Career: Financial Analysts
Do you get psyched about stocks and bonds? Is the business section the first place you flip to in the Sunday paper? If so, then you should think about becoming a financial analyst.
If you do, your main responsibility will be spotting stock market trends and keeping tabs on up-and-coming companies. You’ll also make predictions about the economic health of various industries. Why? So you can help businesses make good investment decisions.
Financial analysts help businesses and other organizations come up with investment strategies to meet their financial goals.
Did You Know?
- Because their days are filled with phone calls and meetings, many financial analysts spend their nights researching businesses and industries.
Are You Ready To...?
- Make sense of financial information
- Write long reports using statistics
- Follow the stock market
- Investigate new companies
- Meet and consult with clients daily
- Learn about new mutual funds and other financial products
- Work long hours -- including many nights
It Helps to Be...
An organized person who loves to work with numbers. As a financial analyst, you’ll be strategizing with clients all the time. Therefore, problem-solving skills, quick thinking, and the ability to communicate clearly are key.
Make High School Count
- Pay close attention in math and consider trying your hand at statistics and accounting.
- Polish your speaking and writing skill in English, speech, and drama classes. As a financial analyst, you’ll often have to present complex financial information in easy-to-understand language.
- Master the computer. Become familiar with word processing and spreadsheet software.
Did You Know?
- Financial analysts who make good investment predictions often receive hefty bonus checks.
Outlook
Government economists expect jobs for financial analysts to grow much faster than the average for all careers through 2016. More financial analysts will be needed to help businesses choose between the growing number of investment options. Also, the industry itself is growing. More companies are putting more money in stocks and other investments.
Expect a lot of competition for jobs in this high-paying career. Job hunters with excellent grades and a degree from a top college -- and, eventually, an MBA or certification -- will have an edge.
Compensation
According to the U.S. Bureau of Labor Statistics, the average yearly earnings of financial analysts in 2008 were $84,780.
