Financial Analysts conduct quantitative analyses of information affecting investment programs of public or private institutions.
- Inform investment decisions by analyzing financial information to forecast business, industry, or economic conditions.
- Prepare plans of action for investment, using financial analyses.
- 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.
Financial Analysts with little to no experience tend to make between $52540 and $65350 while the more experienced ones can earn over $116360 per year.
|Top 5 paying states||Hourly||Annual|
One of the easiest ways to increase your salary as a Financial Analyst is to move to a higher paying state like WY. Right now, the highest paying states for Financial Analysts are WY, NY, CA, CO and NJ.
However, a higher pay at WY doesn’t guarantee that you will make more because the living expenses at WY might be twice as high than where you are currently at now.
Three 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.
We asked other Financial Analysts what degree they had when they got the job and most of them said they had a Bachelor’s Degree followed by a 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.
|Accounting and Finance|
|Accounting and Business/Management|
Pros and Cons
Here are some of the pros and cons of being a Financial Analyst.
|Suitable for people who likes to follow routines|
|Suitable for people who values achievements and are results-oriented|
|This career is perfect for people who love to work indoors.|
|Very high salary (top 25% highest paid careers)|
|Not suitable for people who likes to help and teach others|
|It is hard to get into this career. A considerable amount of work-related skill, knowledge, or experience is required for this career.|
|Long working hours (More than 40 hours per week)|
What is the job like
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
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.
resolve disputes between workers and managers, negotiate collective bargaining agreements, or coordinate grievance procedures to handle employee complaints.
buy merchandise or commodities, other than farm products, for resale to consumers at the wholesale or retail level, including both durable and nondurable goods. Analyze past buying trends, sales records, price, and quality of merchandise to determine value and yield. Select, order, and authorize payment for merchandise according to contractual agreements. May conduct meetings with sales personnel and introduce new products. Includes assistant wholesale and retail buyers of nonfarm products.
perform activities in the human resource area. Includes employment specialists who screen, recruit, interview, and place workers.
monitor and evaluate compliance with equal opportunity laws, guidelines, and policies to ensure that employment practices and contracting arrangements give equal opportunity without regard to race, religion, color, national origin, sex, age, or disability.
research market conditions in local, regional, or national areas, or gather information to determine potential sales of a product or service, or create a marketing campaign. May gather information on competitors, prices, sales, and methods of marketing and distribution.
Related career information
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