What You Need to Know About Financial Analysts
Financial Analyst Example Conduct quantitative analyses of information affecting investment programs of public or private institutions.
Life As a Financial Analyst
- Forecast or analyze financial costs associated with climate change or other environmental factors, such as clean water supply and demand.
- Collaborate with investment bankers to attract new corporate clients to securities firms.
- Identify potential financial investments that are environmentally sound, considering issues such as carbon emissions and biodiversity.
- Evaluate and compare the relative quality of various securities in a given industry.
- Recommend investments and investment timing to companies, investment firm staff, or the public.
- Inform investment decisions by analyzing financial information to forecast business, industry, or economic conditions.
Qualities of a Financial Analyst
When polled, Financial Analysts say the following skills are most frequently used in their jobs:
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.
Other Financial Analyst Job Titles
- Portfolio Analyst
- Securities Consultant
- Financial Analyst
- Bond Analyst
- Renewable Energy System Finance Specialist
Is There Job Demand for Financial Analysts?
In the United States, there were 296,100 jobs for Financial Analysts in 2016.
New jobs are being produced at a rate of 10.9% which is lower than average. The Bureau of Labor Statistics predicts 32,200 new jobs for Financial Analysts 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 Analysts are New York, California, and Texas.
Watch out if you plan on working in Vermont, Maine, or Alaska. These states have the worst job growth for this type of profession.
Do Financial Analysts Make A Lot Of Money?
The typical yearly salary for Financial Analysts is somewhere between $52,540 and $167,420. The median salary is $85,660.
Below is a list of the median annual salaries for jobs of this type in different U.S. states.
| State | Annual Mean Salary |
|---|---|
|
Wyoming |
$139,660 |
|
New York |
$137,270 |
|
California |
$109,640 |
|
Colorado |
$109,120 |
|
New Jersey |
$106,100 |
|
Connecticut |
$105,950 |
|
Massachusetts |
$105,540 |
|
New Mexico |
$103,040 |
|
District of Columbia |
$102,510 |
|
Alaska |
$101,720 |
|
Montana |
$99,630 |
|
Virginia |
$97,990 |
|
Texas |
$94,980 |
|
New Hampshire |
$94,680 |
|
Pennsylvania |
$93,870 |
|
Delaware |
$93,740 |
|
Minnesota |
$93,160 |
|
Maryland |
$92,800 |
|
Oregon |
$92,640 |
|
Missouri |
$91,800 |
|
North Carolina |
$89,020 |
|
Illinois |
$88,760 |
|
Alabama |
$88,350 |
|
Washington |
$87,590 |
|
Michigan |
$84,410 |
|
Georgia |
$84,350 |
|
Vermont |
$84,300 |
|
Nevada |
$83,370 |
|
Iowa |
$83,230 |
|
North Dakota |
$82,770 |
|
Wisconsin |
$81,000 |
|
South Carolina |
$80,690 |
|
Rhode Island |
$80,650 |
|
Ohio |
$80,060 |
|
Maine |
$79,610 |
|
Hawaii |
$78,800 |
|
Arizona |
$78,650 |
|
Utah |
$78,510 |
|
Indiana |
$78,290 |
|
Florida |
$78,280 |
|
Arkansas |
$78,050 |
|
Kansas |
$77,130 |
|
Louisiana |
$75,630 |
|
West Virginia |
$75,290 |
|
Idaho |
$75,280 |
|
Tennessee |
$74,870 |
|
Mississippi |
$74,230 |
|
South Dakota |
$73,870 |
|
Nebraska |
$70,740 |
|
Oklahoma |
$70,300 |
|
Kentucky |
$69,830 |
What Tools do Financial Analysts Use?
Although they’re not necessarily needed for all jobs, the following technologies are used by many Financial Analysts:
- Microsoft Exchange Server
- SAP Business Objects
- SAP Crystal Reports
- Tax software
- Teradata Database
- Healthcare common procedure coding system HCPCS
- IBM SPSS Statistics
- Microsoft Office
- Epic Systems
- Structured query language SQL
Becoming a Financial Analyst
Are there Financial Analyst education requirements?
How Long Does it Take to Become Financial Analyst?
Who Employs Financial Analysts?
References
Image Credit: Via Wikimedia Commons
Course Advisor provides higher-education, college and university, degree, program, career, salary, and other helpful information to students, faculty, institutions, and other internet audiences. Presented information and data are subject to change. Inclusion on this website does not imply or represent a direct relationship with the company, school, or brand. Information, though believed correct at time of publication, may not be correct, and no warranty is provided. Contact the schools to verify any information before relying on it. Financial aid may be available for those who qualify. The displayed options may include sponsored or recommended results, not necessarily based on your preferences.
© Course Advisor – All Rights Reserved.