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Career and Education Opportunities for Financial Analysts in Cedar Rapids, Iowa

Cedar Rapids, Iowa provides a wide variety of opportunities, both career and educational, for financial analysts. Currently, 1,990 people work as financial analysts in Iowa. This is expected to grow by 24% to about 2,470 people by 2016. This is better than the nation as a whole, where employment opportunities for financial analysts are expected to grow by about 19.8%. Financial analysts generally conduct quantitative analyses of information affecting investment programs of public or private institutions.

The income of a financial analyst is about $27 per hour or $58,080 per year on average in Iowa. In the U.S. as a whole, their income is about $35 hourly or $73,150 per year on average. Financial analysts earn more than people working in the category of Accounting and Auditing generally in Iowa and more than people in the Accounting and Auditing category nationally. People working as financial analysts can fill a number of jobs, such as: securities analyst, investments manager, and investment analyst.

The Cedar Rapids area is home to thirteen schools of higher education, including two within twenty-five miles of Cedar Rapids where you can get a degree as a financial analyst. Given that the most common education level for financial analysts is a Bachelor's degree, it will take about four years to learn to be a financial analyst if you already have a high school diploma.

CAREER DESCRIPTION: Financial Analyst

Financial Analyst video from the State of New Jersey Dept. of Labor and Workforce Development

In general, financial analysts conduct quantitative analyses of information affecting investment programs of public or private institutions.

Every day, financial analysts are expected to be able to think through problems and come up with general rules. They need to read and understand documents and reports. It is also important that they articulate ideas and problems.

It is important for financial analysts to maintain knowledge and stay abreast of developments in the fields of industrial technology and economic theory. They are often called upon to interpret data affecting investment programs, such as price, yield, stability, future trends in investment risks, and economic influences. They also analyze financial data to produce forecasts of business and economic conditions for use in making investment decisions. They are sometimes expected to monitor fundamental economic and corporate developments through the analysis of data obtained from financial publications and services, investment banking firms and personal interviews. Somewhat less frequently, financial analysts are also expected to present oral and written reports on general economic trends and entire industries.

They also have to be able to decide on the prices at which securities should be syndicated and offered to the public and evaluate and compare the relative quality of various securities in a given industry. And finally, they sometimes have to maintain knowledge and stay abreast of developments in the fields of industrial technology and economic theory.

Like many other jobs, financial analysts must be thorough and dependable and be able to deal with stress and deal with situations calmly.

Similar jobs with educational opportunities in Cedar Rapids include:

  • Accountant. Analyze financial information and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
  • Auditor. Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
  • Budget Analyst. Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports for the purpose of maintaining expenditure controls.
  • Credit Analyst. Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with this credit information for use in decision-making.
  • Financial Examiner. Enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify correctness of, or establish authenticity of records.
  • Insurance Underwriter. Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
  • Loan Officer. Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and methods of payments. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
  • Personal Financial Planner. Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate. Duties include assessing clients' assets, liabilities, and financial objectives to establish investment strategies.
  • Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

EDUCATIONAL OPPORTUNITIES: Financial Analyst Training

Kirkwood Community College - Cedar Rapids, IA

Kirkwood Community College, 6301 Kirkwood Blvd SW, Cedar Rapids, IA 52406-2068. Kirkwood Community College is a large college located in Cedar Rapids, Iowa. It is a public school with primarily 2-year programs and has 15,241 students. Kirkwood Community College has an associate's degree program in Finance which graduated nine students in 2008.

University of Iowa - Iowa City, IA

University of Iowa, 101 Jessup Hall, Iowa City, IA 52242-1316. University of Iowa is a large university located in Iowa City, Iowa. It is a public school with primarily 4-year or above programs. It has 29,475 students and an admission rate of 82%. University of Iowa has bachelor's degree, master's degree, and doctor's degree programs in Finance which graduated forty-four, zero, and zero students respectively in 2008.

CERTIFICATIONS

Certified Pension Consultant: The Certified Pension Consultant (CPC) credential is designed for benefits professionals working in plan administration, pension actuarial administration, insurance, and financial planning.

For more information, see the American Society of Pension Professionals and Actuaries website.

Certified Anti-Money Laundering Specialist: CAMS certification is rrecognized by employers in both private industry and government.

For more information, see the Association of Certified Anti-Money Laundering Specialists website.

Fiscal Services - Accelerated Package: Fiscal Services - Accelerated Package course list: Better Requests for Proposals for Better Projects; Continuous Improvement Through Monitoring; Contracting; New Coding System for the 21st Century; Procurement; and Writing Winning Grant Proposals.

For more information, see the Dynamic Works Institute website.

Certified IRA Services Professional: Applicable to financial services professionals who have dedicated IRA operational and technical experience.

For more information, see the Institute of Certified Bankers website.

Certified Personal Banker: Applicable to financial services professionals who have completed the AIB Personal Banking Diploma and who function as personal bankers.

For more information, see the Institute of Certified Bankers website.

Certified Funds Specialist: The CFS 60-hour program provides the practitioner with everything needed to select the right fund for any given situation.

For more information, see the Institute of Certified Fund Specialists website.

Certified Annuity Specialist: The CAS program is a 60-hour self-study program.

For more information, see the Institute of Certified Fund Specialists website.

Registered Financial Associate: The Registered Financial Associate (RFA) is a designation granted only to recent graduates of an approved academic curriculum in financial services.

For more information, see the International Association of Registered Financial Consultants website.

Chartered Market Technician: The Chartered Market Technician (CMT) designation is the culmination of a certification process in which candidates are required to demonstrate proficiency in a broad range of technical analysis of the financial markets.

For more information, see the Market Technicians Association website.

Certified Retirement Specialist: If you are a professional with an interest in issues and opportunities in the 403(b) marketplace, advance your career by obtaining the Certified Retirement Specialist (CRS) designation.

For more information, see the NTSAA (National Tax Sheltered Accounts Association) Educational Institute website.

Certified Financial Forensic Analyst: The Certified Forensic Financial Analyst (CFFA) credential is designed to provide assurance to the legal community-the primary users of litigation support services-the designee possesses a level of experience and knowledge deemed acceptable by the Association to provide competent and professional forensic financial support services.

For more information, see the The National Association of Certified Valuation Analysts website.

Economic Development Finance Professional: In NDC's EDFP Certification Program you will build the capacity to translate development opportunities into results for their communities.

For more information, see the The National Development Council website.

LOCATION INFORMATION: Cedar Rapids, Iowa

Cedar Rapids, Iowa
Cedar Rapids, Iowa photo by Davumaya

Cedar Rapids is located in Linn County, Iowa. It has a population of over 128,056, which has grown by 6.0% over the last ten years. The cost of living index in Cedar Rapids, 78, is well below the national average. New single-family homes in Cedar Rapids are valued at $103,900 on average, which is far less than the state average. In 2008, two hundred ninety-nine new homes were built in Cedar Rapids, up from two hundred ninety-eight the previous year.

The three big industries for women in Cedar Rapids are health care, educational services, and finance and insurance. For men, it is construction, professional, scientific, and technical services, and accommodation and food services. The average commute to work is about 17 minutes. More than 28.4% of Cedar Rapids residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 7.4%, is lower than the state average.

The unemployment rate in Cedar Rapids is 6.0%, which is less than Iowa's average of 6.1%.

The percentage of Cedar Rapids residents that are affiliated with a religious congregation, 57.0%, is more than the national average but less than the state average. Seventh Day Church of God, Sevanth-Day Adventist Church and Hope Lutheran Church are some of the churches located in Cedar Rapids. The largest religious groups are the Catholic Church, the United Methodist Church and the Evangelical Lutheran Church in America.

Cedar Rapids is home to the Brucemore and the Admissions Office as well as Tomahawk Park and Noelridge Park. Shopping centers in the area include Mays Shopping Center, Lindale Plaza Shopping Center and Town and Country Shopping Center. Visitors to Cedar Rapids can choose from Howard Johnson, Marriott Cedar Rapids and Clarion Hotel & Convention Center for temporary stays in the area.