Lockheed Martin finance analyst salary in 2026: FP&A, program finance, and career progression
The Lockheed Martin finance analyst salary in 2026 ranges from $65K for entry-level FP&A hires to around $140K for senior program finance analysts running cost control on multi-billion-dollar defense programs. Finance at Lockheed isn't corporate spreadsheet work — it's Earned Value Management on the F-35, cost estimation for Orion spacecraft components, and rate structure analysis on classified satellite contracts. The work is specialized, and the pay reflects both the clearance requirements and the defense-specific financial skills.
Here's what finance analysts actually earn at Lockheed by level, function, and location — and how the pay compares to corporate finance roles at other companies.
Finance analyst salary by level
Lockheed Martin uses a leveled system for finance professionals that parallels the engineering ladder:
The median Lockheed Martin finance analyst salary sits around $92K based on Glassdoor and Levels.fyi data, reflecting the Analyst II/III range where most of the finance workforce operates. Progression from Analyst I to Analyst III takes 4-6 years; reaching Senior Finance Analyst typically takes 7-10 years total.
FP&A vs. program finance: two different tracks
Finance analysts at Lockheed fall into two main categories with different day-to-day work and slightly different pay:
FP&A (Financial Planning & Analysis) — Corporate-side planning. FP&A analysts build annual operating plans, quarterly forecasts, and variance analyses at the business unit and sector level. Work is similar to FP&A at any large corporation — Excel models, board-level reporting, strategic planning support.
| FP&A Level | Salary Range | Work Focus |
|---|---|---|
| FP&A Analyst I | $65K-$78K | Budget compilation, variance reporting |
| FP&A Analyst II | $75K-$95K | Forecasting, management reporting |
| Sr FP&A Analyst | $95K-$130K | Strategic planning, sector-level analysis |
| FP&A Manager | $120K-$155K | Team leadership, C-suite deliverables |
Program Finance — Contract-side finance. Program finance analysts work directly on defense contracts, managing EVM baselines, tracking BCWS/BCWP/ACWP metrics, developing estimates at completion (EACs), and presenting financial status to government customers. This is the defense-specific track.
| Program Finance Level | Salary Range | Work Focus |
|---|---|---|
| Program Finance Analyst I | $68K-$82K | Data entry, labor tracking, charge number management |
| Program Finance Analyst II | $78K-$100K | EVM analysis, EAC development, variance explanations |
| Sr Program Finance Analyst | $105K-$140K | Integrated baseline reviews, customer reporting |
| Program Finance Manager | $130K-$165K | Multi-program financial oversight, proposals |
Program finance analysts tend to earn 5-10% more than FP&A analysts at equivalent levels because the work requires EVM expertise, clearance eligibility, and direct customer interaction.
Earned Value Management is the language of defense program finance. It tracks planned work (BCWS), completed work (BCWP), and actual cost (ACWP) to assess whether a program is on schedule and on budget. EVM proficiency is required for any program finance role above entry level at Lockheed. If you're joining defense finance from corporate FP&A, learning EVM is your first priority. The AACEI EVM Professional (EVMP) certification demonstrates competency.
Starting salary for finance analysts
New graduate finance analysts at Lockheed Martin earn $65K-$80K depending on degree and location:
| Education | Typical Level | Starting Salary |
|---|---|---|
| BS Finance / Accounting | Analyst I | $65K-$75K |
| BS + LM intern conversion | Analyst I (high) | $70K-$80K |
| MBA / MS Finance | Analyst II | $78K-$92K |
| CPA holders | Analyst I-II | $72K-$88K |
Intern conversions carry a premium at Lockheed. Finance interns who receive return offers typically start $3K-$5K above standard campus hire rates. An internship at Lockheed is the most reliable path to the top of the entry range.
Finance analyst salary by location
| Location | Entry Analyst | Senior Analyst | State Tax | Notes |
|---|---|---|---|---|
| Bethesda, MD | $70K-$82K | $110K-$140K | 5.75% | Corporate HQ, most FP&A roles |
| Fort Worth, TX | $65K-$78K | $100K-$132K | None | F-35 program finance hub |
| Littleton/Denver, CO | $67K-$80K | $102K-$135K | 4.4% | Space sector finance |
| Orlando, FL | $62K-$75K | $95K-$125K | None | Missiles and Fire Control |
| Sunnyvale, CA | $72K-$85K | $112K-$142K | 9.3-13.3% | Space programs, high COL |
| Moorestown, NJ | $68K-$80K | $105K-$135K | 6.4-10.75% | RMS sector finance |
Bethesda, MD (corporate headquarters) has the highest concentration of FP&A roles and pays at the top of the range due to the DC-area cost of living. Fort Worth, TX offers the best purchasing power: no state income tax combined with high-volume F-35 program finance work. Orlando, FL is similar — lower cost of living, no state tax, solid program finance roles on missile and training system contracts.
Total compensation for finance analysts
The full picture beyond base salary:
| Component | Entry (Analyst I) | Senior Analyst |
|---|---|---|
| Base salary | $70,000 | $120,000 |
| 401(k) contribution (10%) | $7,000 | $12,000 |
| Annual bonus (5-10%) | $3,500-$7,000 | $6,000-$12,000 |
| Education reimbursement | Up to $10,000/yr | Up to $10,000/yr |
| Total comp | $80,500-$94,000 | $138,000-$154,000 |
The 10% 401(k) contribution is the same benefit offered to engineers — Lockheed doesn't differentiate retirement contributions by job family. A senior finance analyst earning $120K gets $12K/year in Lockheed retirement contributions automatically. Combined with the annual bonus, total comp for senior analysts approaches $150K.
Education reimbursement is heavily used by finance analysts pursuing CPA, CMA, or MBA credentials. Lockheed covers up to $10K/year, making it feasible to earn an MBA part-time while working.
How Lockheed finance pay compares
| Employer | Entry Finance Analyst | Senior Finance Analyst | 401(k) | Hours |
|---|---|---|---|---|
| Lockheed Martin | $65K-$80K | $100K-$140K | 10% | 40-45 |
| Northrop Grumman | $65K-$82K | $100K-$142K | ~6% | 40-45 |
| Boeing | $62K-$78K | $95K-$135K | 10% | 40-45 |
| Raytheon / RTX | $60K-$75K | $90K-$130K | ~6% | 40-45 |
| Corporate FP&A (Fortune 500) | $65K-$85K | $100K-$150K | 3-6% | 45-55 |
| Investment banking (analyst) | $100K-$120K | $200K-$350K | Varies | 70-90 |
Lockheed's finance analyst salary is competitive with other defense contractors and comparable to corporate FP&A at Fortune 500 companies. The 10% 401(k) contribution and 40-45 hour weeks make the effective compensation attractive on an hourly basis. Investment banking and private equity pay dramatically more at senior levels, but the lifestyle trade-off is extreme — 70-90 hour weeks versus Lockheed's 9/80 schedule.
Defense finance analysts who spend 5-7 years at a prime contractor (Lockheed, Northrop, Boeing) build skills that are highly transferable. EVM expertise, FAR knowledge, and clearance eligibility make you valuable to government consulting firms (Booz Allen, SAIC, Leidos) and to the government itself (DCMA, DCAA). Senior defense finance professionals who move to consulting can earn $140K-$180K. Moving to a government role (GS-13/14) trades salary for job security and federal benefits.
Career progression in Lockheed Martin finance
The finance career path at Lockheed branches at the senior analyst level:
Individual contributor track — Senior Finance Analyst → Principal Analyst → Finance Fellow. Rare to reach the fellow level, but senior individual contributors who specialize in proposals, pricing, or complex EVM can earn $130K-$150K without managing people.
Management track — Finance Manager → Controller → Director of Finance → VP of Finance. Controllers manage finance teams for entire programs or product lines ($145K-$185K). Directors oversee sector-level finance ($180K-$230K). VP of Finance positions exist at each of Lockheed's four sectors and at the corporate level.
Program management track — Some finance analysts transition to program management, leveraging their financial acumen to run programs rather than support them. This path leads to higher earning potential ($150K-$250K+ for large program managers) but moves you away from pure finance work.
Skills that boost finance analyst salary at Lockheed
- EVM certification (AACEI EVMP) — Validates the core skill of defense finance; correlates with 5-10% salary premium
- CPA or CMA — Required for controller-track positions; $5K-$10K premium
- Security clearance — Secret or Top Secret clearance enables work on classified programs with 5-15% pay premium
- SAP / Oracle proficiency — Lockheed uses enterprise systems for financial reporting; system expertise is valued
- Proposal pricing — Analysts who can build and defend cost proposals for new business are in high demand
Frequently asked questions
What is the starting salary for a finance analyst at Lockheed Martin?
Entry-level finance analysts (Analyst I) at Lockheed Martin earn $65K-$80K base salary in 2026. BS holders in finance or accounting typically start at $65K-$75K. MBA holders or those with CPA certification may enter at the Analyst II level at $78K-$92K. Total first-year comp including the 10% 401(k) contribution and bonus reaches $75K-$95K.
Do Lockheed Martin finance analysts need security clearances?
Many program finance positions require Secret clearance, and some classified programs require Top Secret. FP&A roles at the corporate level may not require clearances. Lockheed sponsors clearances for new hires. Cleared finance analysts earn 5-10% more than uncleared peers and have access to a wider range of positions.
How does Lockheed Martin finance analyst pay compare to Big 4?
Entry-level pay is similar (Lockheed $65K-$80K vs. Big 4 $68K-$85K). At senior levels, Big 4 advisory/consulting pays more ($140K-$180K+ for managers) but requires 50-60 hour weeks and travel. Lockheed offers 40-45 hour weeks, a 9/80 schedule, and a 10% 401(k). On a per-hour basis, Lockheed total comp is often higher through the senior analyst level.
What does a Lockheed Martin finance analyst actually do?
Program finance analysts manage cost baselines using Earned Value Management (EVM), prepare estimates at completion, track labor hours and material costs against budgets, and report program financial status to both internal management and government customers. FP&A analysts build forecasts, analyze variances, and support strategic planning at the business unit level. Both tracks require strong Excel skills and the ability to translate financial data into actionable insights.
Browse Lockheed Martin positions on Zero G Talent. For broader analyst salary data, see the Lockheed Martin analyst salary guide. For engineering pay comparisons, see how much Lockheed Martin pays engineers or the Lockheed Martin pay scale guide.
