Financial Analyst Jobs Overview
Individuals and businesses need financial guidance, so many rely on financial analysts to make smart and profitable investment decisions. When you apply for financial analyst jobs, you'll find plenty of opportunities at banks, insurance companies, pension funds, and other financial institutions.
The day-to-day duties of financial analysts include:
- recommending financial portfolio options
- evaluating data
- staying up to date with economic and business trends
- examining financial statements
- assessing financial efficiency
- preparing financial reports
Are you looking for job security? A financial analyst role may be right for you. The U.S. Bureau of Labor Statistics (BLS) expects an 8% increase in financial analyst jobs over the next ten years. Read on to learn more about financial analyst careers.
Salaries for Financial Analyst Jobs
The median annual salary for financial analysts is $87,328. However, salary can vary by industry, location, and experience level.
For instance, here's a glimpse into annual compensation for financial analysts in the top-earning industries:
- information services: $148,040
- financial investments: $134,060
- highway, street, and bridge construction: $126,740
- water transportation: $126,140
Financial analyst jobs pay the highest wages in these states:
Look up your intended job title and location on Monster's Salary Tool for a clearer picture of your potential salary. Our free tool provides data about salaries for similar roles and insights into the skills needed to develop your finance career.
How to Find a Financial Analyst Job That Fits You
How do you find financial analyst jobs that align with your work aspirations? Let's break it down so you find a job you love.
Choose Your Industry and Work Environment
Begin by reflecting on your interests and strengths as a financial analyst. Are you passionate about technology, healthcare, or the energy sector? Pinpointing your preferences will help narrow down industries that align with your career goals.
Consider the Work Environment
Envision your preferred work environment. Do you thrive in a fast-paced corporate setting or prefer a more laid-back atmosphere? Understanding your ideal work environment is critical, whether it's a startup or an established company.
Analyzing Financial Analyst Job Descriptions
When scanning through financial analyst job descriptions, look beyond job titles. Pay attention to the responsibilities and requirements. For instance, a "senior financial analyst" role at one company might be equivalent to a "financial analyst" role at another. Ensure your skills and experience match the job description.
Researching Employers to Find the Perfect Fit
Understanding the mission and culture of potential employers is a game-changer. Explore the company's mission and values. Does their mission resonate with you? Assess if your personal and professional goals align with what the company stands for.
Research the work environment. Read employee reviews, check out the company's social media presence, and gather insights into its culture.
How to Apply for Financial Analyst Jobs
When you find financial analyst positions worth applying for, it's time to work on your applications. This advice will help ensure your resume and cover letter catch recruiters' attention.
Update Your Resume
Help recruiters understand why they should choose you. Always highlight skills relevant to the job, such as analytical, math, and technical skills. Tailor your resume for each application. It's crucial to pass the applicant tracking system (ATS) filters.
Start by dissecting the job opening for keywords. Financial analyst jobs usually require skills like:
- analytical skills
- math and statistics skills
- ability to learn new analytics software
- communication and interpersonal skills
- decision-making skills
- problem-solving skills
- financial modeling skills
- forecasting skills
- ability to write detailed financial reports
Ensure your resume is peppered with common keywords to catch the recruiter's eye. But don't stop there. Use data to show what you've accomplished. Financial analysts deal with numbers, and recruiters want to see the impact you've made. Look at ourfinancial analyst resume sample to see how it's done.
Want more help perfecting your resume? When you use Monster's Resume Writing Services, an expert resume writer will help you create a compelling resume tailored to your industry that includes relevant keywords that will help your resume get past the ATS and into a recruiter's hands.
Include a Cover Letter
Want to boost the likelihood of getting your application read? Always include a cover letter with your resume, even if it's not required. A good financial analyst cover letter introduces yourself and allows you to sell your skills to employers. Here's how to organize yours:
- Explain why you are excited about the role and company.
- Note how your skills, work experience, and education align with the employer's needs.
- Thank them for their consideration and mention that you hope to have a chance to interview for the role.
Ready to take the next step? Create an account on Monster to streamline your job search. Upload your resume to attract recruiters, track your applications, and activate job alerts tailored to you.
How to Follow Up with an Employer
Strategic and timely follow-ups can significantly enhance your chances of landing that financial analyst job you want. Timing is crucial when following up on a financial analyst job application.
Aim to send a polite follow-up about a week after submitting your application. This timeframe strikes the right balance, allowing the employer enough time to review applications while expressing your continued interest.
To show attention to detail, address your message to the right person. Target the hiring manager or recruiter. If this information is unavailable, contact the company's HR department directly.
Email remains the most professional and widely accepted method for follow-ups in the finance industry. Craft a concise and well-structured follow-up email with the following:
- Reaffirm your enthusiasm for the financial analyst position.
- Briefly reiterate your relevant skills and emphasize how your qualifications align with the organization's needs.
- Offer to provide any additional information that could aid the decision-making process.
- Attach your resume for quick reference.
Interviewing for Financial Analyst Jobs
The exciting news has arrived! A hiring manager has reached out to you for an interview. If you're getting the interview jitters, don't worry. Monster has several tips that can help you prepare in advance and nail your following interview. Here are a few to get started:
Learn About Interview Types
Be prepared for different interview formats. For a financial analyst role, you could face phone screenings, one-on-ones, panel interviews, or even case studies. Flexibility is key.
Review Typical Questions
Anticipate the most common interview questions about your experience, strengths, and weaknesses. Prepare concise and impactful responses.
Know Your Financial Statements Inside Out
Be ready to discuss financial statements quickly. Brush your balance sheets, income statements, and cash flow statements.
Understand Industry Trends
Dive into current trends in finance. Whether it's market trends, regulatory changes, or economic shifts, showing you're in the loop adds serious points.
Ace Financial Analyst and Behavioral Questions
Get ready for financial analyst-specific interview questions and behavioral interview questions. Share specific examples highlighting your financial, problem-solving, and collaboration skills. Use the STAR method to construct compelling answers.
Follow Up After Your Interview
Send a thank-you email expressing your gratitude and reiterating your enthusiasm for the financial analyst role. It's a small gesture that goes a long way.
What to Do When You Get an Offer for a Financial Analyst Job
Congratulations on scoring a financial analyst job offer! Now, let's dive into a few essential steps you should take next.
- Respond with enthusiasm and gratitude. Express your genuine excitement about the offer and appreciation for the opportunity. A well-crafted response sets a positive tone and showcases your professionalism.
- Request time to evaluate the offer. Politely ask for a reasonable timeframe to review the offer thoroughly, such as 24 to 48 hours. This allows you to assess the terms, responsibilities, and overall fit with your career goals.
- Ask clarifying questions. Seek clarity on any aspects of the offer that may be unclear. In the finance industry, details matter. Inquire about performance expectations, reporting structures, bonus structures, and other pertinent information influencing your decision.
- Review the entire compensation package. Don't focus solely on the base salary. Evaluate the complete compensation package, including bonuses, benefits, retirement plans, and other perks. Understanding the comprehensive picture ensures you make an informed decision.
- Negotiate thoughtfully. If you feel certain aspects of the offer warrant negotiation, do your homework. Research industry standards, highlight your skills, and make a compelling case for the adjustments you seek.
- Confirm all the details before signing. Before signing any contracts, ensure that all details discussed and agreed upon are explicitly mentioned in the offer letter. This helps avoid misunderstandings and establishes a straightforward arrangement between you and your future employer.
Career Paths for Financial Analyst Jobs
Financial analyst jobs offer great options for career advancement. Here are a few different paths you could take:
- Finance manager. You'll oversee financial operations, develop budgets, and guide financial strategy. Manage a team of financial analysts, ensuring accurate reporting and providing valuable financial guidance to support organizational goals.
- Controller. Be responsible for the financial integrity of an organization. Oversee financial reporting, manage accounting functions, and ensure compliance with financial regulations.
- Director of finance. Become the strategic leader that oversees all financial aspects of a company. Collaborate with executive teams to develop financial goals, guide financial planning, and ensure financial health. You may also lead mergers and acquisitions.
- Chief financial officer (CFO): As the top executive in the finance department, you'll be in charge of an organization's overall financial strategy and provide leadership in financial planning, risk management, and decision-making.
- Chief executive officer (CEO). After various years in the field building your financial, broad management, and leadership skills, you could also ascend to the top executive role as CEO. In this role, you'll provide overall leadership, set organizational goals, and make high-level decisions.
Similar Occupations to Financial Analyst Jobs
Keep your options open by checking out these similar finance jobs on Monster: