Financial Analysts: Salary, Job Description, How To Be One and More

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Financial Analysts jobs information
pros and cons of being a Financial Analyst

Financial Analysts

Other names for this job might include Alternative Financing Specialist, Bank Analyst, Banking Analyst, Bond Analyst, Budget Analyst, Chartered Financial Analyst (CFA), Commodity Analyst, Corporate Financial Analyst, Corporate Securities Research Analyst, Corporate Statistical Financial Analyst


  • $95320
    Salary
  • 68%
    Job satisfaction
  • Quite Hard
    Becoming one
  • High
    Job growth
OwlGuru Rank

B+



Financial Analysts: Know It All In 1 Minute


In this career summary, you will find out what the job of A Financial Analyst is about and what it is like.

After reading this, you will have a good idea on what the job is about and decide if this is the right career for you.



Job description

Financial Analysts conduct quantitative analyses of information affecting investment programs of public or private institutions.

  • Draw charts and graphs, using computer spreadsheets, to illustrate technical reports.
  • Inform investment decisions by analyzing financial information to forecast business, industry, or economic conditions.
  • Monitor developments in the fields of industrial technology, business, finance, and economic theory.
  • Interpret data on price, yield, stability, future investment-risk trends, economic influences, and other factors affecting investment programs.

Read more about what does A Financial Analyst really do at work and what is it like being and working as one.


Become one

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Salary

Average salary
$95320 per year

Hourly wage
$45.83 an hour


Financial Analysts with little to no experience tend to make between $49450 and $61650 while the more experienced ones make over $110390 per year.

Top 5 paying statesHourlyAnnual
NY$58.73$122170
VT$52.72$109660
CA$51.45$107010
CO$51.08$106240
MA$50.55$105130

1 of the easiest ways to increase your salary as A Financial Analyst is to move to a higher paying state like NY. Right now, the highest paying states for Financial Analysts are NY, VT, CA, CO and MA.

However a higher pay at NY doesn’t guarantee that you will make more because the living expenses at NY might be 2x higher than where you are currently at now.

3 other factors that can increase your salary as A Financial Analyst is the degree you hold, the industry you work in and lastly the company you work for (bigger companies like the Fortune 500 companies tend to pay more).

Find out how much do successful Financial Analysts make and if their salary is high when compared to all the other careers.


Requirements

Recommended degree level
Bachelor’s Degree

We asked other Financial Analysts what degree they had when they got the job and most of them said they had a Bachelors degree followed by Master’s degree.

Other than that we also asked them what did they major in and here are the most popular majors that came up.

Financial Mathematics
Accounting and Finance
Accounting and Business/Management
Finance, General
International Finance

Another popular question from our readers is what makes A Financial Analyst successful or would they be good in this career.

Well, we found that most successful Financial Analysts have these 5 skillsets.

Reading Comprehension
Writing
Critical Thinking
Speaking
Active Listening

In addition to that, 1 common characteristic among successful Financial Analysts is they are good at Attention to Detail. Here are the top 5 common characteristics.

Attention to Detail
Stress Tolerance
Dependability
Persistence
Integrity
= Hot in-demand that most employers are looking for

Read more about what it really takes to become A Financial Analyst and the degree, training and education you need


Pros and Cons

Here are some reasons why you should and shouldn’t choose A Financial Analyst as your career.

PROS
Suitable for people who likes to follow routines
Suitable for people who values achievements and are resultsoriented
This career is perfect for people who love to work indoors.
Very high salary (top 25% highest paid careers)
CONS
Not suitable for people who likes to help and teach others
It is hard to get into this career. A considerable amount of workrelated skill, knowledge, or experience is required for this career.
Long working hours (More than 40 hours per week)


There will be pros and cons for all jobs. The point is how much do the pros outweigh the cons to you.

A pro to you might be a con to Bob. A pro to Bob might be a con to you. We suggest reading about this career framework that can help you to find out what type of careers are right for you.



What is the job like

Job satisfaction
68%

Is this job meaningful
39%


Working hours
More than 40 hours per week

Working schedule
Regular (Set schedule and routine)


On a normal working week Financial Analysts work More than 40 hours per week.

68% of Financial Analysts said they were satisfied with their job and 39% said they feel like their job is making other people’s lives better.



Is this right for me

Best personality for this career
The Organizers and The Thinkers


You can read more about these career personality types here.

People who are suitable for this job tends to like following set procedures and routines. They like working with data and details more than with ideas.

They also like working with ideas, and require an extensive amount of thinking. They like searching for facts and figuring out problems mentally.



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Related to Financial Analysts Career Information

Financial Analysts job description, Financial Analysts salary, Financial Analysts information, what is the job of a Financial Analyst like, pros and cons about Financial Analysts, colleges and universities for Financial Analysts, is Financial Analysts the right career for me, Quite Hard careers to get into, careers in Business and Finance

Additional resources

http://www.bls.gov/OOH/business-and-financial/financial-analysts.htm
http://www.finra.org/
http://gafm.com/
https://www.cfainstitute.org/

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Financial Analysts
Written by: Stanley Tan
Financial Analysts conduct quantitative analyses of information affecting investment programs of public or private institutions.
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