Investment Specialist: Career and Salary Facts
Find out about the types of jobs you could pursue as an investment specialist. Read on to learn more about career options along with education requirements and salary information.
What Is an Investment Specialist?
As an investment specialist, you should possess the skills to counsel clients on financial decisions. You will likely have different responsibilities and duties depending on your specific role and whether you primarily work with companies or individuals. In any case, an investment specialist is expected to keep a close watch on the stock market in order to predict trends and provide good investment counseling. You will also need to familiarize yourself with your clients financial history and their long-term financial goals in order to best provide investment advice. The following table presents some basic information on a few possible careers for an investment specialist:
<table border="1"><tr><td> </td><td> <b>Financial Analyst</b> </td><td> <b>Financial Manager</b> </td><td> <b>Personal Financial Advisor</b></td></tr>
<tr><td> <b>Degree Required</b> </td><td> Bachelor's degree (minimum) </td><td> Bachelor's degree (minimum) </td><td> Bachelor's degree (minimum)</td></tr>
<tr><td> <b>Education Field of Study</b> </td><td> Accounting or finance </td><td> Accounting or finance </td><td> Accounting or finance</td></tr>
<tr><td><b>Licensure/Certification</b></td><td> Licensure required for some positions </td><td> Voluntary certification available </td><td> Licensure required for some positions</td></tr>
<tr><td> <b>Job Growth (2020-2030)</b> </td><td> 6%* </td><td> 17%* </td><td> 5%*</td></tr>
<tr><td> <b>Average Salary (2020)</b> </td><td> $96,630* </td><td> $151,510* </td><td> $122,490*</td></tr>
</table><p><i>Source: *U.S. Bureau of Labor Statistics</i>
</p><h3 id="section---WhatDoesAnInvestmentSpecialistDo">What Does an Investment Specialist Do?</h3><p>Investment specialists are also often referred to as investment fund managers, real estate appraisers, risk management specialists and sales agents. The U.S. Bureau of Labor Statistics (BLS) lists positions such as financial analysts, advisors and planners (<i>www.bls.gov</i>). You could also focus on a specific industry, product or customer goal, such as retirement planning.
</p><p>You could work in investment banks, securities or brokerage firms, often focusing on market trends to counsel clients and trade stocks. You could also be responsible for reviewing company statements. Developing and maintaining contacts and handling product and service calls are also important to the investment process. Additionally, you may work closely with high-level management and the finance department to streamline investment procedures. Responsible handling of cash and investment flows is essential, and you may need to develop expertise in alternative investment options.
</p><h3 id="section---WhatTypeOfEducationAndExperienceDoINeed">What Type of Education and Experience Do I Need?</h3><p>A master's degree in either accounting or finance, along with a minimum of five years experience may be preferred for some investment specialist positions, according to a December 2011 <i>Monster.com</i> search. A bachelor's degree, combined with 2-3 years of experience with financial concepts, statistical analysis and pricing, may be acceptable.
</p><p>The Investment Management Consultants Association offers the Certified Investment Management Analyst designation to experienced and qualified insurance specialists. A qualification exam and a certification exam are required, and candidates must pass background checks, sign licensing agreements and adhere to ethics standards.
</p><h3 id="section---WhatKindOfSalaryMightIEarn">What Kind of Salary Might I Earn?</h3><p>Earnings can vary widely in the investments field. According to the BLS, many in the financial industry, especially those in positions that involve selling investment products to customers, count bonuses and commissions as a significant portion of their income. The average annual salary for securities, commodities, and financial services sales agents was $96,540 in 2020, the BLS reported. The BLS also noted that recessions can decrease investment specialist earnings.
</p><h3 id="section---WhatAreSomeRelatedAlternativeCareers">What Are Some Related Alternative Careers?</h3><p>If you are interested in working in a financial position for a company, you may want to consider a career as a budget analyst. These professionals are in charge of helping organizations analyze their finances, create a budget, and then monitor that budget throughout the year to make sure the company is operating within it. Another job that deals heavily with finances is accounting and auditing. As an accountant, you will work with an individual's or company's financial data in order to help them file taxes and make financial decisions. Both these careers require individuals to have bachelor's degrees in a finance related field.</p>