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Career Guide
Financial analyst

If you have a keen eye for detail, demonstrate exceptional analytical skills, excel in interpreting complex data and have a passion for continuous learning, you may have a future career as a financial analyst.

If you have a keen eye for detail, demonstrate exceptional analytical skills, excel in interpreting complex data and have a passion for continuous learning, you may have a future career as a financial analyst.

Career overview

Financial analysts are business professionals who assist companies and individuals with their investment choices and managing risk. They review clients’ financial statements, evaluate data to identify market trends and economic conditions and create financial models to make forecasts and provide recommendations. Their insights enable clients to make informed decisions about buying, holding or selling investments. Analysts also prepare reports and presentations, communicate their findings to stakeholders and may even meet with company executives to discuss financial strategies.

Financial analysts can be categorized into two types: buy-side and sell-side. Buy-side analysts focus on developing investment strategies for institutional investors such as hedge funds, insurance companies and pension funds, which have significant capital to invest. Conversely, sell-side analysts cater to financial services agents, guiding them in selling stocks, bonds and other investment products.

In 2023, approximately 347,700 financial and investment analysts were present in the national workforce. Financial analysts typically work for investment banks, mutual funds, insurance companies or other financial institutions. In 2023, the largest employers of financial and investment analysts were businesses specializing in securities, commodity contracts and other financial investments and related activities; professional, scientific and technical services; and management of companies and enterprises, according to the Bureau of Labor Statistics (BLS). With the growing complexity of the global economy, the demand for skilled financial analysts is projected to continue to increase, suggesting an optimistic future for this career path.

What to expect

Salary range

$76 - 129K

$76K    

$129K    

Financial and investment analysts, within the 25th to 75th percentiles, earned salaries ranging from $76,880 to $129,970 in 2023, according to BLS nationwide statistics.[1]

Projected growth (2023-2033)

33,100 jobs

National job opportunities for financial and investment analysts are projected to grow by 10% between 2023 and 2033, BLS reports.[1]

Education required

Bachelor's degree

Related job titles

Budget analyst
Financial risk specialist
Credit analyst
Financial manager
Financial advisor

[1] The salary ranges are not specific to students or graduates of University of Phoenix. The salary ranges, job opportunities and outcomes presented represent the larger job category, which includes the particular job title. Actual outcomes vary based on multiple factors, including prior work experience, geographic location and other factors specific to the individual. University of Phoenix does not guarantee employment, salary level or career advancement. BLS data is geographically based. Information for a specific state/city can be researched on the BLS website. The BLS Projected Growth for 2023-2033 is published by the US Bureau of Labor Statistics. This data reflects the BLS’ projections of national (not local) conditions. These data points are not specific to University of Phoenix students or graduates.

Challenges

While the role of a financial analyst can be rewarding, it is not without its challenges. One significant hurdle is the need to stay on top of rapidly changing market conditions and economic indicators, which require continuous learning and adaptability. Analysts often work under tight deadlines, necessitating strong time management skills to ensure accurate reports and analyses are delivered promptly. Additionally, the pressure to provide actionable insights can lead to high stress levels, especially during periods of market volatility. Moreover, financial analysts must also navigate the complexities of regulatory requirements and ethical considerations, ensuring compliance while striving to provide optimal strategies for their clients. This blend of high expectations and dynamic environments can make the role both demanding and intense.

Advantages

The role of a financial analyst comes with several advantages that can lead to a fulfilling career. One of the primary benefits is the opportunity for career enhancement; as analysts gain experience and expertise, they can move into higher-level positions such as senior analyst or portfolio manager, often leading to increased responsibilities and higher salaries. Additionally, financial analysts enjoy the intellectual stimulation that comes from analyzing complex financial data and market trends, allowing them to continuously develop their analytical and problem-solving skills. The position also offers a degree of job stability, particularly as the demand for financial expertise continues to grow in various industries. Furthermore, the ability to influence major financial decisions for businesses and individuals can be incredibly enriching, providing a sense of accomplishment and impact within the economic landscape. Finally, analysts often benefit from networking opportunities within the financial sector, which can lead to professional relationships that are advantageous for career growth.

What to expect

Salary range

$76 - 129K

$76K    

$129K    

Financial and investment analysts, within the 25th to 75th percentiles, earned salaries ranging from $76,880 to $129,970 in 2023, according to BLS nationwide statistics.[1]

Projected growth (2023-2033)

33,100 jobs

National job opportunities for financial and investment analysts are projected to grow by 10% between 2023 and 2033, BLS reports.[1]

Education required

Bachelor's degree

Related job titles

Budget analyst
Financial risk specialist
Credit analyst
Financial manager
Financial advisor

[1] The salary ranges are not specific to students or graduates of University of Phoenix. The salary ranges, job opportunities and outcomes presented represent the larger job category, which includes the particular job title. Actual outcomes vary based on multiple factors, including prior work experience, geographic location and other factors specific to the individual. University of Phoenix does not guarantee employment, salary level or career advancement. BLS data is geographically based. Information for a specific state/city can be researched on the BLS website. The BLS Projected Growth for 2023-2033 is published by the US Bureau of Labor Statistics. This data reflects the BLS’ projections of national (not local) conditions. These data points are not specific to University of Phoenix students or graduates.

About our source

The Bureau of Labor Statistics (BLS) is an agency of the United States Department of Labor that serves as part of the U.S. Federal Statistical System. Find out more: https://www.bls.gov/bls/about-bls.htm

Career-relevant skills

In today's competitive job market, possessing the right skills is essential for standing out as a business professional. Employers seek candidates who not only bring strong analytical and quantitative abilities but also a range of complementary skills that enhance their effectiveness. The top skills currently sought after for financial analyst roles include:

  • Financial analysis
  • Finance accounting
  • Financial statements
  • Financial modeling
  • Financial planning
  • Variance analysis
  • Financial data
  • Economics
  • Generally accepted accounting principles

  • Forecasting
  • Management
  • Budgeting
  • Operations
  • Planning

  • Microsoft Office
  • SAP applications
  • Power BI
  • Tableau (business intelligence software)
  • Dashboard
  • SQL (programming language)
  • Spreadsheets
An illustration showing a financial analyst pointing to a pie chart

Soft skills

Soft skills are interpersonal and personal attributes that enable individuals to interact effectively and harmoniously with others. Analytical thinking, problem solving, attention to detail, effective communication and leadership are a few soft skills that can be an asset in the financial analyst career path.

Education and experience

If a career as a financial analyst seems like a suitable fit, there are academic milestones, credentials and practical experiences that can set you on the right track. Here are some key steps you can take as you embark on your journey towards becoming a financial analyst:

A happy bachelor's degree graduate look up into the crowd at a University of Phoenix  commencement ceremony

Obtain a bachelor’s degree in finance, economics or a related field. This foundational education can equip you with the necessary knowledge of financial principles and analytical techniques.

An financial analyst and a colleague examine a document together in an office setting

Secure internships or entry-level positions in finance-related roles to gain hands-on experience. This exposure can help you understand the industry dynamics and develop relevant skills in data analysis and financial reporting.

Three professionally dressed colleagues look at a wall of charts and graphs together

Consider earning a professional certification, such as the Chartered Financial Analyst (CFA) designation. This credential is highly regarded in the finance industry and can demonstrate your expertise and commitment to the profession.

A financial analyst, seated at a desk covered with papers showing charts, points to something on a clipboard

Career enhancement

Accomplishing your initial career goals could be just the beginning of a fulfilling and dynamic journey. Embracing lifelong learning can significantly boost your skills and knowledge, helping you to unlock new opportunities and reach even greater heights in your profession.

Career growth for financial analysts typically starts with focusing on a specific investment sector, which helps in developing expertise and credibility. As you gain experience, you can advance to roles such as portfolio manager, where you manage a company's investment strategy; fund manager, overseeing substantial client portfolios or financial manager, focusing on an organization's financial health and planning.

Here are a few tips for advancing within the financial analyst career path:

  • Further your education: Pursue advanced degrees, such as a master’s degree in business or finance, to deepen your understanding of financial principles and improve your marketability in the industry.
  • Network effectively: Build and maintain professional relationships by joining finance-related organizations, attending industry conferences and participating in networking events to connect with peers and industry leaders.
  • Seek mentorship: Find a mentor within the finance sector who can provide guidance, share experiences and offer insights on navigating your career path effectively.
  • Enhance technical skills: Stay updated on the latest financial software and analytical tools. Familiarize yourself with data visualization programs and programming languages, as these skills are increasingly valued in financial analysis.
  • Explore leadership opportunities: Look for chances to lead projects or teams within your organization. Demonstrating leadership can showcase your potential to take on more significant roles and responsibilities in the future.

Programs

At University of Phoenix, we offer undergraduate and graduate programs that prepare students for the auditor and accountant career outcomes. Our programs allow you to fit your education into your busy schedule, taking one course at a time in five- to six-week intervals. Learn more about which of these programs — focused on teaching you the principles and skills you’ll need in your career — is right for you.

Bachelor of Science in Finance and Technology

The Bachelor of Science in Finance and Technology degree program provides a general foundation for students in financial planning and analysis, as well as a variety of financial tools and technology across the financial services industry. This program is not designed to, and does not lead to, any certification or licensure including licensure as an investment advisor or certification as a Certified Financial Planner (CFP).

In this program, you’ll learn how to: 

  • Assess financial strategies and practices used to manage financial instruments, portfolios and capital flows
  • Evaluate aspects of financial planning used to grow, manage and protect wealth
  • Analyze financial data used in financial accounting, planning, management and decision making
  • Appraise the use of financial tools and technology used to deliver financial services, analyze data, promote competitive advantage and improve performance

You can earn this bachelor’s degree by completing 120 credits through courses in general education, core topics and elective subjects. The length of this program is 47 months, and each course is five weeks long.

How can University of Phoenix support me in pursuing my career goals?

Students and graduates can access our Career Navigator tools, which can help you evaluate career options, track career-relevant skills and discover job postings suited to your needs. From resumé building and interview preparation to networking and mentorship, University of Phoenix offers career services for life to all students and graduates. Dive deeper into our career services, resources and tools to find out how we can help you reach your goals.

An financial analyst sits at a desk, using a laptop, in front of a bank of windows

Explore finance programs

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