Becoming a Financial Analyst Is a Great Idea
- Range of Work Environments
- Opportunities for Advancement
- High-adrenaline Environment
- Many Job Opportunities
- Potential for High Earnings
A person who is interested in economics, finance, or business should know about these five reasons to become a financial analyst. A financial analyst is a person who provides guidance to individuals and businesses that want to make investments. These professionals analyze investments, such as stocks, bonds, real estate properties, and other types of investments.
Range of Work Environments
Financial analysts are employed in many different industries. They work in investment firms that trade bonds, stocks, mutual funds, and other products. They may also work in professional, scientific, or technical services. Another work environment for financial analysts is credit intermediation and related activities. Some financial analysts work in the management of companies or nonprofit organizations. There are also financial analysts employed in the insurance industry. Large cities, states, and the federal government also employ financial analysts in their budgeting departments.
Opportunities for Advancement
The world of finance has many opportunities for advancement. After some work experience in financial analysis, a person could advance into a managerial position. Some analysts break out and open their own financial advising or analysis firm. A person who excels in financial analysis could also move up the chain of command in a large organization or corporation, eventually becoming a chief financial officer, investments manager, or budgeting director.
High-adrenaline Environment
Some people thrive on a high-energy or high-adrenaline environment. People who like to work in a place that is always busy will be excited by jobs in financial analysis. There is always something new to analyze, research, or think about in the world of finance. People who like to work with other people will also do well in financial analysis. This is because a lot of a financial analyst’s work is related to meeting with and making calls to clients.
Many Job Opportunities
The expected rate of growth of jobs for financial analysts is six percent between May 2018 and May 2028. This is about as fast as the national average rate of growth for all occupations, which is five percent between May 2018 and May 2028. A person who has certifications in financial analysis or a degree in finance, economics, business administration, or a related area of expertise will have the best chances of getting a great job offer. There will be a lot of demand for financial analysis jobs in large corporations that rely on big data and in location-based analysis.
Potential for High Earnings
According to the Bureau of Labor Statistics, the median annual salary of financial analysts was $85,660 as of May 2018. This is the salary amount at which half of the workers earned less and half of the workers earned more. The financial analysts who are employed in the securities, commodity contracts, and other financial related activities industry had the highest median annual salaries, which surpassed $101,000 per year. Financial analysts who become managers also have annual salaries averaging more than $101,000 per year.
Conclusion
Financial analysts provide their clients with information so that they can make informed decisions about where to put their money. By recommending individual investments or investment collections, such as portfolios, the analysts could help their clients grow their money faster than what would be possible if they had to do the research on their own. A career as a financial analyst could be personally and professionally rewarding.
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