Financial Reporting Analyst Salary
Financial Reporting Analysts in the United States take home an average $59K per year. Cash earnings for Financial Reporting Analysts — including $9K in bonuses and $7K in profit sharing proceeds near the top of the pay scale — generally stretch from $41K to $84K depending on individual performance. Geography and years of experience each impact pay for this group, with the former having the largest influence. Men make up a slight majority of Financial Reporting Analysts (51 percent) who responded to the survey. A large number report receiving medical and dental coverage from their employers and a fair number collect vision insurance. Most Financial Reporting Analysts like their work and job satisfaction is high. The data for this snapshot was collected from individuals who took PayScale's salary survey.
Job Description for Financial Reporting Analyst
Financial reporting analysts' main responsibilities include preparing various financial reports and statements on a monthly or quarterly basis, depending on the company's needs. They also review expenses and budgets, ensuring that the data is correct, and prepare filings made to the Securities and Exchange Commission (SEC), as well as income and balance statements. Financial reporting analysts prepare audits, and depending on the company, they may also required to complete more specific reports depending on what they must submit to stockholders, partners, government agencies, and other relevant individuals and organizations.Read More...
Financial reporting analysts work for companies in a variety of fields, from communications to technology to health care. These individuals generally work full time in an office setting; they often work during regular business hours, although overtime may be required depending on the needs of the company.
Most companies require at least a bachelor's degree in accounting or a related field for this position; a master's degree - such as a master's of business administration (MBA) - may be preferred. Most employers also look for at least two to four years of experience in general accounting. Some knowledge of basic software programs such as the Microsoft Office suite is necessary. Additionally, most companies require knowledge of generally accepted accounting principles (GAAP) and SEC accounting policies. Financial reporting analysts should have excellent communication, interpersonal, and multitasking skills. They should work well on their own with minimal supervision, as well as in a team setting.
Financial Reporting Analyst Tasks
- Construct and update periodic reports, statements, and financial analyses.
- Coordinate with and provide information to auditors and compliance bodies.
- Review filings, press releases, and presentations containing financial data.
- Assist in financial modeling and forecasting.
Common Career Paths for Financial Reporting Analyst
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Popular Skills for Financial Reporting Analyst
Survey results suggest that Financial Reporting Analysts use a fairly large toolkit of professional skills. Most notably, skills in SQL, Microsoft Access, Financial Analysis, and Accounting are correlated to pay that is above average. General Ledger Accounting, on the other hand, is typically associated with much lower pay. Most people experienced in Financial Reporting also know Financial Analysis and Accounting.
Pay by Experience Level for Financial Reporting Analyst
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Experience does not seem to be a strong driver of pay increase in this role. Salaries of relatively inexperienced workers fall in the neighborhood of $57K, but folks who have racked up five to 10 years see a notably higher median of $68K. The average pay reported by folks with 10 to 20 years of experience is around $70K. Financial Reporting Analysts who have acquired more than two decades of experience generally do see greater compensation; their average income is approximately $77K.
Pay Difference by Location
With a pay rate for Financial Reporting Analysts that is 28 percent greater than the national average, Atlanta offers a comfortable salary for those in this profession. Financial Reporting Analysts will also find cushy salaries in New York (+24 percent), Houston (+22 percent), Louisville (+17 percent), and Denver (+12 percent). Location significantly influences compensation, with Fargo Financial Reporting Analysts earning much less — 24 percent less — than the national average. Below-median salaries also turn up in Chicago and Los Angeles (8 percent lower).
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