How to Make 6 Figures As A Financial Analyst? (11 Best Ways in 2024)
So you want to make six figures as a financial analyst? Good for you! Being a financial analyst is a highly respectable and well-paid profession, and there's no reason why you can't earn a high income if you put your mind to it.
In this blog post, we'll look at some of the best ways to make more money as a financial analyst - business ideas you can start to achieve such income. Keep reading to learn more!
1. Start a social media marketing agency ($116K/month)
Starting a social media marketing agency could provide you the flexibility to build a secondary income stream while maintaining your full-time role as a financial analyst. You could develop a highly efficient social media marketing strategy, leveraging automation tools that minimize the time commitment required to manage multiple clients. This efficiency allows you to serve customers effectively without disrupting your primary career responsibilities.
Furthermore, creating a robust agency portfolio would help you attract and retain clients, potentially turning this side venture into a lucrative business. With the right approach and consistency, you could significantly supplement your income, helping you to clear utility bills, finance education, or save for special vacations. By strategically balancing both roles, you have the potential to achieve a six-figure income through diversified revenue streams.
How much you can make: $1,000 — $500,000/month
How much does it cost to start: $7,500 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 30 hours/week
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
2. Start a career coaching business ($48.5K/month)
Starting a career coaching business could significantly boost your income as a financial analyst by leveraging your expertise to guide others through their professional journeys. By offering personalized guidance, resume building, interview prep, and workplace advancement strategies, you could help clients achieve their career goals. This allows you to create substantial additional revenue streams and passively build your brand.
With the flexibility of in-person or virtual meetings, you have the freedom to manage your schedule while growing a loyal client base. Your natural talents for speaking and motivating others can be monetized, providing a rewarding way to enhance your financial standing without compromising your main career.
How much you can make: $1,000 — $235,000/month
How much does it cost to start: $1,500 (?)
How long does it take to build: 60 days (?)
Wall Street Oasis, the largest online community focused on careers in finance, has over 100 million visitors during its 14-year history and is currently receiving over 2 million visits per month, offering interview courses and mentorship services, in addition to building and investing in a thriving online community.
3. Start a podcast ($97.9K/month)
Starting a podcast could be a highly effective way for a financial analyst to supplement their income and eventually make six figures. By choosing a niche within finance that you’re passionate about and that has a substantial audience, you could create highly valuable and informative content. This would not only establish you as an authority in your field but could also attract a loyal following.
With basic recording equipment and an affordable hosting platform, you could keep initial costs low. As your audience grows, so do the opportunities for monetization through sponsorships, advertisements, and even premium content subscriptions. By promoting your podcast on social media and in online communities, you could expand your reach and ultimately turn your audio content into a profitable side business or even a primary income source.
How much you can make: $400 — $1,020,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.
4. Create an online course ($91.9K/month)
Creating an online course could be a lucrative avenue for making six figures as a financial analyst. By identifying educational gaps in financial analysis and developing engaging video lessons supplemented with relevant materials, you could establish a platform where you share your expertise with eager lifelong learners. This not only allows you to monetize your instructional talents but also provides a flexible structure—whether self-paced or cohort-based—to cater to a diverse student base.
Given the low startup costs and the high demand for specialized financial knowledge, this entrepreneurial venture could offer significant passive income potential. As you grow your student base and continuously refine your course offerings, you could build a substantial additional revenue stream, complementing your primary career while expanding your impact in the field of financial analysis.
How much you can make: $350 — $1,000,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 88 days (?)
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
5. Become a social media influencer ($57.4K/month)
One compelling way you could supplement your income and move toward making six figures as a financial analyst is by leveraging your expertise and becoming a social media influencer. Brands are keen to connect with knowledgeable and credible influencers who can engage their niche audience, and as a financial analyst, you possess the specialized knowledge that appeals to a vast segment of social media users interested in finance.
By creating high-quality content on platforms like YouTube, Instagram, and TikTok, you could attract a substantial following, allowing you to monetize through sponsorship deals, affiliate marketing, and paid collaborations. Sharing insights on financial analysis, investment strategies, and market trends could position you as a trusted authority in the financial sector, thereby increasing your earning potential through both direct and passive income streams.
Starting this side business not only diversifies your income but also enhances your professional brand, opening up even more lucrative opportunities. Choosing a niche that aligns with your expertise and interests ensures sustained content creation, making the path to six figures more achievable.
How much you can make: $2,500 — $166,666/month
How much does it cost to start: $800 (?)
How long does it take to build: 155 days (?)
How one mother built a profitable frugal motherhood, life, and travel blog from scratch, using Instagram, Pinterest, and paid sponsorships to grow from 0 to 18.5K followers and generate $1,500-$3,000 per month in less than two years.
6. Start a blog ($44.9K/month)
Starting a blog could be a powerful way for you to supplement your income as a financial analyst. By sharing your financial insights, investment strategies, and market analysis, you could reach a broad audience, given that 77% of internet users read blogs and blogs are rated as the 5th most trustworthy source of online information. This could, in turn, enhance your credibility and help you build a dedicated following.
Apart from ad revenue, you could monetize your blog through affiliate marketing, sponsored posts, and even selling your own financial courses or eBooks. With approximately 409 million people viewing over 20 billion pages each month, the potential to attract a significant audience and increase your earnings is substantial. Whether as a side hustle or a full-time career, blogging offers a flexible and creative way to leverage your expertise into a six-figure income.
How much you can make: $100 — $650,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 30 days (?)
Time commitment per week: Min. 5 hours/week
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
7. Start an ecommerce store ($287K/month)
Starting an eCommerce store could be a strategic and profitable way to supplement your income as a financial analyst, potentially helping you reach a six-figure salary. With lower overhead costs and increased flexibility compared to traditional brick-and-mortar businesses, you could efficiently manage an online store alongside your primary career. The ability to reach a broader audience, thanks to the digital nature of eCommerce, makes it a promising option for entrepreneurial-minded professionals.
Given the current boom in eCommerce, driven by consumer preferences for convenience and efficiency, now is an ideal time to tap into this market. You could sell products or services related to your expertise or leverage other interests to create a diversified income stream. By setting up a website with the necessary payment processing and inventory management tools, you could create a seamless shopping experience that attracts and retains customers, ultimately boosting your financial growth.
How much you can make: $350 — $13,500,000/month
How long does it take to build: 120 days (?)
Time commitment per week: Min. 5 hours/week
Southern Elegance Candle Company, founded by D'Shawn Russell, started as a side hustle making around $200 per weekend at a local Farmers Market, but now averages approximately $20,000 per month in sales across their retail site, wholesale site, and Faire.
8. Start a youtube channel ($146K/month)
Starting a YouTube channel could be a powerful way for a financial analyst to supplement income and eventually make six figures. With YouTube's established monetization system, you could leverage your expertise to create educational and insightful videos about financial analysis, market trends, and investment strategies. This not only positions you as a thought leader but also opens multiple revenue streams through ad revenue, sponsored content, and affiliate marketing.
Additionally, once you reach the benchmark of 1,000 subscribers and 4,000 watch hours in the past 12 months, you could join the YouTube Partner Program to monetize your content directly. The popularity of finance-related content on YouTube means there's a large, built-in audience eager for high-quality financial advice. Through consistent and engaging content, you could create a successful YouTube channel that generates significant extra income, contributing substantially to reaching your six-figure goal.
How much you can make: $800 — $1,000,000/month
How much does it cost to start: $750 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 5 hours/week
Learn how this entrepreneurial couple made $5-7k a month by helping others find legitimate work from home jobs and creative ways to make money online through their blog and YouTube channel, as well as offering two flagship products designed to help beginner freelancers and new bloggers accelerate growth.
9. Start a freelance writing business ($65.5K/month)
Starting a freelance writing business could be a lucrative way to supplement your income and eventually help you make six figures as a financial analyst. With strong writing skills and the ability to meet deadlines, you could carve out a niche in financial writing, sharing your expertise through blogs, articles, or reports. This avenue allows you to leverage your financial knowledge while enjoying the flexibility to set your own schedule and work from home.
By staying on the cutting edge and keeping up with current writing tools and trends, you could attract higher-paying clients who value your specialized skills. As a self-starter with proper communication skills, you have the potential to build a steady stream of freelance work, converting your analytical insights into engaging content. Over time, this additional income stream could significantly boost your earnings, helping you achieve your goal of making six figures.
How much you can make: $700 — $500,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 56 days (?)
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
10. Digital products ($261K/month)
As a financial analyst aiming to break the six-figure mark, creating and selling digital products could unlock a lucrative stream of additional income. Digital products are highly scalable and can range from informational assets like eBooks and online courses to software-based offerings such as financial modeling apps or exclusive membership sites focused on finance strategies. Not only do these products leverage your domain expertise, but they also provide passive income opportunities.
The beauty of digital products is that they’re relatively easy to create and distribute. You could develop and maintain them yourself, thus keeping overhead costs low. More importantly, you don't have to worry about inventory or shipping logistics as everything can be sold directly from your website. This democratizes the selling process, allowing you to focus more on creating value for your audience and less on operational headaches.
How much you can make: $10,417 — $1,766,666/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 60 days (?)
FilterGrade is an eCommerce platform offering digital assets such as photo filters and video templates; attracting over 450,000 monthly users and generating approximately 30k a month, the founders worked hard to build a valuable marketplace for creators while focusing on digital marketing, partnerships, and content creation.
11. Become an affiliate marketer ($55.3K/month)
Starting an affiliate marketing business could be an excellent way to supplement your income as a financial analyst and even help you reach six figures. Since you don't need to create or own the products yourself, you could leverage your marketing skills to promote other companies' products or services and earn a commission for every sale made through your referral.
Affiliate marketing is a low-cost business idea, requiring minimal upfront investment, making it accessible for those on a budget. By signing up for affiliate programs in your chosen niche and using unique tracking links, you could efficiently drive traffic and sales to partner businesses. This could provide a steady stream of extra income, complementing your primary salary and pushing you closer to that six-figure mark.
How much you can make: $18,000 — $83,000/month
How much does it cost to start: $100 (?)
How long does it take to build: 150 days (?)
This case study explores how Spencer Mecham founded Buildapreneur, an affiliate marketing business, and has made over half a million dollars in profit with no employees, relying solely on content marketing through platforms like Facebook, YouTube, and TikTok.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
