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Become A Bank Analyst

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Working As A Bank Analyst

  • Analyzing Data or Information
  • Getting Information
  • Interacting With Computers
  • Processing Information
  • Communicating with Supervisors, Peers, or Subordinates
  • Deal with People

  • Mostly Sitting

  • Repetitive

  • $81,000

    Average Salary

What Does A Bank Analyst Do

Financial analysts provide guidance to businesses and individuals making investment decisions. They assess the performance of stocks, bonds, and other types of investments.

Duties

Financial analysts typically do the following:

  • Recommend individual investments and collections of investments, which are known as portfolios
  • Evaluate current and historical financial data
  • Study economic and business trends
  • Examine a company’s financial statements to determine its value
  • Meet with company officials to gain better insight into the company’s prospects
  • Assess the strength of the management team
  • Prepare written reports

Financial analysts evaluate investment opportunities. They work in banks, pension funds, mutual funds, securities firms, insurance companies, and other businesses. Financial analysts are also called securities analysts and investment analysts.

Financial analysts can be divided into two categories: buy-side analysts and sell-side analysts.

  • Buy-side analysts develop investment strategies for companies that have a lot of money to invest. These companies, called institutional investors, include mutual funds, hedge funds, insurance companies, independent money managers, and nonprofit organizations with large endowments, such as some universities.
  • Sell-side analysts advise financial services sales agents who sell stocks, bonds, and other investments.

Some analysts work for the business media or other research houses, which are independent from the buy and sell side.

Financial analysts generally focus on trends affecting a specific industry, geographical region, or type of product. For example, an analyst may focus on a subject area such as the energy industry, a world region such as Eastern Europe, or the foreign exchange market. They must understand how new regulations, policies, and political and economic trends may affect investments.

Investing is becoming more global, and some financial analysts specialize in a particular country or region. Companies want those financial analysts to understand the language, culture, business environment, and political conditions in the country or region that they cover.

The following are examples of types of financial analysts:

Portfolio managers select the mix of products, industries, and regions for their company’s investment portfolio. These managers are responsible for the overall performance of the portfolio. They are also expected to explain investment decisions and strategies in meetings with stakeholders.

Fund managers work exclusively with hedge funds or mutual funds. Both fund and portfolio managers frequently make buy or sell decisions in reaction to quickly changing market conditions.

Ratings analysts evaluate the ability of companies or governments to pay their debts, including bonds. On the basis of their evaluation, a management team rates the risk of a company or government not being able to repay its bonds.

Risk analysts evaluate the risk in investment decisions and determine how to manage unpredictability and limit potential losses. This job is carried out by making investment decisions such as selecting dissimilar stocks or having a combination of stocks, bonds, and mutual funds in a portfolio.

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How To Become A Bank Analyst

Financial analysts typically must have a bachelor’s degree, but a master’s degree is often required for advanced positions.

Education

Most positions require a bachelor’s degree. A number of fields of study provide appropriate preparation, including accounting, economics, finance, statistics, and mathematics. For advanced positions, employers often require a master’s degree in business administration (MBA) or a master’s degree in finance. Knowledge of options pricing, bond valuation, and risk management are important.

Licenses, Certifications, and Registrations

The Financial Industry Regulatory Authority (FINRA) is the main licensing organization for the securities industry. It requires licenses for many financial analyst positions. Most of the licenses require sponsorship by an employer, so companies do not expect individuals to have these licenses before starting a job.

Certification is often recommended by employers and can improve the chances for advancement. An example is the Chartered Financial Analyst (CFA) certification from the CFA Institute. Financial analysts can become CFA certified if they have a bachelor’s degree, 4 years of qualified work experience, and pass three exams. Financial analysts can also become certified in their field of specialty.

Advancement

Financial analysts typically start by specializing in a specific investment field. As they gain experience, they can become portfolio managers, who select the mix of investments for a company’s portfolio. They can also become fund managers, who manage large investment portfolios for individual investors. A master’s degree in finance or business administration can improve an analyst’s chances of advancing to one of these positions.

Important Qualities

Analytical skills. Financial analysts must process a range of information in finding profitable investments.

Communication skills. Financial analysts must explain their recommendations to clients in clear language that clients can easily understand.

Computer skills. Financial analysts must be adept at using software packages to analyze financial data, see trends, create portfolios, and make forecasts.

Decisionmaking skills. Financial analysts must provide a recommendation to buy, hold, or sell a security.

Detail oriented. Financial analysts must pay attention to details when reviewing possible investments, as small issues may have large implications for the health of an investment.

Math skills. Financial analysts use mathematical skills when estimating the value of financial securities. 

To be successful, financial analysts must be motivated to seek out obscure information that may be important to the investment. Many work independently and must have self-confidence in their judgment.

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Bank Analyst Career Paths

Bank Analyst
Analyst Manager Branch Manager
Manager, Assistant Vice President
7 Yearsyrs
Analyst Finance Analyst Finance Manager
Senior Finance Manager
11 Yearsyrs
Analyst Manager Chief Finance Officer
Chief Finance And Operating Officer
14 Yearsyrs
Business Analyst Project Manager Vice President
Group Vice President
9 Yearsyrs
Business Analyst Consultant Account Manager
Relationship Manager
6 Yearsyrs
Business Analyst Manager Property Manager
Portfolio Manager
7 Yearsyrs
Finance Analyst Senior Accountant Controller
Director Of Administration & Finance
11 Yearsyrs
Finance Analyst Finance Manager Controller
Director Of Operations And Finance
11 Yearsyrs
Senior Analyst Project Manager Vice President
Vice President And Portfolio Manager
10 Yearsyrs
Senior Analyst Project Manager Portfolio Manager
Senior Portfolio Manager
10 Yearsyrs
Senior Analyst Senior Finance Analyst
Finance Project Manager
8 Yearsyrs
Consultant Account Manager Relationship Manager
Senior Relationship Manager
9 Yearsyrs
Consultant Senior Accountant Senior Finance Analyst
Finance Leader
7 Yearsyrs
Credit Analyst Accountant Senior Finance Analyst
Regional Finance Manager
9 Yearsyrs
Credit Analyst Office Manager Accounting Manager
Unit Controller
9 Yearsyrs
Credit Analyst Office Manager Operations Director
Assistant Vice President Operations
8 Yearsyrs
Treasury Analyst Senior Treasury Analyst
Treasury Manager
9 Yearsyrs
Treasury Analyst Finance Manager Senior Vice President
Chief Risk Officer
9 Yearsyrs
Treasury Analyst Risk Manager Portfolio Manager
Investments Manager
6 Yearsyrs
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Do you work as a Bank Analyst?

Average Yearly Salary
$81,000
View Detailed Salary Report
$50,000
Min 10%
$81,000
Median 50%
$81,000
Median 50%
$81,000
Median 50%
$81,000
Median 50%
$81,000
Median 50%
$81,000
Median 50%
$81,000
Median 50%
$132,000
Max 90%
Best Paying Company
AMA Inc.
Highest Paying City
San Francisco, CA
Highest Paying State
Washington
Avg Experience Level
2.0 years
How much does a Bank Analyst make at top companies?
The national average salary for a Bank Analyst in the United States is $81,646 per year or $39 per hour. Those in the bottom 10 percent make under $50,000 a year, and the top 10 percent make over $132,000.

Real Bank Analyst Salaries

Job Title Company Location Start Date Salary
Foreign Banking/Due Diligence Analyst III Bank of The West San Ramon, CA Apr 20, 2015 $130,000
Analyst, Banking, Natural Resources Barclays Capital Inc. New York, NY Jun 15, 2016 $125,000
Associate/Merchant Banking Analyst Ama Capital Partners, LLC New York, NY Aug 08, 2014 $115,000
Corporate Banking Analyst U.S. Bank National Association New York, NY Mar 27, 2013 $110,000
Senior Corporate Banking Analyst Merrill Lynch New York, NY Jul 01, 2015 $95,014
Corporate Banking Analyst Citicorp North America, Inc. New York, NY Jan 09, 2016 $95,000
Corporate Banking Analyst Citibank, N.A. New York, NY Jan 09, 2016 $95,000
Analyst, Banking, Financial Institutions Group Barclays Capital Inc. New York, NY Mar 09, 2016 $95,000
Analyst, Power & Utilities, Corporate Banking CIBC World Markets Corp. New York, NY Sep 03, 2016 $92,435 -
$110,000
Corporate Banking Analyst Citicorp North America, Inc. New York, NY Aug 11, 2015 $90,000
Private Banking Analyst Jpmorgan Chase & Co. New York, NY Aug 22, 2015 $85,000
Banker Analyst Jpmorgan Chase & Co. New York, NY Aug 08, 2015 $85,000
Banking Analyst Jpmorgan Chase & Co. New York, NY Aug 09, 2015 $85,000
Banking Analyst Jpmorgan Chase & Co. New York, NY Aug 12, 2015 $85,000
Corporate Banking Analyst Citicorp North America, Inc. New York, NY Aug 11, 2015 $85,000
Corporate Banking Analyst Citigroup Global Markets Inc. New York, NY Dec 09, 2013 $80,000
Analyst, Power & Utilities, Corporate Banking CIBC World Markets Corp. New York, NY Sep 01, 2015 $80,000 -
$100,000
Corporate Banking Analyst Citicorp North America, Inc. New York, NY Aug 01, 2014 $80,000
Analyst, Corporate Banking RBC Capital Markets, LLC New York, NY Oct 01, 2014 $80,000

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Top Skills for A Bank Analyst

  1. Ensure Compliance
  2. Client Portfolios
  3. Client Relationships
You can check out examples of real life uses of top skills on resumes here:
  • Develop step-by-step operating procedures based upon process flow to ensure compliance and standardization.
  • Analyzed client portfolios for retirement or education cost planning.
  • Assisted with the on-boarding process of new client relationships, analyzed current portfolios to identify new business while leveraging existing business.
  • Reviewed commercial and personal financial statements for covenant compliance and potential sensitivity analysis.
  • Provided detailed documentation of the due diligence performed and following established escalation guidelines and documentation standards based on the transaction analysis.

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Average Salary:

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Top 10 Best States for Bank Analysts

  1. New York
  2. Connecticut
  3. California
  4. New Jersey
  5. Minnesota
  6. Virginia
  7. Massachusetts
  8. Texas
  9. Colorado
  10. District of Columbia
  • (1,432 jobs)
  • (309 jobs)
  • (3,101 jobs)
  • (586 jobs)
  • (534 jobs)
  • (1,218 jobs)
  • (785 jobs)
  • (1,663 jobs)
  • (408 jobs)
  • (374 jobs)

Bank Analyst Demographics

Gender

Male

48.6%

Female

37.8%

Unknown

13.5%
Ethnicity

White

53.7%

Asian

16.3%

Hispanic or Latino

15.0%

Black or African American

11.1%

Unknown

4.0%
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Foreign Languages Spoken

Spanish

35.4%

French

13.5%

Chinese

12.5%

Mandarin

9.4%

Portuguese

7.3%

Russian

3.1%

German

2.1%

Cantonese

2.1%

Japanese

2.1%

Hindi

2.1%

Arabic

2.1%

Italian

2.1%

Swahili

1.0%

Ukrainian

1.0%

Macedonian

1.0%

Urdu

1.0%

Persian

1.0%

Korean

1.0%
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Bank Analyst Education

Schools

New York University

8.6%

University of Phoenix

7.3%

University of Chicago

7.3%

University of Delaware

6.0%

Florida State University

6.0%

Arizona State University

5.3%

Cornell University

5.3%

University of Connecticut

5.3%

Miami Dade College

5.3%

University of Central Florida

5.3%

Columbia University

5.3%

Baruch College of the City University of New York

4.6%

University of Pennsylvania

4.0%

Pennsylvania State University

4.0%

University of Texas at Austin

4.0%

University of Rochester

3.3%

Northwestern University

3.3%

University of California - Los Angeles

3.3%

University of Florida

3.3%

Strayer University

3.3%
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Majors

Business

28.8%

Finance

26.6%

Accounting

9.8%

Economics

8.3%

Management

3.3%

Marketing

3.1%

Psychology

2.4%

Criminal Justice

2.2%

Law

2.2%

Political Science

1.9%

Education

1.5%

Communication

1.4%

International Business

1.2%

Computer Science

1.1%

Real Estate

1.1%

Mathematics

1.1%

Statistics

1.0%

Human Resources Management

1.0%

History

1.0%

Management Information Systems

0.8%
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Degrees

Bachelors

49.1%

Masters

30.5%

Other

10.4%

Associate

4.7%

Certificate

2.3%

Doctorate

2.3%

Diploma

0.7%
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Bank Analyst Videos

Day in the Life of a Corporate Banker | J.P. Morgan

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