All About Financial Analysts
Occupation Description Conduct quantitative analyses of information affecting investment programs of public or private institutions.
A Day in the Life of a Financial Analyst
- Determine the prices at which securities should be syndicated and offered to the public.
- 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.
- 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.
- Forecast or analyze financial costs associated with climate change or other environmental factors, such as clean water supply and demand.
- Purchase investments for companies in accordance with company policy.
- Monitor developments in the fields of industrial technology, business, finance, and economic theory.
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Things a Financial Analyst Should Know How to Do
Below is a list of the skills most Financial Analysts say are important on the job.
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.
Related Job Titles for this Occupation:
- Credit Products Officer
- Planning Analyst
- Bank Analyst
- Stock Analyst
- Analyst
Is There Going to be Demand for Financial Analysts?
In 2016, there was an estimated number of 296,100 jobs in the United States for Financial Analyst. 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. There will be an estimated 29,000 positions for Financial Analyst per 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.
How Much Does a Financial Analyst Make?
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.
How much do Financial Analysts make 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 |
What Tools do Financial Analysts Use?
Below is a list of the types of tools and technologies that Financial Analysts may use on a daily basis:
- 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?
Individuals working as a Financial Analyst have obtained the following education levels:
How many years of work experience do I need?
Where do Financial Analysts Work?
Below are examples of industries where Financial Analysts work:
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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