subject: Understanding the Career Requirements of a Financial Analyst [print this page] Understanding the Career Requirements of a Financial Analyst
Do you know where to go if you need ideas in investment? When it comes to investments, there is no better place for getting ideas than the financial analyst's office. A financial analyst's job involves analyzing financial information towards the purpose of better investments.
A good knowledge about analytical aspects, decent communication skills and a positive attitude will help a financial analyst not only with learning, but growing in the long run. It is often said that career choices and profiles match when you prepare well, so you need to learn more about commerce (stocks and investment) related fields if you want to excel as a financial analyst. Another key aspect of being a financial analyst is the ability to make quick and effective decisions which will come with experience.
Apart from the investment point of view, risk, tax, security, budget and credit analysis is done by investment analysts. Checking balance sheets and auditing financial statements are some key roles of a financial analyst.
Most financial analysts have a commerce/finance background like bachelors in commerce or master's in finance, but equally qualified people from other streams have made it big in this field. Any bachelor's degree with a brief knowledge in fields of finance, computers, accounting and statistics would help you greatly. Once you work as a financial analyst for a considerable time, you can apply for some certification courses.
Career ScopeBanks, stock brokerage firms and insurance companies are some places where the services of financial analysts are in great demand. Apart from these ventures, a major chunk of investment analysts work in financial corporations. Teaching has a limited scope but colleges and institutes hire successful financial analysts for short term certification courses.
Apart from the monthly remuneration, many financial analysts work on commission basis (commission from the firm or from the client profit). The job profile of a financial analyst is quite stressful at times, but people with a clear vision can handle the pressure easily.
Lastly, considering the nature of work, a financial analyst can be also called as a securities analyst, equity analyst or even a research analyst.
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