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.
I’m a Sr. Consultant, basically a financial analyst. My typical day My typical day varies depending on the time of the month and season of the year. I have some accounting-type duties at month-end and then I jump right in to reporting the monthly results. My job includes some accounting functions, building reports, analyzing data, … Read More
I am a financial analyst and my day revolves around collecting information and plotting them on spreadsheets and reports. I also get a deeper look at non-legal pertinent information about prospective deals. Preparing a plan of action based on my financial analysis, on the other hand, takes most of my time and days. Pros The … Read More
As a financial analyst, I can assure you that a single day’s routine cannot describe my professional life. My day at the office is stressful at times and the other times I enjoy it a lot because I have a lot to learn about, especially when I have to analyze the research and discuss the … Read More
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.
Related career information
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