How to Become a Financial Analyst
Do you want to have a lucrative career in the finance industry? If so, becoming a financial analyst may be the perfect choice for you! Not only will you have high earning potential in this career, but the demand for financial professionals is expected to grow by 6% in the coming years.
If this sounds like a potential career path for you, read more to discover what financial analysts do and how you can become a financial analyst.
What Does a Financial Analyst Do?
Financial analysts are responsible for analyzing financial data and making recommendations to their clients or employers. They play a critical role in helping businesses make sound financial decisions.
Most financial analysts work in the financial services industry. They may also work for accounting firms, investment banks, and insurance companies. Some financial analysts are self-employed and work as consultants.
What Are the Skills Needed to Become a Financial Analyst?
In order to be successful in this field, financial analysts must have strong analytical and problem-solving skills. They must also be able to use financial software programs to analyze data and create reports. And because they often present their findings and recommendations to clients and colleagues, financial analysts need to have excellent communication skills.
Education Needed to Become a Financial Analyst
Most financial analysts have at least a bachelor’s degree in finance, accounting, economics, or business. Many financial analysts also have a master’s degree in business administration (MBA) or a master’s degree in financial analysis.
What is the Typical Salary for a Financial Analyst?
The median annual salary for financial analysts was $85,660 in May 2019. The top ten percent of financial analysts earned more than $145,620. The bottom ten percent of financial analysts earned less than $49,380. High earners in this field typically have an advanced degree such as an MBA in finance.
How to Become a Financial Analyst
If you are interested in becoming a financial analyst, there are a few steps you can take to get started.
Step One: Earn a Bachelor’s Degree
The first step to becoming a financial analyst is to earn a bachelor’s degree in finance, accounting, economics, or business.
Step Two: Get an Internship
If you want to have a career in finance, getting an internship is a great way to start. You can learn about the different financial analyst roles and decide which one is right for you.
Step Three: Earn a Master’s Degree
Many financial analysts also have a master’s degree in business administration (MBA) or a master’s degree in financial analysis.
Step Four: Become a Certified Financial Analyst
The final step is to become a certified financial analyst. To become a certified financial analyst, you must pass the Financial Analyst Certification Exam.
Step Five: Work with an Accounting & Finance Recruiter
A recruiter can be an immensely valuable asset when looking for a financial analyst opportunity. As you look for a recruiter to partner with for your job search, make sure to find a recruiting firm that specializes in the finance and accounting fields, such as Burchard & Associates.
Interested in Financial Analyst Jobs?
Contact Burchard & Associates. We work with some of the top employers in St. Louis and beyond, connecting them with finance professionals to fill their open positions. Check out our available opportunities or contact us today to learn more about how we can help you with your job search.