A portfolio analyst undertakes the responsibility of studying the market and advising their clients and respective companies about the ongoing trends. This financial position is flexible when it comes to specific responsibilities, and it depends on the needs of the employer or company. Analytical skills are an important factor in this field. Let us know more detail about ‘Salaries For Portfolio Analyst’.
Salaries For Portfolio Analyst
An entry level salary for a portfolio analyst can average up to $55,957 per year. They can make as low as $22,000 annually and as high as $110,000 per year depending on their skill level and location as well. The amount will vary depending on a person’s experience as well along with education level (a bachelor’s degree is the minimum requirement).
The National Median Salary for Portfolio Analysts
The specifications of determining the national median salary for portfolio analysts bottles down to two important factors. Experience and location play an important hand in that. A beginner will probably earn far less than an experienced individual in the field.
An experienced portfolio analyst can earn up to $75 an hour on an average scale. The lowest noted salary in the field for beginners is around $47,890. Experienced positions have an opening to earn up to $159,000 per year as well. The job specifications for various portfolio analysts differ on the employer’s needs, and thus the pay scale varies accordingly.
Portfolio analysts with graduate degrees have a bigger chance of starting a beginner position with a high-end salary. They have a window to earn up to $60 per hour with an average of $125,000 per year.
Portfolio Analyst Beginner Salaries Based On Different Cities
It’s essential to have knowledge regarding which cities offer higher-than-average pay for portfolio analysts who don’t have any experience on their hands. The highest hourly wage for a portfolio analyst is in Atkinson, New Hampshire, with beginners making as much as $34 per hour. This hourly wage offers them a weekly pay of more than $1,380 and an annual salary of $72,000.
The town of Frankston, Texas, follows closely with an hourly pay of $33.41 with an average monthly wage of $5,800. This hourly pay offers entry level portfolio analysts an annual salary of $69,000.
In Massachusetts, the town of Barnstable falls third in the list of the highest starting salaries for portfolio analysts. Beginners have the potential to earn $32 hourly with an annual salary of $68,000. There isn’t a significant difference in the top three cities with the highest wages for portfolio analysts.
Atkinson stays on top of the list with their average salary being almost 28% higher than the national average for entry level portfolio analysts.
Experienced Portfolio Analyst Salaries Based On Different Cities
After going through the various cities that offer a good starting step for entry level portfolio analysts, it’s important to see where experienced workers make the most in this field. An experienced portfolio analyst usually carries a high-level degree or an array of experience under their belt.
One of the cities where an average portfolio analyst makes more than the national average salary in Atlanta, Georgia. The base salary for portfolio analysts is around $92,000 with additional bonuses it comes to around $94,600 annually which is 4 percent more than U.S national average.
Portfolio analysts in Dallas, Texas, make $101,240 on an average basis which is more than 10% of the national average. The two cities where they make the highest amount of money are Washington DC and San Francisco, California.
San Francisco-based portfolio analysts make a whopping 49% more than the national average with their annual salary rounding up to more than $136,500. Washington follows close with a 30% increase from the U.S average with their portfolio analysts making around $119,000 per year.
Jobs Similar to Portfolio Analysts
A portfolio analyst has different types of skills which can be utilized in different types of jobs similar to their field. One of the most popular positions that often pay more than an average opening portfolio analyst salary is that of ‘Portfolio Director’. They have the potential to earn an hourly wage of $59.81 with a yearly salary of almost $123,795.
Another popular position that portfolio analysts often transition into is that of ‘IT Portfolio Manager’. They have one of the highest starting hourly wages at $65 with a monthly wage of more than $11,000 and an annual salary of $135,200. Another job related to this position is that of ‘Vice President Portfolio Manager’ which has a similar salary scope.
Other popular fields that entry level portfolio analysts often transition to up the scale of their salaries are that of Portfolio Architect and Director of Project Portfolio Management.
Boosting Your Salary as a Portfolio Analyst
Statistics reveal that a little more than 50% of the employed portfolio analysts carry a minimum bachelor’s degree. The others carry additional certifications such as business school qualifications or graduate degrees or other projects which could’ve boosted their resume.
Aspiring portfolio analysts don’t need to carry a degree higher than a bachelor’s but it’s often encouraged. People who hold a higher education degree often earn double that of those without a Graduate degree. They climb the ladder to a promotion much more quickly than the ones that hold a bachelor’s without any prior experience.
As it’s important to have intensive analytical thinking along with impressive quantitative skills to analyze trends in the market, aspiring portfolio analysts need to carry a degree in finance, economics, or anything related to that.
Conclusion
A portfolio analyst is a flexible position whose salary often varies depending on what their employer seeks from them. They mostly focus on assisting the company with investment decisions and comprehensive portfolio construction. Their salary depends on their experience, education level, and geographical location.
Some of the other names used for portfolio analysts include research analyst, investment analyst, equity analyst, and many more. This title could also vary depending on the various aspects of the employer’s investment group or organization. The average national salary for a portfolio analyst as of 2022 is $55, 957 annually.
