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Financial Analyst

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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.

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.

Forecasted Number of Jobs for Financial Analysts in U.S.

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.

Salary Ranges for Financial Analysts

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?

Financial Analyst Degree Level

What work experience do I need to become a Financial Analyst?

Financial Analyst Work Experience

Where do Financial Analysts Work?

Financial Analyst Sectors

Financial Analysts work in the following industries:

Financial Analyst 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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