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Job outlook for bank analysts in the United States
Are bank analyst jobs in demand?
Bank analyst job and salary trends over time
Bank analyst jobs over time
Bank analyst job growth rate over time
| Year | # of jobs | % of population |
|---|---|---|
| 2021 | 1,317 | 0.00% |
| 2020 | 1,658 | 0.00% |
| 2019 | 1,656 | 0.00% |
| 2018 | 1,381 | 0.00% |
| 2017 | 1,327 | 0.00% |
Average bank analyst salary over time
Bank analyst salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2025 | $85,532 | $41.12 | +2.6% |
| 2024 | $83,343 | $40.07 | +1.7% |
| 2023 | $81,976 | $39.41 | +1.6% |
| 2022 | $80,674 | $38.79 | +3.1% |
| 2021 | $78,244 | $37.62 | +1.8% |
Bank analyst jobs by state
Most common states for bank analysts
| Rank | State | Population | # of jobs | Employment/ 1000ppl |
|---|---|---|---|---|
| 1 | District of Columbia | 693,972 | 443 | 64% |
| 2 | Oklahoma | 3,930,864 | 1,001 | 25% |
| 3 | Kansas | 2,913,123 | 708 | 24% |
| 4 | Virginia | 8,470,020 | 1,503 | 18% |
| 5 | North Dakota | 755,393 | 138 | 18% |
| 6 | Delaware | 961,939 | 165 | 17% |
| 7 | Massachusetts | 6,859,819 | 1,073 | 16% |
| 8 | Maryland | 6,052,177 | 942 | 16% |
| 9 | Minnesota | 5,576,606 | 824 | 15% |
| 10 | Vermont | 623,657 | 91 | 15% |
| 11 | Colorado | 5,607,154 | 783 | 14% |
| 12 | Wyoming | 579,315 | 83 | 14% |
| 13 | New York | 19,849,399 | 2,309 | 12% |
| 14 | Illinois | 12,802,023 | 1,560 | 12% |
| 15 | Washington | 7,405,743 | 857 | 12% |
| 16 | Wisconsin | 5,795,483 | 673 | 12% |
| 17 | Rhode Island | 1,059,639 | 127 | 12% |
| 18 | South Dakota | 869,666 | 100 | 11% |
| 19 | Alaska | 739,795 | 78 | 11% |
| 20 | Connecticut | 3,588,184 | 361 | 10% |
Most common cities for bank analysts
| Rank | City | # of jobs | Employment/ 1000ppl | Avg. salary |
|---|---|---|---|---|
| 1 | Carlsbad | 1 | 1% | $81,843 |
| 2 | Tempe | 1 | 1% | $94,423 |
| 3 | Chicago | 4 | 0% | $75,029 |
| 4 | Los Angeles | 3 | 0% | $83,052 |
| 5 | San Francisco | 3 | 0% | $92,169 |
| 6 | Boston | 2 | 0% | $84,798 |
| 7 | Minneapolis | 2 | 0% | $91,058 |
| 8 | New York | 2 | 0% | $90,085 |
| 9 | Atlanta | 1 | 0% | $73,482 |
| 10 | Birmingham | 1 | 0% | $73,428 |
| 11 | Detroit | 1 | 0% | $94,816 |
| 12 | Houston | 1 | 0% | $82,240 |
| 13 | Indianapolis | 1 | 0% | $76,108 |
| 14 | Montgomery | 1 | 0% | $73,650 |
| 15 | Phoenix | 1 | 0% | $94,504 |
| 16 | Tampa | 1 | 0% | $75,843 |
Bank Analyst job outlook: Expert opinions
Our panel of bank analyst experts
UMass Lowell
University of Northern Iowa
University of Washington
Christopher Newport University
University of Southern Maine
Western Kentucky University
John Jay College of Criminal Justice of the City University of New York
University of California, Santa Cruz
Ottawa University at Overland Park
University of Minnesota - Twin Cities
Manhattan College
Drexel University
Rutgers, The State University of New Jersey
Wake Forest University
Saint Cloud State University
University of Nebraska - Omaha
University of Oregon
American University
Michael Ciuchta Ph.D.
Associate Professor, Program Coordinator, Masters of Science in EntrepreneurshipUMass Lowell
Department of Marketing, Entrepreneurship & Innovation
What Bank Analyst skills would you recommend for someone trying to advance their career?
Michael Ciuchta Ph.D.: Obviously we are seeing a tremendous increase in AI and other digital technologies. These will become a more crucial skill set for many careers going forward. But I wouldn't downplay the role of what are traditionally seen as soft skills like empathy, communications, and judgment. Not only can these distinguish you from robots but from your human competitors as well.
What will help Bank Analysts increase their earning potential?
Michael Ciuchta Ph.D.: If all you want is the highest potential starting salary, then you should aim for careers that offer them. But that is a shortsighted way to view things. For example, many careers that have tournament-like pay structures (think entertainment) often have very low starting salaries but the so-called winners enjoy outsized financial gains. If you are thinking about a more traditional career, I think it's important to make sure you are more valuable to your employer than they are to you. This means you have to market yourself, both to your current employer as well as to potential ones. Of course, this approach may not be for everyone and maximizing your salary potential is only one thing you should be considering when assessing job and career opportunities.
Renee Robinson Ph.D.
Professor of CommunicationWhat will help Bank Analysts increase their earning potential?
Renee Robinson Ph.D.: That would be awesome! We were hoping you could answer the following questions: 1. What general advice would you give to a graduate beginning their career in the field?
What will help Bank Analysts increase their earning potential?
Zhengyang Chen He / him: In the past three decades and foreseeable future, data analytics skills are likely to become increasingly crucial in the economics field. This trend necessitates a strong foundation in statistics, probability theory, coding, and data visualization. The synergy between economics and data analytics is becoming more pronounced; economic theory provides the framework to interpret data meaningfully, while data analytics offers new avenues to test and refine economic models. Proficiency in programming languages like Python or R, familiarity with machine learning techniques, and the ability to communicate insights through effective data visualization will be highly sought after. These skills will not only make you more competitive in the job market but also enable you to contribute more substantially to economic research and policy analysis.
What will help Bank Analysts increase their earning potential?
Victor Menaldo: Develop oral communication skills that allow you to speak in an articulate manner and organize your thoughts to signal your competence, knowledge, work ethic, and willingness to keep learning and improving.
What Bank Analyst skills would you recommend for someone trying to advance their career?
Travis Taylor Ph.D.: The integration of technology and economics will deepen, making skills in data science and artificial intelligence increasingly vital for economists. Proficiency in programming languages such as Python, STATA, or R, along with a strong grasp of machine learning applications, will enhance marketability. These technical skills, coupled with the ability to effectively communicate complex data insights, will be useful. Soft skills such as project management and collaborative problem-solving will also be essential as economic projects often involve interdisciplinary teams. For those interested in non-profit administration, understanding public policy, fundraising, and program evaluation will be valuable, as these roles require both economic acumen and the ability to secure and manage resources efficiently.
What will help Bank Analysts increase their earning potential?
Travis Taylor Ph.D.: To maximize your salary potential, consider developing expertise in specialized, high-demand areas such as quantitative modeling, financial technology, or public policy analysis. Certifications in data analysis, economic modeling, or compliance can also make you more attractive to employers. Look for opportunities in sectors that traditionally pay well for economic expertise, including technology, finance, consulting, and select government positions. One can also consider roles in growth areas like international commerce and non-profit administration where skills in economic analysis and budget management are in-demand. Effective salary negotiations start with being well-informed about industry standards and articulating your unique value derived from education/training, internships, and project experiences.
Tove Rasmussen
LecturerUniversity of Southern Maine
Specialized Sales, Merchandising And Marketing Operations
What general advice would you give to a Bank Analyst?
Tove Rasmussen: Tove Rasmussen advises graduates beginning their career in the field to...
What Bank Analyst skills would you recommend for someone trying to advance their career?
Tove Rasmussen: Tove Rasmussen believes that the skills that will become more important and prevalent in the field in the next 3-5 years are...
What Bank Analyst skills would you recommend for someone trying to advance their career?
Timothy Rich PhD: Think about the types of jobs that interest you and the skills necessary for those jobs early. So many students start thinking about post-graduation life spring their senior year, when it should be an incremental process much earlier. Another pieces of advice would be to talk to faculty and alum about your interests, find internship or research opportunities when possible, and try to figure out early your strengths and weaknesses. It's easy for students, especially high performing ones, to not fully consider what their weaknesses are. I encourage students to jot down what they see as their skills too and to share them with others. It helps them to identify what's a common skill versus something that might make them stick out.
Professor Shonna Trinch Ph.D.
ProfessorJohn Jay College of Criminal Justice of the City University of New York
Ethnic, Cultural Minority, Gender, And Group Studies
What general advice would you give to a Bank Analyst?
Professor Shonna Trinch Ph.D.: Being able to negotiate a salary is also a skill that students need to learn and one that is rarely taught in college. Students need to be able to ask for more than they are offered, but also take jobs at entry levels, prove themselves and then ask for an increase in pay six months into the job after they have shown that they are doing the work and achieving their goals.
What Bank Analyst skills would you recommend for someone trying to advance their career?
Professor Shonna Trinch Ph.D.: Analysis and critical thinking, writing and making strong arguments are indispensable job market skills. Concepts such as 'ethnicity,' 'gender' and 'minority' are constructed in social and historical spaces and times, and students with college degrees can help de-naturalize these categories to make others understand how policy, programming and marketing might not be achieving their stated goals.
What Bank Analyst skills would you recommend for someone trying to advance their career?
Stephanie Lain Ph.D.: I would advise graduates to be open to considering jobs in lots of different fields. The skills acquired through their major- such as problem-solving, critical thinking, and writing- are ones that transfer well to a variety of situations.
What general advice would you give to a Bank Analyst?
Russ McCullough PhD: Business Economics is a degree that can open many doors for careers. You can feel confident applying to positions that are open to many business degrees because economics gives you a quantitative edge over many other degrees. Therefore, I recommend that you create a vision of the type of job you see yourself at in 10 years and apply to positions now that help you build the skill set to get there. For example, if you are a good communicator, look for some more sales oriented positions. If you are more of a number cruncher, then look for more analyst oriented positions. Smaller companies will likely have more cross-training experiences available while large corporations will likely focus your skills in on a particular area.
What general advice would you give to a Bank Analyst?
Dr. Paige Novak P.E. (Minnesota), BCEE: Ask questions, stay curious and open minded, take opportunities to learn and develop new skills.
What general advice would you give to a Bank Analyst?
Dr. Natalia Boliari PhD: First, learn everything about the company you just started working for - its historical path, management, the way it's dealt with crises, etc. Second, learn everything about the specific industry the company belongs to and see how the company has developed relative to the development of the industry domestically and internationally. Third, always be extremely alert to notice new opportunities and be prepared to take calculated risks. That is, actively look for opportunities to complete as many and diverse tasks as possible, and volunteer to complete any type of work regardless of whether it seems relevant to your assigned job or not. Opportunities to learn, grow, and improve and thus to maximize your income, will only come up if you are exposed to diverse situations.
What Bank Analyst skills would you recommend for someone trying to advance their career?
Dr. Natalia Boliari PhD: Be open minded. Finance is the broad definition of an industry which provides opportunities for careers in financial consultancy, financial analysis, stock brokerage, foreign investment, modeling, exchange rate forecasts, and many more. While most of those careers are attributed to the banking industry, you can find those and others in other sectors of the economy, such as insurance, technology, health care/medical, government, and so on. So, be open and look beyond the banking sector, examine the current and predicted trends in the economy to hunt for exciting career options.
What Bank Analyst skills would you recommend for someone trying to advance their career?
Mark Stehr PhD: At the start of your career, it's very important to land a role where you learn a lot and find good mentors. The additional skills will pay dividends as your career progresses.
What will help Bank Analysts increase their earning potential?
Gal Hochman: Always display genuine interest in the subject matter, maintain a friendly and collaborative attitude with your peers, and consistently work towards self-improvement. It's important to never settle for the current state of things, but instead, continuously seek ways to progress and surpass existing standards.
What Bank Analyst skills would you recommend for someone trying to advance their career?
Dr. Mark Evans: Don't stop learning. Treat your first job like more graduate school. Learn everything you can.
What Bank Analyst skills would you recommend for someone trying to advance their career?
Emily Munson: Embarking on a career after college is an exciting time full of new opportunities. It's a chance to apply some of the knowledge you learned in college, meet new people, and demonstrate your skills. New graduates need to be self-aware when they enter their careers---think about how their actions reflect upon themselves and the company. For example, arriving at work on time shows respect for the employer while working late to finish a project shows dedication and eagerness to succeed. Working hard is essential, as companies usually reward employees who are eager to help the company succeed. Communicating well with co-workers and clients shows awareness of others and yourself. Employers often want workers who will figure out problems on their own, but also ask for help when needed. Finding this balance may be tricky, but it is important to do both—show initiative to find answers and ask questions to demonstrate willingness to learn. Also, be patient and kind to yourself. You will have a lot to learn. The workforce is comprised of diverse personalities and situations. Expect frustration and satisfaction, struggles and successes, good days and bad days. Believe in yourself—you can do this!
What general advice would you give to a Bank Analyst?
Clemens Kownatzki PhD, MBA: To be successful today requires essentially the same basic skills and behaviors that made people successful in the past. It’s a lot about who you know, not what you know. Having some basic skills is a necessary condition but it’s not sufficient. You have to be a good communicator, have to be likeable and be a good team player. And to do those things, you need to be around people enough, develop the most important social skills and remember the important things you learned in kindergarten. Show up on time, do what you say and not say what you do and be nice to people. Essentially the golden rule: “Do unto others…” But there are also some important practical things you should do. Think about getting a CFA license or others like CAIA, CMA, CPA, FRM etc. These professional designations won’t hurt you, they can be a requirement in some jobs or at least a differentiator as you apply for jobs. You can also take the Securities Industry Examination as a precondition to getting the more recognized Series 7, 63, 65 etc. But also consider some very easy things like getting certified with the Bloomberg Market Concepts. If your business school has a Bloomberg terminal (we’re lucky because we have 4 terminals), it’s a self-paced exam that’s free on the Bloomberg terminal. Also think about joining some associations to help with getting to know people in positions. You have to network every day and keep on working that network constantly. Lastly, don’t be afraid to negotiate. Yes, it is a competitive industry and there’s always more than just a handful applying for a position but you should know your worth. While you’re networking and having conversations with executives through your network, find out what reasonable expectations should be for the work being delivered.
Ben Smith Ph.D.
Department Chair and Associate ProfessorUniversity of Nebraska - Omaha
Business/Managerial Economics
What Bank Analyst skills would you recommend for someone trying to advance their career?
Ben Smith Ph.D.: Economics is the highest paid business field and one of the highest paid fields in general. Our knowledge of both domain business knowledge and statistical tools allows us to answer useful questions for organizations. Thus, our graduates are in high demand. Moreover, because economics is a set of skills more than set of facts, economists can move from industry to industry relatively easily. These skills can be applied in a winery or a baseball team just as much as they can be applied to a non-profit.
Z. Jay Wang
Department Head, Associate Professor of FinanceUniversity of Oregon
Finance And Financial Management Services
What will help Bank Analysts increase their earning potential?
Z. Jay Wang: Students who have a history of doing work in the field outside the classroom either through internships, industry projects, or school-sponsored clubs managing financial decisions are better poised to maximize starting salary potential. Starting early to secure internships with top companies will also position students well for higher earning potential. Most top banks and firms will post internships from April/May to August, and close by the end of September for the following summer. They are also rolling, so may fill the roles by as early as June of the sophomore year for the following summer after junior year. Finally, networking with industry and alumni professionals in the companies, firms, banks prior to applying for an internship or full-time position will have an impact. The candidate will learn more about the opportunity and company culture for their resume and potential interview, and most top companies in finance will have a referral program. If the candidate impresses the internal connection with excellent questions and strategic answers, they may get a referral that moves them up in the stacks of applicants.
Octavian Ionici PhD
Sr. Lecturer in FinanceAmerican University
Finance And Financial Management Services
What Bank Analyst skills would you recommend for someone trying to advance their career?
Octavian Ionici PhD: The finance profession is lucrative, rewarding and very competitive. Graduates should do their research about the organization they are interviewing with and be able to discuss how their skills can contribute to the business. They should also know if they would rather interact with people and clients or if they are drawn to intellectual pursuits such as analysis. Do they value power, prestige status, risk, or something else? Ultimately our core values, personal goals, interests, aptitudes, and personality will shape our career paths.
Being able to articulate what sparked their interest in the financial field and why they are interested in a chosen role will be an advantage during the hiring process. While still in college, students should join a professional association like the Financial Management Association to give them more access to that broad network, as well as access to career development resources that can set them apart from the crowd.
It's also critical to get an internship (paid or unpaid) in order to show some real-life experience. They can do this while they are still in college, during the summers, or even afterwards, to get a foot in the door.
Reading the WSJ and FT daily, and listening to Bloomberg, or other financial programs as a regular practice will help them to have fluency in the language of our profession. Because the finance sector is heavily regulated and changes occur due to changing economic and political conditions, they will need to stay updated with those changes. Financial media sources will help bring them that context to stay up to date on all of these moving parts.