A currency analyst performs basically the same jobs as a financial analyst. However, these individuals specialize in making predictions about the value of foreign currencies compared to the U.S. dollar.
To be a competitive candidate for a currency analyst position, you must first possess a bachelor's degree. Typically this degree should be in international markets, finance, statistics, business, accounting, economics or another relevant field. Other recommended areas of study include risk management, options pricing and bond valuation.
Currency analysts must be able to think analytically. Additionally, they must have thorough computer and problem-solving skills. These professionals need to be able to work well alone but also need to have strong communication skills and be confident making presentations to large groups. They must pay strong attention to detail, be interested in foreign economies and be research-driven.
Currency analysts often work with other financial officers to predict the prosperity of foreign markets and the value of foreign currencies compared to the dollar. This can help determine risk management for a company, potential investments or merely aid them in making business decisions that involve overseas production. Based on their research, currency analysts will typically make presentations about their findings and then make suggestions for action. Often they help lead these initiatives if the company or client takes their suggested plan of action.
Most currency analysts work in comfortable office settings. Typically they have access to information services and high-tech computer systems. At times they are required to travel to financial meetings to speak or simply attend. According to the U.S. Bureau of Labor, people holding this position often work long weeks of 50 to 60 hours.
According to Payscale.com, the average currency analyst brings in between $44,120 and $63,100 per year. This equates to an hourly income that ranges between $12.21 and $36.32 per hour. As with all salary information, however, these figures can vary based on geographic location, employer and years of experience.
2016 Salary Information for Financial Managers
Financial managers earned a median annual salary of $121,750 in 2016, according to the U.S. Bureau of Labor Statistics. On the low end, financial managers earned a 25th percentile salary of $87,530, meaning 75 percent earned more than this amount. The 75th percentile salary is $168,790, meaning 25 percent earn more. In 2016, 580,400 people were employed in the U.S. as financial managers.