Labor Market Pulse · Finance · October 2026
Finance Labor Market Report: Albany-Schenectady-Troy, NY MSA — October 2026
Albany Controller pay jumps as finance headcount tightens.
Controller advertised pay rose to a metro median of $101,303 even as Albany financial activities employment fell by 600 jobs and county unemployment held near 3.9%.
Free archive edition. Published by WageScape as sent to subscribers; data as of October 2026.
Key indicators
- Albany/Rensselaer unemployment: 3.9% — vs 4.3% statewide, 4.1% national
- Controller advertised pay (metro): $101,303 — Significant increase; below $115,420 national
- Metro financial activities employment: -600 jobs — YoY, Dec 2024-Dec 2025, NY DOL
- CFO turnover rate (national): 18.3% — Highest since pandemic, Crist|Kolder 2026
Key takeaways
Controller pay is moving while the broader market cools.
A significant local increase to $101,303 median advertised pay for Controllers contrasts with metro financial activities employment losses of 600 jobs — employers appear to be concentrating compensation investment in retention-critical close and audit roles even as adjacent headcount shrinks.
Credit Analyst pay decline may reflect softening demand.
Metro median advertised pay for Credit Analysts fell significantly to $70,500 against a stable national figure of $71,397, a divergence worth tracking against local lending and financial activities contraction before assuming it reflects a thinner candidate pool.
Tax Specialist pay climbs on both metro and national tracks.
Metro median advertised pay rose significantly to $74,489, outpacing the national figure of $69,556 — a signal that tax function expertise is drawing premium pay locally, plausibly tied to year-end compliance and audit prep cycles layered on top of national finance talent shortages.
Metro's low unemployment compounds hiring difficulty.
Albany and Rensselaer counties sit near 3.9% unemployment against the state's 4.3%, a tighter labor pool that compounds national findings that 61% of finance hiring managers report harder-than-average sourcing conditions.
Median advertised pay by role — Albany-Schenectady-Troy, NY MSA
| Role | 25th percentile | Median advertised pay | 75th percentile | Metro trend | National median |
|---|---|---|---|---|---|
| Controller | $51,595 | $101,303 | $112,718 | Significant increase | $115,420 |
| Senior Accountant | $72,500 | $86,798 | $87,731 | Stable | $87,731 |
| Financial Analyst | $71,895 | $92,250 | $102,336 | Moderate increase | $94,646 |
| Billing Specialist | $39,848 | $48,986 | $55,120 | Moderate increase | $49,000 |
| Tax Specialist | $47,664 | $74,489 | $88,217 | Significant increase | $69,556 |
| Credit Analyst | $57,056 | $70,500 | $70,864 | Significant decline | $71,397 |
| FP&A Manager | $105,672 | $129,308 | $142,145 | Stable | $130,000 |
WageScape's median is calibrated to correct for spurious low-value postings (reported as the 60th percentile of raw advertised pay). Download: CSV · JSON
Local market conditions
Albany metro unemployment held at 3.9% in Albany and Rensselaer counties through August, a tighter reading than the state's 4.3% and a sign that finance talent remains scarce relative to demand even as statewide private-sector hiring stalls. Metro nonfarm job growth of just 0.8% year-over-year masks a divergence: professional/business services gained 1,200 jobs while financial activities lost 600, consistent with the national pattern of finance headcount pressure concentrated in support functions over front-office roles.
What it means
Controller advertised pay rose to a metro median of $101,303, a significant increase that outpaces the metro's modest overall wage growth and signals employers are paying up for scarce close-and-controls talent even as broader financial activities headcount contracts locally. With CFO turnover nationally at 18.3% and 70% of finance leaders expanding contract talent use in H2 2026, budget cycle and audit readiness planning should assume higher churn risk in key finance seats paired with growing reliance on contingent staff who require tighter documentation controls. Consider reviewing succession depth for Controller and FP&A Manager roles alongside contractor governance protocols ahead of year-end close.
Looking ahead
Early indicator: Watch whether Controller and FP&A Manager advertised pay continues climbing into Q4 close season — sustained increases would suggest employers are pricing in retention risk ahead of CFO turnover reaching 18.3% nationally.
Potential inflection point: New York's minimum wage freeze and statewide private-sector job losses create downward wage pressure statewide; monitor whether Albany's tighter local labor market insulates finance pay from that statewide drag or begins tracking it.
Worth watching: Credit Analyst pay fell sharply locally against a stable national trend — track whether this reflects reduced lending activity tied to financial activities job losses or a temporary dip ahead of year-end hiring.
Emerging pressure point: National contract-talent usage in finance is rising toward 70% of leaders; watch for similar signals in Albany job ad language (contract, interim, project-based) as a leading indicator of FTE-to-contractor shifts affecting headcount cost planning.
Sources
- U.S. Bureau of Labor Statistics — Albany and Rensselaer county unemployment rates at 3.9% in August 2026
- New York Department of Labor — Metro nonfarm job growth of 4,000 jobs (0.8%) with financial activities losing 600 jobs
- Crist|Kolder Associates — CFO turnover projected at 18.3% in 2026, highest since pandemic
- AFP FP&A Forum — 70% of finance leaders increasing contract talent use in H2 2026
- Bureau of Labor Statistics — New York statewide unemployment rate at 4.3% in September 2026
- Robert Half — 61% of finance hiring managers report harder sourcing conditions than a year ago
Methodology
Advertised pay from active employer job postings, not survey data. WageScape's median is calibrated to correct for spurious low-value postings: distribution analysis shows roughly the lowest 10% of raw values are erroneous entries, so the reported median is the 60th percentile of raw advertised pay. WageScape observes 98% of U.S. job openings daily.
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