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.
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.
$95320 per year
$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 states||Hourly||Annual|
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).
Recommended degree level
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.
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.
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 |
= Hot in-demand that most employers are looking for
Pros and Cons
Here are some reasons why you should and shouldn’t choose A Financial Analyst as your career.
|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)|
|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
Is this job meaningful
More than 40 hours per week
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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They examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
They analyze financial information and prepare financial reports to determine or maintain record of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
They examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports.
They analyze and manage risk management issues by identifying, measuring, and making decisions on operational or enterprise risks for an organization.
They 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.
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Career type Business and Finance
Green Enhanced Skills
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Business Financial Management and Accounting
Business Financial Management, Financial and Investment Planning
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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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