Financial Services · Albany, NY
Compliance officers and actuaries are more concentrated in the Capital Region than in the U.S., while financial managers and analysts here earn less than the national median. Careerscape fills Albany finance roles from a national bench of recruiters who specialize in financial services and work remotely.
The pattern
Two finance occupations are much more common in the Capital Region than in the U.S. as a whole. BLS counts 1,710 compliance officers in the Albany-Schenectady-Troy metro, a location quotient of 1.42, and 170 actuaries, an LQ of 2.16. Insurance underwriters (1.23) and claims adjusters and examiners (1.29) are also deeper than average.
The employer base fits that pattern. The New York State Teachers' Retirement System is based at Corporate Woods in Albany. The Office of the State Comptroller, which oversees the New York State Common Retirement Fund, is at 110 State Street downtown. Two regional health plans are headquartered in the metro: CDPHP in Albany and MVP Health Care in Schenectady.
Pay at the top is lower than the national picture. Financial managers earn a median $150,590 against $166,570 for the U.S., and financial and investment analysts $91,270 against $102,740. Personal financial advisors are the exception, at $124,610 against $105,070. For an employer, the analyst and manager discount is real, but so is the risk that a strong candidate takes a remote role at a downstate or national firm.
Careerscape recruits for these employers remotely through our financial services recruiting practice. For how civil service hiring and the chip fabs affect the wider market, see the Albany hiring guide.
BLS data
BLS Occupational Employment and Wage Statistics for the Albany-Schenectady-Troy, NY metro, May 2025, all industries. Location quotient compares the metro's share of jobs in each occupation with the U.S. share.
| Occupation | Jobs in metro | Median pay · vs. U.S. | Concentration |
|---|---|---|---|
| Financial and Investment Analysts | 1,190 | $91,270−11% | 1.14 |
| Accountants and Auditors | 4,680 | $84,660+1% | 1.12 |
| Financial Managers | 2,680 | $150,590−10% | 1.10 |
| Loan Officers | 560 | $79,710+4% | 0.71 |
| Securities, Commodities, and Financial Services Sales Agents | 1,130 | $80,820+3% | 0.80 |
| Credit Analysts | 130 | Not published | 0.69 |
| Insurance Underwriters | 370 | $92,830+14% | 1.23 |
| Claims Adjusters, Examiners, and Investigators | 1,210 | $80,070+3% | 1.29 |
| Personal Financial Advisors | 680 | $124,610+19% | 0.88 |
| Compliance Officers | 1,710 | $81,190+1% | 1.42 |
| Actuaries | 170 | Not published | 2.16 |
Accountants and auditors are the largest group, 4,680 jobs, and earn close to the U.S. median ($84,660 against $83,680). Insurance underwriters earn $92,830 against $81,370 nationally. The thin pools are loan officers (LQ 0.71, 560 jobs) and credit analysts (LQ 0.69, 130 jobs). BLS did not publish medians for credit analysts or actuaries in this metro, so set those offers from regional and national data. Jobs and median annual pay for the Albany-Schenectady-Troy, NY metro area, all employers, from the BLS Occupational Employment and Wage Statistics survey (May 2025). “Vs. U.S.” compares with the national median. Concentration is the BLS location quotient: above 1.0 means the job makes up a bigger share of local employment than it does nationally.
Market size
Three public figures for institutions headquartered in the metro.
NY CPA change
New York added a second path to a CPA license (A.7613/S.6892, signed November 2025). The State Education Department's rules show what an employer has to get right if it wants staff accountants to qualify.
The 120-semester-hour plus two-year route applies on or after November 21, 2026. Candidates already approved to sit for the exam before then can finish their remaining sections under the earlier rules. The 150-hour route with one year of experience stays.
Candidates need a registered CPA-120 program or an equivalent: 120 semester hours, including 27 in accounting with a course in each of financial reporting, cost or managerial, tax, audit and accounting information systems, plus a course in each of five business areas, among them data analytics and finance.
Experience must be supervised by a licensed U.S. CPA who works for the same employer. Contractors, consultants and board members do not qualify as supervisors, and the supervisor, not the candidate, files Form 4B.
The route needs two years full-time, meaning a five-day week of at least 35 hours, or the part-time equivalent at 20 or more hours a week, where two part-time weeks count as one.
NYSED accepts experience from public accounting, government, private industry or a college, in areas that include internal audit, internal financial statement preparation, tax, financial advisory and consulting. Check that the role's duties fit one of the listed areas before you promise a licensure timeline.
Talent pipeline
Three local programs worth knowing when you recruit entry and early-career staff.
Its AACSB-accredited BS in Accounting is 120 credits and lets graduates sit for the CPA Exam right after graduation. Many students add a master's in accounting to reach 150 credits.
A 30-credit M.S. in Accounting, one year full-time and on campus, for students with an undergraduate accounting degree who plan to sit for the New York CPA Exam.
A STEM-designated M.S. in Quantitative Finance and Risk Analytics, typically two semesters, with hands-on financial modeling and risk simulation in Python, R and MATLAB.
Request talent
Share the role, whether a CPA path matters and the pay range, and a finance recruiter will reply.
Looking for a job instead? Submit your resume or browse open jobs.
FAQ
On November 21, 2026. From that date, a candidate can qualify with 120 semester hours, including required accounting and business courses, two years of experience supervised by a licensed U.S. CPA, and the CPA Exam. The existing route of 150 hours and one year of experience remains. The State Education Department's Office of the Professions publishes the details.
No. Under NYSED's rules for the 120-hour route, the applicant and the supervising CPA must work for the same employer, and contractors, consultants and board members do not qualify. If your finance department has no licensed CPA on staff, a staff accountant may not be able to earn qualifying experience with you. That is worth knowing before you recruit.
FDIC call report data for the second quarter of 2026 lists six: TrustCo Bank in Glenville ($6.52 billion in assets), Pioneer Bank in Albany ($2.34 billion), The Adirondack Trust Company in Saratoga Springs, Ballston Spa National Bank, First National Bank of Scotia and Bank of Richmondville in Cobleskill. Larger national and regional banks also operate in the metro.
The BLS May 2025 median for financial managers in the Albany-Schenectady-Troy metro is $150,590, about 10% below the U.S. median of $166,570. The middle half earn between $114,430 and $196,930. The metro has 2,680 financial managers, slightly more concentrated than the U.S. (LQ 1.10). Our controller salary guide shows national pay by level.
Yes. Careerscape has no Albany office; our national team recruits by industry and works for Capital Region employers remotely. We handle direct hire, contract and contract-to-hire finance searches and deliver a pre-screened shortlist in the private Employer Portal, where you request interviews and track the pipeline.
Tell us what the team needs and we will bring a short list of screened candidates. Job seekers can search open jobs or check the compliance officer salary guide.
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