Technical Analyst Salary: Your 2024 Guide

Technical analysts work for businesses to identify investment opportunities by analyzing market data to develop strategies for trading. In this role, you will use data analysis to explore the relationship between profits and risks when buying, selling, and approaching investments. You can expect to work in a fast-paced environment, with the need to keep up with emerging technology and add it to your repertoire to provide accurate, dynamic insights. 

Learn more about the details of a technical analyst’s salary and how you can maximize this through your education, experience, where you work, and the industry in which you work. 

What is a technical analyst?

A technical analyst is a type of data analyst who analyzes stock market trends to determine the risks of investing. To accomplish this, you’ll use technical indicators, study prices, and consider a company's assets, products, and resources. As the name suggests, the role is technical, using computer programs and software. It involves preparing reports on financials to present to executive-level staff to support them in making informed decisions based on trends and complex data analysis. 

Technical analysts work in various industries, including retail, manufacturing, finance, and health care. 

Read more: What Is Data Analysis? (With Examples)

How much does a technical analyst make?

According to several reputable job listing websites, a technical analyst earns an annual average salary ranging from $70,398 to $96,091. The salary ranges given by four popular websites are as follows [1, 2, 3, 4]:

Factors that impact a technical analyst's salary

The average salary for a technical analyst is above the national average if you compare it to the US Bureau for Labor Statistics’s (BLS) mean wage of $65,470 [5]. However, when you look at the average salary data, it gives you a basic idea of what you can expect. Your earning power can fluctuate according to several factors, such as location, the industry you choose, and whether you work in an entry-level, mid-level, or senior role. 

Examine the factors affecting salary in more detail to understand their impact, get a better idea of what you can anticipate earning in this position, and strategize ways to boost your potential wages.

Education

Getting a bachelor’s degree is typically the minimum requirement to work as a technical analyst, though you can get a job with an associate degree. Common majors include software engineering, computer science, business, economics, finance, accounting, and information technology. According to Zippia, 68 percent of technical analysts have bachelor’s degrees, 14 percent have associate degrees, and 12 percent have master’s degrees [6]. 

Your education level can factor into your salary. For example, if you have an associate degree, the average salary is $68,537, according to Zippia’s September 2024 data. However, if you have a bachelor's, you could earn a median annual income of $75,266 or $80,714 with a master's degree [6].

Read more: How to Get a Bachelor's Degree

Certifications

As the role of a technical analyst is so specialized, additional certifications can potentially help you gain higher-level positions and the higher salaries that these bring. Some certifications you might consider for a career as a technical analyst include the Certified Business Analysis Professional (CBAP) offered by the International Institute of Business Analysis and the Certified Analytics Professional (CAP) certification provided by the Institute for Operations Research and the Management Sciences (INFORMS). The Certified Computing Professional (CCP) designation by ICCP, the Chartered Financial Analyst (CFA) designation, and the Chartered Market Technician (CMT) designation are also great options you might consider.

As for how they might impact your salary, September 2024 data from Payscale shows that having a CBAP credential correlates to an average salary of $98,000 [7]. By having a CCP certification you can earn an average of $89,000 [8], and getting your CFA could help you make an average base salary of $106,000 [9]. 

Experience

Experience is another essential factor in maximizing your earning power. As a base, a technology analyst must have experience in information technology, starting in roles like software engineering. To build on this, technical analysts gain experience in various industries, including finance, insurance, and health care. 

You may earn higher salaries as you gain professional experience and hone your technical analyst skills. For example, a technical analyst with over 20 years of experience can expect to earn an average of $24,000 more than their entry-level counterparts. According to Payscale, the average annual salary at various career levels is as follows [1]:

Location

Location plays a part in your technical analyst salary. Different areas pay different rates, and it’s a good idea to learn the geographic hot spots for robust earning potential. Pay differs according to the state and city you work in. Explore location-based salary information in more detail to see how your potential work area measures up. 

Highest-paying cities for technical analysts

According to Zippia, these are the highest paying cities and the salary to expect working as a technical analyst [2]:

1. San Francisco, CA: $90,908

2. Seattle, WA: $89,484

3. Hillsboro, OR: $79,282

4. New York, NY: $77,946

5. Jersey City, NJ: $77,035 

Highest-paying states for technical analysts

The highest-paying states with average annual salary for technical analysts, according to Zippia, are as follows [2]:

1. Washington: $88,985

2. California: $84,833

3. Oregon: $79,017

4. Montana: $78,209

5. New York: $77,802 

Industry

As a technical analyst, you can work in various industries and for many types of employers. For example, you might work for financial institutions, brokers, or investment agencies in finance. Some of the highest-paying sectors and the median base salary of each, according to Glassdoor, are as follows [3]:

1. Retail: $82,870

2. Health care: $83,956

3. Manufacturing: $84,674

4. Finance: $100,168

5. Hospitality: $80,240 

Highest-paying companies for technical analysts

When searching for data analyst jobs, you’ll find variations in salary. The difference might be due to the size and stature of a company, as well as its location and industry. If you’re looking for the highest salaries, Glassdoor’s August 2024 data ranks the top-paying companies as follows [3]:

1. Google: $132,000 

2. Meta: $132,000

3. McKinsey & Company: $139,000

4. Workday: $120,000

5. Pinterest: $124,000

*Note: the above data reflects the median base salary. Many of these companies offer additional compensation, including bonuses and commissions, that increases the total pay.

Build technical analyst skills on Coursera.

Technical analysts help businesses find investment opportunities. A technical analyst's salary can vary based on your experience, where you work, and your education. 

Are you looking for a job as a technical analyst or a similar position? Adding credentials to your resume can offer a great starting point and demonstrate that you have essential technical analyst skills. You might consider Finance and Quantitative Modeling for Analysts Specialization delivered by the Wharton School of the University of Pennsylvania or the Google Data Analytics Professional Certificate, both available on Coursera.