NAICS 52

Finance and Insurance in Bay City, MI

Metro Market Score 31.5 (Favorable), ranked #57 of 331 metros. 91 establishments, 587 jobs.

Metro Market Assessment

Metro Market Score 31.5
Favorable 0-35
Moderate 35-48
Challenging 48-60
Difficult 60+
Favorable

ⓘ Lower is better. Relative to national finance and insurance average.

Labor costs are a clear advantage in Bay City's finance and insurance sector. The wage competitiveness index of 12.7 puts it among the lowest-cost metros, and wage pressure at 41.4 suggests that gap is holding steady.

Industry Concentration
16.0
LQ: 0.42
Rank #53 of 331 metros
Wage Competitiveness
12.7
$70,210 avg wage
Growth Trend
46.5
Employment growth index
Rank #178 of 331 metros
Wage Pressure
41.4
YoY wage change index

91 Finance and Insurance Firms in Bay City

91
Establishments
-11.7% YoY
587
Total Employment
-1.0% YoY
$70,210
Average Annual Wage
+4.4% YoY
0.42
Location Quotient
Below national avg

Bay City vs Michigan Statewide

How this metro's finance and insurance market compares to Michigan overall. The state ranks #23/51 for entry risk.

Measure Bay City MI Statewide
Overall Score 31.5 Favorable 49.8 Elevated
Score Type Metro Market Score Entry Risk Score
Rank #57 of 331 metros #23 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Bay City

Real Estate and Rental and Leasing 23.0 Construction 23.9 Other Services 30.8 Information 36.2 Healthcare and Social Assistance 51.6 Accommodation and Food Services 64.5 Professional, Scientific, and Technical Services 67.0 Retail Trade 69.3

Finance and Insurance in Other Michigan Metros

Monroe 17.3 #2/331 Muskegon-Norton Shores 19.4 #8/331 Battle Creek 24.2 #18/331 Midland 41.6 #113/331 Jackson 42.4 #122/331 Niles 44.1 #138/331 Grand Rapids-Wyoming-Kentwood 47.8 #158/331 Lansing-East Lansing 50.5 #176/331 Ann Arbor 52.0 #188/331 Saginaw 53.3 #200/331

+ 4 more metros. View all in Michigan →

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Bay City's finance and insurance sector, the employment growth component (53.5) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Data period: 2024. Last updated: April 2026.