5 Reasons Financial Analyst Jobs Are in Demand

When it comes to careers these days, you'd be hard pressed to find a position that's more in demand than the financial analyst In fact, according to the U.S. Bureau of Labor Statistics, the number of financial analyst jobs is expected to grow at a rate of 16 percent from 2012 through 2022 – that's faster than the average for all professions. Here are five reasons:

1. Companies are profitable. As a result, most firms require an expert to deal with financial business decisions: Someone who can forecast where the company's money is – and will be – coming from and help managers decide how to invest it in ways that will ensure the greatest return.

2. The need is widespread. Again, many, if not all, companies have a need for a good financial analyst – they all need to balance their books and watch the bottom line. The size of a business, its complexity, the industry it operates in and its stage of development (i.e., whether it's a startup, an established business or somewhere in between) are all factors that will determine specific duties. For example, a growing technology company may need a financial expert to evaluate potential acquisitions, while a well-established insurance provider may need someone to identify potential new revenue streams.

3. New markets are emerging. An expanding global market is providing a slew of new analyst opportunities, some of which require financial expertise in the geographic regions where they're located. The rapid growth of markets in India, China and other international locales has resulted in an explosion of job opportunities in those countries that are enticing North American financial analysts to work overseas.

4. The economy is (still) recovering. Economic uncertainty in the past few years has resulted in a renewed focus by employers to recruit forward-thinking financial analysts who can help stimulate business growth. Financial analysts are also in demand in sectors such as technology, media and retail. Companies in these industries seek specialists who can identify opportunities to help increase their business in the years to come.

5. The population is aging. As experienced financial analyst professionals – namely baby boomers – reach retirement age in the next few years, their jobs will become available for a new generation of experts. Some positions will also become available as more experienced and senior financial analysts are promoted. As a result, this is a good time for new financial analyst candidates to break into the field.

Robert Half provides an overview of the current hiring environment and skills in demand in our annual Salary Guide. Download your free copy today to learn more about hiring trends and starting salary ranges for financial analyst roles at all experience levels.