The Many Benefits Of A Career As A Financial Analyst
When it comes to finance, there are a few career options that stand out. One such option is financial analyst. This career requires a degree in finance and plenty of experience working with numbers. Thankfully, the opportunities for financial analysts are plentiful. In this article, we will discuss some of the many potential career paths for those with a degree in finance and experience as a financial analyst!
What is a Financial Analyst?
A financial analyst is a professional who specializes in analyzing and evaluating financial data. Financial analysts can work in a variety of settings, including banks, insurance companies, accounting firms, and investment firms. [1]
In general, financial analysts are responsible for tracking and interpreting financial data, identifying trends, and making recommendations about investments and other financial decisions. Financial analysts play an important role in helping organizations make sound financial decisions. As such, they are often in high demand and enjoy careers that are both challenging and financially rewarding.
Educational Requirements for A Career As A Financial Analyst
There are many finance-related degrees that can lead to a job as a finance analyst. A bachelor’s degree in finance, accounting, or economics is often required for entry-level positions. Many finance analysts also have a master’s degree in business administration (MBA) with a concentration in finance. Some finance analysts may also become certified public accountants (CPAs). [2]
The educational requirements for finance analysts vary depending on the employer, but most finance analysts have at least a bachelor’s degree in a finance-related field. With experience, finance analysts can advance to positions with more responsibility, such as financial managers. Doing so could lead to an exciting and rewarding career.
The good thing about studying finance and in particular with a focus on financial analysis is that the skills can apply to so many other careers. Let’s take a look at some other jobs that can be sought after with a background in financial analysis.
Benefits Of Working As A financial Analyst
There are many reasons why pursuing a career as a financial analyst can be beneficial:
1) Projected Job Growth: finance is a booming industry that is always in need of qualified professionals. As the world continues its push towards development and globalization, more and more financial analysts will be required to measure the impact and make the necessary adjustments.
2) Educational Barriers To Entry: working as a financial analyst often requires only an undergraduate degree in finance or a related field. This provides a solid barrier to entry that solidifies your job position for years to come.
3) Job Flexibility: Financial analysts have the opportunity to work in a variety of industries, allowing them to explore different areas of finance and find the perfect fit for their skillset. If you’re someone who continuously enjoys new challenges, then a finance career may be right up your alley.
4) High Salaries: financial analysts typically earn high salaries and have the potential to earn even more through bonuses and commissions. Entry salaries can be as high as 50,000$ with a median salary around 75,000$. As mentioned above, with experience and high ranking job title this figure can rise exponentially. [3]
5) Job satisfaction: working as a financial analyst can provide unparalleled job satisfaction. Helping people safeguard their hard-earned money and grow their assets is an extremely rewarding experience.
For all these reasons, working as a financial analyst is an excellent career choice for those interested in finance. If you are looking for a stable career with good pay, then getting a degree in finance may be the first step towards a long and fruitful career!
Conclusion
A finance degree can lead to a rewarding and challenging career in a variety of different settings. Financial analysts play an important role in helping organizations make sound financial decisions. If you are interested in finance, consider pursuing a degree in finance, accounting, or economics. Doing so could open up a world of opportunities for you!
References
1) “What Does a Financial Analyst Do?” Coursera ( 2022): https://www.coursera.org/articles/financial-analyst
2) “Becoming a Financial Analyst” Investopedia ( 2022) : https://www.investopedia.com/articles/financialcareers/06/financialanalyst.asp
3) “Financial Analyst Salaries “ Glassdoor (2022): https://www.glassdoor.ca/Salaries/us-financial-analyst-salary-SRCH_IL.0,2_IN1_KO3,20.htm