The United States Bureau of Labor Statistics recently released its yearly occupation handbook, and some people might be surprised to see which jobs showed the most growth and best pay. The 2014 handbook lists around 580 different occupations along with their required training and education, job descriptions, expected earnings and future growth potential. Jobs are divided into 25 different segments. At the top of this year’s list is the management analyst, who advises business managers on how to cut costs and improve the profitability of the business.
Financial analysts enjoyed the second highest salary in the financial and business industry. The median pay for this career is $76,950 per year. The outlook for this career is also very positive; the projected growth rate is around 16 percent.
What Financial Analysts Do
Financial analysts offer guidance to individuals and businesses who have to make investment decisions. Part of their job is to assess the performance of bonds, stocks and other investments.
The duties of a financial analyst might include recommending collections of investments, known as investment portfolios, and also individual investments. They also evaluate historical and current statistics, study business and economic trends, and determine a company’s value by analyzing its financial statements
Financial analysts often conduct meetings with company officials in order to evaluate the firm’s management and future prospects. They also draw up written reports and conduct meetings with individuals or groups of investors in order to explain investment recommendations to them.
The majority of positions in this industry require at least a bachelor’s degree. The following fields of study could be a good way to prepare for a career as financial analyst: finance (including an online finance degree), economics, accounting, mathematics, statistics and engineering.
For more senior positions, employers often want candidates to have an MBA (Master’s in Business Administration) or a Master’s Degree in Finance. Knowledge of bond valuation, options pricing and risk management are very important in this line of work.
Financial analysts usually start by specializing in a particular field of investments. With more experience, they can advance to portfolio managers, who are in charge of a team of analysts who compile the mix of investments for the firm’s investment portfolio. Learn more about earning your degree online at Accredited-Online-Colleges.com.