The average annual salary for a financial analyst in the United States in 2023 is reported to be around $90,680, according to the U.S.
Bureau of Labor Statistics.
This represents a median salary for the profession.
However, salary estimates can vary significantly based on factors like experience level, industry, and geographic location.
For example, entry-level financial analysts may earn around $58,023 on average.
Senior financial analysts with more experience can make upwards of $96,423 per year on average.
Glassdoor reports the average total pay for a financial analyst in the U.S.
is $110,726, with an average base salary of $79,243 and additional cash compensation of $31,493.
According to PayScale, the average salary for a financial analyst in the U.S.
in 2023 is $67,353.
This illustrates the wide range in reported salaries for this role.
The top 25% of financial analysts earned approximately $131,340 in 2022, while the lowest 25% earned around $64,390, the U.S.
Bureau of Labor Statistics found.
Salary data from Levels.fyi indicates the average financial analyst salary across major firms is around $130,000, with significant variations based on the specific company.
Gender pay gaps exist in the financial analyst profession, with Glassdoor data showing women earn about 94.5% of what men earn for the same role.
The demand for financial analysts in the U.S.
is projected to grow by 6% from 2022 to 2032, resulting in around 27,400 new job openings per year on average.
Geographical location can also significantly impact financial analyst salaries, with New York, San Francisco, and other major financial hubs typically offering higher pay.
Specialized skills, such as expertise in financial modeling, data analysis, or a particular industry, can command higher salaries for financial analysts.
The COVID-19 pandemic has led to some fluctuations in financial analyst salaries, as companies adjust compensation to adapt to changing economic conditions.
Financial analysts working in the securities, commodity contracts, and other financial investment activities industry reported the highest median annual salary of $98,550 in 2022.
The financial services industry, which employs the majority of financial analysts, had an average salary of $92,230 in 2022, according to the U.S.
Bureau of Labor Statistics.
Certification, such as the Chartered Financial Analyst (CFA) designation, can increase a financial analyst's earning potential, with CFA charterholders often commanding higher salaries.
Factors like industry, company size, and geographic region can also contribute to the significant variation in financial analyst salaries across the United States.
The highest-paying cities for financial analysts in the U.S.
include San Francisco, New York City, and Boston, where salaries can exceed the national average.
Financial analysts working in the hedge fund and investment banking sectors tend to earn the highest salaries within the finance industry.
The growing demand for data-driven decision-making and financial analytics has led to an increased emphasis on technical skills for financial analysts, which can impact compensation.