Financial Planning Analyst Salary
An average Financial Planning Analyst in the United States can expect to take home roughly $61K annually. Final cash compensation to Financial Planning Analysts varies from around $45K to approximately $87K; choice pay grades include potential for bonuses and profit sharing as high as $10K and $4K, respectively. Earnings for this group are mostly affected by geography, followed by tenure and the individual firm. The majority of workers are highly satisfied with their job. Medical benefits are awarded to most, and a strong majority earn dental coverage. Financial Planning Analysts who participated in the survey are largely men, dominating at 66 percent. The data for this synopsis comes from respondents who took the PayScale salary survey.
Job Description for Financial Planning Analyst
The people who study potential areas for investment (such as technology, utilities, real estate, and many others) and attempt to forecast how strong those markets will be going forward are financial planning analysts. Financial planning analysts look at industry data from the market sector to which they are assigned and attempt to forecast trends. They also look at any legislation, regulations, or court cases that might affect their respective field of analysis. The analyst also looks at the economy in general and attempts to help other members of a financial institution's planning and investment team best invest the firm's money and determine how to advise clients. Financial planning analysts typically work in an office environment in banks or investment houses, normally during regular business hours.Read More...
Analysts in this occupation typically have at least a bachelor's degree in finance, business, or a related field. They also need related experience as well. A financial planning analyst must be able to examine data and extrapolate useful information to form recommendations and reports to be used by advisers and investors in the firm. As such, many financial planning analysts have a graduate-level degree in business management or finance.
Financial Planning Analyst Tasks
- Create financial strategies for customers in line with their desires and resources.
- Manage client relationships and grow customer base.
- Assess trends in client and market behavior and modify strategies to optimize financial growth.
- Manage portfolios and update customers on current or future developments.
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Popular Skills for Financial Planning Analyst
Survey results imply that Financial Planning Analysts deploy a deep pool of skills on the job. Most notably, skills in Budget Management, Financial Reporting, Forecasting, and Microsoft Excel are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Valuation, Cash Flow Management, and Process Improvement. Most people experienced in Financial Analysis also know Microsoft Excel.
Pay Difference by Location
Surpassing the national average by 25 percent, Financial Planning Analysts in Atlanta receive some of the highest pay in the country. Financial Planning Analysts can also look forward to large paychecks in cities like Seattle (+24 percent), New York (+21 percent), Houston (+19 percent), and Chicago (+12 percent). Pittsburgh is the lowest-paying area, 19 percent south of the national average. A couple other locations with smaller-than-average paychecks include St. Louis (11 percent lower) and Los Angeles (6 percent lower).
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Key Stats for Financial Planning Analyst
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