Investment Banker Salary in Akron, OH
How much does a investment banker make in Akron? Explore median, entry-level, and senior salaries adjusted for Akron's cost of living.
Salary Breakdown by Experience Level
See how investment banker salaries break down across different pay periods in Akron.
| Period | Entry Level | Median | Senior |
|---|---|---|---|
| Annual | $52,793 | $96,270 | $155,275 |
| Monthly | $4,399 | $8,023 | $12,940 |
| Biweekly | $2,031 | $3,703 | $5,972 |
| Weekly | $1,015 | $1,851 | $2,986 |
| Hourly | $25 | $46 | $75 |
Akron vs National Average
How Akron's investment banker salaries compare to national figures.
Cost of Living in Akron
About Investment Banker
Overview
Advise companies on mergers, acquisitions, and capital raising.
Education
Bachelor's degree in Finance or related field; MBA advantageous
Key Skills
Growth Rate
Expected job growth: +19% over the next decade
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Investment Banker Salary in Akron, OH — Complete Guide
Median Salary Overview
The median salary for a investment banker in Akron, OH is $96,270 per year, adjusted for the local cost of living index of 85. This figure reflects typical earnings for experienced professionals in this role, considering Akron's unique economic conditions.
Salary Range and Experience Levels
Entry-level investment banker professionals in Akron can expect to earn around $52,793 annually. As professionals gain experience, salaries typically increase, with senior-level investment bankers earning approximately $155,275 per year. This represents a 194% increase from entry to senior level.
Cost of Living Adjustment
Akron's cost of living index of 85 significantly impacts salary comparisons. As a lower cost-of-living city, salaries in Akron are adjusted accordingly. This means that while the nominal salary may appear higher or lower than the national average of $83,200, the actual purchasing power must be considered in context.
Housing and Affordability
A significant portion of a investment banker's salary in Akron typically goes toward housing. With a 1-bedroom apartment averaging $850 per month, housing represents about 10.6% of median salary. Financial experts generally recommend keeping housing expenses below 30% of gross income.
Career Growth and Opportunities
Investment Bankers are in growing demand across the United States, with an expected job growth of 19% over the next decade. In Akron, this translates to increasing opportunities and potential for salary growth as demand for experienced professionals continues to rise.