National Avg. Salary$95,320 More Salary Data →
Job Growth Rate11.7% More Growth Data →
Recommended DegreeBachelor's Programs & Degrees →
- Get to Travel
- High Income Potential
- Office Work Environment
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A financial analyst monitors financial instruments such as bonds, stocks, and equities in order to make profitable recommendations to the company they are working for. You typically make suggestions on which securities should be bought or sold in the employer’s portfolio.
The job responsibilities of a financial analyst include the following aspects:
- Track regional variations in forecasts to pinpoint potential gains for the business in areas like operating budgets, price and currency fluctuations, capital spending, facility rationalizations and changes in channel, i.e. direct or via distributor.
- Perform monthly processing work in a punctual manner to make sure that important observations from financials are disseminated by the deadline.
- Keep abreast of the latest financial planning software applications and other information like time permits; support the development and implementation of new software upgrades at the organizational level.
- Consistently conduct analyses of the company performance, keeping an eye out for areas of improvement based on current trends in the industry.
- Make informed recommendations to senior leadership on cost saving and profit optimizing strategies.
Day In The Life
As a financial analyst you will spend your day assessing the financial situation of your employer, and create accurate reports that will convey your recommendations clearly. Most of the work involves continuously tracking and interpreting available statistics on industry trends and forecasts for future profits, calculating a good market rate for selling company stock, and making strong suggestions to investors or the management. As a financial analyst, you will have to take risks to see gains but you will also manage risks effectively based on what works well for your clients.
Since much of the job entails thinking logically and keeping pace with fluctuating markets, you need to think critically at all points for potential investments. You will also make efforts to be a lifelong learner by studying economic policies and market conditions closely, via research like finance journals such as The Financial Times, The Wall Street Journal, and The Economist.
Work Schedule And Typical Hours
Typically, many financial analysts are used to working more than 40 hours per week. Sometimes, they may have to take work back home to complete after business hours. This is usually related to doing further research on tasks that will come up in the near future. This job is particularly stressful due to the unpredictability of markets and high workloads. Financial analysts usually work in a standard corporate environment at an office desk, spending time communicating with other analysts on the team, and possible trading partners. You may also travel to conduct meetings with senior executives, investment traders and bankers. Jobs where telecommuting or freelancing is an option are very rare.
Growth Of The Job
The Bureau of Labor Statistics projects that employment in this field will increase at almost 11 percent by the year 2026, at a rate that is faster than the national average. However, competition for promising opportunities will remain fierce among fresh graduates joining the workplace. The demand for specialists in finance will continue to grow and result in big companies making new positions available in their finance departments. Moving up the ladder in this field involves becoming an Analyst, then a Director and eventually to a Chief Financial Officer.
Financial analysts are hired by a range of financial companies, like investment firms, insurance and banking services. You may also find employment with private clients, and handle portfolios that are worth millions.
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Financial Analyst Salary Data
We've provided you the following to learn more about this career. The salary and growth data on this page comes from recently published Bureau of Labor Statistics data while the recommendations and editorial content are based on our research.
National Annual Salary
National Hourly Wage
How do Financial Analyst salaries stack up to other jobs across the country? Based on the latest jobs data nationwide, Financial Analyst's can make an average annual salary of $95,320, or $46 per hour. On the lower end, they can make $61,650 or $30 per hour, perhaps when just starting out or based on the state you live in.
Salary Rankings And Facts
#75 Nationally for All Careers
Above Average Salary Nationally
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How To Become
To be a financial analyst, you need to at least hold a bachelor’s degree in a related subject like economics, accounting, business studies, or statistics. You can find a specialization like finance, insurance claims or marketing. The more advanced your educational credentials, the better job prospects you will have in this industry. When you are hired as a junior professional in this industry, most employers will have training programs on-the-job to equip you with the skills needed for the role.
Entry-level jobs are usually very competitive and need you to have at least two years of work experience. While an undergraduate degree is enough for several positions, you can advance your career prospects with a graduate degree in business administration, which provides you with advanced knowledge in business theory. Depending on your interests, working as a financial analyst can be an exciting career choice if you excel with numbers and like being in a fast-paced environment.
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Recommended Min. Degree
Highest Education Among Financial Analyst
- 5.2% Doctorate
- 35.6% Masters
- 45.3% Bachelors
- 3% Associates
- 8% College
- 2.7% High School
- 0.2% Less than High School
Job Growth Projections and Forecast
2014 Total Jobs277,600
2024 Est. Jobs310,000
Job Growth Rate11.7%
Est. New Jobs32,400
How does Financial Analyst job growth stack up to other jobs across the country? By 2024, there will be a change of 32,400 jobs for a total of 310,000 people employed in the career nationwide. This is a 11.7% change in growth over the next ten years, giving the career a growth rate nationwide of Above Average.
Growth Rankings And Facts
#152 Nationally for All Careers
Above Avg. Growth Nationally
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