Financial Reporting Analyst Salary
The average Financial Reporting Analyst in the United States earns approximately $59K annually. Overall cash earnings for Financial Reporting Analysts stretch from $41K on the lower end to $84K near the top, and the heftiest packages can encompass around $9K from bonuses and $7K from profit sharing. Geographic location is the biggest factor affecting pay for this group, followed by years of experience. The majority of workers are highly satisfied with their job. Women are just slightly outnumbered, with male Financial Reporting Analysts making up 53 percent of survey respondents. Most get medical and dental insurance, and a strong majority get vision plans, too. The data for this synopsis comes from respondents who took the PayScale 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.
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Popular Skills for Financial Reporting Analyst
Financial Reporting Analysts report using a wide range of professional skills. Most notably, skills in SQL, Financial Analysis, Microsoft Access, and Financial Reporting are correlated to pay that is above average. Those listing General Ledger Accounting as a skill should be prepared for drastically lower pay. The majority of those who know 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.
The average beginner in this position makes around $57K, but folks who have been around for five to 10 years see a markedly higher median salary of $67K. Financial Reporting Analysts see a median salary of $70K after reaching one to two decades on the job. Financial Reporting Analysts with more than 20 years of experience report incomes that are no higher than those with 10 to 20 years on the job.
Pay Difference by Location
For Financial Reporting Analysts, busy Atlanta offers a higher-than-average pay rate, 27 percent above the national average. Financial Reporting Analysts can also look forward to large paychecks in cities like New York (+20 percent), Louisville (+17 percent), Houston (+17 percent), and Denver (+12 percent). Financial Reporting Analysts' salaries are heavily influenced by location — Financial Reporting Analysts in Fargo bring in salaries that are 24 percent lower than the national average. Workers in Chicago and Los Angeles earn less than others in this profession; their salaries fall short of the national average by 8 percent.
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