All About Financial Analysts
Financial Analyst Definition Conduct quantitative analyses of information affecting investment programs of public or private institutions.
Life As a Financial Analyst: What Do They Do?
- Interpret data on price, yield, stability, future investment-risk trends, economic influences, and other factors affecting investment programs.
- Present oral or written reports on general economic trends, individual corporations, and entire industries.
- Recommend investments and investment timing to companies, investment firm staff, or the public.
- Collaborate with investment bankers to attract new corporate clients to securities firms.
- Inform investment decisions by analyzing financial information to forecast business, industry, or economic conditions.
- Identify potential financial investments that are environmentally sound, considering issues such as carbon emissions and biodiversity.
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What a Financial Analyst Should Know
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.
Other Financial Analyst Job Titles
- Analyst
- Statistical Financial Analyst
- Pricing Specialist
- Portfolio Analyst
- Alternative Financing Specialist
Are There Job Opportunities for Financial Analysts?
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. 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.
Do Financial Analysts Make A Lot Of Money?
The typical yearly salary for Financial Analysts is somewhere between $52,540 and $167,420.
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 do I Become a Financial Analyst?
What education is needed to be a Financial Analyst?
How Long Does it Take to Become a Financial Analyst?
Where Financial Analysts Work
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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