How to Become a Finance Analyst
Are you keen enough to be part of the financial services industry by becoming a financial analyst someday?
Starting a career as a financial analyst requires a good educational background and competent skills in the specialized area; if you think that you are capable to this position then we will show you the steps on how to become a finance analyst.
Becoming a Finance Analyst- A Highly-Paid Profession
If you’re still an undergrad student and you’re still undecided of what profession you want to pursue after receiving your diploma, there’s a nice and very in demand line of work that the financial services industry is looking for, think of becoming a professional financial analyst one day. This highly-paid profession is a desirable career to pursue if you are willing to start working in a junior position then once you’ve gained the enough knowledge and expertise in the financial field, earning as low as $40,000 per year is very possible (performance bonuses is excluded).
As a finance analyst, the profession deals with money matters and other corporate dilemmas that requires expert recommendations and resolutions. The job also tackles about deep understanding about the current financial situation of the economy that affects most businesses, particularly in the micro- and macroeconomic areas. Those who are working with banks, securities firms, and insurance firms are also known as investment or securities analyst. They are often hired by large businesses and companies who are seeking assistance to get some recommendations and advices regarding huge business projects or incoming investments. Most financial analysts are working to guide businesses on how to make their investments meaningful and productive by providing positive outlooks based on their studies and assessment.
However, entering the industry is very challenging and it will require you to possess all the qualifications before you can be a financial analyst. And also, without a strong educational foundation it is impossible for you to get the job as most financial services companies are seeing this area as a significant requirement. In view of this, here are the other things you need to do if you want to become a reputable financial analyst of your country.
You can be a financial analyst by following these simple advices:
- Earn a Bachelor’s Degree – As mentioned earlier, receiving a college diploma is important for acquiring the position. Courses related to finance, banking, business management, accounting, economics, engineering, and even computer science are the most favorable; but those who have MBA degree in Finance are well-qualified for senior positions.
- Acquire certifications and licenses - If you don’t have an MBA degree, you’re another option is to obtain certification such as the CFA or Chartered Financial Analyst, CAIA or Chartered Alternative Investment Analyst, and FAD (Financial Analyst Designate).
- Be qualified – An aspirant as financial analyst, even for the junior position, should have strong problem-solving or analytical skill, excellent communication skill, detail-oriented, and skillful on the field of specialization.