Businesses rely on sound financial data. The role of a financial analyst is to generate reports summarizing financial data for use by executives, managers and other stakeholders when making business decisions. These professionals require a combination of business and financial knowledge, which may be obtained through the online Bachelor of Arts (BA) in Business Administration – Accounting program from Florida Institute of Technology.
According to the U.S. Bureau of Labor Statistics (BLS), employment of financial analysts nationwide will grow by 9% between 2023 and 2033, which is faster than the average growth rate for all occupations during the same period. The employment of financial analysts should increase because of the need for accurate interpretations of financial data in an increasingly diverse and complex global business environment.
Financial Analyst Job Description
Typical job duties for financial analysts include evaluating financial reports, such as income statements, cash flow statements and balance sheets, and determining how a company’s finances will impact business operations. They may also facilitate decision-making by finance and operations personnel or investors by presenting data analysis and interpretation in clear, compelling ways.
Financial analysts are often required to make recommendations for action by synthesizing financial information and trends. They may predict future business activity to assist product developers or sales teams. Some financial analysts create tools or systems, including databases and spreadsheets, to improve financial data analysis and reporting.
Other responsibilities can include keeping financial data secure and documenting activity and procedures for future reference. Financial analysts help others understand how new laws, regulations and developments will impact businesses in the finance and banking sector.
What Does a Financial Analyst Make?
National data from the BLS shows that financial analysts earned an average annual wage of $99,890 as of May 2023. Recent graduates of bachelor’s degree programs may start toward the lower end of the salary range and increase their earnings as they gain experience and/or advanced educational qualifications.
Potential salary ranges and employment opportunities are determined by multiple factors, including a candidate’s education and work history, local market conditions, and the type and size of industry. For example, according to the Robert Half 2025 finance and accounting salary guide, a manager-level financial analyst earned between $84,750 and $115,750 in 2024. Compare that to an entry-level financial analyst’s salary range at a small company: $52,250-$69,000.
Education, Training and Skills Required for a Financial Analyst Career?
Entry-level financial analyst jobs generally require a bachelor’s degree in accounting, finance or business administration, and some employers may prefer candidates with relevant work experience. The path to a financial analyst career can begin with a bachelor’s degree in business administration with a concentration in accounting. Coursework typically includes intermediate accounting, essential business skills, accounting information systems and applied decision-making methods for business. Graduates of a business administration program with a concentration in accounting should be able to:
- Assist the decision-making processes for various business needs
- Apply core management skills, such as organizing and planning
- Understand and use fundamentals of statistical data analysis
- Implement internal and public auditing knowledge in evaluating reports
With continuing education opportunities available through some employers, it may be possible for individuals to attain an entry-level position with a bachelor’s degree and then use tuition assistance to further their education. Individuals who are detail-oriented, analytical thinkers with excellent communication and documentation skills may be suited for a career as a financial analyst. If you are interested in statistics, data valuation and business, and are good with computers and software programs, Florida Tech’s online BA in Business Administration – Accounting program can help prepare you for this career and any accounting career you may hope to pursue.
Learn more about Florida Tech’s online BA in Business Administration – Accounting program.
