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Financial Analyst

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What Does it Take to Be a Financial Analyst?

Position Description Conduct quantitative analyses of information affecting investment programs of public or private institutions.

A Day in the Life of a Financial Analyst

  • Monitor developments in the fields of industrial technology, business, finance, and economic theory.
  • Prepare plans of action for investment, using financial analyses.
  • Evaluate financial viability and potential environmental benefits of cleantech innovations to secure capital investments from sources such as venture capital firms and government green fund grants.
  • Purchase investments for companies in accordance with company policy.
  • Present oral or written reports on general economic trends, individual corporations, and entire industries.
  • Forecast or analyze financial costs associated with climate change or other environmental factors, such as clean water supply and demand.

Things a Financial Analyst Should Know How to Do

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.

  • Real Estate Analyst
  • Mutual Fund Accountant
  • Pricing Analyst
  • Corporate Statistical Financial Analyst
  • Stock 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. The BLS estimates 29,000 yearly job openings in this field.

Forecasted Number of Jobs for Financial Analysts in U.S.

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.

What is the Average Salary of a Financial Analyst

Financial Analysts make between $52,540 and $167,420 a year.

Salary Ranges for Financial Analysts

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 & Technology 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
  • SAS
  • Microsoft Dynamics
  • IBM Notes
  • Microsoft Visual Basic
  • Google Docs
  • FileMaker Pro

How do I Become a Financial Analyst?

Education needed to be a Financial Analyst:

Financial Analyst Degree Level

How Long Does it Take to Become a Financial Analyst?

Financial Analyst Work Experience

Where Financial Analysts Are Employed

Financial Analyst Sectors

Financial Analysts work in the following industries:

Financial Analyst 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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