Financial Analysts research and analyzes the economic indicators, company’s current and past financial position, market trends, competitors’ analyses and then make recommendations to the client on how and where to make investments. They mainly work in banks, large corporations, stock brokerages, insurance companies and government agencies.
Nature of job
Financial Analysts use statistical softwares and spreadsheets to evaluate and analyse the data and then make reports to present their findings. They look at company’s sales data, costs break-up, product prices, tax and interest rates to make their evaluations. They also visit the management to make inferences about how effectively the company is being managed and what is the expected outlook.
Qualification requirements
The minimum qualification requirement is a college degree with major courses including business administration, mathematics, finance, accounting, economics and statistics. Having a CFA is also added advantage but not a necessary requirement to enter the industry.
Extra skills requirements
Financial analysts are expected to have sound computer skills, good knowledge of using spreadsheets and other accounting softwares to collate their information. They must also have good oral presentation skills and language proficiency.
Jobs outlook
Financial Analysts are required for all businesses and individuals to help make them better investments decisions. The employment and number of jobs for financial analysts are expected to grow in the coming future as the markets are picking up after recession. During recession, competition in this industry is much more fierce as people are more reluctant to make investments.
Remunerations
Average salaries for Financial Analysts are about USD62,000 per annum going up to more than USD100,000. Some senior analysts employed by large companies earn more than that.
