As businesses grow and expand, the need for skilled professionals to analyze the finances of an organization and suggest ways to increase profits and revenue continues to increase too. These skilled professionals are financial analysts, who enjoy a consistent demand in nearly every industry.
With a growth in their demand is a proportionate increase in the demand for a financial analysis course that enables students to equip themselves with the necessary skills required for this profession. This blog details the role of a financial analyst and how to become one.
Role Of A Financial Analyst
Also known as investment analysts or securities analysts, financial analysts are responsible for gathering, overseeing, and assessing financial data to make predictions relevant to the respective industry. They are therefore in high demand by several organizations in varied sectors and industries, some of which include:
- Investment advisory companies
- Banks
- Government regulatory organizations
- Financial planning firms
- Insurance firms
- Portfolio management companies
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Here are the simple steps to become a financial analyst in India:
- ### Get a Bachelor’s
Earning a financial analyst degree is the first step to start your career as a financial analyst. Some of the common degree options include statistics, economics, or other related domains. Most students prefer a Bachelor of Science (BSc) in Finance.
- ### Obtain the required license
After completing your formal education in the domain, the next step is to secure the desired license and certifications in the area. Obtaining the license is a key step to practice as a financial analyst. The Financial Industry Regulatory Authority (FINRA) requires financial analysts under its purview to be licensed by the authoritative body.
- ### Gain hands-on experience
This is essential to practically apply the skills learned during the degree program to real-world work environments. As professionals gain more work experience, they find it easier to climb up the corporate ladder.
- ### Pursue a Master’s (optional)
Some students may choose to pursue an advanced degree in financial analysis to expand their knowledge base and skill set. These further help to progress on their respective career paths and unlock better job opportunities and higher salaries. Both students and working financial analysts may choose to pursue a Master of Science (MSc) in Accounting.
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Skills Needed For Financial Analysts
Some of the top skills in demand for the profession are listed as follows:
- Research information and facts to derive valued insights and arrive at logical conclusions
- Critical thinking and judgment based on logical reasoning
- Effective interpersonal communication skills
- Efficient time management
- Analysis of systems and examining structures to determine how they can be improved
Financial Analyst Average Annual Salary
Students graduating and becoming financial analysts are eligible to apply for high-paying job roles in the relevant industries and sectors. While the actual salary range is bound to vary from one professional to another and based on their respective location, in an organization working for qualifications, and experience, the average annual salary that a financial analyst is expected to draw in India is estimated at Rs 6.1 lakh per annum.
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Become A Financial Analyst Online
If you think that this career path is for you, then delay no further and get on the path by pursuing an online degree program in Bachelor in Finance or BSc in Finance from Amity University Online. You can also choose to advance your studies with a Master’s degree or even opt for short-term online certification courses in the domain from Amity. The university offers ample scope for professional networking and practical learning opportunities to students to test their skills and build a work portfolio that enables them to advance to higher career roles.
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Financial analysis is a career option chosen by individuals with a keen interest in finance. They play a crucial role in the smooth functioning of an organization as well as overseeing and maintaining its financial health. This is why they are in high demand by both individuals and organizations, offering recommendations for suitable investment opportunities and planning their finances in a better way.
This is also the reason that the career is lucrative and highly rewarding for professionals, opening new growth avenues and better pay packages for financial analysts. If you’re keen on pursuing financial analysis as your career path, pursue an online degree in the domain from Amity University Online and get started.
