Do you want to become a financial analyst? Do you know what education or degree required to start a career in this field? If no, this article will help you understand all the essential information to enter this career field.
First, understand what the role of the financial analyst in a company is?
A career in finance is not all about money, but it is close to it. A financial analyst is a person who performs complete analysis to understand the economic conditions of a company.
They play a very crucial role in any organization to make the right decisions. They are also responsible for the management of the organization’s cash flow and handle day-to-day payments.
These people also are known as investment analysts, equity analysts, research analysts, or securities analysts.
How To Be a Financial Analyst
Candidates who work in the finance industry can make their careers in commercial banking, financial planning, investment banking, and insurance and real estate industries.
All rooms are related to each other’s and need different skill sets and additional educational requirements.
Educational requirement to start your journey:
To have success in your career, you need to start early. Get a bachelor’s degree first in finance, economics, academics, management, and any related field.
Along with a bachelor’s degree, an MBA degree, and another financial degree such as CIM, CFA, and CMA can help get a financial analyst job and a senior-level position.
All these degrees and courses will provide you a complete understanding of financial management, interpersonal skills, technological expertise, and professional insight.
Apart from the qualification, the analyst needs to have specific skills such as:
- Strong analytical skill
- Good knowledge of business management
- Interest and curiosity in analyzing
- Problem-solving ability
- Strong decision-maker
- Good communication skill
- Strong MS Excel skills
How much salary a financial analyst earn?
An individual’s salary depends on various factors such as company, location, educational background, experience, and many more different aspects.
In India, the average salary of financial analysts is around Rs. 353,991 annually, according to Glassdoor. With few years of experience, you can earn well and can quickly get a higher post.
In which area a financial analyst can get a job?
Now, you have a better idea about the role and responsibility of an analyst, educational requirement, and salary, now it is the right time to know which area these people can work:
There are different types of financial analysts such as security analysts, investment, and rating analysts. They can work in other organizations, including insurance companies, mutual funds, investment banking, pension funds, hedge funds, securities firms, etc. Each type of analyst performs different tasks and has other responsibilities.
Along with this, the finance sector offers different other career options and significant job opportunities. After getting a degree and all the required skills, you can get a job in any private or government sector.
The government holds various schemes and vacancies to hire suitable candidates. There are various job portals where seekers can easily apply for the job.
Arshi Prabha is a passionate content writer who writes articles about jobs and career opportunities in various profiles. She also writes about varied topics such as tourist spots, temples and loves to explore them.