Should I Consider Becoming a Financial Analyst?

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Becoming a financial analyst is a sound decision for those with a knack for handling money. Technological advances have created a world where investment has become fully automated and investors can sit at home in their pajamas and either win or lose a fortune. However, that kind of risk isn’t always appealing to responsible investors.

Instead, investors who want sound advice about where to put their money look to someone with more knowledge and experience in the industry. That’s where a financial analyst comes in. The same can also be said for institutions with investment advice needs. Banks, securities firms and insurance companies all use financial analysts to recommend the best investment opportunities.

What Financial Analysts Actually Do

The job responsibilities of financial analysts are complex and far reaching. Fortunes can be made or lost on the backs of the advice given to clients by these financial gurus. Their knowledge and understanding of the ins and outs of market trading and investing is priceless. They are the eyes and ears of investors everywhere and make big money at times because of their perceptive insights.

Some of the common tasks associated with a job as a financial analyst are as follows: recommendations about individual investment opportunities or portfolios (collection of investments), evaluating current and past market trends to determine the best investments, looking over a company’s financial situation to assess investment needs, and meeting with investors to offer insight and advice.

Salary & Job Outlook

Financial analysts have great earning potential and advancement is always possible in this fast-growing career field. According to the U.S. Department of Labor, financial analysts have an annual median salary of $76,950 with the high end of the salary range topping out at $90,560.

The job outlook for this field is promising at 16% growth through the year 2022, with 39,300 new jobs added. As technology continues to advance, so will the need for skilled financial analysts capable of working with all types of online trading options. As long as financial analysts continue to train and learn with technology, they will always be in demand.

Work Environment

Financial analysts work in a number of different financial institutions such as banks, credit unions, private companies, insurance providers and even for the government. No matter which location financial analysts choose, they are generally stationed behind a desk for the majority of their career. Since they work heavily with computers and technology, online and telephone communication avenues are important and financial analysts spend a great deal of time speaking to clients and financial staff.

For individuals seeking a career with great pay and a high level of intensity, becoming a financial analyst is a good choice. Professionalism is important and analysts must be willing to keep up with the latest financial trends at all times. When considering career options, think hard about pursuing a career as a financial analyst if managing money is a passion. The pay is great and job growth is fast and steady. The future definitely looks bright for those who succeed as financial analysts.