The specific technical skills required of a Financial Analyst include:
- Financial analysis of financial models
- Financial planning
- Accounting
- Data analysis of past financial data
- Budgeting
- Strategic reporting
Soft skills a Financial Analyst may be required to have include:
- Project management
- Communication
- Problem-solving
- Teamwork
- Leadership
- Business administration
To be successful as a Financial Analyst, it is essential to have strong mathematical skills and the ability to understand complex financial data. It is also helpful to be well-organised and those with a background in investment banking are particularly favoured. Financial Analysts must be able to work independently and handle multiple tasks simultaneously.
Other skills required from a Financial Analyst may depend on a specific Financial Analyst job description.
What qualifications does a Financial Analyst need?
A bachelor's degree in business, accounting, economics, or finance is typically required to become a Financial Analyst. However, some companies may prefer or require candidates to have a master's degree. There are also certificate programs available that can prepare someone for a career as a Financial Analyst.
Do you need a CFA to be a Financial Analyst?
A CFA (Chartered Financial Analyst) certification is not typically required to become a Financial Analyst, but it can be helpful. The CFA certification is the most recognised certification in the financial industry and it shows that a candidate has a strong understanding of financial concepts and investment analysis.
It typically takes four to five years to complete all the necessary coursework and exams to become a CFA certified Financial Analyst. However, this varies depending on how much experience a person has in the finance industry and how quickly they can pass exams.
Which degree is best for a Financial Analyst career?
There are many different types of degrees that can prepare someone for a career as a Financial Analyst. The most common degree earned by Financial Analysts is a bachelor's degree in business, accounting, or finance.
Internships in related areas, which can be completed during the duration of a degree, may also help increase one's chances of starting a Financial Analyst career.
Can you become a Financial Analyst without a degree?
Yes, although typically, Financial Analyst jobs are only available for those who have completed an undergraduate program in accounting or finance. A degree of this calibre usually takes three to four years of full-time study.
However, experience is often also required before a candidate can be considered for a role as a Financial Analyst.
Having the right skill set is also an important factor in determining an individual's ability to become a Financial Analyst. As is proving you’re a continuous learner, which you can start today by completing relevant online courses offered by Hays Learning. Sign up here today.
Do you need to study or go to university to be a Financial Analyst?
No, a degree is not always necessary to become a Financial Analyst. Many employers will accept candidates with a degree in a related field such as business, accounting, or economics.
Many employers also offer internships for those still studying, which can give the individual some experience in finance and may help when applying for jobs in the future.
Are you interested in embarking on a successful career as a Financial Analyst? Learn more about Financial Analysts salaries and a typical Financial Analyst job description.
