability. The rise of remote work is a double-edged sword. It allows you to compete for Boston/Providence salaries while living in Fall River, but it also means you’re competing with analysts nationwide. To stay competitive, focus on data science skills (Python, SQL) and strategic business partnering.

The Verdict: Is Fall River Right for You?

Pros	Cons
Excellent Salary-to-Cost Ratio: Your $99,277 goes much further here than in Boston.	Limited High-End Roles: Fewer VP and Director-level positions compared to major metros.
Manageable Commute & Traffic: You can often live near work, avoiding the soul-crushing traffic of I-93.	Smaller Professional Network: Fewer industry events and meetups. Requires effort to build connections.
Coastal Living & Proximity: Access to beaches, Cape Cod, and Narragansett Bay is a major lifestyle perk.	Economic Dependence: Reliant on a few major employers (healthcare, education, government).
Steady, Predictable Market: Job growth is stable, not boom-or-bust.	Slower Pace: The professional scene is less dynamic. Can feel stagnant for some.
Strong Sense of Community: Easier to become a known professional in the local business community.	Public Transit: Limited. A car is a near-necessity.

Final Recommendation: Fall River is an outstanding choice for financial analysts who prioritize work-life balance, affordability, and a strong sense of community. It’s ideal for early-to-mid-career professionals looking to build savings, purchase a home, and enjoy New England without the premium price tag. It’s less suitable for those seeking the fastest career ascent in high-finance or who thrive in a relentless, high-density corporate environment. If you value stability and a coastal lifestyle over chasing the absolute maximum salary, Fall River delivers compelling value.

FAQs

Q: Do I need a car to work as a financial analyst in Fall River?
A: Yes, virtually all analysts need a car. While some employers (like BCC or City Hall) are in walkable areas, most job sites are spread out. Public transit (BAT) exists but is limited for cross-town commutes. The cost of car ownership is baked into local budgets.

Q: How competitive is the job market for an outsider?
A: It’s moderately competitive. Having a local connection (e.g., attended UMass Dartmouth or BCC) can help, but it’s not a requirement. Employers value skills over geography. Having a clean record and strong references is critical in this tight-knit business community.

Q: Is Fall River a good place to start a family?
A: Yes, financially. The cost of living index of 100.9 and lower housing costs make it feasible to buy a home on a single analyst’s salary, which is nearly impossible in Boston. The school systems vary by neighborhood, with Westport and parts of Fall River having strong public options.

Q: What’s the biggest challenge for financial analysts here?
A: Career mobility. With a smaller pool of employers, you may need to be open to commuting to Providence (30-45 mins) or even Boston (60-90 mins) for more senior roles. Remote work has helped, but local face-time still matters for promotions.

Q: Can I live in Fall River and work remotely for a Boston company?
A: Absolutely. This is a growing trend and a secret to maximizing your income. You earn a Boston-area salary (often $110,000+) while enjoying Fall River’s lower costs. Just be prepared for occasional trips into the office and ensure your home internet setup is reliable.

Sources: Data aggregated from U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics, Massachusetts Executive Office of Labor and Workforce Development, Zillow Rental Data, and Cost of Living Index by Council for Community and Economic Research (C2ER). Salary figures are specific to the Fall River, MA Metropolitan Statistical Area.