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Financial Analyst

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What Is a Financial Analyst? How to Become One, Salary, Skills.

Financial analysts use data analytics to review financial performance and suggest expense decisions for a business. Here’s what to know about a financial analyst’s salary, needed skills and how to become one.

 

What Is a Financial Analyst?

Financial analysts conduct financial analysis to guide a company’s investment strategies and evaluate financial outcomes. They often keep up-to-date on current market and economic trends and may inform companies when to buy and sell investments.

 

What Do Financial Analysts Do?

Financial analysts review financial reports, identify investment opportunities and forecast potential financial trends for a company. 

Financial Analyst Responsibilities

  • Collect and organize financial data for analysis.
  • Analyze and assess finances in comparison to industry standards.
  • Develop financial forecasting models to assist in planning and budgeting.
  • Create reports and present on investment recommendations. 

Day-to-Day Responsibilities of Financial Analysts

  • Pull data from historical financial reports, stock information and accounting records.
  • Analyze metrics like return on assets, return on equity and year-over-year growth rates. 
  • Make spreadsheets and models in Microsoft Excel or Google Sheets.
  • Conduct forecasting with regression analysis and other statistical methods.

Financial Analysts Within a Company

Financial analysts tend to be part of a finance team within a company. They may report to a senior financial analyst or finance manager.

Importance of Financial Analysts

Financial analysts can spark decisions that affect the budgeting of different departments and a company as a whole. Their work largely helps to minimize business risk and prepare ahead for uncertain market environments.

Remote Day in the Life of a Financial Analyst in Big Tech. | Video: AhBoy in USA

 

What Skills Are Needed to Be a Financial Analyst?

Qualifications to Be a Financial Analyst

  • Internship or applicable experience in financial analysis, operational analysis or similar roles.
  • Ability to analyze and draw insights from quantitative data.
  • Ability to use tools to model and manipulate financial data.
  • Proficiency in Microsoft Excel and statistical analysis methods.

Financial Analyst Prerequisites

  • Bachelor’s degree in finance, economics, statistics or related field.

Financial Analyst Hard Skills

  • Expertise in financial modeling and management software.
  • Experience with data analysis tools and techniques.
  • Familiarity with business valuation methods.
  • Accounting and financial literacy skills.
  • Knowledge of programming languages and relational databases.

Financial Analyst Soft Skills

  • Analytical skills.
  • Critical thinking skills.
  • Problem-solving skills.
  • Verbal and written communication skills.

Tools and Programs Financial Analysts Use

  • Bloomberg Terminal 
  • Google Sheets
  • Microsoft 365 
  • Microsoft Excel 
  • Microsoft Power BI
  • Oracle Financials 
  • Python 
  • QuickBooks
  • R
  • SAP
  • SQL
  • Tableau
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How to Become a Financial Analyst

Financial Analyst Education and Experience

Financial analysts often earn a bachelor’s degree in finance, economics, statistics or a similar field.

Financial analysts will also need to obtain an internship or applicable experience in financial analysis, operational analysis or similar roles. Knowledge in data analysis, financial modeling and forecasting, business valuation, accounting and spreadsheet tools like Microsoft Excel are recommended.

Financial Analyst Certificates and Courses

Financial Analyst Career Path

After experience as a financial analyst, professionals can move into a senior financial analyst role. From here, professionals may progress into management roles like finance manager, director of finance and eventually chief financial officer.

 

Financial Analyst Salary and Job Outlook

Financial analysts are in demand, as jobs for the role are expected to grow 9 percent by 2031.

The full compensation package for a financial analyst depends on a variety of factors, including but not limited to the candidate’s experience and geographic location. See below for detailed information on the average financial analyst salary.

Courses

Expand Your Financial Analyst Career Opportunities

Improve your daily performance by honing your finance skills through Udemy’s online courses.

Udemy

Learn all the tips, tricks, shortcuts, functions and formulas you need to be an Excel power user.  This course is designed specifically for Excel users who are performing professional financial analysis and financial modeling. We cover all levels…

Udemy

#1 Best Selling Investing Course on Udemy! Welcome to The COMPLETE Financial Analyst Training and Investing Course by the author of the best selling business course on Udemy, an award winning professor, Columbia MBA graduate, former…

Udemy

You simply need to find a way to acquire practical skills that will give you an edge over the other candidates.

But how can you do that?

You need the proper training, and you have never seen how…

Udemy

This course will discusses weighted average cost of capital, debt, and equity financing from a corporate finance perspective.

We will include many example problems, both in the format of presentations and Excel worksheet problems. The…

Certifications

Financial Analyst Certifications + Programs

Whether you have coded before or are brand new to the world of programming, this course will put you on the fast track to building confidence with this intuitive, object- oriented language. Learn programming fundamentals and build a custom application. Graduate with the ability to start applying Python within high-growth fields like analytics, data science, and web development. 

 

What you'll accomplish

This is a beginner-friendly program with no prerequisites, although some students may have coded previously. First-time programmers will have access to pre-course preparatory lessons and additional resources to boost their confidence with key concepts and set up their development environments. Throughout this expert-designed program, you’ll:

  • Learn object-oriented programming fundamentals and Python basics that get you coding from day one.
  • Build a Python program and add on increased complexity throughout the course.
  • Troubleshoot Python code and practice common debugging techniques.
  • Push your skills to the next level by adding scripting, modules, and APIs to your Python toolkit.
  • Explore introductory data science and web development as potential career directions for Python programmers.
  • Demonstrate your Python skills by creating apps that pull in data with Pandas or integrate functionality from APIs with Flask.

 

Why General Assembly

Since 2011, General Assembly has graduated more than 40,000 students worldwide from the full time & part time courses. During the 2020 hiring shutdown, GA's students, instructors, and career coaches never lost focus, and the KPMG-validated numbers in their Outcomes report reflect it. *For students who graduated in 2020 — the peak of the pandemic — 74.4% of those who participated in GA's full-time Career Services program landed jobs within six months of graduation. General Assembly is proud of their grads + teams' relentless dedication and to see those numbers rising. Download the report here.

 

Your next step? Submit an application to talk to the General Assembly Admissions team


 

Note: reviews are referenced from Career Karma - https://careerkarma.com/schools/general-assembly

 

General Assembly

General Assembly’s Data Analytics Immersive is designed for you to harness Excel, SQL, and Tableau to tell compelling stories with a data driven strategy. This program was created for analysts, digital marketers, sales managers, product managers, and data novices looking to learn the essentials of data analysis. 

 

What you'll accomplish

You will learn to use industry tools, Excel, and SQL to analyze large real world data sets and create data dashboards and visualizations to share your findings. The Data Analytics Accelerator culminates in a.

Throughout this expert-designed program, you’ll:

  • Use Excel, SQL, and Tableau to collect, clean, and analyze large data sets.
  • Present data-driven insights to key stakeholders using data visualization and dashboards.
  • Tell compelling stories with your data.
  • Graduate with a professional portfolio of projects that includes a capstone project applying rigorous data analysis techniques to solve a real-world problem

 

Why General Assembly

Since 2011, General Assembly has graduated more than 40,000 students worldwide from the full time & part time courses. During the 2020 hiring shutdown, GA's students, instructors, and career coaches never lost focus, and the KPMG-validated numbers in their Outcomes report reflect it. *For students who graduated in 2020 — the peak of the pandemic — 74.4% of those who participated in GA's full-time Career Services program landed jobs within six months of graduation. General Assembly is proud of their grads + teams' relentless dedication and to see those numbers rising. Download the report here.

 

Your next step? Submit an application to talk to the General Assembly Admissions team


 

Note: reviews are referenced from Career Karma - https://careerkarma.com/schools/general-assembly

 

General Assembly
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