what is a senior financial analyst?

This job title refers to a broad category of positions in the finance industry. A senior financial analyst is anyone who takes on a position of leadership in a financial company. You manage a team of coworkers and work together to perform financial tasks. Not only do you work with math, money, and numbers, but you also carry out traditional team leadership duties.

examples of senior financial analyst

This flexible position encompasses a variety of responsibilities and duties. Here are some examples of what a senior financial analyst does at different financial companies.

  • oversees a team of investors managing money for large hedge funds
  • manages a department of employees at a local bank branch
  • leads a group of brokers and underwriters at a mortgage company
  • helps accountants and bookkeepers manage the finances of a small business

are senior financial analyst managers?

A team lead is more hands-on than a managerial position. Your job focuses less on the company's big-picture goals. Instead, you prioritize the details. You do things like delegate work to coworkers, schedule tasks, and resolve disputes. Unlike a manager, you usually don't do things like hire employees or decide on business strategies.

Would working as a senior financial analyst suit your communication and mathematical skills? Then read on to find out what competencies and qualifications you need to thrive in a senior financial analyst role.

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average senior financial analyst salary

Your salary varies depending on the type of team leadership role you take on. If you have a more managerial role with a lot of authority, you could earn a six-figure salary. The Bureau of Labor Statistics (BLS) reports that financial managers make a median salary of  $139,790 per year. If your role is more similar to project management, you can still earn quite a lot. BLS data shows project managers make a median salary of $95,370 per year.

factors that impact salary

Depending on your job, you could make from $46,000 per year up to $164,000 annually. If you want a high-paying salary, it's important to choose your job wisely. According to the BLS, finance team leaders in insurance, technology, and science make higher-than-average salaries. You can also command a higher salary if you have more experience and take on more job responsibilities. Another effective way to earn more is by picking a job with longer hours.

Wondering what you can earn as a senior financial analyst? Find out immediately with the Randstad salary checker! You can quickly and easily see what the average salary of a senior financial analyst is.

Close up - Smiling male looking away.
Close up - Smiling male looking away.

types of senior financial analyst

Senior financial analyst often specialize in working for a specific industry within the financial world. Common fields for senior financial analyst include:

  • banking
  • corporate finance
  • portfolio management
  • insurance
  • asset management
  • retail banking
  • mortgage lending

Companies also categorize teamleads based on their level of responsibility. Some team leaders take on a more managerial role. Especially if you have a lot of experience, you might end up overseeing a very large department. Other teamleads work on a smaller scale and just oversee a few employees. In these cases, you'll often report to another manager or supervisor.


working as a senior financial analyst

If you're interested in being a team leader in the finance industry, it's helpful to know more details about the job. Keep reading to see what a senior financial analyst does and what to expect at this job.


senior financial analyst skills and education

Being a senior financial analyst usually requires a bachelor's degree in a related field. For many positions, this will mean a bachelor's in accounting or a bachelor's in business administration. However, some jobs accept unrelated bachelor's degrees.

The other key credential to becoming a team leader is experience. Almost no company will hire a team leader without knowledge of their industry. Usually, you need to work in a similar style of office setting for two to four years before you become a senior financial analyst. In many cases, team leaders are even promoted directly from the business itself. If your goal is to become a financial team lead, it can be helpful to start working at a business and request promotions over time.

There are some team leadership jobs available to those who don't have a four-year degree or years of experience. If you have worked in an industry for a very long time, years of expertise can outweigh your lack of a degree. You could also use certifications, such as a Project Management Professional, to compensate for lack of leadership experience.

skills and competencies

These skills and technical proficiencies help you succeed as a finance team leader:

  • leadership abilities: You need to be comfortable delegating to others and speaking from a position of authority.
  • technological skills: Modern finance team leads usually perform their work from computers. Knowledge of Microsoft Office, Excel, and Quickbooks is important.
  • technical skills: You'll need industry-specific knowledge such as an understanding of loans, tax preparation, or investing.
  • organizational abilities: To keep your team running smoothly, you need to be highly organized. In addition to time management, skills like attention to detail and data entry are very useful.
  • critical thinking skills: Your job requires you to be both logical and flexible. Good finance team leads can easily solve problems and analyze tasks to find the most efficient way of addressing the situation.
  • mathematical skills: Anyone in the finance industry needs to be good with numbers. Though you probably don't need to understand advanced calculus, you need to at least know standard algebra.
  • communication skills: Being able to explain concepts well is an essential skill for this job. Great finance team leads can speak professionally to clients and create a great rapport with their team.


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two men and a woman standing while having a conversation

FAQs about working as a senior financial analyst

Here you will find answers to the most frequently asked questions about senior financial analyst.

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