{"id":240549,"date":"2020-01-24T12:34:20","date_gmt":"2020-01-24T12:34:20","guid":{"rendered":"https:\/\/imarticus.org\/?p=240549"},"modified":"2024-07-26T12:10:46","modified_gmt":"2024-07-26T12:10:46","slug":"what-is-the-future-of-financial-analysts-in-india","status":"publish","type":"post","link":"https:\/\/imarticus.org\/blog\/what-is-the-future-of-financial-analysts-in-india\/","title":{"rendered":"What is the Future of Financial Analysts in India"},"content":{"rendered":"

The role of a financial analyst is one of the most sought-after positions in the financial services industry. This is due to the fact that analysts have a scope to work in a range of industries together with high earning potential. An analyst plays a critical role in any business that he or she is representing on behalf of their firm.<\/p>\n

In general, financial analysts work for KPOs, banks, investment firms, investment banks, insurance companies and even individual companies. A good analyst should be able to evaluate the company\u2019s overall position in the industry in terms of its strengths, performance, prospects compared to its competitors. This involves an in-depth understanding of the company\u2019s investments, finances, growth plans, etc.<\/p>\n

Educational Qualification Required<\/strong><\/p>\n

To fit into the role of a financial analyst should have at least a bachelor's degree, preferably with any of the finance subjects like accounting, economics or statistics as the major. In case the analysts want to equip themselves for better job opportunities and salaries they might consider pursuing a master's degree in finance or a Master's of Business Administration (MBA). Any kind of advanced education increases the value of these professionals in the eyes of their potential employers.<\/p>\n

In some cases, it has been noticed that employers prefer hiring only those financial analysts who have done their certifications from the Chartered Financial Analyst Institute.<\/a> They can also enrol into several programs designed to prepare these financial analysts for the challenges they might face in the workplace.<\/p>\n

Skills Required for the Role<\/strong><\/p>\n

Some of the specific skills required for this position are:
\n\u2022 Excellent analytical skills
\n\u2022 Good mental judgement
\n\u2022 Sound knowledge
\n\u2022 A good team player<\/p>\n

Role and Responsibilities of Financial Analyst<\/strong><\/h2>\n

A financial analyst\u2019s role usually differs depending on company to company. These analysts usually focus on a specific region, sector or type of product.<\/p>\n

\u2022 They determine the cost of operations by gathering the operational data
\n\u2022 Comes up with a financial status by comparing and analysing the actual results with the forecasts
\n\u2022 Guides the process of cost analysis by creating and enforcing policies and procedures, explaining the process and techniques and recommending actions to the management
\n\u2022 Improves the financial status by identifying trends, monitoring variances and reconciling the transactions by correcting the data
\n\u2022 Increases the company\u2019s productivity by developing automated accounting applications
\n\u2022 Maintains the company\u2019s database
\n\u2022 Attends educational workshops to upgrade themselves
\n\u2022 Protects the operations by keeping financial information confidential<\/p>\n

The Future of Financial Analysts in India<\/strong><\/h2>\n

Today, the role of a financial analyst is considered one of the premier careers even in India. Reports says, there are over 7,000 financial analysts\u2019 jobs available only in India. Once they attain the desired qualification they have the scope to work with financial institutions, multinational banks, Reserve Bank of India, Industrial & Development Bank of India, Unit Trust of India, finance and leasing companies, stockbroking firms, insurance companies, public sector organizations e.g. Railways, corporate sector and consultancies.<\/p>\n

The Average Salary of a Financial Analyst in India<\/strong>
\nIn India, at the entry-level financial analysts having less than a year\u2019s experience can expect to earn an average salary<\/a> of \u20b9313,149 per annum. With 5 to 9 years of experience, the compensation can go up to \u20b9574,432 per annum. With 10 to19 years of experience, one can expect around \u20b9981,857 per annum.<\/p>\n

In the later part of the career, with 20 years of experience and more, employees can earn an average compensation of \u20b91,502,000 per annum. For more details, one can check the website www.payscale.com.<\/p>\n

Conclusion<\/strong>
\nA career as a financial analyst not only offers financial security but also gives an exciting opportunity to be a part of the country\u2019s finance industry. Considering the rising scope of this career in India, one can obtain the essential education required and gear up for a lucrative job opportunity<\/p>\n

Also Read: What is Financial Analyst Course<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

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