A banking analyst is a professional who specializes in tracking, analyzing, and predicting behaviors of various global financial markets and institutions. Individuals who work in this field are employed by firms that provide services such as financial consulting and investment management. Factors that can influence a banking analyst salary include an individual's level of education, his or her years of experience as an analyst, the firm for which he or she works, and the location of a firm.
Many firms that employ banking analysts tend to pay more to those employees whom they feel can be of greater value to the company. Students who have graduate degrees in business can often be more appealing to employers and therefore receive offers for a higher banking analyst salary. Professionals also believe that the reputation of an academic institution may influence a salary. A job candidate who comes highly recommended from a well-regarded university can expect to receive a higher banking analyst salary than a job candidate from a school that ranks in the second tier.
Experience is another important factor when it comes to a banking analyst salary. Professionals who have had years of experience in this field tend to receive higher salaries. Likewise, employees who perform well and prove themselves to be valuable members of an organization often find that their salaries increase periodically.
A banking analyst may occupy a number of different positions, each with a different salary. A second year analyst, for example, can expect to earn a salary that is higher than that of a first year analyst. The director of a firm can often expect to earn more than a vice president.
Some firms simply offer higher salaries than others. Factors such as budget, size, and client profiles can impact how much analysts can expect to make. While a banking analyst salary is normally perceived to be an important point of consideration by many seeking work in this field, a number of career experts believe that levels of experience offered by firms should also be taken into account since good experience can enable an analyst to earn more in the future.
The location of a firm can also impact the salary of a banking analyst. Professionals who work in urban areas where there is a high cost of living, for example, can often expect to earn more than those who work in environments where the cost of living is cheaper. In less developed areas with lower costs of living where the job market is less competitive, a banking analyst can often times find it easier to move up in a firm, allowing them to earn a higher salary in a relatively short period of time.