OK, so you think you may have found your passion in life – becoming a financial analyst.
However, the million-dollar question is…
How much will I earn per year as a financial analyst?
We will share more information on financial analyst salaries with you, but there are some other things to consider first:
Is being a financial analyst a growing or a dying career?
How are the employment prospects for a financial analyst?
And where is the best place to live and get paid as a financial analyst?
Keep reading and, hopefully, we can answer some of these questions for you.
What kind of salary can I expect?
According to the U.S. Bureau of Labor Statistics, the median annual wage for financial analysts was %84,300 in May 2017. By the term “median wage,” we mean that half the workers in the occupation earned more than this. The lowest 10 percent earned less than $51,780, and the highest 10 percent earned more than $165,580.
What are the highest paying states for financial analysts?
According to the U.S. Bureau of Labor Statistics, these are the 5 highest paying states. Numbers are based on the mean.
- New York – $64.69 per hour / $1,34,560 per year
- Wyoming – $53.47 per hour / $1,11,210 per year
- Colorado – $53.02 per hour / $1,10,290 per year
- California – $52.68 per hour / $1,09,580 per year
- Alaska – $52.56 per hour / $1,09,330 per year
What are the lowest paying states for financial analysts?
According to the U.S. Bureau of Labor Statistics, these are the 5 lowest paying states/territories. Numbers are based on the mean.
- Virgin Islands – $27.44 per hour / $57,080 per year
- Puerto Rico – $27.91 per hour / $58,050 per year
- Kentucky – $33.74 per hour / $70,180 per year
- Nebraska – $33.76 per hour / $70,220 per year
- Oklahoma – $35.19 per hour / $73,190 per year
What is the Career Ranking for this job?
Well, according to usnews.com, becoming a financial analyst is exceptionally fulfilling. They analyze a boatload of data about salary, unemployment rate, and stress to select the top jobs for each year.
Financial analysts are ranked:
- #15 in Best Business Jobs
- #16 in Best STEM Jobs
- #74 in The 100 Best Jobs
What is the growth potential as a financial analyst?
According to the Bureau of Labor Statistics, the typical job growth in a sector is 7%. Financial analyst job growth between 2016 and 2026 is expected to be 11%, adding 32,200 new jobs. That is faster than the market average!
What are the unemployment figures like for financial analysts?
When looking at a career to get into, it is a good idea to factor in data on how long you can stay employed. Financial analysts have some of the lowest unemployment rates in the US. According to usnews.com, the unemployment rate for financial analysts is only 2.1%.
The bottom line: Becoming a financial analyst is not just a rewarding career; it is a growing and lucrative one, too.