What Do Financial Analyst Do?
Financial Analyst Example Conduct quantitative analyses of information affecting investment programs of public or private institutions.
What Do Financial Analysts Do On a Daily Basis?
- Conduct financial analyses related to investments in green construction or green retrofitting projects.
- Collaborate with investment bankers to attract new corporate clients to securities firms.
- 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.
- Forecast or analyze financial costs associated with climate change or other environmental factors, such as clean water supply and demand.
- 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.
- Recommend investments and investment timing to companies, investment firm staff, or the public.
What a Financial Analyst Should Know
Financial Analysts state the following job skills are important in their day-to-day work.
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 Jobs
- Portfolio Manager
- Corporate Statistical Financial Analyst
- Bond Analyst
- Treasury Analyst
- Investments Manager
Financial Analyst Job Outlook
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. There will be an estimated 29,000 positions for Financial Analyst per 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?
Financial Analysts make between $52,540 and $167,420 a year.
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 do I Become a Financial Analyst?
Are there Financial Analysts education requirements?
How Long Does it Take to Become a Financial Analyst?
Where do 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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