If you have a liking for numbers, you might want to look at the career option as – Financial Analyst. Let’s have a look at what financial analyst is and how can you be the one.
Who is a Financial Analyst?
A Financial analyst examines financial data and uses their findings to help organizations make better business decisions. More specifically, a financial analyst research macroeconomic and microeconomic conditions along with the company’s fundamentals to make relevant predictions about sectors, businesses and industries.
However, their responsibilities depend on the organization; they are generally responsible for the financial performance of a corporate or investment firm. They search macroeconomic and microeconomic conditions along with the organization’s fundamentals to make predictions about the sectors, business and industries. They must be aware of the current developments in the field in which they specialize, as well as preparing financial models to predict future economic conditions.
Not every financial analyst analyze stock or bond markets to help make investments decision. Some are responsible for analyzing numerical data to pinpoint the efficacy of marketing techniques. Some also travel to meet with financial professionals in the industry and mostly work in corporate offices spends considerable time on calls and discussion with other analysts.
How do you become a financial analyst?
Step 1: Complete your bachelor degree
If you are progressing in the direction of your bachelor degree, you are now en route to a financial analyst vocation. Most rehearsing financial analyst opts for finance-related major like statistics, accounting or economics; in any case, that isn’t really essential. It is suggested that you take courses in business, economics, accounting, and math in your undergraduate program, as they will be essential for this kind of career option.
Many employers prefer candidates who have additional degrees or certification. One of the most prestigious designations you can attain is CFA which is generally for senior-level positions. It requires you to pass three rigorous exams which will qualify you for various advanced level financial analyst roles. Additionally, you will need four years of relevant experience for earning the charter.
Step 3: Apply for Internships
This is not a mandatory step; although, it is strongly encouraged that to get a realistic picture and clear understanding of the type of work you would like to do, pursue a financial analyst internship. Internships give an opportunity to network and also provide a chance to be permanently employed with the employer. Besides, an internship allows you to demonstrate your interest and build experience. It is beneficial both for freshers and experienced professional.
Step 4: Find a job
Once you have attained your bachelor degree in a relevant field, you can pursue job openings for titles like an entry-level financial analyst or junior financial analyst. You will work under the guidance of a senior analyst who will guide you towards your role. In similar roles like these, you will maintain files, process financial statements and analyze income statements. Junior level analyst often requires either a certification or a master’s degree eventually.
Demand for a financial analyst is high and is expected to grow over the next decade. Obtaining a high degree like an MBA with an emphasis on finance will make you more attractive to employers and allow you more flexibility in your career.
Harshita is a content marketer with hands-on experience on diversified projects. She discovered the interest in writing from the very beginning of her professional career. From nibbing on pages to for...
