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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.

List of Financial Analyst Job Duties

  • Determine the financial viability of alternative energy generation or fuel production systems, based on power source or feedstock quality, financing costs, potential revenue, and total project costs.
  • Recommend investments and investment timing to companies, investment firm staff, or the public.
  • Draw charts and graphs, using computer spreadsheets, to illustrate technical reports.
  • Prepare plans of action for investment, using financial analyses.
  • Forecast or analyze financial costs associated with climate change or other environmental factors, such as clean water supply and demand.
  • 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.

Financial Analyst Needed Skills

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.

Other Financial Analyst Job Titles

  • Alternative Financing Specialist
  • Planning Analyst
  • Treasury Analyst
  • Trust Officer
  • Bond Analyst

Job Opportunities for Financial Analysts

There were about 296,100 jobs for Financial Analyst in 2016 (in the United States). 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.

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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.

How Much Does a Financial Analyst Make?

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.

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?

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

Are there Financial Analysts education requirements?

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What work experience do I need to become a Financial Analyst?

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Where Financial Analysts Work

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Financial Analysts work in the following 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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