All About Financial Analysts
Financial Analyst Definition Conduct quantitative analyses of information affecting investment programs of public or private institutions.
What Do Financial Analysts Do On a Daily Basis?
- Collaborate with investment bankers to attract new corporate clients to securities firms.
- Interpret data on price, yield, stability, future investment-risk trends, economic influences, and other factors affecting investment programs.
- Recommend investments and investment timing to companies, investment firm staff, or the public.
- Monitor developments in the fields of industrial technology, business, finance, and economic theory.
- Research and recommend environmentally-related financial products, such as energy futures, water rights, carbon credits, government environmental funds, and cleantech industry funds and company stocks.
- Determine the prices at which securities should be syndicated and offered to the public.
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What Every Financial Analyst Should Know
When polled, Financial Analysts say the following skills are most frequently used in their jobs:
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.
Speaking: Talking to others to convey information effectively.
Writing: Communicating effectively in writing as appropriate for the needs of the audience.
Types of Financial Analyst Jobs
- Equity Research Analyst
- Trust Officer
- Financial Systems Analyst
- Portfolio Analyst
- Securities Research Analyst
Financial Analyst Employment Estimates
In 2016, there was an estimated number of 296,100 jobs in the United States for Financial Analyst. 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. There will be an estimated 29,000 positions for Financial Analyst per 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 average yearly salary of a Financial Analyst ranges between $52,540 and $167,420.
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 |
Tools & Technologies Used by Financial Analysts
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
- SAS
- Microsoft Dynamics
- IBM Notes
- Microsoft Visual Basic
- Google Docs
- FileMaker Pro
Becoming a Financial Analyst
What education is needed to be a Financial Analyst?
What work experience do I need to become a Financial Analyst?
Where do Financial Analysts Work?
Financial Analysts work in the following industries:
References:
Image Credit: Dave Dugdale via Creative Commons Attribution-Share Alike 2.0 Generic
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