Financial Analyst
Why Is Financial Analysis a Job of Tomorrow?
In every industry, whether it is a non-profit organization, school, or healthcare facility, there is a business aspect that must be attended to in order to ensure efficiency. As
a result, these industries need employees with substantial expertise in business knowledge and skills. With some of the fastest growing industries in the country, the business sector is expected to grow by 23.3 percent by 2016, adding more than 4.1 million new jobs to the market, according to the Bureau of Labor Statistics. As businesses large and small continue to grow, financial analysts will be needed more than ever to advise organizations on the best investments to make. Business is becoming increasingly interconnected, especially with the rapid rate of globalization, making competent financial analysts a valuable asset. Employment opportunities for financial analysts are expected to increase 34 percent by 2016, a much faster rate than the national average, according to the Bureau of Labor Statistics. Financial analysts make an average salary of $66,590 annually.
What Does a Financial Analyst Do?
Financial analysts are responsible for overseeing the details of a company’s investments. They often research the performance and trends of companies and industries in which firms are interested in investing, ensuring that the investment choice is a sound one that is likely to see financial returns and gains. Analysts conduct their research by reading over the company’s financial statements, sales, costs, tax rates, and other aspects of the business to project how the company will likely be doing in the future. Depending on the interested investor’s intentions, analysts may look for companies that are experiencing steady growth or exponential growth, and warn their clients away from companies that are likely to experience decline. Analysts work either in buying or selling, with buyers researching potential companies for others to invest in, and sellers pitching companies for interested investors to consider. Analysts must have a good handle on technology as well, as they often use computer technology to keep track of investments and other financial data.
What Kind of Training Do I Need to Become a Financial Analyst?
Financial analysts must have a bachelor’s degree in finance or business administration, as well as frequently participate in seminars to keep up with the latest developments in the field. A bachelor’s degree takes four years to complete, and courses include accounting, budgeting, and other related topics. Licensure for financial analysts is typically obtained after employment, as many licenses require the consent of the employee’s employer.
