More often than not, we find ourselves dealing with finances of some sort. They may involve expenses, investments or other economic matters. Put that type of scenario in a large scale and what you’ll get are businessmen and corporations dealing with vast amounts of money. It can be a really confusing situation thinking of how these organizations keep watch over such matters which involve important investments and business updates. This is where the role of a financial analyst comes in. Financial analysts are individuals who serve as a guide for other individuals and businesses when they make investments. Hence, they are key people when it comes to evaluating the potentials of a certain business or investment. The job that they are tasked with can be really complex and involve a lot of work. Considering this, have you ever thought of what a financial analyst salary might look like? The answer to that question and other information related to financial analysts will be revealed in this article.
For anyone who considers a career as a financial analyst, one of your considerations would most likely include the pay and job outlook. Currently, the job outlook for financial analysts looks really promising. There is an expected 23 percent growth in employment for this career. Such an increase is expected due to a need for people who are capable of analyzing trends in business and markets found in different geographic regions. Aside from this, more businesses are in emergence and that certainly springs up a need for people who specialize in this area. Financial analysts are hard workers who typically work more than 40 hours per week. In a lot of instances, their job would demand them to work for as much as 50 to 70 hours a week. It is apparent how these individuals can be so busy; thus you might end up thinking that a financial analyst salary would look more than favorable. The fact of the matter is, financial analysts received a median annual wage of $74,350 for the year 2010.This would mean that an entry level financial analyst salary or those who receive pay that belong to the lowest 10% received an annual rate of $44,490 for that year. On the other hand, for the more experienced ones, a senior financial analyst salary or the pay received by those who belong to the top 10% was about $141,700.  Financial analysts can be found employed by a variety of companies such as banks, credit institutions, brokerage firms and insurance companies. However, many financial analysts work in financial firms located in big cities.
It is no wonder that financial analysts get to be paid really handsomely. The nature of their work can really demand a lot of their time, effort and attention. Aside from doing work in the office, they can be seen travelling to and from different locations for potential investments. They communicate with a number of people including clients, companies and investors and on top of that; they also should take note of looming deadlines. It is also important for them to be on track with the latest economic and business trends when giving out recommendations to clients. Thus, you can just imagine how financial analysts, especially the rookies in the field, might end up being a little bit too consumed with their work. However, it is good to note that financial analysts also get bonuses which would be a significant addition to their pay. They are indeed very worthy to receive such rewards due to the amount of responsibility bestowed upon them.
To become a financial analyst, one must finish a bachelor’s degree. Although a degree from any major is acceptable, it is ideal for the candidate to possess a degree in fields such as accounting and economics. For those aiming to climb higher in the employment ladder, a master’s degree is typically required. Aside from education, anyone who would like to work as a financial analyst must be really dedicated in the kind of work that they do. Considering how these individuals need to complete heaps and heaps of paper work, keep themselves updated with the latest trends in finance and marketing, how they need to constantly deal with clients and all other sorts of work that they have to attend to; it is without a doubt that financial analysts are individuals who are truly worthy of recognition.
- “Financial Analysts”. Bureau of Labor Statistics. Retrieved August 22, 2013.