An Asset-Liability Version of the Capital Asset Pricing Model with a Multi-Period Two-Fund Theorem,” with Duane Whitney, Journal of Portfolio Management Vol. Those interested in becoming financial analysts should have a strong academic background with courses such as accounting, economics, and finance. Financial analysts with graduate degrees or certifications will have better job prospects available to them. Median annual wages, excluding bonuses, of wage and salary financial analysts are $73,670. Annual performance bonuses for financial analysts can be common and can be considered a significant part of their earnings. Car finance managers evaluate and process loan applications, as well as coordinate the activities of subordinate loan officers and credit analysts. To become a financial analyst, you will need a bachelor’s degree at the very least.
They also handle customers whose applications and money situations require special attention and analysis. The BLS states that financial managers need a minimum degree in finance, accounting or business administration. Car finance managers generally start work at automobile dealers as either credit analysts or loan officers. Both analysts and officers can help a consumer obtain a car loan by helping him fill out paperwork and evaluating finances. However, officers traditionally meet with loan applicants while analysts evaluate the numbers.
The BLS showed an even split between both professions, which may indicate interchangeability between both job titles. For 2011, loan officers earned a mean $39.74 per hour or $82,670 per year, while credit analysts averaged $37.63 per hour or $78,280 per year. The BLS sees jobs for all financial managers, including those working in car finance, increasing at 9 percent from 2010 to 2020.
This compares to the 7 percent growth seen for all management occupation and the 14 percent predicted for all jobs in all industries. As billybuc stated, this is a very interesting series you are writing about the salaries for various types of jobs. It is valuable for those people seeking jobs in the here and now and also considering jobs for the future. I trained at some huge dealerships across the United States, and have never seen separate positions of credit analysts or loan officers. Financial analysts typically start by specializing in a specific investment field.
As far as the money stated is concerned, the BLS usually figures wages based on a forty hour work week. I appreciate the facts that you brought to light, so we can compare it with the BLS info. As a financial analyst, you empower others in making financial decisions that are vital to the health of a company or organization. You can also help individuals to make smart investing decisions which will impact their futures. Some may work for banks or investment firms, while others may be employed under a financial manager at a different type of company.