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Financial Analyst

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What Do Financial Analyst Do?

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?

  • Purchase investments for companies in accordance with company policy.
  • Prepare plans of action for investment, using financial analyses.
  • Monitor fundamental economic, industrial, and corporate developments by analyzing information from financial publications and services, investment banking firms, government agencies, trade publications, company sources, or personal interviews.
  • 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.
  • Monitor developments in the fields of industrial technology, business, finance, and economic theory.
  • Draw charts and graphs, using computer spreadsheets, to illustrate technical reports.

Qualities of a Financial Analyst

Below is a list of the skills most Financial Analysts say are important on the job.

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

  • Investment Officer
  • Trust Officer
  • Finance Analyst
  • Mutual Fund Accountant
  • Investment Analyst

Financial Analyst Job Outlook

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.

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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.

Average Financial Analysts Salary

The typical yearly salary for Financial Analysts is somewhere between $52,540 and $167,420.

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Financial Analysts who work in New York, California, or New Jersey, make the highest salaries.

How much do Financial Analysts make 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?

Although they’re not necessarily needed for all jobs, the following technologies are used by many Financial Analysts:

  • 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

How to Become a Financial Analyst

What kind of Financial Analyst requirements are there?

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How many years of work experience do I need?

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Who Employs Financial Analysts?

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The table below shows the approximate number of Financial Analysts employed by various industries.

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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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