If you enjoy finance, then a career as a financial analyst could be rewarding. There are several different paths you can take to reach this goal. You can get certifications, take exams, complete internships, or even apply knowledge from other financial careers to your new financial analyst path.
Here are some ways you can become a financial analyst and take your financial experience to new heights.
Take an Exam
There are several exams available to help you further your financial career. The chartered financial analyst exam is one of them. There are many ways to prepare for this exam, so you should prepare a study plan to ensure you are looking over the correct topics and materials.
Some career paths this exam could lead you towards including a portfolio manager, research analyst, or executive. You can also be a risk manager or financial advisor. If any of these career paths seem exciting, the CFA exam could help you reach these goals.
To take this exam, you must have a bachelor’s degree, four years of work experience, own an international travel passport, take the exams in English, and meet professional conduct criteria. After enrolling in the CFA program and taking the three-part exam, you’ll want to look at your CFA exam results to see how you’ve done.
Get a Degree
While you don’t need a particular degree to become a financial analyst, a degree in math-, economics- or science-related field can help. Most people may pursue economics, finance, or statistics if they want to become financial analysts.
However, unlike other fields like medicine or law, you don’t need to meet steadfast requirements. A bachelor’s degree can help, so keep this in mind. Most people in the job market will have at least this, or even an advanced degree.
An MBA can help if you are coming from a smaller or lesser-known school. You increase your chances of being hired as soon as you graduate if you pursue this path to a financial analyst career.
You also need to have good quantitative abilities, an understanding of logic, and expert communication skills. While in school, you should develop these abilities and apply them to any potential jobs you get.
Different Positions You Can Get
There is more than one type of financial analyst job, so you need to determine what area you want to focus on and what interests you. There are buy-side analysts, sell-side analysts, and investment banking analysts, for example.
Buy-side analysts are what more financial analysts lean become. They help their companies and employers decide how to spend their money. It can be investing, buying income properties, or finding marketing dollars.
Buy-side analysts are valuable for employers, so they are always in demand. Most companies recognize the importance of these jobs and want to ensure they are investing or spending their money wisely.
Sell-side analysts evaluate the quality of securities and then write research reports with recommendations. They can also track stocks in a portfolio to determine when they need to sell. The instructions are valuable to employers and companies, so they hold great weight and are not taken lightly.
Investment banking analysts help determine if deals between companies like mergers and acquisitions are possible. They do this by looking at the current financial conditions and deciding if an alliance is appropriate.
These are some ways you can become a financial analyst and some examples of positions you can get. Research to determine what you are interested in and what you want to achieve long-term. There are dozens of paths you can take, so see what suits your needs best.