In the current job market, the hottest job position for new Finance graduates is a financial analyst. A person who will meet expectations of employers in this area may surely find employment as well as professional growth chances. This is not an easy job and taking care of one’s portfolio is something very tough. Hence, you need to keep this in mind. Also, banks usually hire people with a bachelor’s degree in administration or a Master’s degree in Finance. Being a Charted Financial Analyst (CFA) might also help.
What is a financial analyst?
The financial analyst known as the business analyst is the person that is involved in monitoring financial movements of companies. The main task of the analyst is evaluating the company’s financial risk as well as drafting the financial forecasts. With the assistance of such analysts, companies will make well-informed financial choices, develop cash flows, maintain the budgets, and debt strategies. They are people who guide you in the right way, and there is lots of demand for this kind of people in the industry. There are lots of people getting into this kind of professions. This makes it a good option.
Industries who demand financial analysts
There are many industries that need financial analysts for handling different finance related issues, and some of the industries include:
- Aerospace & Defense industry
- Accounting & Auditing services industry
- Biotechnology and Pharmaceuticals industry
- Banking industry
- Computer Software and Hardware industry
- Business Services industry
- Consumer Packaged Goods
- Construction industry
- Electronics, Components & Semiconductor industry
- Education industry
- Financial Services industry
- Engineering Services industry
- Energy & Utility industry
Financial Analyst Duties:
- They will evaluate the organization’s financial risk as well as prepare the report describing the financial forecasts, capital management strategies, and financing options. This is a great option, and you will be sure of getting the right kind of advice.
- Determine the cost of the operations just by collecting or analyzing the operational data.
- Assist in preparing the company’s budget.
- Establish different policies & procedures related to costs.
- Identify present financial status for a company just by analyzing or comparing the actual results with the forecasts.
- Maintain the database by verifying, collecting, or backing up the data.
- Recommend different solutions to improve or manage the financial status just by monitoring or identifying the financial trends.
- Work with the company officials to get a better insight into company’s prospects or management.
- Keep the financial information very confidential.
- Develop the automated accounting apps with the aim to boost the productivity.
To get in the job position, one should have the undergraduate degree in the finance, economics, management, statistics as well as administration. Having the certifications and a graduate degree will notably enhance the applicant’s prospects. Moreover, the internship during the studies is really fruitful in the long-run. This is a very important thing, and unless one has the right education, one cannot become an FA.
Various skills needed to become the successful analyst include:
- Detailed understanding of the companies
- Excellent communication skills that includes both verbal & written
- Project management skills
- Superior analytical & organizational skills
- Ability to work out independently & take the sound decisions
- Ability to create the financial models
- Knowledge of the computers or other latest technologies
- Should manage the multiple tasks, projects
- Good understanding of the financial and the quantitative concepts
Once someone has all this then you can be sure, that you will find the right kind of people, so what are you waiting for.
The financial analyst job definitely is a most lucrative career option, particularly for people who are good in analyzing the financial concepts. The experience in profile will give you the high income as well as other benefits.