Financial analyst measures the financial needs of companies, individuals and provides analysis and guidance to help them with their investment decisions. The main purpose of a financial analyst is to find the ways to increase the company’s profitability by finding the gainful options for investment. Financial analysts work for individuals, banks, insurance companies, mutual and pension funds, securities firms, and other businesses, helping them to make their investment decisions.
If you want to join such a profession you have a bachelor’s degree in business administration, accounting, statistics, or finance. Your study program should include subjects such as statistics, economics, and business. Knowledge of accounting policies and procedures, corporate budgeting, and financial analysis methods are must.
Having a master degree in business administration adds more chances to getting job easily. Advanced courses in options pricing or bond valuation and knowledge of risk management also increase your job opportunities. Financial analysts may receive the Chartered Financial Analyst (CFA) designation, sponsored by the CFA Institute. To qualify for this designation, applicants need a bachelor’s degree and 3 years of work experience in a related field.
There are number of colleges and universities providing facility of these courses. Working for a broker-dealer is a good way to gain experience that can help you to pass the security license exams needed to practice financial planning. Mathematical, computer, analytical, and problem-solving and good communication skill are essential qualifications for financial analysts. To work as a financial analyst you should be self-confidant, mature and able to work independently.
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