Career Goal Of A Financial Analyst
Who is a Financial Analyst?
A Financial Analyst is a person who suggests financial plans, projections regarding investing and selling, analytical reports before any decisions by companies, public and private organizations, and individuals.
They cull data to help companies make business decisions or investors take action, such as buying or selling a stock or other security. It’s more like a helping hand for the company or the organization. The essential part is that Financial Analysts has a higher level of expertise in financial management and financial analysis for progress and success.
It is vital to understand that an analyst doesn’t have to be content with your current position, salary, and responsibilities. By making career aims and taking action to reach them, you can advance your career in compensation and status within the company. Financial analysis involves using financial data to assess a company’s performance and make recommendations about improving for future perspectives.
They weigh microeconomics and macroeconomics issues and tactics of a company’s fundamentals to make predictions about firms, companies of different sectors.
How to become a Financial Analyst?
An individual should have done graduation with Mathematics or a degree in Business Administration, Accounting, Finance, or Statistics. These are plus points in getting a job in financial organizations. Strong subject knowledge of Statistics, Business, Economics, Administration, and Accounting enhances an individual’s growth potential.
It also requires high proficiency in financial modelling techniques and strong influence with excel formulas and expertise, and a warm personality of good business acumen. Candidates can also apply for a CA course to become a FA for a senior post. An aptitude for numbers and finance help candidates grow further in a career as a Financial Analyst. Though it also depends upon the inclination.
Is Financial Analyst right for me?
Yes, because financial analysis as a career option can be an excellent decision for those who are good at accounts and have an inclination for the finance side of any organization. It helps to determine a company’s present value and future business abilities.
Duties of a Financial Analyst
The primary duties of the Financial Analyst revolve around analyzing financial information regarding how the business will go in the future. It is crucial to understand how all the functional areas of the company work, not just finance. It will give a broader view of doing business. One needs to gain supervisory experience for advancement in the career.
Roles of a Financial Analyst
Today, the role of a Financial Analyst has considered one of the premier careers even in India. They have ample job opportunities within insurance companies, banks, securities firms, pensions, mutual funds, etc.
Financial Analysts’ fundamental role is to assist customers in the investment process for a company or organization. Still, they can even start up their own office, operate independently, and develop a sound customer base.
Cost accountancy is another job title where they can apply for broader field experience. Many FAs are hired to do special company work or investigate new shares, purchase or sell or finance a business, etc.
An advanced Financial Analyst position requires an MBA degree or a master’s degree in finance for better opportunities. Depending upon the abilities, international career for FAs gets open, many famous banks and organizations hire candidates from various parts of the world.
Other opportunities for a Financial Analyst
The mutual funds‘ market is ever-expanding, and companies dealing with it require talented and trained Financial Analysts, so it is essential to acquire particular and advanced techniques.
Financial analysis is one of the most challenging jobs because the professional is always on his toes. It requires being well informed about various happenings in the national and domestic financial market. Attractive growth attracts youngsters to become FAs.
Another upcoming field for Financial Analysts is a career in media wherein they can put their views on the state of the market, company shares, effects of policy changes, etc.