So, you’ve completed your BCom, and now you’re wondering what’s next? If you’re good with numbers and have a keen eye for analysing financial trends, then a career as a financial analyst might be perfect for you.
But what does a financial analyst actually do? How do you get started in this field? That’s exactly what we’re going to cover in this guide.
Before we dive deeper, if you’re serious about this career path, you should consider enrolling in the CFA course. It’s one of the best ways to strengthen your skills and land high-paying roles in finance.
Now, let’s explore your career options!
What Does a Financial Analyst Do?
A financial analyst plays a crucial role in helping businesses and investors make informed financial decisions. This job isn’t just about crunching numbers, it’s about understanding trends, evaluating risks, and providing valuable insights to drive profitability.
Key Responsibilities:
- Analysing financial statements and market trends
- Assessing risks and investment opportunities
- Preparing financial reports and forecasts
- Assisting in business decision-making
- Working with management to develop financial strategies
A good financial analyst helps companies make smart financial moves that boost growth and reduce risks.
How to Build a Career in Financial Analyst Roles After BCom
If you’re planning to enter a career in financial roles, here’s a step-by-step guide to help you get started:
1. Gain the Right Education
A BCom degree gives you a strong foundation in accounting, finance, and economics. But to stand out, you might need additional qualifications.
Some of the top certifications that can boost your profile include:
- Chartered Financial Analyst (CFA)
- Financial Risk Manager (FRM)
- Certified Public Accountant (CPA)
2. Develop Financial Analyst Skills
To become a successful financial analyst, you need a mix of technical and analytical skills.
Some key skills include:
- Financial modelling & valuation
- Excel & data analysis
- Risk assessment
- Investment research
- Problem-solving abilities
3. Get Hands-on Experience
Practical experience is crucial. Consider:
- Internships at investment firms or banks
- Working with a financial consultant
- Handling real-world financial projects
4. Build a Strong Network
Networking is key in finance. Attend industry seminars, connect with professionals on LinkedIn, and seek mentorship from experienced analysts.
5. Apply for Financial Analyst Jobs
Once you have the right skills and experience, start applying for financial analyst jobs in banks, investment firms, and corporate finance departments.
Types of Financial Analyst Jobs
There are different types of roles within financial analysis. Let’s explore a few key ones:
1. Investment Analyst
- Researches stocks, bonds, and other investment opportunities.
- Works in asset management and investment firms.
2. Risk Analyst
- Identifies and minimises financial risks in businesses.
- Works in banks, insurance companies, and hedge funds.
3. Credit Analyst
- Evaluates loan applications and assesses borrowers’ financial health.
- Works in banks and lending institutions.
4. Corporate Financial Analyst
- Manages a company’s financial planning and budgeting.
- Works in corporate finance teams.
Here’s a comparison table for different types of financial analyst jobs:
| Job Role | Key Responsibilities |
| Investment Analyst | Analysing stocks, bonds, and investments |
| Risk Analyst | Identifying financial risks and mitigation strategies |
| Credit Analyst | Assessing loan applications and creditworthiness |
| Corporate Financial Analyst | Budgeting, forecasting, and financial strategy |
Financial Analyst Salary and Career Growth
Financial analysts enjoy good career growth opportunities. Although a financial analyst salary can vary based on experience, industry, and location, let’s look at a general career progression:
| Experience Level | Job Title | Potential Salary Range |
| Entry-Level (0-2 yrs) | Junior Financial Analyst | Competitive Market Salary |
| Mid-Level (3-7 yrs) | Senior Financial Analyst | Competitive Market Salary |
| Senior-Level (8+ yrs) | Finance Manager / Director | High-End Salary |
For more details on salary expectations, refer to this Investopedia career guide.
Here are four additional sections you can include in your article:
Top Companies Hiring Financial Analysts
If you’re looking to land a job as a financial analyst, targeting top firms can give your career a strong start. Some of the leading companies that hire financial analysts include:
1. Investment Banks
2. Consulting Firms
3. Multinational Corporations (MNCs)
- Amazon
- Microsoft
4. Financial Services & Insurance Companies
Applying to these companies can significantly boost your career prospects in finance.
Certifications to Boost Your Financial Analyst Career
While a BCom degree is a great start, additional certifications can help you stand out. Here are some of the most recognised ones:
- CFA (Chartered Financial Analyst): Best for investment banking and asset management.
- FRM (Financial Risk Manager): Ideal for careers in risk management.
- CPA (Certified Public Accountant): Focuses on accounting and auditing roles.
- FMVA (Financial Modelling & Valuation Analyst): Great for mastering financial modelling.
These certifications can significantly enhance your job opportunities and earning potential.
Common Challenges Faced by Financial Analysts
A financial analyst’s job can be demanding. Here are some common challenges you may face:
1. Handling Large Data Sets
Analysing massive amounts of financial data requires strong Excel and data analytics skills.
2. Meeting Tight Deadlines
Financial reporting and investment decisions often have strict timelines. Time management is crucial.
3. Staying Updated on Market Trends
Financial markets change constantly. Analysts must stay updated with economic trends, company earnings, and geopolitical events.
4. High Pressure & Workload
The role of a financial analyst often involves long hours and high-pressure decision-making.
Overcoming these challenges requires strong analytical, problem-solving, and time-management skills.
Tools & Software Every Financial Analyst Should Know
Technology plays a crucial role in financial analysis. Here are some essential tools used in the industry:
- Microsoft Excel: Essential for financial modelling and data analysis.
- Bloomberg Terminal: Used for market research and trading analysis.
- Tableau & Power BI: Data visualisation tools for financial reporting.
- Python & R: Useful for quantitative analysis and automation.
Mastering these tools can give you an edge in your career as a financial analyst.
Conclusion
If you want a strong career in finance, becoming a financial analyst is a great choice. With the right skills, qualifications, and experience, you can land some of the best roles in the industry.
To fast-track your career, consider enrolling in the Chartered Financial Analyst (CFA) Certification Program. It’s one of the most respected certifications in finance and can significantly boost your job prospects.
FAQs
- What are the key financial analyst skills needed for success?
A strong financial analyst must have skills like financial modelling, data analysis, investment research, and risk assessment. - Can I start a career in financial analyst roles after BCom?
Yes! A BCom degree is a great starting point. Additional certifications like CFA can enhance your chances. - What are the different types of financial analyst jobs?
You can work as an investment analyst, risk analyst, credit analyst, or corporate financial analyst. - Do I need an MBA to become a financial analyst?
No, an MBA is not mandatory. A CFA or other finance certification is often enough. - Where can I find financial analyst jobs?
Check online job portals like LinkedIn, Indeed, and Glassdoor for opportunities. - What industries hire financial analysts?
Financial analysts are hired in banking, investment firms, insurance, corporate finance, and consulting. - Is CFA better than MBA for financial analysts?
It depends. CFA is more finance-focused, while an MBA covers broader business topics.
