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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

  • $74,244

    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 jobs

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Bank Analyst Career Paths

Bank Analyst
Vice President Vice President And Manager Controller
Accounting Officer
7 Yearsyrs
Associate Senior Associate Assistant Controller
Assistant Treasurer
5 Yearsyrs
Analyst Finance Analyst
Assistant Vice President
7 Yearsyrs
Finance Analyst Controller Chief Finance Officer
Chief Finance And Operating Officer
14 Yearsyrs
Business Analyst Senior Finance Analyst Controller
Corporate Controller
12 Yearsyrs
Associate Assistant Vice President Credit Officer
Credit Director
10 Yearsyrs
Team Leader Operations Manager Assistant Vice President
Credit Officer
5 Yearsyrs
Data Analyst Business Analyst Senior Finance Analyst
Finance Planning Manager
8 Yearsyrs
Vice President President Finance Advisor
Finance Vice President
9 Yearsyrs
Analyst Business Analyst Assistant Vice President
Manager, Assistant Vice President
7 Yearsyrs
Business Analyst Product Manager General Manager
Managing Director
11 Yearsyrs
Senior Analyst Finance Manager Finance Director
Senior Director Of Finance
14 Yearsyrs
Assistant Vice President Program Manager Portfolio Manager
Senior Portfolio Manager
10 Yearsyrs
Operations Specialist Account Manager Relationship Manager
Senior Relationship Manager
10 Yearsyrs
Assistant Vice President Office Manager Staff Accountant
Tax Manager
8 Yearsyrs
Team Leader Data Analyst Senior Finance Analyst
Treasury Manager
9 Yearsyrs
Finance Analyst Assistant Vice President
Vice President And Manager
10 Yearsyrs
Operations Specialist Operations Manager Assistant Vice President
Vice President And Portfolio Manager
10 Yearsyrs
Data Analyst Finance Analyst Assistant Vice President
Vice President Operation Manager
9 Yearsyrs
Senior Analyst Senior Finance Analyst Assistant Vice President
Vice President, Product Manager
9 Yearsyrs
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Bank Analyst Demographics

Gender

Male

49.5%

Female

43.7%

Unknown

6.9%
Ethnicity

White

67.6%

Asian

18.7%

Hispanic or Latino

9.8%

Unknown

3.0%

Black or African American

0.9%
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Languages Spoken

Spanish

35.8%

French

13.4%

Chinese

11.9%

Mandarin

7.5%

Russian

4.5%

Portuguese

3.0%

German

3.0%

Japanese

3.0%

Hindi

3.0%

Arabic

3.0%

Swahili

1.5%

Ukrainian

1.5%

Cantonese

1.5%

Urdu

1.5%

Persian

1.5%

Armenian

1.5%

Korean

1.5%

Macedonian

1.5%
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Bank Analyst Education

Schools

University of Connecticut

9.9%

University of Phoenix

9.9%

University of Central Florida

5.6%

Florida State University

5.6%

Cornell University

5.6%

University of Rochester

4.2%

University of Michigan - Ann Arbor

4.2%

Loyola University of Chicago

4.2%

Wake Forest University

4.2%

New York University

4.2%

University of California - Los Angeles

4.2%

Villanova University

4.2%

University of Pennsylvania

4.2%

Texas Christian University

4.2%

Johns Hopkins University

4.2%

Arizona State University

4.2%

Northeastern University

4.2%

University of Notre Dame

4.2%

University of Delaware

4.2%

University of Chicago

4.2%
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Majors

Business

29.3%

Finance

21.8%

Accounting

11.7%

Economics

8.4%

Management

3.4%

Marketing

3.4%

Political Science

3.1%

Criminal Justice

2.2%

Mathematics

1.7%

Law

1.7%

Education

1.7%

International Business

1.4%

Psychology

1.4%

Project Management

1.4%

Computer Science

1.4%

Statistics

1.4%

General Studies

1.4%

Management Information Systems

1.1%

Human Resources Management

1.1%

Communication

1.1%
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Degrees

Bachelors

45.7%

Masters

32.5%

Other

11.6%

Associate

5.2%

Doctorate

2.5%

Certificate

2.0%

Diploma

0.5%
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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
Analyst, Banking, Financial Institutions Group Barclays Capital Inc. New York, NY Mar 09, 2016 $95,000
Corporate Banking Analyst Citibank, N.A. New York, NY Jan 09, 2016 $95,000
Corporate Banking Analyst Citicorp North America, Inc. New York, NY Jan 09, 2016 $95,000
Analyst, Power & Utilities, Corporate Banking CIBC World Markets Corp. New York, NY Sep 03, 2016 $92,435 -
$110,000
Global Wealth Management, Banking Analyst Jpmorgan Chase & Co. Philadelphia, PA Sep 17, 2016 $90,000
Corporate Banking Analyst Citicorp North America, Inc. New York, NY Nov 08, 2015 $90,000
Corporate Banking Analyst Citicorp North America, Inc. New York, NY Jan 09, 2016 $90,000
Corporate Banking Analyst Citicorp North America, Inc. Houston, TX Jan 09, 2016 $90,000
Banking Analyst Jpmorgan Chase & Co. New York, NY Aug 12, 2015 $85,000
Analyst, Banking Barclays Capital Inc. New York, NY Oct 21, 2016 $85,000
Corporate Banking Analyst Citicorp North America, Inc. New York, NY Nov 08, 2015 $85,000
Banker Analyst Jpmorgan Chase & Co. Miami, FL Nov 23, 2015 $85,000
Analyst, Banking Barclays Capital Inc. New York, NY Mar 09, 2016 $85,000
Banker Analyst Jpmorgan Chase & Co. Miami, FL Sep 05, 2016 $85,000
Private Banking Analyst Jpmorgan Chase & Co. New York, NY Aug 23, 2016 $85,000
Banker Analyst Jpmorgan Chase & Co. New York, NY Aug 08, 2015 $85,000
Corporate Banking Analyst Citicorp North America, Inc. New York, NY Aug 01, 2014 $80,000
Corporate Banking Analyst Citigroup Global Markets Inc. New York, NY Dec 09, 2013 $80,000
Analyst, Corporate Banking RBC Capital Markets, LLC New York, NY Oct 01, 2014 $80,000
Analyst, Power & Utilities, Corporate Banking CIBC World Markets Corp. New York, NY Sep 01, 2015 $80,000 -
$100,000

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Top Skills for A Bank Analyst

SuspiciousActivityClientPortfoliosEnsureComplianceLoansClientRelationshipsDueDiligenceAssetCustomerServiceAuditBankAccountsHighRiskOfacSARFinancialInstitutionsCTRRealEstateKYCCreditCardFinancialServicesACH

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Top Bank Analyst Skills

  1. Suspicious Activity
  2. Client Portfolios
  3. Ensure Compliance
You can check out examples of real life uses of top skills on resumes here:
  • Monitored customer's transactions for suspicious activity via GIFTS.
  • Analyzed client portfolios for retirement or education cost planning.
  • Audited filings to ensure compliance with internal and external regulatory requirements.
  • Work closely with other departments and clients in processing and underwriting loans.
  • Assisted with the on-boarding process of new client relationships, analyzed current portfolios to identify new business while leveraging existing business.

Top Bank Analyst Employers

Bank Analyst Videos

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

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