Financial analysis is a rewarding & challenging career for people working in the financial services industry. A Financial Analyst typically conducts quantitative analyses of information affecting the investment programs of public or private organizations.
However, depending upon the level of experience & job role of a financial analyst, their day-to-day activities may differ. Moreover, the industry in which they are working may also influence their job responsibilities & pay.
Some common things that a financial analyst do include:
- Gather data & information
- Organize information
- Analyze financial results
- Make forecasts & projections
- Develop recommendations
- Build Excel models & make presentations
- Generate reports
Before jumping onto what a financial analyst does in a day, let's take a quick look at what a junior analyst's and senior analysts' job entails.
Junior Analyst (entry-level)
A financial analyst who has little to no professional experience is typically responsible for gathering data, financial modeling & creating or maintaining spreadsheets. This enables entry-level analysts to develop a fundamental understanding of the financial marketplace & environment.
A junior analyst may consider earning certifications or licenses such as (CFA) Chartered Financial Analyst certification to move up the ladder to a better-paying, higher-level job position.
Senior Analyst
A senior analyst typically has more & better professional experience & academic credentials. One can become a senior analyst only after developing their expertise in the field & pursuing continuing education. One of the main tasks of a senior analyst is developing relationships with companies & industry to build a strong contacts' network as well as representing their own firm in the industry.
A Day in the Life of Financial Analysts
A usual day in the life of a financial analyst looks like this:
Early morning
Early in the morning, they check the news, international trade & markets. If there are any relevant releases or developments concerning the market, then an analyst may need to "put out fires." This may include updating data & alerting administrators about the change.
Morning meetings & check-ins
Contact or meet their colleagues in person, present investment ideas (if any) and then meet clients or potential clients. Moreover, depending upon the time of the year, a financial analyst may need to plan projects, schedules & calendars around the ebb & flow of the market.
Mid-morning to afternoon (project & schedule updates)
A junior analyst may meet their senior analyst in their firm to go over their collected data & financial models. The senior analysts may meet with their superiors to go over a project or business model/strategy. They may also spend time contacting investors and other contacts in their network to grow the business.
Lunch
A junior analyst may make the most of this time by meeting their mentor and planning the "next move" in their career. However, a senior analyst may have lunch with industry contacts and use this time to build their network.
Reviewing the day
A lot can happen during the afternoon, which is why most financial analysts spend this time reviewing reports & releases to better plan their upcoming days. For example, a senior analyst typically reviews earning reports, whereas a junior analyst may review financial models & research notes for their own earnings releases. Then, later in the evening, the junior analysts meet their senior to go over the numbers for the following day's morning meetings.
A Rewarding Financial Analysts Career with Imarticus!
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An advanced degree with various specializations at Imarticus Learning will add credibility to your profile and position you as an efficient professional. Start your journey in the financial industry with Imarticus Learning and have a rewarding career!
