People who find self-employment lucrative and want steady job growth often consider a career as a financial analyst. Currently, the pandemic is going parallel with a recession. But finance companies are thriving and are expected to continue in terms of growth. Thus, stability and growth are the two primary reasons why many students prefer completing a financial analyst course and pursue this stream.
Role of a financial analyst
If you become a financial analyst, you have to create financial models to predict the outcome of potential business decisions. It takes years of learning and experience to excel in this career. You will have to go through large amounts of data and make an analysis based on it. You also have to study market trends to understand what works best for the company you work for.
It is also essential to understand that where you work or who you work for will also determine your job role. For example, if you work at an investment bank, your work will involve assisting with mergers and cracking deals.
Overall, you will play a significant part in decision making for businesses, individuals, and your goal will be helping people grow financially.
Reasons to become a financial analyst
Here are the top reasons why becoming an analyst is a smart career choice:
The year 2020 has taught us how stability is important. Millions of people have been forced to change their way of working to survive at this time. Such circumstances make us consider choosing career paths that will never go out of requirement.
Offering financial services is one of the stable career options as you will never go out of business. Bureau of Labor Statistics suggests that the role of financial analysts is estimated to grow by 23%, while finance advising by 30%.
- Possibilities of growth
As a finance student, you have a lot of scopes to grow. Of course, completing a financial analyst course will help you target only one section of the financial service industry. However, you can also become an accountant, internal auditor, and more.
Employment opportunities in finance are unlimited irrespective of your interests and prefered environment to work. Having a wide array to choose from lets you make decisions than settle for anything less than what you deserve.
You can also take an interest in investment banking, asset management, client servicing, sales, trading, and more. The career path in the finance sector is enormous, and having a complete idea will always help.
Many like to gain experience in different jobs to know how each of them works. Thus, you can associate with brokerage firms, private banks, insurance companies, and more, to widen your horizon.
- Interesting job profile
Most finance students take an interest in the services offered by an analyst. At a basic level, you will start your job by knowing the proficient use of spreadsheets, PowerPoint, databases, and more software. The job slowly escalates to a point where you will put long hours into developing interpersonal relationships with seniors. At the same time, you will also be responsible for guiding junior analysts.
If you want to work in the finance sector where you have to use communication and people skills equally, then this is perfect for you. From curating credible presentations to being orally convincing, you have to do it all.
- Potential to earn well
No matter how passionate we are about a specific job, money is always a driving force. It is essential to weigh your options in the financial sector to understand what is most lucrative. The position of a financial specialist can indeed fetch massive numbers with experience. Analysts are one of the highest-paid jobs. Moreover, changing market conditions and advancement in technology keeps your job in demand at all times.