Being a financial analyst is like becoming Sherlock Holmes, but your Watson is a spreadsheet, and your magnifying glass is a calculator. But whoever wants varieties in their career you can look after for financial analysts. It allows you to work in different sectors. Now the question is: What does a Financial Analyst do? The work is helping their clients or companies invest their money lawfully and gain additional profit. They analyze the bond, stock or other investments to make the best use of their clients or companies wealth. After conducting extensive research with their investments they make a financial report for their clients and consult with them to gain insight into how they want to spend their money. And let’s not forget—the salary of a financial analyst is amazing! It’s one of the big advantages of the job. It’s also a demanding job globally!!
Here are some steps I am discussing how you can crack the job
- The first step is to get a degree. To be a financial analyst there is no specific degree that you need to achieve. So that’s a plus point for you. But beneficial degree fields include finance, economics, commerce or another programme that is related to those. Also you can get a business, math or statistics degree as well. Pretty smooth right!!
- The second step is bonus. Obtain a certificate. Certifications might not be required, but they’re a game-changer! Programs like the Financial Modeling and Valuation Analyst course or the Chartered Financial Analyst exam are worth considering. These extras can give you an edge and help you for senior roles in the future.
- At the beginning I mentioned that this opportunity has a variety of sectors to work in. Financial analysts can work in all kinds of industries, so you’ve got lots of options to figure out what area matches you best. I am mentioning some work fields here :
- Financial planning and analysis analyst
- Investment analyst
- Securities analyst
- Financial risk specialist
- Rating analyst
- Portfolio manager
- Funding manager
- Equity research analyst
After working all of the fields you can find your own working area. Once you’ve worked in a bunch of areas, you’ll start to find the one that feels like your own.
- Lastly, Keep updates on what is going on in the financial industry. Staying updated on financial news isn’t just a skill—it’s a habit that sets you apart. Employers appreciate candidates who are knowledgeable, and with the ever-changing business landscape, your ability to gather and apply this information will drive your success.
Whatever job you want to do, you will need particular skills that make you stand out from others. In the financial industry, specific skills can help you achieve your goals even faster.
- Financial analysts really need good communication skills. They need to explain their ideas and suggestions clearly to clients and colleagues, making sure everyone gets the point. Strong written communication is equally important, as they’re often responsible for creating detailed reports and summaries that can inspire action and drive results.
- One skill financial analysts can’t do without is analytical skills. They research data from everywhere to find the insights that lead to profitable investments and financial growth. With these skills, they can reduce risks and avoid investments with little to no benefits—an essential part of helping their clients succeed.
- In this digital era, almost every work is done by computer. So if you lack skills in this area, it could be a problem for you.. For financial analysts, being good with computers is a must. They use different apps and software to analyze data, look at charts, and spot trends. Spreadsheets are their go-to for reports, and they need solid computer skills for things like forecasting and portfolio creation. Plus, there’s special software for financial analysis they have to get comfortable with.
- Technical skills are fundamental for financial analysts to perform effectively. They also do business analysis, where they study processes and budgets to make recommendations. Plus, they’re pros at valuation methods like DCF analysis and comparing transactions.
This blog surely helped you to understand the concept of financial analyst. In this field so many opportunities are waiting for you. So ready to be a financial analyst? Start working hard from now!!
To read more blogs, Click here
Writer
Anika Sharmila
Intern, Content Writing Department
YSSE