Decoding the Story Behind Numbers
The Global wave of Entrepreneurship & Investments in the current decade has brought forth a new set of emerging opportunities in the field of Marketing, Resource Management, Import-Export, etc. Well amongst these evolutionary Segments, a career in Financial Segment is considered a top-notch & secure option. One of the most sought-after & marketable careers is that of a Financial Analyst.
WHAT DOES A FINANCIAL ANALYST DO?
A Financial Analyst is responsible for a series of activities related to the Data Analysis, Evaluations, Projections & Recommendations for a Business Structure, Strategies, or Investment Plans. Here’s how we can elaborately explain the responsibilities of a Financial Analyst
Assembling Information & Compiling the Data
The Work of a Financial Analyst starts with the basic gathering of Data & Information from various sources like statistical data, reports, research, etc.
Structuring the Data
The procured data is then structured using database applications like Excel & further processed & formatted through tools & formulas for better comprehension.
Studying & Analyzing the Data
The Financial Analyst studies the Data Trends and compares them against other companies and evaluates the shortcomings.
Making Analysis Models, Presentations & Reports
Any Financial Analyst personnel is expected to make Excel Models, Presentations & Reports following his analysis & comprehension.
Once the Data has been analyzed, it has to be interpreted & utilized in projecting Business Forecasts about the Future Performance of a Company or Strategy.
One of the most important jobs of the Financial Analyst is to provide recommendations based upon his studies, reports & forecasts. This helps the Businesses in taking the key Financial Decisions.
WHAT ARE THE OPPORTUNITIES AS A FINANCIAL ANALYST?
According to Forbes, it is estimated that the growing demand for Financial Analysts will outpace the demand for professionals in many other segments by 2026. This indicates the sharp demand for Financial Analysts.
As a Financial Analyst Professional, you can get Opportunities to Work under the mentioned segments
- Investment Firms
- Corporates & Business Houses
- Insurance Companies
- Government Services
- Financial Advising Firms
WHAT ARE THE SKILLS REQUIRED TO BE A FINANCIAL ANALYST?
If you are someone aspiring to be a professional Financial Analyst, you are expected to have a certain skill set that can ensure standard quality of service. Here are a few skills that most employers look for during such recruitment
- Critical Thinking Skills to evaluate the data & situations logically.
- Analytical Skills to analyze the Data & give recommendations.
- Decision-making Skills to take corrective actions at the right time.
- Math Skills to comprehend the information hidden within the numbers.
- Research Skills to acquire & gather Data from various resources.
- Software Skills to prepare models, presentations & reports of the data.
- Interpersonal Skills to effectively present the analysis & recommendations.
HOW CAN YOU START YOUR CAREER AS A FINANCIAL ANALYST?
A lack of awareness in the Career Path has often been observed amongst aspiring individuals. Here’s a quick guide that can help you start & flow in your Career as a Financial Analyst
- Go for a Bachelor’s Degree: Once you have cleared your 12th get a Bachelor’s Degree preferably in Fields like Economics, Maths, Finance or Accounts. However, even if you go for the normal Bachelor’s course, you are still eligible.
- Get an Additional Certification: Pursue additional Certification courses like Chartered Financial Analyst (CFA) from the CFA Institute that can impact your credibility. This can significantly increase your Employability.
- Get some Experience: Along with the degree & credentials, employers often prefer candidates with working experience in a Financial space. Starting your professional career as early as possible can be advantageous in many ways.
- Opt for a Master’s Degree: You may consider getting a Master’s Education like an MBA in Finance or Masters in Accounting or Economics to improve your Credit and stand a par above others in the Job Market.
The Financial Sector is the most Blooming segment of the World Economy. The demand for efficient professionals is constantly rising & will continue to rise along with the growing Businesses & Investments.