Career Path After Financial Analyst
Having a career as a financial analyst is a very rewarding career that many people choose. However, not everyone is sure of how to get there. This article aims to give you some tips on how to succeed in your job as a financial analyst.
Research analyst
Whether you're interested in finance or not, there are a variety of jobs in the field of research analysis. As an analyst, you'll be responsible for analyzing data, interpreting it, and presenting the findings. You'll also have the opportunity to expand your network and develop skills.
If you're looking for a career in financial analysis, you'll need a Bachelor's or Master's degree. You'll also need professional certifications. For example, you can get certified as a Chartered Financial Analyst (CFA).
Having a background in math and statistics can help you land a job as a research analyst. You'll have the ability to work in just about any industry, although it's most common to find these jobs in the banking and insurance industries. You'll also be able to use a number of different software programs to analyze data.
Many analysts obtain formal training from a university. You'll also want to pursue continuing education. You'll need to stay abreast of changes in the business environment and regulations. You'll also need to know how new political circumstances will affect investments.
When you're first starting out, you'll likely be an entry-level research associate. These individuals do a number of monotonous tasks, such as updating industry models and updating the marketing materials of senior analysts. You'll eventually be assigned to a working group. Once you've completed several years of work as an associate, you'll be promoted to an analyst position.
FP&A analyst
Whether you have experience in finance or are just getting started, your career path after financial analyst will be determined by your company and your skills. If you are pursuing a career in finance, you should have a working knowledge of mathematics, statistics, and economics. This will give you an edge over other applicants.
Many companies prefer candidates with at least some background in finance. You will need to take financial analysis courses and acquire certifications. You will also need to stay current on industry regulations. You can also take advantage of internships and mentor programs. These can help you develop the skills and experience you need to succeed.
Some of the best financial analysts move up to fund managers and even become CEOs. You can also find careers in other fields, such as tax and accounting. A master's degree in a related field can also boost your prospects.
A bachelor's degree in a relevant field, such as mathematics or economics, is often a good choice for those who want to get into finance. It will give you a solid foundation in subjects that will give you an edge in your job.
You may also need an occupational license, depending on the type of position you are looking for. For example, you will need a securities license if you work in a business that sells investments. This license will give you the ability to buy and sell securities on exchanges. You will need to take examinations from the Financial Industry Regulatory Authority (FINRA).
Getting a bachelor's degree isn't enough to secure a job as a financial analyst. You will need to be able to decipher financial statements, calculate data, and communicate with clients.
Finance manager
Depending on where you work, you could find yourself doing anything from analyzing financial data to developing portfolios of assets for individual investors. It's also not uncommon for you to have to interact with your colleagues, clients and members of the media. Some companies even let you present your findings to the masses.
A career as a financial analyst can be rewarding and interesting, but it's a competitive industry. In fact, the US Bureau of Labor Statistics projects that there will be a 12% increase in jobs for the position between 2014 and 2024. And while salaries aren't exactly booming, you can expect to make a solid chunk of change.
Getting a job as a financial analyst requires a bachelor's degree and some financial savvy. But there are several options for those looking to get their start. Some states like Illinois boast huge financial districts while others like Texas offer less glamorous perks. Aside from salary, you may be able to get a promotion or two. A graduate degree can also open the door to more lucrative opportunities, if you're willing to put in the time and effort.
Be sure to stay abreast of industry regulations as well. It's also smart to take a few data courses if you can.