What do you need to become a financial analyst?May 24, 2019
One of the most coveted jobs that companies look for is financial analysts. They are sometimes misconstrued as working with bond or stock markets to help their higher employers make certain investments. A company can hire analysts for numerical data so that they can suggest better marketing techniques. Businesses which utilize a franchise model employ financial analysts to track and tackle franchises within a particular region.
It is the job of the analyst to understand what the strengths and weaknesses are and through it, make forecasts from a monetary perspective. If you’re someone looking to become a financial analyst, here are some of the necessary skills and education you need:
Education and skills:
Financial analysts need to have a structured qualification and there aren’t any minimums for the career-wise education. A Bachelor’s degree in statistics, economics or finance is a compulsory requirement and other majors that are favorable include math and accounting. Engineers too are preferred given their analytical way of thinking, which is a necessity in the world of financial analysis. If you’re smart enough to get a degree from a good Undergraduate college, you will have opportunities for great jobs right off college.
Getting an MBA degree is also an added advantage and these graduates are generally hired to work as senior analysts right after they’re done with college. A good career as a financial analyst requires you to have robust quantitative skills, logical skill in different situations, good problem-solving ability and communication skills that are above average. There is a lot of number crunching that needs to be done if you’re a financial analyst, as analysts have to report to their superiors and help them understand the data in a concise manner.
Different types of analysts:
There are many types of analysts in the world of finance and it is important that you understand the sector you wish to join. There are generally three categories within the field of analysts, including:
- Seller side
- Investment banks
- Buyer side
Analysts also work for regional and local banks, real estate brokers, insurance companies in addition to companies that depend on data. Data is one of the most important drivers of any company’s business and having good financial analysts helps them understand the business much better. A good financial analyst will predict risks well in advance and help companies save their money by preventing them from making rash financial decisions.
The different types of analysts required in the world of finance make this a lucrative option as it is a job that will never go out of fashion. Ensure you get a good qualification as this acts as a good marker regarding your ability as an analyst. Overall, financial analysts are promised a life of security and comfort in addition to working with some of the biggest companies in the world if they are extremely good at what they do. Imarticus allows you to get strong financial analyst courses and receive the financial analyst certification, so start right away!