Job Description
Do you have a talent for numbers, accounting, and especially finance? A career as a Financial Analyst might be perfect for you.
Financial Analysts play a crucial role in analyzing financial options and opportunities for their companies and help make important decisions on what to invest in and in which ways.
Aside from a strong understanding of financial concepts, Financial Analysts need to keep an in-depth and up-to-date knowledge of their employer’s financial situation. They need to have strong communication skills to create and present reports and recommendations on market trends, investments, and economic decisions the company should make, including the benefits and risks involved.
Financial Analysts must be adept at working with larger teams to accomplish these goals.
Typical Duties and Responsibilities
- Inform investment decisions by analyzing financial information to forecast business, industry, or economic conditions
- Prepare plans of action for investment, using financial analyses
- Evaluate and compare the relative quality of various securities in a given industry
- 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
- 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
Education and Certifications
The position requires a bachelor’s degree in finance, accounting, or a related field (MBA preferred). A Certified Public Accountant (CPA) certification is recommended.
Skills and Experience
- Several years of experience in finance or accounting
- Demonstrated ability to assess credit risks accurately
- Ability to work with large groups or teams to implement changes resulting from financial analysis
- Multi-site experience preferred
Compensation
According to Payscale the median annual salary of a Financial Analyst with
1 Year of Experience:
- Orlando, Florida: $60,000
- Tampa, Florida: $70,000
- Jacksonville, Florida: $55,000
- Miami, Florida: $63,000
- Atlanta, Georgia: $72,000
- Chicago, Illinois: $70,000
- Houston, Texas: $72,000
- Los Angeles, California: $70,000
- New York City, New York: $80,000
- Seattle, Washington: $68,000
- Overall: $71,000
5 Years of Experience:
- Orlando, Florida: $65,000
- Tampa, Florida: $73,000
- Jacksonville, Florida: $63,000
- Miami, Florida: $72,000
- Atlanta, Georgia: $75,000
- Chicago, Illinois: $80,000
- Houston, Texas: $80,000
- Los Angeles, California: $86,000
- New York City, New York: $86,000
- Seattle, Washington: $72,000
- Overall: $76,000
Similar Job Titles
Career Path
The career path for a Financial Analyst starts with earning a bachelor’s degree in finance, accounting, or a related field, with an MBA preferred. The next step is to be recognized as a Certified Public Accountant (CPA), by passing the Uniform CPA Exam set by the American Institute of Certified Public Accountants (AICPA). There are also more specialized training and designation programs to consider, often depending upon the specific type of financial analysis one wants to pursue.
Position Trends
Financial Analysts typically earn above-average salaries, depending upon experience and proven successes.
Job Outlook
According to the U.S. Bureau of Labor Statistics, the employment of Financial Analysts is projected to grow six percent through 2028. This is an about average growth rate across all occupations and looks to be a stable one for interested candidates.
Typical Hours
The typical work hours for a Financial Analyst can be from 9 a.m. to 5 p.m. Monday through Friday in an office setting. However, longer or different hours can be necessary.
Where You Can Find Jobs
- 4 Corner Resources
- Career Builder
- Glassdoor
- Indeed
- Monster
- Zip Recruiter
Are You Interested in Becoming a Financial Analyst?
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