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.
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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.
conduct retail activities of businesses operating exclusively online. May perform duties such as preparing business strategies, buying merchandise, managing inventory, implementing marketing activities, fulfilling and shipping online orders, and balancing financial records.
investigate, analyze, and determine the extent of insurance company's liability concerning personal, casualty, or property loss or damages, and attempt to effect settlement with claimants. Correspond with or interview medical specialists, agents, witnesses, or claimants to compile information. Calculate benefit payments and approve payment of claims within a certain monetary limit.
determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.
review settled insurance claims to determine that payments and settlements have been made in accordance with company practices and procedures. Report overpayments, underpayments, and other irregularities. Confer with legal counsel on claims requiring litigation.
analyze and manage risk management issues by identifying, measuring, and making decisions on operational or enterprise risks for an organization.
Related career information
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