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Become A Summer Analyst

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Working As A Summer Analyst

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

  • Mostly Sitting

  • Repetitive

  • $65,208

    Average Salary

What Does A Summer 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 Summer 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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Summer Analyst jobs

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Summer Analyst Career Paths

Summer Analyst
Investment Analyst Senior Associate Assistant Controller
Assistant Treasurer
5 Yearsyrs
Investment Banking Analyst Finance Analyst
Assistant Vice President
7 Yearsyrs
Equity Analyst Senior Analyst Controller
Chief Finance And Operating Officer
14 Yearsyrs
Analyst Finance Analyst Controller
Corporate Controller
12 Yearsyrs
Corporate Finance Analyst Credit Analyst Credit Manager
Credit Director
10 Yearsyrs
Research Analyst Business Analyst Senior Finance Analyst
Finance Planning Manager
8 Yearsyrs
Analyst Business Analyst Senior Finance Analyst
Manager Finance Planning And Analysis
8 Yearsyrs
Investment Banking Analyst Analyst Senior Finance Analyst
Manager, Finance Analysis
8 Yearsyrs
Market Analyst Product Manager Market Manager
Market Director
10 Yearsyrs
Business Analyst Business Manager Property Manager
Portfolio Manager
7 Yearsyrs
Investment Banker Senior Finance Analyst Controller
Regional Controller
10 Yearsyrs
Business Analyst Finance Manager Finance Director
Senior Director Of Finance
14 Yearsyrs
Finance Analyst Senior Finance Analyst Finance Manager
Senior Finance Manager
11 Yearsyrs
Senior Analyst Program Manager Portfolio Manager
Senior Portfolio Manager
10 Yearsyrs
Investment Analyst Senior Analyst Accounting Manager
Tax Manager
8 Yearsyrs
Finance Analyst Assistant Vice President
Vice President And Manager
10 Yearsyrs
Senior Analyst Assistant Vice President
Vice President And Portfolio Manager
10 Yearsyrs
Research Analyst Project Manager General Manager
Vice President, Business Development
13 Yearsyrs
Trade Analyst Trader Fixed Income Manager
Vice President, Fixed Income
7 Yearsyrs
Investment Banker Business Developer Director Of Strategy
Vice President, Strategy
13 Yearsyrs
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Summer Analyst Demographics

Gender

Male

62.0%

Female

24.4%

Unknown

13.5%
Ethnicity

White

54.4%

Asian

34.7%

Hispanic or Latino

7.0%

Unknown

3.0%

Black or African American

0.9%
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Languages Spoken

Spanish

24.7%

Mandarin

18.2%

Chinese

16.2%

French

12.0%

Cantonese

4.4%

Italian

2.8%

Hindi

2.6%

Arabic

2.6%

Korean

2.4%

Japanese

2.4%

Portuguese

2.2%

German

2.2%

Russian

2.0%

Urdu

1.5%

Vietnamese

0.9%

Hebrew

0.9%

Swahili

0.6%

Indonesian

0.6%

Polish

0.6%

Turkish

0.4%
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Summer Analyst Education

Schools

Cornell University

13.4%

New York University

10.1%

Columbia University

8.2%

University of Pennsylvania

5.5%

University of Michigan - Ann Arbor

5.5%

Georgetown University

5.5%

Johns Hopkins University

4.8%

Fordham University

4.5%

Duke University

4.3%

Harvard University

4.2%

Carnegie Mellon University

4.2%

Boston University

3.6%

University of Chicago

3.6%

University of California - Berkeley

3.4%

University of North Carolina at Chapel Hill

3.4%

University of Southern California

3.3%

Princeton University

3.3%

Boston College

3.3%

Lehigh University

3.0%

University of Notre Dame

3.0%
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Majors

Finance

35.1%

Economics

18.7%

Business

13.5%

Accounting

4.9%

Mathematics

3.8%

Political Science

3.6%

Statistics

2.3%

Computer Science

1.9%

Management

1.8%

Marketing

1.8%

Management Science

1.8%

Applied Mathematics

1.8%

Real Estate

1.6%

History

1.3%

Law

1.3%

Psychology

1.2%

Operations Research

0.9%

Business Economics

0.9%

Industrial Engineering

0.9%

Information Systems

0.9%
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Degrees

Bachelors

62.9%

Masters

26.3%

Other

7.7%

Doctorate

1.7%

Certificate

1.2%

Associate

0.1%
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Top Skills for A Summer Analyst

FinancialStatementsEquityPortfolioCompaniesDueDiligenceInvestmentStrategiesIncomeAssetAllocationFinancialModelsDebtBloombergTerminalRealEstateHedgeFundForeignExchangeMarketResearchDCFPitchBooksVBALeadershipCompliancePotentialClients

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Top Summer Analyst Skills

  1. Financial Statements
  2. Equity
  3. Portfolio Companies
You can check out examples of real life uses of top skills on resumes here:
  • Pinpointed and categorized data from financial statements to assist with evaluations and optimize of credit risk management.
  • Shadowed traders on the largest trading floor between Chicago and New York City becoming familiar with daily equity transactions.
  • Produced quarterly account monitoring reports in order to review ongoing creditworthiness of portfolio companies.
  • Performed quality due diligence for private equity firm with $4.6 B in assets under management.
  • Helped with developing investment strategies and portfolio allocation for current and prospective clients.

Top Summer Analyst Employers

Summer Analyst Videos

Lloyd Blankfein's Advice to Summer Interns: Goldman Sachs Summer Internship Program 2013

CEO Lloyd Blankfein Shares Career Advice With Summer Interns

Goldman Sachs Jobs: How Graduates Get Hired

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