|What does a financial analyst do?
Financial analysts help people decide how to invest their money.
They work for banks, insurance companies, mutual funds, and securities
firms. They often meet with company officials to learn more about
the firms in which they want to invest. After the meeting, they
write reports and give talks about what they found out. Then they
suggest buying or selling that firm's stock.
Financial analysts may specialize. Those in investment banking
study the companies that want to sell stock to the public for
the first time. They also might study the pros and cons of a merger
or takeover. Financial analysts who are called ratings analysts
find out if companies that issue bonds can repay their debt.
Financial analysts usually work in offices. They may work long
hours. Some may have to travel to visit clients or talk to investors,
sometimes on evenings or weekends. Many also face the pressure
of deadlines. They may do research on various firms after office
hours, because their day is filled with telephone calls and meetings.
|How do you get ready to become a financial analyst?
Most financial analysts have a college degree in business, accounting,
statistics, or finance. A master's degree in business administration
(MBA) is desirable.
Math, computer, and problem-solving skills are vital. Working
with clients requires good people skills. Confidence, maturity,
and the ability to work on your own also are important. They need
good communication skills to present complex financial concepts
in simple language.
Financial analysts must like to seek out obscure facts and details.
They also should know how the economy, tax laws, and money markets
|How much does a finacial analyst get?
The middle half of all financial analysts earned from $43,660
and $76,620 a year in 2002. The lowest-paid 10 percent made less
than $34,570. The highest-paid 10 percent made more than $108,060.
Many financial analysts also get a bonus. The bonus can add a
lot to their earnings.
There were 298,000 financial analysts and personal financial
advisors in 2002. About 6 in 10 of that total were financial analysts.
Many work at the head offices of big financial firms. New York
City is a big center for this kind of work.
Employment of financial analysts should grow about as fast as
the average for all occupations through 2012. Mutual funds will
need more financial analysts to recommend which financial products
to buy or sell. They also will work in investment banks to help
raise money and work on mergers. However, competition is expected
for some financial analyst jobs, because many people want these
|Are there other jobs like this?
- Financial managers
- Insurance sales agents
- Real estate agents
- Securities, commodities, and financial services sales representatives
|Where can you find more information?
More information about financial analysts and personal financial
advisors can be found in the Careers Database.
Occupational Outlook Handbook -- U.S. Department of Labor Bureau
of Labor Statistics