A financial analyst is answerable for the financial planning and analysis of a company, permitting the organization to make informed commercial choices. They have the capacity to decide the best utilization of assets to accomplish business goals.
Plus, they are relied upon to deliver customary reports utilizing financial data and work cooperatively across the whole finance team to dissect business performance and strategy.
Besides, Forbes indicated that by 2026, the developing need for financial analysts will outperform the requirement for professionals from other vocations. Considering this, it is wise to take up study programs or certification courses that can help develop necessary advanced business and financial analysis skills to be industry-ready. Read on to know how you can grow as a fitting choice in this domain…
Skills Required to be a Financial Analyst
The first step towards beginning a career as a financial analyst is getting a bachelor's degree in business administration or finance. Also, a master's degree in the same stream will help a lot in terms of professional capacity but it is not a strict requirement.
Signing up for online finance courses in accounting, business, and economics is the second step you need to take. Add as much knowledge to your reserve as you can to increase your employment prospects.
As far as soft skills are concerned, as a financial analyst, you need to have incredible correspondence and relational abilities and the capacity to explain and turn complicated data into concise and compact presentations.
Presently, a financial analytics certification is certainly not an absolute requirement but it will enhance your career prospects. The highest certification you can get is from a Chartered Financial Analyst (CFA) course. Directed by the CFA Institute in the United States, this is a 3- to 4-year-long program with a thorough financial analytics course syllabus.
The chartered financial analyst course involves three levels and each level includes a 6-hour exam. Aspiring financial analysts need to pass these three broad exams to get the CFA credentials. There is a particular weightage given to each subject at various levels of the course. Have a look at the same…
Level 1: Basic parts of the investment analysis are covered at this level. It involves a total 10 topics that will be covered utilizing investment tools.
Level 2: This stage teaches the application of investment tools and subjects that are centered around the valuation of various kinds of resources.
Level 3: In this level, importance is given to synthesizing the entirety of the concepts and logical strategies to get familiar with their applications for wealth planning and powerful portfolio management.
An aspiring analyst may also opt to get a financial analyst course certification from the American Academy of Financial Management. In India, courses for financial analysts and related certifications can be acquired from the Telangana-based Institute of Chartered Financial Analysts of India.
With business and financial markets developing and growing, employers are looking for individuals with the right qualifications to assist their ever-growing organizations with financial analysis.
In India, there is no licensing requirement as of date, however, a financial analyst certification is regularly suggested by employers to offer the chances for improvement and headway.