Insurance and Finance
Iowa is one of the top places to make bank.
We might be 1,000 miles away from Wall Street, but Iowa is no small fish in the money pool. Eighty of the nation’s most prominent insurance and financial service companies are headquartered in Iowa, including MEC Insurance Companies, Grinnell Mutual Reinsurance Company, Principal Financial, John Deere Financial, and Wellmark Blue Cross and Blue Shield (just to name a few).
Millennials make up a significant portion of this workforce, with each of them taking advantage of a favorable wage-versus-cost-living ratio (accountants and autidors reported making nearly $63,000 on average, while financial analysts made $78,000 and financial managers pulled in $108,000 on average).
Iowa has the second-largest concentration With local business incubators and accelerators like the Global Insurance Accelerator helping financial startups thrive, and our capital city, Des Moines, being known as the “Insurance Capitol of the United States,” it’s pretty easy to claim that Iowa is one of the best places to make bank.
Together, these major companies and more than 6,400 other related businesses employ more than 100,000 Iowans, making our state the second-strongest in the nation in this sector.
Iowa employs more financial examiners than any other state.
But that’s not all. Compared to the rest of the U.S. we also have:
- The second-largest concentration of insurance sales jobs.
- The fifth-largest concentration of underwriting jobs.
- The 10th-largest concentration of claims and policy-processing jobs.
Principal Financial attributes one-third of its workforce to individuals aged 36 years or younger.