Financial analysts | Data USA (2024)

FAQs

Is Financial Analyst a good career in USA? ›

Financial Analyst Salary and Job Outlook

According to the U.S. Bureau of Labor & Statistics, the median pay in 2021 for Financial Analysts was $96,000. Financial analytics is ranked as the 13th best business job currently available.

There were over 373,000 available Financial Analyst positions in 2021. The unemployment was 4.1% for Financial Analysts in 2021. In the decade from 2021-2031, financial analytics is projected to experience a 9% growth rate. This is above the national average.

In this highly competitive job market, a master's degree gives an applicant a boost. A successful career as a financial analyst requires strong quantitative skills, expert problem-solving abilities, adeptness in logic, and above-average communication skills.

Financial Advisors Can Make Six Figures a Year: Here's How To Become One. Being a financial advisor has its pros and cons. Among the downsides: long working hours and potential challenges growing your business.

Financial Analyst Education Requirements

Most firms require candidates to have at least a bachelor's degree. The CFA Institute recommends a finance-related major such as a bachelor's degree in finance, accounting, statistics, economics or general business.

Achieving a healthy work-life balance is particularly vital for Financial Analysts, who often face long hours, tight deadlines, and the stress of high-stakes decision-making.

Financial Analyst Degree and Educational Requirements. There is no specific degree required for a career as a financial analyst, but finding a job will probably be easier if you have a bachelor's degree, and most companies require it. Nearly all financial analysts start with an internship or entry-level position.

Do you need an MBA to be a financial analyst? ›

Getting your MBA in finance can certainly help you secure a career as a financial analyst – but it's not necessarily required. What matters most is having a good foundation in finance, problem-solving, analytical skills, industry tools, and market knowledge.

Learn to Code

People who want to be financial analysts are generally technical people. You might be a person who loves numbers, but what if numbers don't make sense to you? You need to learn how to code, so you can make sense of financial data and present data in a way that is easy for others to understand.

The workforce of Financial analysts in 2021 was 273,293 people, with 41.4% woman, and 58.6% men. The average age of male Financial analysts in the workforce is 37.6 and of female Financial analysts is 40.6, and the most common race/ethnicity for Financial analysts is White.

Financial analysts may work at institutions that are based in large cities. Financial analysts work primarily in offices but may travel to visit companies or clients.

Top cities for Financial Analysts based on the aforementioned factors are San Francisco, San Jose, New York City, Houston, and Charlotte. The role of a Financial Analyst is crucial in guiding organizational investment decisions and they generally receive competitive salaries.

The field is also growing at a steady pace. The BLS projects employment for financial and investment analysts to grow by 8% from 2022 to 2032, which is faster than the average projected growth for all jobs. This amounts to about 29,000 new financial analyst jobs by 2032.

The U.S. Bureau of Labor Statistics (BLS) projects that business and finance jobs will be in demand from 2022 to 2032, with 911,400 openings on average each year. Certain roles within finance, like financial examiner, are expected to grow over six times faster than the rate for all occupations nationwide.

While finance degrees overall may not pay more than other educational tracks, there are plenty of finance-related jobs that are lucrative. Some of the careers that pay the most, such as investment banking, involve long hours, so if you are concerned about work-life balance you might want to consider another career.

Your basic schedule will be 40 hours during the week, but financial analysts often work overtime to present their research on time. Your employer might ask you to work in the early morning, at night or over the weekend.