When most people hear the words finance industry, Wall Street certainly comes to mind. Sure, New York has at least four times the number of professionals working in the finance industry than places like Chicago, but because most other financial industries are smaller, other cities are seeing fewer lay-offs. So, if youre interested in a career in the finance industry, but you still want to reside in a big city, you might want to check out the smaller markets markets that have shown an unusual amount of resilience.

Here are the facts about jobs in Chicagos finance industry:

Finance job listings in Chicago offer salaries from $70,000-$130,000+, while the average salary in the city is $45,710 Finance jobs in Chicago have increased 13% over the last decade. So Chicago despite a 6.8% jump in unemployment, Chicago has added 46,400 finance jobs while New York lost nearly 8,000 Firms are now looking at Chicago as a base while New York firms are pulling out

The finance industry overall has a number of solid perks as well. These include bonuses, unlimited income potential, and job growth. According to CollegeDegreeReport.com, financial analysts will see a 33.8% increase in job growth over the next several years. Large financial institutions will experience a significant amount of growth, while mutual fund companies will experience a tremendous amount of growth.

So what does a financial analyst do? According to JIST Publications Best Jobs for the 21st Century, financial analysts conduct quantitative analyses of information affecting investment programs of public or private institutions. Financial analysts assemble spreadsheets, analyze financial information, and track trends in business, finance, industrial technology, and economic theory.

Financial analysts are also called investment analysts and securities analysts. In addition to financial institutions and mutual fund companies, financial analysts also work for insurance companies, pension funds, and securities firms. Around 30% of all financial analysts work part-time and roughly 7% are self-employed. The jury is still out as to why more males are attracted to this profession than females, but 62% of all financial analysts are male. More than 30% of all financial analysts hold a masters degree or higher.

So, if you think you have what it takes to become a financial analyst and youre ready to dive in, there are a few things to consider before taking the plunge. For starters, becoming a member of the nations finance industry is no small feat. Financial institutions only hire the best, so this means a bachelors degree or higher is required for entry into this field. A bachelors degree in finance, business, accounting, or statistics is desirable, but a masters in finance or business administration is even better.

Most financial institutions look favorably on individuals with a professional designation such as Chartered Financial Analyst (CFA). The CFA designation requires a bachelors degree (at the very minimum) plus 4 years experience in the industry. According to the Association of Investment Management and Research, CFA designation also requires a passing score on three essay tests.

While designations are not necessarily required for employment, many financial institutions will require a license. The Financial Industry Regulatory Authority (FINRA) administers licenses, but the employer sponsors them.

For more information about Chicago, IL financial analyst careers, please visit the following websites:

Financial Analyst Careers: Employment & Salary Trends for Aspiring Financial Analysts - College Degree Report

/index.html - Association of Investment Management and Research

Financial Analysts - Career, Salary & Employment Info - College Degree Report