Ying Wang | Financial Analyst
Employment prospects for financial analysts
Financial analysts are personnel who specialize in providing financial analysis and investment decision-making to customers, and are generally employed by financial companies. They help clients by recommending when to buy and sell investments and keeping abreast of economic trends, business news, and company strategies. So what are its employment prospects? The following will analyze common positions, market demand and position salary.
Common job positions for financial analysts
Investment product analysts, investment bank financial product managers, investment bank analysts, bank wealth management managers, risk control managers, quantitative analysts, fund managers, senior brokerage researchers, consulting company partners, investment bankers, etc.
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Market demand for financial analysts
Sustainable economic development is a globally consistent goal. As companies focus on improving returns, compliance, and risk management issues, the demand for financial analysts is increasing. Their skills in portfolio management, risk management, and financial data analysis are key to helping companies address these three factors in the financial industry.
The US market is expected to provide about 32,000 jobs for analysts in the next ten years. Currently, there are approximately 300,000 jobs available, and they are increasing significantly every day.
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According to the statistics of Markets And Markets, the demand for financial analysis markets around the world has shown an upward trend in the past five years, and it is predicted that this demand will continue to grow next year and the following year. The global financial analysis market is expected to grow from US$6.9 billion in 2018 to US$11.4 billion in 2023, with a compound annual growth rate of 10.7%.
Financial analyst salary
The salary of financial analysts varies depending on their academic qualifications, skills, and work experience.
- Average Financial Analyst Salary in Canada
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Statistics from PayScale show that the basic salary range of Canadian financial analysts in 2021 is about C$45,000 to C$78,000, of which the average basic salary is about C$60,000. The total salary also includes bonuses, profit sharing and other income, which will eventually reach around C$70,000.
- The Pay by Experience Level for Financial Analysts
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Through the salary adjustment of financial analysts with different levels of experience, it is found that entry-level financial analysts with less than 1 year of experience are expected to receive an average total salary of C$51,000 (including tips, bonuses and overtime). The average total compensation of early professional financial analysts with 1-4 years of experience is C$58,000. The average total compensation of financial analysts with more than 5 years of experience is approximately C$65,000 to C$68,000.
It can be seen that the experience level of a financial analyst is directly proportional to his salary level.
"Average Financial Analyst Salary in Canada" Click to view
Conclusion
Through the above analysis, analytical work in the financial field has a good development prospect. Candidates with financial analysis skills have many positions to choose from. The increasing demand in the market means that many companies are looking for financial analysis talents. Statistics show that the average salary level of financial analysts is higher than that of many other occupations, but this mainly depends on the experience and skills of job applicants. Therefore, financial analysts are still a good choice in the future!