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Accounting Profession Occupational Outlook
Source: The 2002-03 Occupational Outlook Handbook (BLS)

Financial Analyst

Key Points

• A college degree and good interpersonal skills are among the most important qualifications for these workers.
• Although both occupations will benefit from an increase in investing by individuals, personal financial advisors will benefit more.
• Financial analysts may face keen competition for jobs, especially at top securities firms, where pay can be lucrative.

Job Outlook

Increased investment by businesses and individuals is expected to result in faster-than-average employment growth of financial analysts and personal financial advisors through 2010. Both occupations will benefit as baby boomers save for retirement and a generally better educated and wealthier population requires investment advice. In addition, people are living longer and must plan to finance more years of retirement. The rapid expansion of self-directed retirement plans, such as the 401(k) plans, is expected to continue. Most of the money in these plans is invested in mutual funds. As the number of mutual funds and the amount of assets invested in the funds increases, mutual fund companies will need increase numbers of financial analysts to recommend which financial products the funds should buy or sell. Growth in retirement plans will also increase demand for personal financial advisors to provide advice on how to invest this money.