The following article discusses the career path of Technical Analyst. Learn about how to become one, education requirements, job duties, traits and qualities, national salary outlook as well as top national employers of Technical Analysts.<!- mfunc feat_school ->
Technical analysts look at the earnings, products, dividends, and research of the organization they work for. They are responsible for making sure continuity of service and they do this by providing the project coordination, leadership, and planning required to optimize old products and services and implement new ones. Additionally, they must be have advanced technological knowledge to resolve other issues.
It is common for a technical analyst to use different computer programs and software suites, including chart-producing software, so that they can stay abreast of changing patterns. They must also work together with product management and provide demos for them. Often, they have to create and review monthly financial reports, analyzing balance sheet trends, and they must complete variance analyses. Additionally, they are responsible for the creation and presentation of economic and financial models for managers, lenders, investors, and the board of directors.
Other job duties of include:
- Documenting, tracking, and resolving the reasons behind any technical problem
- Writing and reporting on th technical requirements for ongoing and new projects
- Creating and implementing new operational reports on technical difficulties, summarizing those for relevant stakeholders.
- Reviewing the existing platforms and infrastructure to determine whether the available resources and tools are fit for purpose.
- Maintaining and updating training materials, hardware, and software.
Where We Work
According to the U.S. Bureau of Labor Statistics, there were 600,500 computer systems analysts in 2016, a profession closely related to that of a technical analyst. The largest employers of these professionals were:
- Computer systems design and related services: 28%
- Finance and insurance: 13%
- Management of companies and enterprises: 9%
- Information: 8%
- Government: 6%
How to Become
Usually, a technical analyst will hold a bachelor’s degree in finance, accounting, or computer science. Experience is usually preferred, although some entry level positions do also exist. Technical analysts must be able to demonstrate that they can solve complex problems and that they are proficient in the usage of Microsoft Office packages.
Usually, a technical analyst will have a bachelor’s degree in a field related to computers. However, because their role involves business as well, some have completed a business major instead, with courses in computer-related topics.
It is becoming increasingly common for a technical analyst to hold a master’s degree. The master in business administration (MBA) with a computer information systems concentration is particularly popular. This effectively combines the two most important elements of a technical analyst’s job: the technical side and the business side.
A technical analyst must also be committed to lifelong learning. Technology changes regularly, and they must remain up to date with innovation. This can be so rapid that continuous study is required. In order for someone to remain competitive, they must be committed to this. At the same time, however, they must have an in-depth understanding of their particular business field as well. For instance, someone who works in hospitals must have an understanding of Medicaid and Medicare as well as health information.
Traits & Qualities
The most effective have the following traits to some degree or other:
- Strong analytical skills
- Excellent communication skills, both verbal and written
- Highly creative with ability to think outside the box
- Strong interpersonal skills
- Proficiency in monitoring competitors’ actions, tracking results, and completing industry analyses
- Ability to train others on the importance of data
The national average salary estimate for Technical Analyst was $76,186. This number is estimated from over 651,324 employees, users past and present job advertisements from Indeed.com. This equates to an hourly salary of $39.68 and monthly of $6,349.
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Salary by State
The following section lists Technical Analyst salaries in each state around the country. The figures are based on the total number of job postings through Indeed.com. For example, New York had the largest quoted salary of $92,800 while Indiana had the smallest quoted salary of $57,454.
Top 20 National Employers
According to Indeed.com, the following states had employers looking to hire a Technical Analyst. The quoted salary figure represents the average salary from all job postings by this employer.
|Employer Name||Location||Average Salary|
|Princeton Consulting||New York||$167,600|
|Selby Jennings||New York||$162,021|
|GATE Staffing, LLC||New York||$148,684|
|iKas International||New York||$136,571|
|Mason Frank International||New York||$127,475|
|Robert Walters US||New York||$124,110|
|Technical Connections, Inc||California||$122,003|
|Booz Allen Hamilton||Maryland||$120,878|
|Mason Frank||New York||$120,285|
|ad tech||New York||$113,842|
|Cornerstone Financial Recruiting, LLC||Illinois||$111,954|
|NITYO INFOTECH||New York||$111,438|
|Tri-S Recruiters, Inc.||Illinois||$111,234|
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|Career Name||Average Salary|
|Real Estate Manager||$76,119|
|Business Development Manager||$75,226|
|Information Technology Specialist||$73,668|