Investment firms, banks and large corporations continually seek skilled financial analysts to help maximize their financial performance. These professionals guide businesses on their financial decisions by offering investment recommendations, forecasting trends and evaluating risks and opportunities to help organizations reach their long-term goals.
Becoming a financial analyst requires a combination of formal education, real-world experience and professional development. Advanced education, like the online Master of Business Administration in Finance program from Eastern Washington University (EWU), opens the door to senior-level roles, competitive compensation and long-term growth opportunities. This guide explores a typical educational pathway for financial analysts, related salary expectations and the specialized skills and knowledge acquired in an MBA in Finance program.
What Does a Financial Analyst Do?
Financial analysts collect and analyze data to guide businesses in their investment, budgeting, risk management and long-term planning decisions. Their core duties include creating financial models and reports, offering buy/sell recommendations, forecasting financial trends and evaluating investment risks.
These professionals are employed across a wide range of industries, working in banks, investment firms, non-profits and large corporations to support financial strategy and decision-making. There are three main types of financial analysts:
- Buy-side analysts: Work for organizations that purchase investment securities, helping to generate returns and helping portfolio managers decide which assets to acquire.
- Sell-side analysts: Operate on the other side of the transaction, helping brokerage firms or investment banks create, promote and sell investment products.
- Corporate financial analysts: Focus on internal financial matters within an organization, such as budgeting and strategic planning for long-term growth.
Financial Analyst Salary Expectations
The median annual wage for financial analysts is $101,350, with compensation varying based on experience, education and qualifications. Entry-level positions often start around $62,410, with roles at large firms or high-demand markets offering higher starting pay. Many positions also include bonuses, health coverage and other benefits as part of their compensation packages.
As analysts gain experience and take on more responsibility, their earnings increase significantly. Senior management and specialized roles can earn upwards of $180,550, with additional bonuses based on personal and company performance. Obtaining advanced degrees, such as an MBA in Finance, and professional certifications can further boost these earnings and open the door to executive positions, including chief financial officer (CFO) or chief investment officer (CIO).
Essential Skills and Education Requirements
Successful financial analysts are equipped with the skills needed to make data-driven decisions that help drive long-term organizational growth. Core technical competencies include financial modeling, accounting principles and investment analysis, along with expertise in programs like Excel, SQL and Python. They also rely on soft skills, such as communication, analytical thinking, attention to detail and problem-solving, to clearly communicate with stakeholders and work with teams across the organization to make informed, strategic decisions that support long-term objectives.
Financial analysts build these skills through education, certifications and professional experience. Many professionals hold a bachelor’s degree in finance, economics or business, with continued studies such as an MBA in Finance offering an advantage for career advancement. Additional qualifications, such as the Chartered Financial Analyst (CFA) or Certified Public Accountant (CPA) designation, provide specialized expertise that helps them stand out in the competitive job market and qualify for senior-level roles.
How to Become a Financial Analyst
Becoming a financial analyst requires a combination of formal education, professional development and real-world experience. Most analysts begin by earning an undergraduate degree that provides a well-rounded understanding of core principles, preparing them for entry-level opportunities such as junior analyst and associate analyst roles. Completing internships during their studies also helps them gain practical experience and expand their network while still in school.
Pursuing an advanced degree, like Eastern Washington University’s online Master of Business Administration in Finance, can further enhance career opportunities by helping students strengthen their financial expertise, develop leadership skills and gain real-world experience. This program prepares professionals to pursue advanced roles in investment analysis, corporate finance and executive management, enabling them to contribute to decisions that help drive organizational growth.
Excel as a Financial Analyst With an MBA in Finance From EWU
Launching a career as a financial analyst begins with a strong educational and professional background. Through a relevant undergraduate program, aspiring financial analysts can gain the skills they need to pursue entry-level positions. They can then build on that experience through a finance MBA program where they acquire advanced expertise and credentials.
Eastern Washington University’s online MBA in Finance program offers working professionals a flexible pathway to becoming successful financial leaders. The program’s robust coursework helps students develop specialized skills in areas such as corporate finance, data-driven decision-making and advanced accounting. Students complete the program qualified for financial management positions in a wide range of organizations and industries.
Learn more about Eastern Washington University‘s online MBA in Finance program.
