How to Become a Financial Analyst in 2024
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- čas přidán 28. 02. 2024
- 🚀 𝗦𝗶𝗴𝗻 𝘂𝗽 𝗳𝗼𝗿 𝗢𝘂𝗿 𝗖𝗼𝗺𝗽𝗹𝗲𝘁𝗲 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 𝗧𝗿𝗮𝗶𝗻𝗶𝗻𝗴 𝐚𝐧𝐝 𝐂𝐚𝐫𝐞𝐞𝐫-𝐁𝐨𝐨𝐬𝐭𝐢𝐧𝐠 𝐑𝐞𝐬𝐨𝐮𝐫𝐜𝐞𝐬 𝐍𝐨𝐰 ➡️bit.ly/3SPJ29y
Based on analysis of 1,000 job postings, we present our report's findings for an accurate overview of the financial analyst profession.
𝐉𝐨𝐛 𝐒𝐜𝐨𝐩𝐞
Depending on the company they work for, financial analysts have different degrees of specialization. In small firms, a financial analyst will have a 360-degree visibility on revenue growth rate, product sales, profitability margins, top clients, and will possibly study the financial impact of different business lines the company has. They will also work with various balance sheet items and prepare budgeting projections. This isn’t the case in big firms where financial analysts specialize and are responsible for reporting and analysis of specific P&L and Balance sheet items.
When I worked at Coca-Cola in the UK, for a significant portion of my time I was worked on analyzing the performance of the Monster brand and studied Sales, Cost of goods sold and OPEX for that brand only - no visibility of the firm’s Balance sheet, and anything below EBITDA. I also didn’t work on the company’s other brands such as Coca-Cola, Fanta, and so on.
But despite their different levels of specialization, financial analysts aim to create value for a business by supporting decisions and analyzing financial data, forecasting future financial performance, and evaluating investment opportunities.
A financial analyst’s work helps management understand which operations are profitable and how business activities impact the firm’s financial performance.
𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐒𝐚𝐥𝐚𝐫𝐢𝐞𝐬
Glassdoor and PayScale are kind enough to share their insights.
Embarking on a financial analyst career, you can anticipate starting with an average salary of $73,000. As your career progresses, expect to earn a higher wage-with analysts having four to six years of experience making over $90,000 annually.
Pursuing a career as a financial analyst is an excellent starting point-potentially leading to such roles as financial controller, finance manager, and even CFO.
Many aspiring financial analysts wonder, "Is a university degree necessary for employment?"
Our analysis of 1,000 job postings reveals that 38% require a bachelor’s degree, 29% a master's, and 32% do not specify a university degree as a prerequisite. So, while lacking a university degree does not preclude you from securing a financial analyst position, it does reduce the available opportunities.
𝐒𝐤𝐢𝐥𝐥𝐬 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐝 𝐟𝐨𝐫 𝐚 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐭
Number one on the list is Excel proficiency-a requirement for solid Excel skills in 60% of job postings.
It's important to note that in the corporate sphere, Microsoft Excel is akin to Google and other spreadsheet software to Bing. Our study shows that 99.6% of companies prefer Microsoft Excel.
The most sought-after skills for financial analysis (forecasting, budgeting, client, cost, and revenue analysis) are all covered in our 365 Financial Analyst program.
If you're committed to securing a financial analyst position, click the link in the description for an invaluable resource in your job hunt.
𝐏𝐫𝐨𝐟𝐞𝐬𝐬𝐢𝐨𝐧𝐚𝐥 𝐂𝐞𝐫𝐭𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬
Many candidates often wonder if a professional finance certification is necessary for employment. Our findings indicate that the CPA certification is the most commonly sought-after-appearing in 12% of job listings, followed by CFA at 3%.
Other commonly cited Office productivity tools include PowerPoint (14%), Access (13%), and Word (12%), alongside Microsoft Excel.
In larger companies, financial analysts are often required to work with a sophisticated Enterprise Resource Planning system. Therefore, it comes as no surprise that numerous job listings, particularly from big companies, highlight the demand for robust ERP expertise-particularly in SAP (12%) and Oracle (6%).
We’ll continue to share tutorial videos to help you on your journey to landing your dream job. Please 𝗹𝗶𝗸𝗲, 𝘀𝗵𝗮𝗿𝗲, 𝗮𝗻𝗱 𝘀𝘂𝗯𝘀𝗰𝗿𝗶𝗯𝗲 𝘁𝗼 𝘁𝗵𝗲 𝟯𝟲𝟱 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗔𝗻𝗮𝗹𝘆𝘀𝘁 𝗖𝗵𝗮𝗻𝗻𝗲𝗹 if you find this video helpful.
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#365financialanalyst #careerinfinance #careerpath #finance #financialplanningandanalysis #learnfinance #cfaexam #cpa #frm #cfp #learn365
🚀 𝗦𝗶𝗴𝗻 𝘂𝗽 𝗳𝗼𝗿 𝗢𝘂𝗿 𝗖𝗼𝗺𝗽𝗹𝗲𝘁𝗲 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 𝗧𝗿𝗮𝗶𝗻𝗶𝗻𝗴 𝐚𝐧𝐝 𝐂𝐚𝐫𝐞𝐞𝐫-𝐁𝐨𝐨𝐬𝐭𝐢𝐧𝐠 𝐑𝐞𝐬𝐨𝐮𝐫𝐜𝐞𝐬 𝐍𝐨𝐰 ➡bit.ly/3SPJ29y
Thank you so much, it's perfect.
Could you actually review my excel figures I developed for me this week? A quick review?😊😊😊😊😊
I am a recent college graduate who graduated with a BS in mathematics about 16 months ago. I am interested in potentially pursuing a career as a financial analyst or possibly some other type of analyst. I know that statistics is probably a big part of the job, so I'm sure a strong math background would be valuable to employers in this field. I just don't know how to go about getting into this field with having absolutely zero experience.
have you taken any college courses related to finance or accounting, or had done any projects relevant to the subject? Are you familiar with excel, SQL, or any other relevant software? You may have some transferrable skills and if it aligns, you'll for sure get some attention if you market yourself the right way.
Hello!
Congratulations on your graduation and your strong foundation in mathematics!
Your background can be a significant asset in a financial analyst role, where analytical and quantitative skills are paramount.
To bridge the gap between your academic experience and a career in finance, consider focusing on developing transferable skills such as data analysis, financial modeling, and statistical analysis.
To get started, you might want to look into entry-level positions or internships in finance to gain practical experience. We have a dedicated blog post about getting a finance internship with no experience: 365financialanalyst.com/career-advice/how-to-get-a-finance-internship-with-no-experience/
Additionally, enhancing your understanding of finance-specific topics, like accounting principles and financial markets, can be incredibly beneficial. How? By acquiring those skills through online finance platforms and getting rewarded with reputable certificates.
Becoming a CFA charterholder takes several years to obtain, but it is also an option.
We at 365 Financial Analyst offer a variety of career tracks, certifications, and projects designed to equip aspiring financial analysts like yourself with the necessary skills and practical experience. Our programs can help you apply your mathematical expertise in the financial context, making you a strong candidate for analyst positions.
Explore our offerings to find the right fit for your career goals and start building the experience and skills that will set you apart in the finance industry.
This is our Financial Analyst Career Track program with a verifiable certificate of achievement: 365financialanalyst.com/career-tracks/financial-analyst/
These are some of our real-world, hands-on projects that you can add to your portfolio and resume to showcase the acquired skills: 365financialanalyst.com/projects/
Best of luck in your career journey!
Best,
The 365 Team
With a strong background in mathematics, you're well-positioned to excel in several finance roles that require analytical rigor and quantitative skills. Here are a few career paths where your math expertise can be particularly valuable:
Financial Analyst: This role involves analyzing financial data, creating models, and providing recommendations based on your analyses to help companies make informed financial decisions.
Quantitative Analyst: Often known as "quants" in the finance industry, these professionals specialize in developing complex models used for decision-making in finance, particularly in investment banks, hedge funds, and asset management firms.
Risk Analyst: Math skills are crucial in assessing the risks associated with investment products or business decisions. Risk analysts use statistical tools to identify and quantify risks.
Actuary: Actuaries use mathematics, statistics, and financial theory to study uncertain future events, especially those of concern to insurance and pension programs. This role requires passing a series of exams to become certified.
Investment Banker: While this role is broader and involves various functions, having a strong quantitative background can be beneficial, especially in areas like structuring complex financial products and valuations.
Portfolio Manager: If you're interested in investment management, your math skills can help you analyze investment opportunities and manage investment portfolios to achieve specific financial goals.
Data Analyst/Scientist in Finance: With the rise of big data, there's a growing demand for professionals who can analyze large datasets to inform financial strategies and decisions.
To leverage your math background in finance, consider gaining additional knowledge in finance principles, economic theory, and financial modeling. Many professionals also find it beneficial to pursue further certifications like CFA (Chartered Financial Analyst) or FRM (Financial Risk Manager) to bolster their credentials and expertise in the field.
Yours,
The 365 Team
@@365FinancialAnalyst thanks for your advice
Recently completed my MBA in finance and banking and this is helpful in many ways 😊
Glad you liked the video! Much appreciated!
Good Afternoon......I own Tesla shares in two different brokerage accounts. One of them, I'm still doing decent, and in the other one, I'm about to break even. I'm considering selling my shares in the second one and it's enough to pay off my house. I have 20 more years left on my mortgage and it would be nice having the deed. Is this a good move? I'd be 100% debt free, which would reduce my stress level.
Which a level subjects should I choose in order to become a financial analyst??
Whatever subjects that will lead to a finance degree 😊 I did art sociology finance and economics and I studied financial trading and investment management bsc and then now I’m studying msc finance and accounting - choosing subjects that you are good at is more important so you can get higher grades and go to better universities xx
@@bluegiraffe200oh thank youuuu 🫶🏻btw I was planning to do economics business studies and maths for A-levels will that be useful to do a course in uni and to become a successful financial analyst??
Is doing MBA in finance helpful for the financial analyst role
Hello @nitakhatri7964,
Great question! An MBA in finance can indeed be quite beneficial for a financial analyst role. It not only deepens your understanding of financial principles and practices but also equips you with strategic thinking and leadership skills that are crucial in higher-level finance positions.
Furthermore, an MBA can expand your professional network and enhance your credentials, potentially opening doors to more advanced opportunities in finance.
While not a strict requirement for all financial analyst roles, an MBA can certainly provide a competitive edge and facilitate career growth in the finance sector.
We do have an insightful video on the topic, comparing CFA vs MBA: czcams.com/video/cu5pAR00rrU/video.html
Best,
The 365 Team
Is doing CMA helpful for financial analyst job
No
Which certificates I should have to become a Financial Analyst? (I'm a sophomore)
Cfa certification
Hello!
It's great that you're planning ahead for a career as a financial analyst. While your degree provides a solid foundation, certain certifications can significantly enhance your qualifications. As a sophomore, you have time to explore and decide which certifications align best with your career goals.
We have a nice video on this topic: czcams.com/video/6uk9MH2HRqQ/video.html
Here are some widely recognized ones in the finance industry:
CFA (Chartered Financial Analyst): This is one of the most prestigious certifications in the finance industry. It covers a broad range of topics in finance, investment, and portfolio management. The CFA designation is highly valued for roles in investment analysis, portfolio management, and financial advisory services.
FRM (Financial Risk Manager): If you're interested in risk management, the FRM certification is highly regarded. It focuses on risk analysis, risk management techniques, and industry practices.
CPA (Certified Public Accountant): While primarily associated with accounting, the CPA certification is also respected in the finance industry, particularly for roles that involve financial analysis and corporate finance.
CMA (Certified Management Accountant): This certification is ideal if you're interested in cost management, corporate finance, and strategic planning. It's highly valued in corporate finance roles within companies.
Microsoft Excel Certification: While not specific to finance, Excel skills are crucial for financial analysts. A certification can validate your proficiency, which is beneficial when handling financial modeling and analysis.
Business Intelligence Tools: Familiarity with BI tools like Tableau or Power BI can be an asset. Certifications in these tools demonstrate your ability to analyze and present data, a key skill for analysts.
As a sophomore, you have time to explore these certifications and even start preparing for them. Consider internships and practical experiences that align with these certifications, as they can provide context and application for your learning. Remember, the right certification for you depends on your career interests and the specific field of finance you wish to enter.
Best of luck in your journey to becoming a financial analyst!
Best,
The 365 Team
@@user-xs6fu9hv2d but when searching, lots of people said that it's not worth to learn CFA
How much it take time to become financial analyst?
Depending on how fast you want to study. With our program you can acquire the necessary skills in 3 months by studying several hours daily.