Labor Market Pulse

IN NONMETROPOLITAN AREA Edition

Focus: FINANCE

Nonmetro Indiana Finance pay falls as national rates hold firm.

2.7%–2.9%

Nonmetro county unemployment range

Pulaski, Wells, Boone counties vs 4.1% national

$78,219

Financial Analyst advertised pay

Down significantly vs stable $94,782 national median

$60,320

Credit Analyst advertised pay

Up significantly, tracking $71,758 national median gain

-300 to +4,100/qtr

Indiana financial services job swing

Forecast volatility range through 2027

This Month's Takeaways

01

Nonmetro Finance pay is falling while national rates hold steady.

Controller, Financial Analyst and FP&A Manager advertised pay all declined locally this month against stable national medians — a divergence that widens the remote-work arbitrage risk for employers trying to retain analytical talent in rural counties.

02

Credit Analyst pay is the exception, and it's telling.

Metro Credit Analyst pay rose significantly to $60,320, outpacing a moderate national increase to $71,758. This likely reflects localized demand tied to manufacturing and agbioscience capital investment requiring credit and underwriting support near new facility sites.

03

Tax and billing roles show the steepest local pay erosion.

Tax Specialist ($43,046) and Billing Specialist ($34,769) advertised pay both fell significantly locally while national rates rose moderate-to-significant — a gap wide enough to create retention risk if these roles are benchmarked against stale local data.

04

Sector volatility complicates nonmetro headcount budgeting.

Indiana financial services employment forecasts swing between a 300-job loss and 4,100-job gain per quarter through 2027. Nonmetro Finance functions tied to statewide shared-services models should treat quarterly headcount assumptions as provisional, not fixed.

Local Labor Conditions

Nonmetropolitan Indiana's rural counties continue to post unemployment rates well below the national 4.1% — Pulaski at 2.7%, Wells and Boone near 2.9% — while capital flowing into advanced manufacturing, agbioscience and defense (570 new jobs announced in September alone) signals sustained demand for skilled technical talent even as wage levels in 82 of 83 smaller counties trail the national average. This gap between tight local labor supply and below-average pay — Martin County's $1,695 weekly wage is the exception, Brown County's $742 the reality for most — reflects a nonmetro economy still absorbing manufacturing-linked investment without the compensation growth typically associated with that demand.

Leadership & Talent Implications

Statewide financial services volatility — Indiana forecasts show financial services employment swinging between a 300-job loss and a 4,100-job gain per quarter through 2027 — makes nonmetro Finance headcount planning unusually sensitive to short-cycle revisions rather than annual budget assumptions. Metro-level advertised pay for Controller ($99,425), Financial Analyst ($78,219) and FP&A Manager ($112,241) all moved down this month against stable-to-rising national medians, suggesting nonmetro employers are not yet competing on pay for these roles despite statewide talent scarcity signals in skilled trades and manufacturing. Consider reviewing whether Finance role postings in nonmetro locations are losing ground to national remote-eligible competition before the next hiring cycle locks in below-market offers.

Advertised Pay Indicators

Role	P25	Median	P75	Local Trend	National	Nat. Trend
Controller	$80,000	$99,425	$106,425	↓ Moderate decline	$113,754	↑ Moderate increase
Senior Accountant	$75,440	$81,033	$85,000	↑ Moderate increase	$87,731	→ Stable
Financial Analyst	$66,269	$78,219	$87,952	↓ Significant decline	$94,782	→ Stable
Billing Specialist	$33,377	$34,769	$43,999	↓ Significant decline	$49,512	↑ Moderate increase
Tax Specialist	$32,278	$43,046	$44,246	↓ Significant decline	$65,842	↑ Significant increase
Credit Analyst	$49,087	$60,320	$67,460	↑ Significant increase	$71,758	↑ Moderate increase
FP&A Manager	$91,023	$112,241	$122,778	↓ Moderate decline	$128,139	→ Stable

Some roles reflect state-level data where local metro sample size was insufficient.

Looking Ahead · Next 30–60 Days

Worth watching

Indiana's unemployment rate is projected to rise from 3.6% toward 4.4% through year-end even as nonmetro counties post sub-3% readings. Watch whether this statewide softening reaches rural labor markets or remains concentrated in metro areas.

Emerging pressure point

Nonmetro advertised pay fell across five of seven tracked Finance roles this month while national medians held or rose. If this gap persists into Q4 budget cycles, expect increased attrition risk for remote-capable roles like Financial Analyst and FP&A Manager.

Potential inflection point

Capital investment announcements (Givaudan's $215M Dearborn County facility, Amazon's Greenwood plant) are manufacturing-focused but typically pull adjacent demand for credit, billing and site-level finance support. Monitor whether Credit Analyst's pay gain this month is the leading edge of a broader local repricing.

Expected

National financial activities employment has shed 129,000 jobs since May 2025, with insurance carriers hit hardest. Nonmetro Indiana employers with insurance-adjacent Finance functions should watch for talent becoming available locally as national contraction continues.

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