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, then this article will help you to know about all the essential information to get into this career field.
First, understand what is the role of the financial analyst in a company?
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 financial conditions of a company. They play a very crucial role in any organization to take the right decisions. They are also responsible for management of the organization cash flow and handle day-to-day payments.
These people also are known as an investment analyst, an equity analyst, a research analyst or a securities analyst. Candidates who work in finance industry can make their career in different areas like commercial banking, financial planning, Investment banking, and insurance and real estate industries. All areas are related to each other’s and need different skill sets and different educational requirement.
Let’s start with the essential information to build s meaningful career:
Educational requirement to start your journey:
To have success in your career, you need to start early. Get a bachelor degree first in finance, economics, academics, management and in any related field. Along with bachelor degree, an MBA degree and another financial degree such as CIM, CFA, and CMA can help in getting a financial analyst job and a senior level position. All these degree and courses will provide you complete understanding of financial management, interpersonal skills, technological expertise, and professional insight.
Apart from the qualification, the analyst needs to have certain 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?
Salary of an individual depends on various different factors such as company, location, educational background, experience, and on many more different factors. In India, an 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 easily get a higher post.
In which area a financial analyst can get a job?
Now, you have a better idea about 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 analyst such as security analyst, investment, and rating analyst. They can work in different type of organizations including insurance companies, mutual funds, investment banking, pension funds, hedge funds, securities firm etc. Each type of analyst performs different tasks and has different responsibilities.
Along with this, finance sector offers different other career options and major job opportunities. After getting degree and all the required skills you can get a job in any private or government sector. Various schemes and vacancies are held by the government in order to hire the right candidates. There are various job portals where seekers can easily apply for the job.
Arpana Sharma is a passionate content writer who writes articles related to jobs and career opportunities in various profile. She also writes about varied topics such as tourist spots, temples and loves to explore them.