Financial Analysts

Employers

Approximately 347,400 financial and investment analysts are employed in the United States. Financial analysts work in the public and private sectors. Employers include banks, brokerage and securities firms, corporations, government agencies, manufacturers, mutual and pension funds, and financial management, insurance, investment, trust, and utility companies. Approximately 25 percent of financial analysts work for firms that are engaged in securities, commodity contracts, and other financial investments and related activities. Only 3.5 percent of financial analysts are self-employed, according to the U.S. Department of Labor.

Since financial analysts often work in Wall Street companies, many employers are found in New York City. They are also concentrated in other large cities but work in smaller cities as well.

Starting Out

Representatives from hiring companies (e.g., banks, brokerage firms, investment companies) may visit college campuses to meet with students interested in pursuing careers as financial analysts. College career services offices will have details on such visits. Company Web sites may also offer campus recruiting schedules.

Gaining an entry-level position can be difficult. Some companies offer in-house training, but many don't. Beginning as a research assistant might be one way to break into the business. Read member profiles at association sites to see where members have worked as financial analysts. Explore the companies that look appealing.

Make contacts and network with other financial analysts. Your local CFA Institute society or chapter will probably hold regular meetings, affording ample networking opportunities. You can become a CFA Institute member whether or not you are a CFA charterholder, but charterholders enjoy full member benefits, such as access to job postings. (Complete details, including listings for local societies and chapters, can be found on the CFA Institute Web site, https://www.cfainstitute.org.) Also, internships can be an excellent way to make contacts and gain experience in the field.

As an interview tool, the CFA Society New York suggests that you compile an investment recommendation for potential clients to give them an idea of the kind of research you're capable of and how you present your data.

You can search for job ads online. One resource is eFinancialCareers.com (http://www.efinancialcareers.com). If you know what companies you'd like to work for, visit their Web sites. Chances are you will find online job listings there.