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A Financial Analyst helps clients make ideal investment decisions by weighing the benefits and disadvantages of a certain investment as well as assessing each of their decision and making appropriate suggestions.
Financial Analysts often work for banks and other organisations. The growing number of investments and financial assets are becoming increasingly complex and so companies need more Financial Analysts to advise on investment strategies. However, there will still be considerable competition for jobs since many people are drawn to this high-paying field. The tasks of Financial Analysts are broad, ranging from collecting data and monitoring the market to identifying trends and making recomm...
Financial Analysts often work for banks and other organisations. The growing number of investments and financial assets are becoming increasingly complex and so companies need more Financial Analysts to advise on investment strategies. However, there will still be considerable competition for jobs since many people are drawn to this high-paying field. The tasks of Financial Analysts are broad, ranging from collecting data and monitoring the market to identifying trends and making recommendations. Besides that, they also produce quarterly or annually forecasts for the company.
High earning potential
Can work for a variety of industries
Favourable job market
Tough competetion for new analysts
Licensure or postgraduate qualification reqired for job advancement
Long work hours
Gather information and make recommendations on investments
Understand micro and macro economics
Maintain a database of the company’s past financial records
Prepare financial reports
Predict, identify and capitalise on trends
Coordinate with company’s financial department
Recommend ways on reducing risk and getting insurance if necessary
Assess the risk of certain actions and develop contingency plans
Present ideas and recommendations
Be aware of changes to government legislation and study how it may affect your clients
Able to explain complex information
In the complex world of finance, people with no financial background will not be able to understand if you were to tell them about everything in professional terms. It’s almost like chicken talking to a duck. Hence, it is crucial that you explain the essential information in the simplest way.
Awareness of business trends and latest changes
Any changes in the market will cause multiple effects. To give your clients or organisations the most accurate suggestion and forecast, you will need to be aware of the latest happenings in the market. Besides that, you will need to predict what’s coming and what’s the best step to take next based on the trends and changes.
When it comes to finance, everything is private and confidential. To earn and maintain the trust of your clients and organisation, you should never disclose any personal information or information regarding the finance.
To qualify as a Financial Analysts, you must have a bachelor’s degree in Accounting, Business Administration, Finance Management, Economics or any of the relevant field. To advance in your career, acquiring a Master’s in Business Administration (MBA) and a variety of accounting- or finance-related certifications will be necessary. Moreover, excellent interpersonal communications skills are important for this kind of job.
The working hours of a Financial Analyst is longer than the average business hours. Depending on the schedule of your client, you may need to work overtime. Not only that, you should be prepared to work at home as well since there will be days where staying in the office will not be sufficient to get your job done..
Feb 26, 2021
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Feb 25, 2021