Financial analysts work for insurance companies, banks, investment firms or any companies that require an analyst to manage their funds. They advise on market trends and help companies research, analyze and recommend stocks and investments to benefit the company. Financial analysts can track and trade stocks for their companies and help determine which stocks should be bought, sold or kept. The Financial analyst’s recommendations are important to the company that employs them as they can guide and maintain the company’s growth. Financial Analysts work within a business or organization to help determine the needs of a company and determine its course of action based on those needs. The analyst has to be aware of all current developments in their particular field to be able to prepare financial reports and analyses.

Education Required to become a Financial Analysts

In order to become a financial analyst a college degree is needed. Courses in math, accounting, business and economics are recommended as a start. Once a career path has been determined, students can continue their education through completion of the Bachelors degree. At this level of education, even with backgrounds that include biology, computer sciences and engineering, many graduates start out as Junior Analysts and are hired by firms to begin a an early career.

Taking courses that involve software applications are beneficial to the student as much of the analyst’s work depends on the use of databases, spreadsheets and the computer. Students who graduate with a Bachelor in Economics are prepared for entry and higher level positions in a wide variety of economic occupations. To move up the ladder of success as a financial analyst, the next step is to earn a Masters Degree in Economics/Business or an MBA in any of the related business fields.

An online Masters degree requires completing more than thirty credits of post Bachelor’s courses in Economics. Most Master in Economics programs take at least two years. At the Master’s level, students have the education and tools needed to apply key principles learned as well as conduct research in their chosen specialty. Entry level positions are available to holders of a Bachelors degree but for private sector work as an economist, a Master or PhD in Economics is required.

Online Programs That Can Get You There

University of Iowa – Iowa offers a Masters program online as well as a PHD program in Economics for those who want to attain the levels needed for an Academic Economist to teach at the University level. The program is offered through the Tippie College of Business and College of Liberal Arts and Sciences. University of Iowa, in conjunction with Tippie College of Business, offers a Master of Arts as well as a Doctor of Philosophy in Economics for those directed towards the Academic Economist profession. The Master of Arts is offered only to students working towards a PhD in economics through their programs. The Doctorate in Philosophy for Economics requires a minimum of 72 semester hours of graduated credit to complete. The college provides students with training in applied economics, economic theory, and econometrics.

Salary Range for a Financial Analyst

Economist salaries depend on education, with the highest salaries being limited to those with the highest level degrees. Incomes for employees in the private sector lead the list followed by federal government positions and ending with academia and secondary education on the lower end. Salaries for Financial Analysts with a Bachelors degree hovered around the $45,000 mark and, with a PhD in Economics, an average of around $85,000. Some areas of overall median income showed salaries for a Financial Analyst between $63,500 to $67,000 and $85,000 at the PhD level.