What Do Financial Analyst Do?
Financial Analyst Job Description Conduct quantitative analyses of information affecting investment programs of public or private institutions.
A Day in the Life of a Financial Analyst
- 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.
- Collaborate with investment bankers to attract new corporate clients to securities firms.
- Determine the financial viability of alternative energy generation or fuel production systems, based on power source or feedstock quality, financing costs, potential revenue, and total project costs.
- Recommend investments and investment timing to companies, investment firm staff, or the public.
- Prepare plans of action for investment, using financial analyses.
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Qualities of a Financial Analyst
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.
Speaking: Talking to others to convey information effectively.
Writing: Communicating effectively in writing as appropriate for the needs of the audience.
Types of Financial Analyst Jobs
- Equity Research Analyst
- Accounting Analyst
- Planning Analyst
- Fiscal Analyst
- Chartered Financial Analyst (CFA)
Job Outlook for Financial Analysts
In the United States, there were 296,100 jobs for Financial Analyst in 2016. 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. The BLS estimates 29,000 yearly job openings in this field.
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.
Financial Analyst Salary
The average yearly salary of a Financial Analyst ranges between $52,540 and $167,420.
Financial Analysts who work in New York, California, or New Jersey, make the highest salaries.
Below is a list of the median annual salaries for Financial Analysts in different U.S. states.
| 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
- SAS
- Microsoft Dynamics
- IBM Notes
- Microsoft Visual Basic
- Google Docs
- FileMaker Pro
How do I Become a Financial Analyst?
Are there Financial Analysts education requirements?
What work experience do I need to become a Financial Analyst?
Where do Financial Analysts Work?
Financial Analysts work in the following industries:
References:
Image Credit: Dave Dugdale via Creative Commons Attribution-Share Alike 2.0 Generic
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