If you’ve selected a career as a financial analyst, you’ve made a good choice. Financial analysts earn a comfortable salary and are in demand, most commonly in New York City or other large cities. They work with clients as financial consultants, analyzing financial trends and recommending investment options.
Job Roles and Responsibilities
Financial analysts review financial data and recommend ways for clients to invest. They are also referred to as securities analysts or investment analysts. They may work in an office setting, or may travel to individual clients on a consultation basis. Common responsibilities include:
- Evaluating a client’s financial data: both current and historic.
- Making investment portfolio recommendations based on economic and business trends.
- Determining a client’s value based on its financial statements.
- Meeting with client representatives to learn more about the company.
- Preparing written reports.
Education and Licensure Requirements
As a financial analyst, you’ll need a minimum of a bachelor’s degree in one of the following fields: accounting, finance, economics, statistics, mathematics or engineering. Some employers also require a master’s degree in business (MBA) or finance. Most financial analysts also must obtain licensure from the Financial Industry Regulatory Authority (FINRA); however, many employers cover the cost of this licensure, so financial analysts can obtain it after securing a job.
The most common industry segment in which financial analysts were employed in 2012 according to the Bureau of Labor Statistics is large financial institutions—21 percent of all financial analysts worked in securities, commodity contract, and other financial investments. Other common industries include credit companies; professional, technical and scientific services; management; and insurance carriers. From 2012–2022, the job growth for financial analysts is expected to be 16 percent, faster than average.
According to the Bureau of Labor Statistics, in 2012, the average annual salary for financial analysts was $76,950. Those working for large financial institutions earned more than average at $90, 560. The lowest ten percent of workers earned less than $47,130, while the top ten percent earned more than $148, 430.
Are you a financial analyst looking for your next position?
If so, contact Accountable Search. Our Chicago-based staffing firm places financial analysts with positions that meet your career needs and requirements. To learn more, contact an Accountable Search recruiter today.