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How to Become a Financial Analyst

It is a part of a financial analyst’s job to form smart ideas for investment concerns. Businesses and individuals who have an endowment to invest rely on the expertise of a financial analyst to make a profitable decision. Analysts are highly trained to do analysis about financial data that will lead to good investments. In order to be one of them, you must have a bachelor’s degree in either finance or accounting courses. Earning a certification from the CFA Institute will serve as an edge for your job application. This certificate is a measurement of your integrity and comprehension in the world of finance and accounting. Although not all employers will require you to have one, most businesses do prefer applicants that are certified. Some of the key traits that will help you get by in this highly competitive field are excellent analytical skills, a positive outlook and good communication skills. Your willingness to grow and learn will help enhance your knowledge, especially if you’re still starting in this career.

You have to feed yourself with new information every day. Keeping yourself updated with issues relating to commerce and other financial topics will prepare you well for this tough job. In order to excel as a financial analyst, you must have the ability to make impromptu and efficient finance decisions. Of course, you will become a master of this task once you gain more work experience. Some of the things that you will be dealing with are tax rates, budgets and commodities. You will be handling the financial statements of the company or business that you will be working for. It is your duty to check, analyze and audit the balance sheets and other financial data of the firm. Proficiency in computers is also important in this career as you will be working with various software programs that will help you finish your tasks. This is the reason why you need to take up a course in economics, finance, accounting or commerce if you want to become a financial analyst. Once you have earned at least 3 years of work experience, then you can apply for a certification program.

Being a financial analyst, you will be working in insurance companies, brokerage firms and other business facilities. You can even land a job in a university or college to teach aspiring financial analysts. However, you need to prove yourself in this field first. Of course, a discussion about any career is not complete without tackling the salary. You would be happy to know that aside from the monthly pay check that you will receive, you will also get bonuses as a financial analyst. In fact, your bonuses can get so high that it may double your annual pay. But this is dependent on the financial status of the company. If the firm is good and steady with making profits, then it follows that you will be getting a high bonus as well. Although a financial analyst’s job can be really stressful, if you possess mental strength then you’ll learn to love it and live with it.

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