Whether you’re currently looking for a financial analyst position in the Boston area or already work as a financial analyst, you may wonder what the salary forecast looks like and where your own salary falls within that range.
According to salary data gathered by Salary.com and Indeed.com, financial analysts in the Boston area earn, on average, $55,000 to $68,000 per year, with senior financial analysts earning approximately $88,000 per year. The salaries for both financial analysts and senior financial analysts began trending upwards again in 2013 after a decrease in 2011 and 2012 resulting from the country’s economic downturn in 2009.
Boston’s average salaries for financial analysts keep the cite competitive among other major metropolitan areas in the eastern United States. In New York, senior financial analysts salaries reached a median of $102,032 in 2013, while in Washington, DC, the median was $94,857 for the same year. Both numbers are expected to increase in 2014.
Financial analysts and senior financial analysts have a number of serious job responsibilities. In the process of compiling and analyzing financial information for the organizations or clients they serve, financial analysts develop integrated revenue/expense analyses, reports, presentations, and projections. They create regular reports on the financial health of the company in a number of different areas and with different focuses; reports issued monthly, quarterly, and annually are not uncommon. A financial analyst may also be responsible for identifying trends and making financial forecasts, and for reporting this information to senior management.
Most financial analysts in the Boston area have at least a bachelor’s degree, with many having completed graduate-level work as well. They typically have four to seven years’ experience in the field of finance. Because financial analysts perform a wide range of complicated tasks, they must be self-directing and able to juggle multiple competing considerations simultaneously. Time management, organization, and communication skills are a must. Some financial analysts, particularly those at the senior level, may also be expected to manage and direct the work of other financial professionals within the organization.
At Daley and Associates, our Boston-based financial industry recruiters help place financial professionals in top jobs throughout the Northeast. If you are looking for financial analyst jobs in Boston MA, contact our team today.
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