Financial analysts provide guidance to businesses and individuals making investment decisions. Financial analysts assess the performance of stocks, bonds, commodities, and other types of investments. Also called securities analysts and investment analysts, they work for banks, insurance companies, mutual and pension funds, securities firms, the business media, and other businesses, making investment decisions or recommendations.
Related job titles are: Financial Analyst, Securities Analyst, Investment Analyst, Equity Research Analyst, Credit Products Officer, Operational Risk Analyst, Planning Analyst, Research Analyst, or Real Estate Analyst.
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Important Financial Analyst Degree Information -Top of Page-
- Financial analyst positions require a bachelor's or master's degree.
- Positions may also require professional licenses and certifications.
- Keen competition is anticipated for these highly paid positions.
- Financial analysts earn high wages.
How much does a Financial Analyst make in Salary? || Financial Analyst Pay -Top of Page-
Median annual wages, excluding bonuses, of wage and salary financial analysts were $73,150 in May 2008, which is more than double the national median wage. The middle 50 percent earned a salary of between $54,930 and $99,100. The lowest 10 percent earned a salary of less than $43,440, and the highest 10 percent earned a salary of more than $141,070. Annual performance bonuses are quite common and can be a significant part of their total earnings.
What Does a Financial Analyst Do?
Financial Analyst Jobs, Job Description, and Responsibilities -Top of Page-
Financial analysts study company financial statements and analyze commodity prices, sales, costs, expenses, and tax rates to determine a company's value by projecting its future earnings. They often meet with company officials to gain a better insight into the firms’ prospects and management.
Financial analysts can be divided into two categories: buy side analysts and sell side analysts. Analysts on the buy side work for companies that have a great deal of money to invest. These companies, called institutional investors, include mutual funds, hedge funds, insurance companies, independent money managers, and nonprofit organizations with large endowments. Buy side financial analysts devise investment strategies. Conversely, sell side analysts help securities dealers, such as banks and other firms, sell stocks, bonds, and other investments.
Financial analysts generally focus on trends impacting a specific industry, region, or type of product. For example, an analyst will focus on a subject area such as the utilities industry, an area such as Latin America, or the options market. Firms with larger research departments assign analysts even narrower subject areas. They must understand how new regulations, policies, and political and economic trends may impact the investments they are watching. Risk analysts evaluate the risk in portfolio decisions, project potential losses, and determine how to limit potential losses and volatility using diversification, currency futures, derivatives, short selling, and other investment decisions.
Some experienced analysts called portfolio managers supervise a team of analysts and select the mix of products, industries, and regions for their company’s investment portfolio.
Working Conditions for Financial Analysts -Top of Page-
Financial analysts usually work in offices. They may work long hours, travel frequently to visit companies or potential investors, and face the pressure of deadlines. Much of their research must be done after office hours because their days are filled with telephone calls and meetings.
How to become a Financial Analyst || Financial Analyst Classes and Degree Programs -Top of Page-
Financial analysts must have a bachelor's degree. Many positions require a master's degree in finance or a Master of Business Administration (MBA). Positions may also require professional licenses and certifications. However, licenses and certifications are generally only earned after someone is hired.
A bachelor's or graduate degree is required for financial analysts. Most companies require a bachelor’s degree in a related field, such as finance, business, accounting, statistics, or economics. An understanding of statistics, economics, and business is essential, and knowledge of accounting policies and procedures, corporate budgeting, and financial analysis methods is recommended. An MBA or a master's degree in finance is often required. Advanced classes or knowledge of options pricing, bond valuation, and risk management are important.
Strong math, analytical, and problem-solving skills are essential qualifications for financial analysts. Good communication skills are necessary because these workers must present complex financial concepts and strategies. Self-confidence, maturity, and the ability to work independently are important. Financial analysts must be detail-oriented, motivated to seek out obscure information, and familiar with the workings of the economy, tax laws, and money markets. Although much of the software they use is proprietary, financial analysts must be comfortable working with spreadsheets and statistical packages.
Although not always required, certifications enhance professional standing and are recommended by employers. Certifications are becoming increasingly common.
Where are the Financial Analyst Jobs? -Top of Page-
Financial analysts held 250,600 jobs in 2008. Many financial analysts work at large financial institutions based in New York City or other major financial centers. About 47 percent of financial analysts worked in the finance and insurance industries, including securities and commodity brokers, banks and credit institutions, and insurance carriers. Others worked throughout private industry and government.
Financial Analyst Job Opportunities and Outlook -Top of Page-
As the level of investment increases, overall employment of financial analysts is expected to increase by 20 percent during the 2008–18 decade, which is much faster than the average for all occupations. Primary factors for this growth are increasing complexity and global diversification of investments and growth in the overall amount of assets under management. As the number and type of mutual and hedge funds and the amount of assets invested in these funds increase, companies will need more financial analysts to research and recommend investments. As the international investment increases, companies will need more analysts to cover the global range of investment options.