The bottom ten percent in the profession earn less than $43,400 and the top ten percent earn over $141,070. Annual bonuses are very common in the industry and can account for a substantial portion of the total earnings (OOH, 2010). Benefit packages are typically very strong for financial analysts. Specific information for Miami-Dade County is unobtainable, but the city does have a small financial community that will allow for some career opportunity. Note that in Miami-Dade County, a working knowledge of Spanish is often a valuable asset if not an outright prerequisite for employment.
The salary range is determined largely by experience. The profession is hierarchical and junior financial analysts are expected to "pay their dues." Salary can also be impacted by the contacts that people make -- building a large network of contacts opens up better opportunities for skilled analysts (Princeton Review, 2010). In addition, having a specialty outside of finance will also help to drive up salary, in particular in fields that have relatively high demand for specialized analysts but relatively short supply.
The working conditions are also characterized by the corporate culture. Financial analysts typically work in a relatively conservative field, with high standards of attire and formality. The field remains male-dominated, and at some firms the culture can still be somewhat oppressive for female analysts, complete with a glass ceiling. Vacation time is limited during the first few years in the business, but eventually the high degree of autonomy financial analysts have allows more senior analysts to set their own schedule.
Growth Potential
The demand for financial analysts is expected to increase 20% by 2018. The industry is on a long-term growth trajectory as the field becomes more complex and the general public becomes savvier about investing. Employment in the field in 2008 was 250,600, and this is expected to climb to 300,300 by 2018 (OOH, 2010). Despite this, competition for jobs is expected to be intense. The field is lucrative and high profile, so it attracts more people that there are positions. This intense competition demands that prospective financial analysts build for themselves the strongest possible academic background. The level...
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