Reporting Analyst Salary and Career Facts

Explore the career requirements for reporting analysts. Get the facts about education requirements, licensure, job outlook and salary to determine if this is the right career for you. Schools offering Finance degrees can also be found in these popular choices.

What Does a Reporting Analyst Do?

As a reporting analyst, you advise companies in either financial or business solutions, which may lead to improvements in the way the company functions. You may recommend investments, evaluate financial data, prepare written reports and monitor current business trends in your capacity as a reporting analyst. A strong understanding of finances and business is required, along with good communication skills and an analytic mindset. As the world of business becomes more international, reporting analysts may be required to be increasingly familiar with global issues and trends within business and finance in order to offer a competitive service.

The table below outlines the general requirements for a career as a reporting analyst.

Education Required Bachelor's degree, master's degree for advancement
Education Field of Study Statistics, economics, business administration
Licensure Licensure or certification required by many employers
Job Growth (2014-2024) 7% (for all business and financial operations occupations*)
Median Salary $80,310 (financial analysts, 2015*), $58,925 (business analysts, 2017**)

Source: *U.S. Bureau of Labor Statistics, **PayScale.com

What Kind of Reporting Analyst Can I Become?

As a general reporting analyst, you'd be responsible for examining information given to you by a business and deciding the best course of action to take to help that business. The type of information you want to examine will guide which career field you choose.

This career offers a ton of options and can be broken down into two main fields: financial analysts and business analysts. From those two categories, even more opportunities are available:

  • Financial analyst
    • Risk analyst
    • Portfolio manager
    • Fund manager
    • Financial adviser
  • Business analyst
    • Systems analyst
    • Process analyst
    • Operations analyst
    • Information technology (IT) analyst

As a financial analyst, your career options may include being a buy-side analyst or a sell-side analyst. Buy-side analysts work with companies that are concerned with finding the best way to invest money, such as nonprofit organizations with endowments. Sell-side analysts work with companies interested in finding the best way to sell their financial securities, such as banks.

As a business analyst, your career focuses on handling management, human resource and communication issues within a business. Your job may include investigating business methods used and making improvements to fix them. You may help a business to become more organized or assist with making policy changes. Overall, you help a business to run more smoothly.

How Can I Become a Reporting Analyst?

Most employers will require you to have at least a bachelor's degree in statistics, economics or business administration. To compete for higher paying jobs, you may need a master's degree in finance or business administration.

You may also need to be licensed by the Financial Industry Regulatory Authority (FINRA) or a similar organization. The type of license depends on the specific company you'd be working for. Usually, your employer would sponsor your licensure, so you aren't expected to already have it before you're hired.

For financial analysts, additional certifications like the Charted Financial Analyst (CFA) certification can increase your competitiveness. The certifications required may differ for each company and usually you need to be certified before you apply for a job.

How Much Money Can I Earn in This Career?

In general, a financial analyst will make more than a business analyst. The U.S. Bureau of Labor Statistics (BLS) reported the median annual salary of a financial analyst is $80,310, with the top earners at the 90th percentile earning $160,760, as of May 2015 (www.bls.gov). In January 2017, PayScale.com reported business analysts earning a median annual salary of $58,925, though this varies by experience. Entry-level analysts with little experience were reported to earn a median salary of $56,709, while those with two decades or more experience in the field were reported as earning around $70,000.

What Are Some Related Alternative Careers?

There are a number of other careers that require the same skills as those of a reporting analyst. One such career is a personal financial advisor. These professionals give one-on-one advice to individuals in order to help them retire, plan for savings, purchase a house, pay taxes or other financial issues. Another similar option is to work as an insurance underwriter, making assessments on claims and setting the terms of insurance policies for clients as provided by companies. Both of these career paths are well-suited to those with strong mathematical and business skills who are in possession of a bachelor's degree.

To continue researching, browse degree options below for course curriculum, prerequisites and financial aid information. Or, learn more about the subject by reading the related articles below:

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