Investment Analyst
Investment analysts research shares, bonds and funds to work out what they are worth, then build the case that guides where a fund or a client's money goes.
- Median salary*
- $111,800
3.7%vs last year, before tax
- People employed
- 3,200
0.0%vs last year
- Projected growth*
- +3.2%
to 2035
- AI exposure*
- Moderate
- automation risk
- Average hours*
- 42/wk
+2h vs all jobs
- Shortage status*
- Not in shortage
national
Investment analysts spend most of their week working through company accounts, market data and economic trends to form a view on where an asset's price is heading. Most work inside asset managers, banks, super funds and investment platforms, reporting to a portfolio manager or investment committee that makes the final call on what to buy or sell. The role sits closer to research than to trading: an analyst builds the case, while a fund manager or stockbroker acts on it.
How much do investment analysts earn?
The median full-time salary for an investment analyst is $111,800 per annum, before tax, up $23,100 since 2018.
Investment analysts are usually paid an annual package rather than hourly rates, and the bonus is a real part of total pay, tied to how the analyst's calls perform and how the fund has done. Pay varies with the type and size of employer, with large funds, investment banks and boutique managers typically at the higher end. A CFA charter, a sector specialisation with a published track record, or a move into portfolio management is what shifts an analyst into the higher bands.
What does an investment analyst do day to day?
The list below is what fills most weeks; the exact mix shifts with seniority and whatever stage the current work is at.
- Analysing financial statements and economic data to assess company valuation and sector trends
- Building financial models in Excel, Python or R to forecast earnings, cash flow and share price targets
- Writing research reports and investment theses for fund managers and advisory clients
- Monitoring portfolio holdings and market conditions, especially through earnings season, to flag rebalancing opportunities
- Presenting investment ideas to senior analysts and investment committees, and defending them under questioning
What skills do investment analysts need?
Employers look for financial analysis and modelling, financial reporting, data analysis, backed by Bloomberg Terminal fluency and strong presenting and data storytelling.
Specialist skills
- Financial analysis and modelling
- Financial reporting
- Data analysis
- Investment and financial advice
- Risk and internal controls
- Economic modelling
Software and tools
- Bloomberg Terminal
- FactSet
- Excel and VBA
- Python or R
- Refinitiv Eikon
General skills
- Presenting and data storytelling
Is the job growing?
About 3,200 people work as investment analysts in Australia, and employment is projected to grow 3.2% over the decade to 2035. That's modest growth: demand is steady rather than booming.
How do you become an investment analyst?
Here's the path most investment analysts take, step by step.
- 1Complete a bachelor degree
Finance, commerce, economics, accounting or a quantitative field such as mathematics or data science all lead in, and the degree takes three years full time. Most people working as investment analysts hold a bachelor degree (52%), and the accounting and modelling units are the ones employers ask about at interview.
- 2Get into a graduate or analyst program
Banks, fund managers, super funds and brokers run structured intakes, usually paid, where you rotate through research desks and learn the firm's screening and compliance process. Starting in a financial analyst or credit analyst role and moving across later is a common alternative.
- 3Add postgraduate study or the CFA charter
A master's in finance or the CFA Program, three exam levels plus three years of relevant work experience for the charter, is the usual way to signal a serious commitment to research, and employers often fund part of it. 26% of people in the role hold a postgraduate qualification.
- 4Specialise in a sector and build a track record
Analysts normally cover one sector, such as resources, banks or healthcare, and are judged on their published calls. Research roles do not need an individual licence, but advising retail clients does: your employer would need an Australian financial services licence and you would be registered with ASIC as a relevant provider.
Ready to apply as an investment analyst?
Whether you're working toward becoming an investment analyst or already are one and want a hand with the next step (sharpening your resume for ATS screening, tightening your cover letter, or knowing what you'll actually be asked at interview), here are examples grounded in this specific role, not generic templates.
What jobs can an investment analyst move to?
Moving into Fund Manager typically comes with the biggest pay rise, worth $36,400 a year more on average.
| Move to | Typical pay change | Overlap | Retraining |
|---|---|---|---|
| Fund Manager Investment analysts bring valuation models and market research to portfolio decisions, stepping up to manage funds with a short course. | +$36,400 | 58% | short course |
| Private Equity Associate Investment analysts bring valuation and due diligence skills to private equity deals, reskilling for portfolio and transaction work. | +$36,400 | 39% | reskill |
| Stockbroker Investment analysts bring company research and market views to client trading advice, moving into broking with a short course. | +$26,100 | 52% | short course |
| Investment Banker Investment analysts bring financial modelling and deal analysis to corporate advisory, stepping into investment banking with a short course. | +$22,500 | 48% | short course |
| Commodity Trader Investment analysts bring market analysis and pricing skills to commodity trading desks, adding a short course for specialised markets. | +$22,200 | 52% | short course |
Moves are chosen from Jobs and Skills Australia's Data on Occupation Mobility, which follows income tax records between 2011-12 and 2020-21, together with entry requirements and skill overlap. A known move is one people were seen making in that data. Pay change compares median full-time pay for the two roles.
Who works as an investment analyst?
The typical investment analyst is 32 years old; 68% are men, 91% work full-time, and full-timers average 42 hours a week.
- 32
- Median age
- 32%
- Female share
- 91%
- Full-time
- +2h
- vs all-jobs avg
What's it like being an investment analyst?
The week runs to the market's clock: early mornings before the open, research and meetings through the day, and model updates in the evening when results land. It suits people who like forming a view from evidence and being held to it, and who stay steady when a call goes the wrong way. Most of the work is quiet and detailed, with short stretches of real pressure around reporting season.
What people like
- The market grades your work quickly. A recommendation is tested by the share price within weeks, so you learn fairly fast whether the analysis held up rather than waiting years to see an outcome.
- You get to know a sector properly. Most analysts cover the same handful of companies and their competitors for years, which means understanding how management teams behave and how the industry actually makes money.
- Early contact with senior decision-makers. You present your ideas to portfolio managers and investment committees from early in your career, which builds the argument and presentation skills later moves depend on.
What people find hard
- Earnings season compresses the calendar. Results for the companies you cover land within a few weeks of each other, so early starts and rebuilt models stack up in the same short window.
- Being wrong is visible. When a call misses, the price moves before you can revise the note, and you have to explain the miss to people who acted on it.
- Plenty of the work is grind. Updating spreadsheets, reconciling figures and chasing data take up more of the week than the judgement calls do.
- Theses break on things you cannot model. A takeover, a regulatory decision or a change of chief executive can undermine months of analysis in a single day.
Based on our synthesis of professional-body surveys and public accounts of the role, not first-person verified reviews.
Which industries employ investment analysts?
Financial and Insurance Services employs the largest share of investment analysts, followed by Professional, Scientific and Technical Services.
Top employing industries
- 1Financial and Insurance Services
- 2Professional, Scientific and Technical Services
- 3Electricity, Gas, Water and Waste Services
- 4Public Administration and Safety
- 5Rental, Hiring and Real Estate Services
Ranked by employment share; the source doesn't publish an exact percentage per industry.
| Bachelor degree | 52% | |
|---|---|---|
| Postgraduate | 26% | |
| Diploma / Advanced Diploma | 13% | |
| Other | 9% |
Will AI replace investment analysts?
Investment analysis sits in the middle for AI exposure: the research and data side of the job has already changed, while the judgement behind a call has not. Screening tools, market data platforms and language models now do the gathering and the first pass, so an analyst spends less time assembling information and more time on the assumptions inside a valuation. The work that stays with a person is understanding a business, questioning its management and defending a price target to a portfolio manager.
Share of typical working time by exposure level
- Building and updating valuation modelsQuarterly results drop into a template and refresh the outputs automatically, but the margin, growth and discount rate assumptions are still yours to set and defend.30%moderate
- Reading results, filings and broker researchA long annual report or a sector note can be summarised in minutes, so the job becomes checking the key figures against the primary statement rather than reading cover to cover.30%high
- Meeting management and site visitsA tour of a processing plant or a conversation with a chief financial officer turns up the detail that never appears in the accounts, and reading a room is not something the tools do.25%low
- Writing research notes and recommendationsDrafts come together faster with AI assistance, but the recommendation, the price target and the reasoning a portfolio manager will challenge are the analyst's own.15%moderate
Common questions about becoming an investment analyst
Straight answers to the questions people ask most.
How much do investment analysts earn?
Investment analysts earn a median of $111,800 per year before tax, and bonuses are a meaningful part of total pay on top of that. Pay moves with the type of employer and with your track record, so a strong published call record or a CFA charter is worth more than another year of routine coverage.
How do you become an investment analyst?
Most people start with a bachelor degree in finance, commerce, economics or a quantitative field, then join a graduate or analyst program at a bank, fund manager, super fund or broker. Sector specialisation and a CFA charter or a master's degree usually come after a few years in the role.
Are investment analysts in demand?
Investment analysts are currently not in shortage, and employment is projected to grow 3.2% over the decade to 2035. With only about 3,200 people in the role nationally, most openings come through graduate intakes or when someone leaves, rather than through new desks being created.
Will AI replace investment analysts?
AI has taken over much of the data gathering and first-pass screening, which is why the role sits in the middle for exposure rather than at either extreme. Screens that once took an afternoon now run in seconds, and a long annual report can be summarised in minutes. What remains with the analyst is the judgement about management quality, the assumptions behind a valuation and the responsibility for defending a price target.
What can investment analysts move into?
The common next step is fund management, where the valuation work is similar but you also own the portfolio decision, and pay is $36,400 more at the median. Broking and commodity trading use the same market analysis for client or desk decisions, while investment banking and private equity lean harder on modelling and deal diligence and usually need a short course or fuller reskilling.
How many hours do investment analysts work?
Full-time investment analysts average about 42 hours a week, but that figure hides a lumpy calendar. Reporting season and market shocks push well past it, while quieter weeks sit closer to standard office hours.
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