Thursday, August 16, 2012

How Much Does a Financial Analyst make?


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Financial analyst CFA
Everytime people hear about Financial analyst or any position within the financial industry , they think everybody is making millions with lavish lifestyles, but the salary for a financial analyst is depending on several factors which are:

-Educational background
-Experience
-CFA "Chartered Financial Analyst"
-Location
- Company size and Fortune 500 companies


Entry level average salary for a financial analyst are between $40 000 to $60 000 a year, the competition is very tough for for entry level, bachelor degree in business fields are acceptable but statistics and mathematics are higly appreciated on Wall street nowadays.
The base salary is not the only income for the Financial analyst, indeed very attractive bonuses are given once a year linked to the performance and on how well the predictions compare to the actual performance of the market, bonuses can reach up to 1 year salary.

The work location will also affect the salary, indeed the average salary for Financial analyst in New york is about $110,000 while an analyst in the middle of nowhere might get half of this for the same job. On the other hand, designation such as the CFA "Chartered Financial Analyst" will give you a significant raise in salary, for a financial analyst making $60,000 a year, the completion of the 3 level of the CFA will raise is salary up to $100,000, but the CFA is a tough examination and it will require at least 250 hours of self-study per level to pass it.

The salary of Financial analyst will also highly depend on the company you are working for indeed working for a fortune 500 companies will increase your salary, a financial analyst at JP Morgan will obviously earn more than the one working for "jkahfjafjkhsd" company.

You must keep in mind that working as a financial analyst is not an easy job but for those who have the skills necessary to perform well in this environment, income and opportunities are very attractive.


 

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