All About Financial Analysts
Financial Analyst Job Description Conduct quantitative analyses of information affecting investment programs of public or private institutions.
What Do Financial Analysts Do On a Daily Basis?
- Evaluate and compare the relative quality of various securities in a given industry.
- Determine the prices at which securities should be syndicated and offered to the public.
- Monitor developments in the fields of industrial technology, business, finance, and economic theory.
- Forecast or analyze financial costs associated with climate change or other environmental factors, such as clean water supply and demand.
- Inform investment decisions by analyzing financial information to forecast business, industry, or economic conditions.
- Purchase investments for companies in accordance with company policy.
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Financial Analyst Skills
Financial Analysts state the following job skills are important in their day-to-day work.
Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Mathematics: Using mathematics to solve problems.
Writing: Communicating effectively in writing as appropriate for the needs of the audience.
Speaking: Talking to others to convey information effectively.
Other Financial Analyst Job Titles
- Bond Analyst
- Financial Systems Analyst
- Investor
- Chartered Financial Analyst (CFA)
- Mutual Fund Accountant
Is There Going to be Demand for Financial Analysts?
In the United States, there were 296,100 jobs for Financial Analyst in 2016. New jobs are being produced at a rate of 10.8% which is above the national average. The Bureau of Labor Statistics predicts 32,100 new jobs for Financial Analyst by 2026. Due to new job openings and attrition, there will be an average of 29,000 job openings in this field each year.
The states with the most job growth for Financial Analyst are Utah, Arizona, and Tennessee. Watch out if you plan on working in Maine, Alaska, or Mississippi. These states have the worst job growth for this type of profession.
How Much Does a Financial Analyst Make?
The salary for Financial Analysts ranges between about $52,540 and $167,420 a year.
Financial Analysts who work in New York, California, or New Jersey, make the highest salaries.
Below is a list of the median annual salaries for Financial Analysts in different U.S. states.
| State | Annual Mean Salary |
|---|---|
| Alabama | $88,350 |
| Alaska | $101,720 |
| Arizona | $78,650 |
| Arkansas | $78,050 |
| California | $109,640 |
| Colorado | $109,120 |
| Connecticut | $105,950 |
| Delaware | $93,740 |
| District of Columbia | $102,510 |
| Florida | $78,280 |
| Georgia | $84,350 |
| Hawaii | $78,800 |
| Idaho | $75,280 |
| Illinois | $88,760 |
| Indiana | $78,290 |
| Iowa | $83,230 |
| Kansas | $77,130 |
| Kentucky | $69,830 |
| Louisiana | $75,630 |
| Maine | $79,610 |
| Maryland | $92,800 |
| Massachusetts | $105,540 |
| Michigan | $84,410 |
| Minnesota | $93,160 |
| Mississippi | $74,230 |
| Missouri | $91,800 |
| Montana | $99,630 |
| Nebraska | $70,740 |
| Nevada | $83,370 |
| New Hampshire | $94,680 |
| New Jersey | $106,100 |
| New Mexico | $103,040 |
| New York | $137,270 |
| North Carolina | $89,020 |
| North Dakota | $82,770 |
| Ohio | $80,060 |
| Oklahoma | $70,300 |
| Oregon | $92,640 |
| Pennsylvania | $93,870 |
| Rhode Island | $80,650 |
| South Carolina | $80,690 |
| South Dakota | $73,870 |
| Tennessee | $74,870 |
| Texas | $94,980 |
| Utah | $78,510 |
| Vermont | $84,300 |
| Virginia | $97,990 |
| Washington | $87,590 |
| West Virginia | $75,290 |
| Wisconsin | $81,000 |
| Wyoming | $139,660 |
What Tools do Financial Analysts Use?
Below is a list of the types of tools and technologies that Financial Analysts may use on a daily basis:
- Microsoft Excel
- Microsoft Word
- Microsoft Office
- Microsoft PowerPoint
- Microsoft Outlook
- Microsoft Access
- Data entry software
- SAP
- Data visualization software
- Microsoft Project
- Microsoft SharePoint
- Microsoft Visio
- Structured query language SQL
- The MathWorks MATLAB
- Microsoft Dynamics
- SAS
- IBM Notes
- Microsoft Visual Basic
- Google Docs
- FileMaker Pro
Becoming a Financial Analyst
What kind of Financial Analyst requirements are there?
How Long Does it Take to Become a Financial Analyst?
Where Financial Analysts Are Employed
The table below shows the approximate number of Financial Analysts employed by various industries.
References:
Image Credit: Dave Dugdale via Creative Commons Attribution-Share Alike 2.0 Generic
More about our data sources and methodologies.
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