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Job outlook for finance analysts in the United States
Finance analyst job growth summary. After extensive research, interviews, and analysis, Zippia's data science team found that:
The projected finance analyst job growth rate is 9% from 2018-2028.
About 31,900 new jobs for finance analysts are projected over the next decade.
Finance analyst salaries have increased 9% for finance analysts in the last 5 years.
There are over 298,552 finance analysts currently employed in the United States.
There are 138,600 active finance analyst job openings in the US.
The average finance analyst salary is $69,887.
Are finance analyst jobs in demand?
Finance analyst job and salary trends over time
Finance analyst jobs over time
Finance analyst job growth rate over time
| Year | # of jobs | % of population |
|---|---|---|
| 2021 | 298,552 | 0.09% |
| 2020 | 259,066 | 0.08% |
| 2019 | 386,703 | 0.12% |
| 2018 | 290,037 | 0.09% |
| 2017 | 279,847 | 0.08% |
Average finance analyst salary over time
Finance analyst salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2025 | $69,887 | $33.60 | +2.6% |
| 2024 | $68,098 | $32.74 | +1.7% |
| 2023 | $66,982 | $32.20 | +1.6% |
| 2022 | $65,918 | $31.69 | +3.1% |
| 2021 | $63,932 | $30.74 | +1.8% |
Finance analyst jobs by state
Most common states for finance analysts
| Rank | State | Population | # of jobs | Employment/ 1000ppl |
|---|---|---|---|---|
| 1 | District of Columbia | 693,972 | 625 | 90% |
| 2 | Delaware | 961,939 | 294 | 31% |
| 3 | Virginia | 8,470,020 | 2,281 | 27% |
| 4 | Massachusetts | 6,859,819 | 1,816 | 26% |
| 5 | North Dakota | 755,393 | 187 | 25% |
| 6 | Utah | 3,101,833 | 739 | 24% |
| 7 | Maryland | 6,052,177 | 1,416 | 23% |
| 8 | Wyoming | 579,315 | 131 | 23% |
| 9 | Minnesota | 5,576,606 | 1,221 | 22% |
| 10 | Vermont | 623,657 | 131 | 21% |
| 11 | Washington | 7,405,743 | 1,468 | 20% |
| 12 | Colorado | 5,607,154 | 1,143 | 20% |
| 13 | Rhode Island | 1,059,639 | 214 | 20% |
| 14 | Illinois | 12,802,023 | 2,439 | 19% |
| 15 | Connecticut | 3,588,184 | 667 | 19% |
| 16 | Alaska | 739,795 | 142 | 19% |
| 17 | Wisconsin | 5,795,483 | 1,022 | 18% |
| 18 | New Hampshire | 1,342,795 | 242 | 18% |
| 19 | New York | 19,849,399 | 3,429 | 17% |
| 20 | South Dakota | 869,666 | 147 | 17% |
Most common cities for finance analysts
| Rank | City | # of jobs | Employment/ 1000ppl | Avg. salary |
|---|---|---|---|---|
| 1 | Lansing | 20 | 17% | $61,905 |
| 2 | Atlanta | 51 | 11% | $55,508 |
| 3 | Tallahassee | 17 | 9% | $52,389 |
| 4 | Washington | 56 | 8% | $70,206 |
| 5 | Boston | 52 | 8% | $73,128 |
| 6 | Des Moines | 18 | 8% | $56,096 |
| 7 | Little Rock | 15 | 8% | $55,195 |
| 8 | Miami | 22 | 5% | $52,192 |
| 9 | Tampa | 18 | 5% | $52,001 |
| 10 | Baltimore | 25 | 4% | $67,061 |
| 11 | Sacramento | 20 | 4% | $83,447 |
| 12 | Indianapolis | 25 | 3% | $58,019 |
| 13 | Detroit | 20 | 3% | $62,684 |
| 14 | Denver | 19 | 3% | $56,346 |
| 15 | Chicago | 62 | 2% | $64,159 |
| 16 | Phoenix | 29 | 2% | $60,929 |
| 17 | San Diego | 23 | 2% | $69,569 |
| 18 | San Francisco | 17 | 2% | $84,858 |
| 19 | Los Angeles | 36 | 1% | $74,183 |
Finance Analyst job outlook: Expert opinions
Our panel of finance analyst experts
UMass Lowell
Merrimack College
University of Northern Iowa
University of Cincinnati Clermont College
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
Coastal Carolina University
Drexel University
Molloy College
Michael Ciuchta Ph.D.
Associate Professor, Program Coordinator, Masters of Science in EntrepreneurshipUMass Lowell
Department of Marketing, Entrepreneurship & Innovation
What Finance 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 Finance 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 general advice would you give to a Finance Analyst?
Renee Robinson Ph.D.: How can you maximize your salary potential when starting your career in your field?
What general advice would you give to a Finance Analyst?
Rebecca Bird MAS, BS MT(ASCP): Skills that will become more important in the future are understanding quality measures. Six Sigma Lean principles are very applicable to what we do and help to keep a balanced workflow. A second thing is to understand that you and your coworkers are human. Find resilience tools that help you to keep a calm focus and practice good communication. Stay connected to national organizations for articles and training to stay connected to the future.
What Finance Analyst skills would you recommend for someone trying to advance their career?
Rebecca Bird MAS, BS MT(ASCP): To maximize your salary potential, obtain some experience while you are in school. If there is a clinic to volunteer at or a student job in a lab, take it. Higher pay is almost always offered to the evening and night shift technicians. If your new workplace is on 8-hour nights or evenings, create a schedule where evenings and nights do 10s or 12s and suggest it to the leadership. This makes a much better work-life balance.
What will help Finance Analysts increase their earning potential?
Rebecca Bird MAS, BS MT(ASCP): As a new graduate, remember why you decided on this career. Was it because you liked to help people? Then remember your results are improving the quality of life for another person. Is it because you like detective work? Then view each sample as a puzzle to work through. Is it because you want to further your education? Then never stop learning.
What Finance Analyst skills would you recommend for someone trying to advance their career?
Marilyn Krogh: Know yourself—take time to identify and name your own strengths, interests and priorities in your work life. Take advantage of the services from your university career development center.
What will help Finance Analysts increase their earning potential?
Marilyn Krogh: Have a strong undergraduate portfolio, do an internship before graduation, and be willing to 'go an extra mile' for your employer.
Keith Kerr Prof.
What general advice would you give to a Finance Analyst?
Keith Kerr Prof.: There are two approaches to maximizing your salary potential, but only one approach that is completely under our control. While we can learn the best ways to approach employers to advocate for raises and promotions, the outcome of this is dependent on many external factors. What you can control, however, is how you manage the money that you do make. Taking the time to make a detailed budget of your income, expenses and debts allows one to find ways to control their spending, thus generating extra cash for saving and investing each month.
What Finance Analyst skills would you recommend for someone trying to advance their career?
Keith Kerr Prof.: There are two basic ways that most people in the US find financial success: Either find a job that pays a high salary, or find a career that you love, regardless of the salary, and make a habit of saving and investing part of your income each month starting with your first paycheck.
If you invest only $90 a month starting at 21 and ending at retirement, you would have a bit over 1 million dollars (assuming a 10% annual gain). Wait just 5 years and start doing this at 26 and your 5 years of time will have cost you $400,000 by retirement. This is the power of compounding. Start early and even with a lower salary, you still can find financial success while pursuing careers that are meaningful to you.
What will help Finance Analysts increase their earning potential?
Keith Kerr Prof.: Grant writing is perhaps the most important skill for sociology majors to acquire. Not all sociology programs offer such skills (luckily my department at Quinnipiac does), but all sociology programs offer courses in research methodology. These skills are all skills that are needed to successfully write grants.
More so, with the research skills and practice in grant writing, one is in a position to approach potential employers as a hire that will more than pay for itself in the grant money that the potential employee can bring into the organization.
What Finance Analyst skills would you recommend for someone trying to advance their career?
Melissa Zimdars: - The ability to communicate effectively is an evergreen skill that only seems to be getting more important as the number of ways we communicate with each other, our supervisors, and with clients or outside stakeholders keeps expanding. - The ability to adapt to and learn how to navigate new technologies and platforms.
What general advice would you give to a Finance Analyst?
Zhengyang Chen He / him: To maximize your salary potential when starting your career in economics, consider two key strategies. First, aim to begin your career with a prestigious institution. If you're interested in macroeconomics, for instance, target organizations like the World Bank, International Monetary Fund, or Federal Reserve. These institutions not only offer competitive salaries but also provide invaluable experience and networking opportunities that can significantly boost your long-term earning potential. Second, consider pursuing advanced education, particularly a Ph.D. in economics or finance. While this requires a significant investment of time and effort, it can substantially increase your salary prospects, especially in research-oriented roles or high-level positions in financial institutions and consulting firms. A doctoral degree also opens doors to academic careers, which can be both intellectually rewarding and financially lucrative in the long run.
What Finance Analyst skills would you recommend for someone trying to advance their career?
Zhengyang Chen He / him: As a new graduate in economics, it's important to recognize the versatility of your degree. While you may not find many job postings explicitly requiring 'economics' as a skill, the discipline provides a robust foundation for various careers in the business world. Don't be discouraged if some people perceive economics as impractical; instead, focus on the valuable skills you've developed. Your training in critical thinking, economic modeling, and conceptual analysis equips you with a unique perspective that can be applied to diverse professional contexts. Use these skills to rapidly adapt to new work environments, acquire additional competencies, and navigate complex business situations. Your economics background gives you a distinct advantage in understanding market dynamics and decision-making processes, which are valuable in numerous industries.
What will help Finance 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.
Fawen Zhang PhD
Professor of AudiologyUniversity of Cincinnati Clermont College
Communication Disorders Sciences And Services
What will help Finance Analysts increase their earning potential?
Fawen Zhang PhD: This is perfect! Thank you so much. We will be sure to feature your response in the article and send a draft over for your review before we promote it.
What general advice would you give to a Finance Analyst?
Victor Menaldo: Learn, learn and learn some more. Adopt a growth mindset where you never stop learning. Gain economic literacy and financial literacy and historical literacy and statistical literacy. This will allow you to complement AI: ask it good questions, contextualize and evaluate its answers, and ask good follow up questions.
What Finance Analyst skills would you recommend for someone trying to advance their career?
Victor Menaldo: Interacting with AI and knowing how to best exploit it to get the most out of it: increase productivity and value added in whatever field one is in.
What will help Finance 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 general advice would you give to a Finance Analyst?
Travis Taylor Ph.D.: For economics graduates starting their careers, adaptability and a diverse skill set are critical. Economics majors are equipped with in-demand analytical skills that extend far beyond traditional economist roles. Employers in various fields such as banking, sports analytics, budget analysis, and pricing strategy highly value the critical thinking and quantitative analysis skills that they bring. It's important to recognize and communicate how these skills apply across different roles, whether it's analyzing market trends for a sports franchise or managing financial portfolios. Engage in continuous learning to keep your knowledge and skills current (particularly in the era of AI), and expand your professional network through internships, conferences, and alumni events. This proactive approach will help you navigate your career path effectively, even in sectors that may not explicitly advertise for economists.
What Finance 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 Finance 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 Finance Analyst?
Tove Rasmussen: Tove Rasmussen advises graduates beginning their career in the field to...
What will help Finance Analysts increase their earning potential?
Tove Rasmussen: Tove Rasmussen suggests that to maximize salary potential when starting a career in the field, individuals should...
What Finance 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.
What will help Finance Analysts increase their earning potential?
Timothy Rich PhD: In social science fields, many of the highest paid jobs straight out are government related or data analysis related. Without developing research, writing, and in some cases foreign language skills, this will be a limitation. Depending on the desired job, a graduate degree may be required and students should be maximizing their exposure to graduate-style experiences as undergrads to not only get into prestigious law schools, master's programs, etc., but to take advantage of the internship and research opportunities that first year entrants are rarely equipped to handle.
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 Finance 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 will help Finance Analysts increase their earning potential?
Stephanie Lain Ph.D.: The most important skills in my view are flexibility in thinking- the ability to apply knowledge to new situations- and the so-called "soft skills", being able to work with people face-to-face. This is a skill that has somewhat been lost with the advent of Zoom and rise of AI technologies but it is very important in building human connection.
What general advice would you give to a Finance 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 will help Finance Analysts increase their earning potential?
Russ McCullough PhD: When starting your career, it is important to stay in the minds of your bosses. Attend special events the company is hosting, and practice your relationship skills. Do some research on small talk, hand-shakes, and being comfortable in settings outside of your direct workspace. This is definitely a skill so that you do not come off "weird", make sure to practice it in low-cost settings like church and Walmart. You will then be more comfortable in the parking lot, elevator, or other common space when you have that chance meeting with your boss.
What general advice would you give to a Finance Analyst?
Dr. Paige Novak P.E. (Minnesota), BCEE: Ask questions, stay curious and open minded, take opportunities to learn and develop new skills.
What will help Finance Analysts increase their earning potential?
Dr. Paige Novak P.E. (Minnesota), BCEE: Get experience on a lot of different projects, say 'yes' to learning and development opportunities, and take the PE when you are able.
What general advice would you give to a Finance 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 Finance 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 will help Finance Analysts increase their earning potential?
Dr. Natalia Boliari PhD: Skills in research, programming, and modeling. Research skills are difficult to develop and many students don't have the patience or even the desire to acquire them. But they are critical for careers in finance and remain a top set of skills for employers. Programming and modeling helps with decision making by reducing (potentially) the degree of economic and market uncertainties as well as with forecasts. So definitely invest time in learning and continuously developing research and programming skills in the career niche you are pursuing.
Mark Chandler
Director of Government Relations and Professor of PracticeCoastal Carolina University
Intelligence, Command Control And Information Operations
What Finance Analyst skills would you recommend for someone trying to advance their career?
Mark Chandler: First, focus on being good at your job. Focus on learning your specific assigned area. Get the basics down – analytic skills, communication skills. Build a strong work ethic and professional foundation. If you can find a good mentor, link up with them. Be willing to go the “extra mile” in being a team player and doing things to help others on the team, and put in the hours. In intelligence, you will not always like what policy makers do or say. It’s not our job to agree or disagree with the policy, our job is to study the situation, present the facts and then present a fact-based analytic assessment. Keep opinion, bias, and politics out of our work. This will be a challenge, but it’s one you have to recognize in order to not succumb to it.
What Finance 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 Finance Analysts increase their earning potential?
Michael Rosino PhD: One thing that I always emphasize to students is to confidently craft your story when applying for jobs and preparing materials. While it may feel uncomfortable to come off as confident, it is important not to downplay your skills and experience. So, my advice is to think deeply about why you would be a good fit for each job and to highlight the concrete skills and experiences you have gained - especially in terms of topical background, technical acumen with specific software or methodologies or research/writing skills. Secondly, I suggest looking at which fields are in high demand. While it is not always possible because people may have geographic constraints, considering as many wide opportunities in all kinds of places can also be beneficial. Two other pieces of advice which may be more relevant to those a bit further on would be to negotiate when you are offered a mid-level or professional job and to ask for benefits and salary and to consider going back to gain additional education such as a Master's degree to qualify for higher-paying and more prestigious jobs.