How to become a financial analyst

1. 1Take math, statistics and economics in high school

   Time: 4 years (high school)Sources 1

   Algebra, precalculus or calculus, statistics and economics are the core. Get comfortable with spreadsheets early: building a simple budget or tracking a mock stock portfolio in Excel is real practice for analyst work. Writing classes matter too, because analysts spend much of their time explaining numbers in memos and slides. Business clubs and investment competitions give you something concrete to talk about in college internship interviews.

2. 2Earn a bachelor's degree in finance or a related field

   Time: 4 yearsCost: about $10,515/yr in-state public tuition (Scorecard median)Sources 1, 3

   Finance is the most direct major, and College Scorecard lists 800 bachelor's programs. Accounting, economics, mathematics and statistics also lead into analyst jobs. Take corporate finance, financial statement analysis, investments, accounting and econometrics, and learn Excel modeling well. Join the student investment club or managed fund if your school has one. Employers screen on GPA, internships and technical interview answers, so start building all three early.

3. 3Complete one or two finance internships

   Time: Summers of junior and senior yearSources 1

   Investment banks, asset managers and large corporations fill much of their entry-level analyst class from summer interns, often recruiting a year or more in advance. Banks, credit unions, insurance companies and state agencies run smaller programs that are easier to enter. An internship teaches you how models and reports are used in practice and often ends in a full-time offer. Treat it as a long interview.

4. 4Pass the SIE if you are aiming for a brokerage or bank

   Time: 1 to 2 months of studyCost: $100Sources 4

   FINRA's Securities Industry Essentials exam is open to anyone 18 or older without a sponsoring firm. It has 75 multiple-choice questions, takes 1 hour and 45 minutes, needs a score of 70 to pass, and stays valid for four years. Passing it before graduation shows broker-dealer employers that you already have the basics and speeds up registration after you are hired.

5. 5Start as a junior analyst and get registered if your role needs it

   Time: First 1 to 3 yearsCost: Usually paid by employerSources 5

   Entry titles include analyst, credit analyst, FP&A analyst and equity research associate. Research analysts at FINRA member firms who publish reports on stocks or sectors must pass the Series 86 ($295) and Series 87 ($195) on top of the SIE, with the firm sponsoring them. Corporate finance, bank credit and government roles generally need no FINRA registration. Expect your first year to be mostly building models and updating reports for senior analysts.

6. 6Pursue the CFA charter or an MBA to move up

   Time: 3 to 4 years (CFA) or about 2 years (MBA)Cost: $3,520-$4,570 in CFA exam feesSources 5, 6

   The CFA Program has three levels, each with one exam and about 300 hours of recommended study. To use the charter you also need at least 4,000 hours of relevant work experience completed over no fewer than 36 months. Passing Levels I and II exempts you from FINRA's Series 86. An MBA is the other common route into portfolio management, investment banking and senior corporate finance roles.

Programs, tuition and graduates’ earnings

U.S. Department of Education, College Scorecard (most recent cohorts, released 2026-10-15). Scorecard groups programs by 4-digit field, so a row can include related programs. Tuition is the median published undergraduate tuition and fees of the colleges offering the program (shown only for undergraduate credentials); debt is the median of programs’ median federal loan debt at completion; earnings are the national median for the field and credential four years after completion.

Requirements differ by state. Check your state’s rules in the CareerOneStop License Finder (U.S. Department of Labor) before you enroll.

Financial modeling in Excel

Nearly every recommendation rests on a model of revenue, costs and cash flow that the analyst builds and keeps updated.

Accounting knowledge

Reading income statements, balance sheets and footnotes is how analysts spot aggressive revenue recognition or hidden debt.

Clear writing

A research note or budget memo has to make the case in a page or two for a manager who will not open the model.

Skepticism

Analysts have to question management guidance and their own assumptions before money is committed.

Data tools

SQL, Python or financial terminals help analysts pull and test large data sets faster than copying figures by hand.

Training cost

$42.1K–$46.7K

Before financial aid

Time

4 to 8 years

Typical path

Median pay

$102,740

All US jobs: $50,980

Payback once qualified

Under 1 year

Pay above the all-jobs median vs. cost

Low: 4 years x the College Scorecard median in-state tuition at public finance bachelor's programs ($10,515/yr) = $42,060. High adds the SIE exam ($100) and the upper end of CFA Program exam fees for all three levels ($4,570). FINRA exams for jobs at member firms are usually paid by the employer. Housing, private tuition and an optional MBA are extra.

Rough guide only: ignores taxes, aid, interest and earnings given up during training. How we calculate it.

• Portfolio or fund manager

  Experienced investment analysts move up to choosing the holdings of a fund; a CFA charter or MBA is common at this level.

• Financial advisor$105,070 median

  Analysts who want client work can move into advising individuals after the required FINRA exams and state registration.

• Accountant$83,680 median

  Finance graduates with enough accounting credits can sit for the CPA exam and move into controller-track roles.

• Data scientist$120,230 median

  Quantitative analysts who build strong Python, statistics and machine learning skills move into data science roles, often after a master's degree.

• Loan officer$76,690 median

  Credit analysts at banks often step into commercial lending roles that combine underwriting with client relationships.