NAICS 52

Finance and Insurance in Syracuse, NY

Metro Market Score 68.7 (Difficult), ranked #287 of 331 metros. 831 establishments, 8,540 jobs.

Metro Market Score 68.7

Favorable 0-35

Moderate 35-48

Challenging 48-60

Difficult 60+

Difficult

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

Syracuse's finance and insurance sector saw employment decline over the past year (growth trend: 17.2). That contraction, combined with a 68.7 market score, puts this metro in the bottom quartile for market conditions. Understand why the local market is shrinking before committing.

Industry Concentration

66.5

LQ: 0.71

Rank #220 of 331 metros

Wage Competitiveness

74.3

$103,395 avg wage

Growth Trend

↓ 17.2

Employment growth index

Rank #275 of 331 metros

Wage Pressure

43.4

YoY wage change index

831 Finance and Insurance Firms in Syracuse

831

Establishments

-1.0% YoY

8,540

Total Employment

-4.5% YoY

$103,395

Average Annual Wage

+5.2% YoY

0.71

Location Quotient

Below national avg

Within New York

#9 of 12

finance and insurance metros in state

New York state rank

#49 of 51

for finance and insurance entry risk

vs State Median

+10.8

worse than median (57.9)

Syracuse vs New York Statewide

How this metro's finance and insurance market compares to New York overall. The state ranks #49/51 for entry risk.

Measure	Syracuse	NY Statewide
Overall Score	68.7 Difficult	65.4 High
Score Type	Metro Market Score	Entry Risk Score
Rank	#287 of 331 metros	#49 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 Syracuse

Real Estate and Rental and Leasing 43.9 Other Services 53.0 Accommodation and Food Services 57.6 Information 57.8 Administrative and Support Services 57.8 Retail Trade 57.9 Construction 58.5 Professional, Scientific, and Technical Services 61.4

Finance and Insurance in Other New York Metros

Elmira 25.2 #21/331 Watertown-Fort Drum 33.6 #67/331 Kingston 40.0 #105/331 Kiryas Joel-Poughkeepsie-Newburgh 43.7 #133/331 Binghamton 51.6 #186/331 Glens Falls 55.4 #223/331 Utica-Rome 57.9 #235/331 Ithaca 62.4 #260/331 Rochester 69.3 #291/331 Buffalo-Cheektowaga 74.4 #313/331

+ 1 more metros. View all in New York →

Finance and Insurance Metros With Similar Conditions

Metros within 5 points of Syracuse's 68.7 score. Useful when comparing markets with comparable entry profiles.

Jacksonville, FL 68.6 #286/331 Colorado Springs, CO 68.5 #285/331 Seattle-Tacoma-Bellevue, WA 69.0 #288/331 Mobile, AL 69.1 #289/331 Louisville-Jefferson County, KY 68.2 #284/331 Provo-Orem-Lehi, UT 69.3 #290/331 Rochester, NY 69.3 #291/331 Coeur d'Alene, ID 67.9 #283/331 Johnson City, TN 67.8 #282/331 Portland-Vancouver-Hillsboro, OR 69.7 #292/331

Finance and Insurance in States Bordering New York

State-level entry risk for finance and insurance in adjacent states. Use this to weigh cross-border options.

Massachusetts 48.2 #15/51 Pennsylvania 48.8 #19/51 New Jersey 53.2 #32/51 Vermont 53.6 #34/51 Connecticut 73.7 #51/51

Browse Finance and Insurance in Other States

State-level entry risk reports for finance and insurance across all 51 markets, sorted by rank.

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 Syracuse's finance and insurance sector, the employment growth component (82.8) 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

Quarterly Census of Employment and Wages (QCEW), Bureau of Labor Statistics. MSA-level establishment counts, employment, wages, and location quotients for the Syracuse, NY MSA area.

Data period: 2024. Last updated: April 2026.

Metro Market Assessment