Financial analyst positions are concentrated in the large metropolitan areas that have many financial institutions, such as New York City, Boston, Los Angeles and Washington, D.C. The major employers of financial analysts are investment companies, brokerages, banks and insurance companies. During events like the Global Financial Crisis, when everyone seemed to take an increased interest in anything money related, financial analysts popped up on our television screens on a regular basis with soothing words, or words less comforting e.g. drink all your good wine now before the world explodes”. So if you have a voice for radio, or a face for television, and can back that up with proven credentials as a financial analyst, you could carve out a new career in an unexpected field. This financial carrot is a real lure, and attracts many people with a finance-related college degree.
This means you’ll be faced with real competition if you want to make it as a financial analyst. More jobs are being created for financial analysts, due in part to the increased number of mutual and hedge funds, and the assets within them. Another factor is more analysts are needed to monitor the growing number of investment opportunities offshore, as the planet becomes one big global marketplace.
And yet more financial analysts are required to oversee complex and innovative investments springing out of new technologies. But, going by those salary figures, it is no surprise to see so many people putting their hands up for these roles. While you can expect a good salary wherever you work, the best paying cities for financial analysts are a mix of the usual suspects, and some lesser known financial hot spots. It’s fair to say that if you want to increase your chances of getting a job as a financial analyst, you might want to avoid these cities and start off somewhere else. The best financial analysts have a head for business, in the same way George Clooney has a head for Hollywood.
Financial analysts evaluate the economic outlook of different sectors and industries for organizations that wish to invest. Personal financial advisors work with individual clients and focus on a wide range of personal investment needs. Securities analysts are employed by insurance companies, banks, securities firms, pension and mutual funds, and other organizations interested in assisting their customers in the investment process.
Analysts research industry statements and use company sales, costs, commodity prices, tax rates, and expenses to evaluate a firm’s current and projected value. Analysts also meet with executives to evaluate an organizations leadership and market outlook. Some Analysts focus on determining risk levels connected with different investment possibilities.