Job Description & Career Requirements
Technical Analyst: Job Description & Career Requirements
Learn about the education and preparation needed to become a technical analyst. Get a quick view of the requirements as well as details about degree programs, job duties and licensure information to find out if this is the career for you.
Depending on state law, technical analysts may require certain licensure in order to practice. A solid understanding of statistics and finance is essential for success in this career, and holding a bachelor’s degree is also necessary.
An individual who enjoys working with numbers and statistical data may enjoy a career as a technical analyst. Technical analysts evaluate the constant fluctuations of the stock market and provide critical investment information to their clients. These professionals are often employed by finance and investment agencies, New York-based financial institutions and brokerage houses.
At the minimum, technical analysts need bachelor’s degrees in fields related to finance. Licensure for analysts may also be required, but this depends on the analyst’s duties and state law. Voluntary certification is available, and such credentials may help technical analysts find better job opportunities.
|Required Education||Bachelor’s degree or higher|
|Licensure and Certification||Licensure may be required, depending on state law; certification is
|Projected Job Growth (2014-2024)||12%*|
|Average Salary (2015)||$80,310*|
Source: *U.S. Bureau of Labor Statistics
Technical analysts observe patterns of the stock market to make predictions about its future performance. This systematic approach to financial forecasting takes into account statistics like stock price, trading volume, trade rates, securities, and interest rates. Analysts apply this information to statistical formulas to derive the best time and price at which to sell stocks. Along with evaluating stock market trends, analysts may gather, file, and present such data for use by their employers.
A bachelor’s degree in a business major, like economics or finance, is required for a career in technical analysis. Some firms may require employees to have a Master of Business Administration or master’s degrees in finance. Depending on the college or university, students may be able to choose from different concentrations, like corporate finance and investments. Finance-degree programs usually include courses in accounting, financial statement analysis, investment management, financial modeling, and statistics.
Technical analysts should possess both critical-thinking and analytical skills. Since they’re dealing with the public and presenting financial data and strategies, they need good communication skills. In addition to a strong background in math, technical analysts should have experience working with computer spreadsheets and computer software programs.
Licensure and Certification
Licensing may be mandatory for technical analysts, depending on their state, employer, and job duties. The Financial Industry Regulatory Authority (FINRA) oversees licensing for professionals who work in the securities industry. In such cases, analysts usually obtain licensure after gaining employment and becoming sponsored by a firm. Many technical analysts also earn certification. The CFA Institute offers the Certified Financial Analyst designation to candidates with bachelor’s degrees, four years of experience or a combination of experience and college coursework. Candidates must also pass a series of exams.
Career Outlook and Salary Information
The U.S. Bureau of Labor Statistics (BLS) reported that available job opportunities for financial analysts, including technical analysts, would grow by 12% between 2014 and 2024. A contributing factor to this growth is the increase in global investments, along with an increase in the number of investments managed by financial analysts. According to the BLS, the mean annual wage for financial analysts was $95,320 in May 2015.
If you’re considering a career as a technical analyst, it’s important to understand the skills needed to succeed in this field. A solid knowledge of math, computers, and statistics are just a few on-the-job requirements that a technical analyst should have. Understanding the education and training involved is a good first step in determining if this is the right career for you.
Source: Study dot (.) com
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