How to Become a Financial Analyst
Artificial intelligence (AI) is set to reshape the finance industry, but financial analysts are still in high demand.
Financial analysts give leaders key insights into the financial health of their organizations. The Bureau of Labor Statistics (BLS) projects rapid growth for jobs in the field over the next several years, with employment projected to grow at a much faster pace than the average rate for all occupations.
Technology like AI, however, is shrinking Wall Street teams as more tasks are being automated. That means the path to becoming a financial analyst is shifting. So you’ll need to adapt to rapidly changing technology if you want to stay competitive in the job market.
How to Become a Financial Analyst in 6 Steps
Becoming a financial analyst doesn’t happen overnight. You’ll likely need a degree, connections, and some real-world experience before you can step into this high-demand role.
Step 1: Earn a Degree
A degree in finance is generally a good starting point to kicking off your career as a financial analyst. Most financial analyst roles require at least a bachelor’s degree, according to the BLS.
Finance degrees generally dive deep into analysis, and many also include an internship requirement to help you get real-world experience while you study.
You can also pursue a more specialized degree in an area like financial technology, or fintech. A number of schools even offer degrees with a focus on AI, such as Arizona State University’s bachelor’s in AI in business.
You don’t need to step away from the workforce to get that degree. Business schools have in recent years focused their online offerings toward working professionals who don’t want to put their career on pause.
Step 2: Get Real-World Experience
Real-world experience through an internship can help boost your job prospects after you graduate.
Finance internships can be lucrative. Take the McCombs School of Business at The University of Texas at Austin, for example. It reported an average monthly salary of more than $5,000 for its interns in the finance industry.
A number of programs, including McCombs, have in-house coaching to help connect students with internships through alumni and partner organizations.
If you’re already a working professional finishing a degree in finance, your current work experience can also help boost your career prospects. References from professional colleagues, even outside of the realm of finance, can speak to your human skills.
Employers have indicated in previous Graduate Management Admission Council (GMAC) research that strategic thinking and decision-making will be important for business graduates across sectors over the next few years, even as AI grows in importance.
Step 3: Build a Professional Network
A job market expert previously told BestColleges that networking will be key for new college graduates as they look for a job — and that online students can network just as well as in-person learners.
That’s no surprise: Making a human connection can help you stand out from the stack of resumes. A number of online degree programs have gone out of their way to add networking options for their students, including online events with employers and collaboration with their peers.
Networking is increasingly an online activity. Reaching out to a potential employer via LinkedIn for a casual conversation can help boost your job prospects and provide you with key insights about the industry.
Getting industry insights is a crucial addition to your education.
A recent survey sponsored by the Hult International Business School found that only 24% of recent U.S. college graduates said they had all the skills they need for their current role. And 77% said they learned more in six months on the job than during their full undergraduate studies.
Step 4: Emphasize Your Tech Skills
Tech and finance go hand in hand.
Take the booming fintech industry, which the World Economic Forum notes is growing its customer base rapidly across the globe. That broad industry includes everything from cryptocurrency to AI.
AI is also automating a number of financial analysis tasks.
The AI company V7 Labs notes that AI can assist broadly with the financial analyst field, including helping to format and interpret data. Those tasks have traditionally been consigned to entry-level roles, meaning people kicking off their financial analyst career are the most vulnerable to the ever-evolving technology.
Working with AI and other emerging technologies is a reality for financial analysts, and having skills in those areas will be important for landing a job.
Step 5: Apply for Jobs
Now that you’ve got a degree and some relevant experience under your belt, you’re in a good place to start applying for jobs.
Online job boards and social media platforms are a good place to start, but don’t underestimate the value of your school’s alumni network when looking for an entry-level role. As stated above, making a human connection is a great way to stand out in the application pile.
Step 6: Get Certified
Professional certifications are a good way to highlight your skills and stand out to employers, and there are a number available for financial analyst roles.
Certifications are usually something done in tandem with work experience rather than before you get a job, but they can highlight your skills and help you advance your career as a financial analyst.
The chartered financial analyst (CFA) certification from the CFA Institute is the most widely respected credential for financial analysts. This certification includes exams and a work experience requirement, although you don’t need work experience to start working toward becoming a CFA.
How Long Does It Take to Become a Financial Analyst?
The timeline to become a financial analyst varies depending on your career and personal experience.
If you’re one of millions of Americans with some college but no credential, you might pursue an accelerated online finance degree and become an analyst in just a year or two. If you have no prior college experience, it might take upwards of four years to graduate and start looking for jobs.
If you’re a working professional who wants to pursue a part-time degree online, that timeline might be further extended. Many online programs feature asynchronous classes so you can work toward your degree on your own schedule.
What Does a Financial Analyst Do?
Financial analysts help leaders make financial decisions.
That means they dive deep into their companies’ finances to get a better understanding of risks and opportunities. They’re key monitors of their companies’ financial health, and they advise company leaders. They can also work for individuals.
Financial analysts work in every industry, although the highest-paid analysts are found in the investment and securities field, according to the BLS.
How Much Does a Financial Analyst Make?
Financial analysts were paid a median annual salary of $101,910 as of May 2024, according to the BLS.
Financial analysts work in every sector, however, and pay varies by industry. Those working in the securities and investments industry earned a median annual wage of $124,050 in May 2024, whereas analysts in the insurance industry had a median annual salary of $93,030.
You’ll likely make less than that in an entry-level role. Pay for the lowest 10% of earners in the profession was less than $62,410.
Frequently Asked Questions About Becoming a Financial Analyst
Professional certifications aren’t a requirement to become a financial analyst, but they can help boost your career prospects. The chartered financial analyst certification from the CFA Institute is a widely respected credential, although it has a work experience requirement.
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by Elin Johnson
Updated June 10, 2025