Financial Analyst Salary: Richmond, VA vs Boston, MA
BLS reports this occupation as "Financial and Investment Analysts" (13-2051); every figure on this page is for that BLS occupation.
Side-by-side comparison of wages and local price levels for Financial Analysts in Richmond, VA and Boston, MA, based on BLS OEWS May 2025 wage data and BEA regional price parities for 2024.
1Which City Pays More?
Detailed Comparison
| Metric | Richmond, VA | Boston, MA | Diff |
|---|---|---|---|
| Median Annual Salary | $104,160 | $117,520▲ | -$13,360 |
| 25th Percentile | $78,500 | $92,060▲ | -$13,560 |
| 75th Percentile | $137,490 | $163,600▲ | -$26,110 |
| 90th Percentile | $178,600 | $207,010▲ | -$28,410 |
| Price Level (BEA 2024, US = 100) | 97.9 | 108.3 | -10.4 |
| Median at National-Average Prices | $106,440 | $108,547▲ | -$2,107 |
| Total Employment | 1,630 | 13,010 | -11,380 |
3Summary Analysis
On paper, Boston, MA pays $13,360 more (median: $104,160 vs $117,520). BEA's regional price parity is 97.9 in Richmond, VA and 108.3 in Boston, MA (United States = 100). At national-average prices the medians are $106,440 and $108,547, so Boston, MA comes out ahead once local prices are counted.
4More Financial Analyst City Comparisons
5Reading This Comparison
The $13,360 gap between the two medians is a gap in dollars, not in what those dollars buy. Dividing each median by its area's regional price parity restates it at national-average prices: $106,440 for Richmond and $108,547 for Boston, a difference of $2,107.
The price levels come from the U.S. Bureau of Economic Analysis, which describes them this way: “Regional price parities (RPPs) measure the differences in price levels across states and metropolitan areas for a given year and are expressed as a percentage of the overall national price level.” The figures used here are the all-items index for each whole metropolitan area (Richmond, VA; Boston-Cambridge-Newton, MA-NH) and cover prices only, not taxes.
BLS estimates 1,630 Financial Analyst jobs in the Richmond area and 13,010 in the Boston area. For broader context, see our Virginia overview and the full Financial Analyst city ranking.
Frequently Asked Questions
Is Financial Analyst salary higher in Richmond, VA or Boston, MA?
Boston, MA has the higher median wage for Financial Analysts ($117,520 per year, against $104,160 in Richmond, VA; BLS OEWS May 2025). Restated at national-average prices using BEA regional price parities, the medians are $106,440 in Richmond, VA and $108,547 in Boston, MA.
How do prices compare between Richmond, VA and Boston, MA?
The U.S. Bureau of Economic Analysis puts the 2024 regional price parity at 97.9 for the Richmond, VA metropolitan area and 108.3 for the Boston-Cambridge-Newton, MA-NH metropolitan area, where the United States is 100. That is 2.1% below the national level for Richmond, VA and 8.3% above the national level for Boston, MA.
Which city pays Financial Analysts more once local prices are counted?
Boston, MA: at national-average prices its median Financial Analyst wage is $108,547, against $106,440 for Richmond, VA. The adjustment divides each median by the area's BEA regional price parity and covers prices only, not taxes.