The market segments in which financial analysts are in demand are:
Financial analysts usually have an undergraduate degree in related fields, such as business, accounting, statistics or finance. However, a master's degree in business administration (MBA) is desirable for this job.
An aspiring financial analyst must also have the following skills:
Financial analyst jobs are expected to rise by 34% between 2006 and 2016, according to a survey conducted by the Occupational Employment Statistics (OES). This growth rate is significantly faster than the average for all occupations. The primary factors for the bright growth prospects are:
With an increase in the number and type of mutual funds and the amount of assets invested in these funds, mutual fund companies will need more financial analysts to research and recommend investments.
According to the OES, median annual earnings, including bonuses, wage and salary, of a financial analyst were $66,590 in May 2006. For many financial analysts, bonuses may form a significant part of their total earnings. These bonuses are usually based on how well an analyst’s predictions compare with the actual performance of the investment.
Financial analysts can either work from an office or their homes. The analysts usually face high pressure of deadlines. Their work might involve long hours as they have to: