WHAT DO FINANCIAL ANALYSTS DO?
Financial analysts are fortune tellers, if you think about it. Financial analysts guide people and businesses in making investments. Whether it's through the stock market, bonds, or other investments, financial analysts are money wizards. They analyze the information they get from the stock market, investment portfolio prospecti, company annual reports and conjure up plans for investing or not investing. Financial analysts meet with companies leaders and individuals, write reports and work with a wide range of people and financial institutions.
Types of financial analysts include portfolio managers, fund managers, ratings analysts and risk analysts.
HOW MUCH DO FINANCIAL ANALYSTS MAKE?
The Bureau of Labor Statistics (BLS) reports that the 2010 median hourly income for financial analysts was $35.75 an hour, or $73,350 a year.
WHAT ARE THE EDUCATION REQUIREMENTS?
Financial analysts must have at least a bachelor's degree in a field like accounting, finance, economics, business or something similar. Some jobs and employers will want applicants to have a master's in business administration (MBA) or a master's degree. In addition, you will need to know about stocks, bonds, and the financial world. Many financial analyst jobs require licensure from the Financial Industry Regulatory Authority (FINRA).
Certification is also available.
JOB SKILLS AND REQUIREMENTS
- Analytic Skills: You must be able to digest a lot of different information, from various resources, and make decisions that will result in profits for your clients.
- Communication Skills: You must be able to listen to your clients to understand what they want, and communicate with your clients to explain your recommendations.
- Attention to Detail: When reviewing investment opportunities, small details can have big effects. You need to be able to pay attention.
- Math Skills: You will be making complex financial calculations and estimating value.
- Technical Skills: Many financial analysts use special financial software and work with computers every day.
CAREER PATHS FOR FINANCIAL ANALYSTS
THE FUTURE OF FINANCIAL ANALYSTS
The future looks good! Financial analyst jobs will grow by 23% from 2010 to 2020, faster than most other jobs, according to the BLS.