What you need to know about becoming a financial analyst
A career as a financial analyst requires taking responsibility for the organisation’s financial planning, analyses, and forecasts. Financial analysts usually work with senior management to set clear directions and policies in terms of the company’s financial status and investment decisions.
Typical job description for a financial analyst:
- Analysing past and current financial data
- Performing financial forecasting and reporting based on the analysis
- Studying economic and business trends
- Exploring investment opportunities
- Working closely with members of the finance team to ensure accurate financial reports and information
- Meeting with senior management to discuss financial reports and planning
- Establishing and enforcing financial policies and procedures
- Risk management
A bachelor’s degree is typically required to obtain a job as a financial analyst, but a master’s degree is still preferred. You can study financial management, financial sciences, and investment management, just to name a few.
Employment opportunities and market competitiveness
A career as a financial analyst offers you a broad range of employment opportunities, from the investment industry to the banking and insurance industries, and many more. Related occupations include financial reporting manager positions as well as investment analyst roles. General management studies are useful if you want to take your career to the next level.
The market competitiveness for this position is moderate and it comes with a high-income potential. There is the option to be self-employed as a contractor or consultant. You can also find international opportunities if you have experience in this field.
Skills needed for this position
Excellent analysis and research capabilities are required for this role. The ability to work with spreadsheets, relational databases and PowerPoint presentations is also important. You’ll need to be a strategic thinker with good presentation skills to succeed and an understanding of ERP systems and other relevant technologies is necessary. You’ll also need the ability to multitask and to manage your time properly if you want to become a financial analyst. While this position involves working with data, you’ll need to have good interpersonal capabilities. Communication skills enable you to share your insights with other team members and managers.
Now that you have a better understanding of the different aspects of becoming a financial analyst, you can start looking for vacancies on Job Mail. Don’t forget to set up alerts on Job Mail, so you can get notified when new job opportunities in the financial sector become available.