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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.

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

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.

Salary Ranges for Financial Analysts

Below is a list of the median annual salaries for jobs of this type in different U.S. states.

Annual Mean Salary by State
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?

Financial Analyst Degree Level

How Long Does it Take to Become Financial Analyst?

Financial Analyst Work Experience

Who Employs Financial Analysts?

Financial Analyst Sectors

References

Bureau of Labor Statistics

College Factual

O*NET Online

Image Credit: Via Wikimedia Commons

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