What is a Financial Analyst?
Position Description Conduct quantitative analyses of information affecting investment programs of public or private institutions.
A Day in the Life of a Financial Analyst
- Evaluate and compare the relative quality of various securities in a given industry.
- Interpret data on price, yield, stability, future investment-risk trends, economic influences, and other factors affecting investment programs.
- Recommend investments and investment timing to companies, investment firm staff, or the public.
- Monitor fundamental economic, industrial, and corporate developments by analyzing information from financial publications and services, investment banking firms, government agencies, trade publications, company sources, or personal interviews.
- Present oral or written reports on general economic trends, individual corporations, and entire industries.
- Inform investment decisions by analyzing financial information to forecast business, industry, or economic conditions.
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Things a Financial Analyst Should Know How to Do
These are the skills Financial Analysts say are the most useful in their careers:
Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Mathematics: Using mathematics to solve problems.
Writing: Communicating effectively in writing as appropriate for the needs of the audience.
Speaking: Talking to others to convey information effectively.
Related Job Titles
- Banking Analyst
- Treasury Analyst
- Planning Analyst
- Chartered Financial Analyst (CFA)
- Securities Research Analyst
Job Outlook for Financial Analysts
There were about 296,100 jobs for Financial Analyst in 2016 (in the United States). New jobs are being produced at a rate of 10.8% which is above the national average. The Bureau of Labor Statistics predicts 32,100 new jobs for Financial Analyst by 2026. Due to new job openings and attrition, there will be an average of 29,000 job openings in this field each year.
The states with the most job growth for Financial Analyst are Utah, Arizona, and Tennessee. Watch out if you plan on working in Maine, Alaska, or Mississippi. These states have the worst job growth for this type of profession.
What is the Average Salary of a Financial Analyst
Financial Analysts make between $52,540 and $167,420 a year.
Financial Analysts who work in New York, California, or New Jersey, make the highest salaries.
How much do Financial Analysts make in each U.S. state?
| State | Annual Mean Salary |
|---|---|
| Alabama | $88,350 |
| Alaska | $101,720 |
| Arizona | $78,650 |
| Arkansas | $78,050 |
| California | $109,640 |
| Colorado | $109,120 |
| Connecticut | $105,950 |
| Delaware | $93,740 |
| District of Columbia | $102,510 |
| Florida | $78,280 |
| Georgia | $84,350 |
| Hawaii | $78,800 |
| Idaho | $75,280 |
| Illinois | $88,760 |
| Indiana | $78,290 |
| Iowa | $83,230 |
| Kansas | $77,130 |
| Kentucky | $69,830 |
| Louisiana | $75,630 |
| Maine | $79,610 |
| Maryland | $92,800 |
| Massachusetts | $105,540 |
| Michigan | $84,410 |
| Minnesota | $93,160 |
| Mississippi | $74,230 |
| Missouri | $91,800 |
| Montana | $99,630 |
| Nebraska | $70,740 |
| Nevada | $83,370 |
| New Hampshire | $94,680 |
| New Jersey | $106,100 |
| New Mexico | $103,040 |
| New York | $137,270 |
| North Carolina | $89,020 |
| North Dakota | $82,770 |
| Ohio | $80,060 |
| Oklahoma | $70,300 |
| Oregon | $92,640 |
| Pennsylvania | $93,870 |
| Rhode Island | $80,650 |
| South Carolina | $80,690 |
| South Dakota | $73,870 |
| Tennessee | $74,870 |
| Texas | $94,980 |
| Utah | $78,510 |
| Vermont | $84,300 |
| Virginia | $97,990 |
| Washington | $87,590 |
| West Virginia | $75,290 |
| Wisconsin | $81,000 |
| Wyoming | $139,660 |
Tools & Technologies Used by Financial Analysts
Although they’re not necessarily needed for all jobs, the following technologies are used by many Financial Analysts:
- Microsoft Excel
- Microsoft Word
- Microsoft Office
- Microsoft PowerPoint
- Microsoft Outlook
- Microsoft Access
- Data entry software
- SAP
- Data visualization software
- Microsoft Project
- Microsoft SharePoint
- Microsoft Visio
- Structured query language SQL
- The MathWorks MATLAB
- Microsoft Dynamics
- SAS
- IBM Notes
- Microsoft Visual Basic
- Google Docs
- FileMaker Pro
Becoming a Financial Analyst
What education or degrees do I need to become a Financial Analyst?
How Long Does it Take to Become a Financial Analyst?
Where do Financial Analysts Work?
The table below shows the approximate number of Financial Analysts employed by various industries.
References:
Image Credit: Dave Dugdale via Creative Commons Attribution-Share Alike 2.0 Generic
More about our data sources and methodologies.
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