3 answers
Parker
Student
Elk River, Minnesota
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How much overtime is expected for Financial Analysts?
Sophomore in high school.
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3 answers
Sagar Kalbag
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Sagar’s Answer
Hi Parker - financial analyst is a pretty broad category with many different types of positions whose compensation can vary significantly. I can only speak from my personal experience as a former financial analyst in investment banking. Investment bankers receive a fixed annual salary which means there is NO overtime pay - as is typical for most salaried positions which most, if not all, financial analyst roles will be (overtime typically applies to hourly workers). However, investment bankers often work 80-100 hours a week which is well beyond the 40hr 9am-5pm work week for most. Though they do not receive overtime pay, they are compensated for those hours through large performance bonuses (sometimes equal to their salary). In general, when you are looking at different careers it might be most helpful to focus on "all in" pay. This would include the sum of salary, performance bonus, overtime and other financial benefits as one total number. That way, you can more easily compare compensation in different careers regardless of what the pay structure is (e.g., salary + bonus or hourly + overtime).
Danny Siegel
Management Consultant
4
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Scarsdale, New York
Updated
Danny’s Answer
Hello Parker, throughout my career, I've had the privilege of collaborating with a multitude of financial analysts, possibly more than a hundred. These professionals were either part of an organization, helping to evaluate its financial performance, or they were external consultants hired to analyze various financial decisions such as mergers, acquisitions, significant investments, or alternative financing options. The workload can sometimes be quite intense.
Financial analysts are usually on a salary, so they don't clock in overtime like hourly workers. However, if you're wondering about exceeding the standard 40-hour week, it's quite common. Those in consulting roles or working for investment banks or other service companies often put in extra hours. It's not uncommon for individuals in the financial services sector to clock in over 50-60 hours a week. There may be exceptions, but this is generally the norm based on my experience.
However, it's essential to consider your personal preferences and lifestyle. You need to weigh the benefits of working hard and earning more versus having ample leisure time for friends, hobbies, travel, and so forth. For many, a healthy work-life balance holds more value than the perfect job or industry. Others might prioritize financial gain, which often requires more work. Remember, your career will evolve over time. Initially, you might work harder to gain experience, expertise, and build a network. As you progress, your knowledge becomes as valuable as your hard work, and you might find your working hours becoming more manageable.
In your journey to find the perfect career, if you happen to stumble upon one that offers excellent pay for minimal work, do share the secret! I'd be more than happy to switch places with you! :)
You might want to find a financial analyst to do a quick informational interview with to understand exactly what they do and what their typical week looks like to get a ground level view.
Financial analysts are usually on a salary, so they don't clock in overtime like hourly workers. However, if you're wondering about exceeding the standard 40-hour week, it's quite common. Those in consulting roles or working for investment banks or other service companies often put in extra hours. It's not uncommon for individuals in the financial services sector to clock in over 50-60 hours a week. There may be exceptions, but this is generally the norm based on my experience.
However, it's essential to consider your personal preferences and lifestyle. You need to weigh the benefits of working hard and earning more versus having ample leisure time for friends, hobbies, travel, and so forth. For many, a healthy work-life balance holds more value than the perfect job or industry. Others might prioritize financial gain, which often requires more work. Remember, your career will evolve over time. Initially, you might work harder to gain experience, expertise, and build a network. As you progress, your knowledge becomes as valuable as your hard work, and you might find your working hours becoming more manageable.
In your journey to find the perfect career, if you happen to stumble upon one that offers excellent pay for minimal work, do share the secret! I'd be more than happy to switch places with you! :)
Danny recommends the following next steps:
Chinyere Okafor
Educationist and Counseling Psychologist
616
Answers
Port Harcourt, Rivers, Nigeria
Updated
Chinyere’s Answer
Hello Parker,
As a sophomore in high school, it's great that you're already thinking about potential career paths like financial analysis. While the specific amount of overtime can vary greatly depending on the company, industry, and role, here's a general overview:
High-Pressure Environments: Industries like investment banking, hedge funds, and certain consulting firms often have demanding deadlines and high-pressure environments. This can lead to significant overtime, sometimes even exceeding 60 or 70 hours per week during busy periods.
Corporate Finance: Companies in various sectors may require financial analysts to work overtime during specific times of the year, such as quarter-end closings or project deadlines. However, the level of overtime is generally less intense compared to high-pressure environments.
Government and Non-Profit Organizations: These roles typically involve less overtime, with a more traditional 9-to-5 work schedule.
Important Considerations:
Overtime Compensation: While some companies may offer overtime pay, others may provide other forms of compensation like bonuses or increased time off.
Work-Life Balance: If work-life balance is important to you, it's essential to research companies and industries that align with your priorities.
Remember: The amount of overtime can fluctuate based on factors like economic conditions, company performance, and individual projects. It's a good idea to research specific companies and industries to get a better understanding of their overtime expectations.
Best wishes!
As a sophomore in high school, it's great that you're already thinking about potential career paths like financial analysis. While the specific amount of overtime can vary greatly depending on the company, industry, and role, here's a general overview:
High-Pressure Environments: Industries like investment banking, hedge funds, and certain consulting firms often have demanding deadlines and high-pressure environments. This can lead to significant overtime, sometimes even exceeding 60 or 70 hours per week during busy periods.
Corporate Finance: Companies in various sectors may require financial analysts to work overtime during specific times of the year, such as quarter-end closings or project deadlines. However, the level of overtime is generally less intense compared to high-pressure environments.
Government and Non-Profit Organizations: These roles typically involve less overtime, with a more traditional 9-to-5 work schedule.
Important Considerations:
Overtime Compensation: While some companies may offer overtime pay, others may provide other forms of compensation like bonuses or increased time off.
Work-Life Balance: If work-life balance is important to you, it's essential to research companies and industries that align with your priorities.
Remember: The amount of overtime can fluctuate based on factors like economic conditions, company performance, and individual projects. It's a good idea to research specific companies and industries to get a better understanding of their overtime expectations.
Best wishes!