Financial Analyst Job Description

Financial analysts are the key members of an organization. This is because business is money and everything goes along the lines of earning money through productivity, controlled resources and investment management. Financial analysts analyze the financial data of an organization and help in decision-making of financial investments. They may also help individuals analyze investment plans and stock options. These professionals may find jobs in insurance groups and larger corporate institutions. We will discuss some important aspects of the job description of financial analysts, their educational background and salary range, in this article.

Job Description of a Financial Analyst

Apart from the aforementioned duties, there are many other responsibilities that are included in the job description of financial analysts. Some of them are mentioned below. The core job of any financial analyst involves:

• General analysis of finance reports obtained from various departments such as sales, marketing, purchase, production, communication, etc.
• Preparing reports on their research and making important suggestions on investments for companies as well as individuals
• Determining, planning and foreseeing marketing activities
• Developing new and effective techniques for financial planning, thereby rendering better service to clients
• Reading financial statements of the organization and taking into consideration the sales, expenses and production cost to recommend investments and forecast future earnings of the organization
• Keeping a tab on the latest trends and techniques in the field of financial analysis
• Coordinating with higher management officials of their own as well as other departments, to report the progress and changes, if any
• Assessing other company's performance, to decide and advice the best company to invest in
• Handling audits and working for client information support services
• Hard-core analysis, fact verification, study and research (junior financial analyst job description)
• Planning and decision-making on financial analysis (senior financial analyst job description)
• Making use of spreadsheets and different statistical software to analyze the facts of their report.

Financial Analyst Educational Background and Career Outlook

Generally, candidates with a bachelor's degree in business administration, finance and accounting, and statistics are preferred by organizations and people with such degrees may work as a junior financial analysts. However, people with a master's degree in any of these areas are eligible to acquire higher positions in the organization, such as senior financial analyst and other higher management positions in the finance department. Core education in financial studies must include investment analysis, marketing studies, international business, business laws, and managerial finance. Besides formal training and education, superior analytical skills, result-oriented nature and team working abilities, excellent written as well as oral communication skills, and detailed working approach are the prerequisites to become a financial analyst.

The job profile of a financial analyst is perfectly suited for multinational organizations, finance and banking institutions, and investment companies. After a suitable amount of experience, financial analysts may opt for self-employment as well. Financial analyst jobs are estimated to increase considerably by the end of 2014.

Financial Analyst Salary

Financial analysts are paid quite well. Studies report that experience counts more than education when determining the salary of a financial analyst. Moreover, the location of the job also matters a lot in the determination of the salary. Financial analysts who have less than five years of experience may earn anywhere between USD 44,000 to USD 63,000. These figures are applicable for individuals who possess certification by the Chartered Financial Analyst Institute. Senior financial analysts may find their salaries ranging anywhere between USD 66,000 to USD 85,000. The more the experience, the greater the pay scale. According to the Bureau of Labor Statistics (BLS), a financial analyst with suitable amount of work experience may earn above USD 140,000. These figures may include annual bonuses and other benefits that may vary from employer to employer.

If you are really interested and looking for a career in finance, then the job of a financial analyst is a great choice. Concentrate on mobilizing knowledge and experience, and delivering performance in the initial days of your career for optimum career development. With these assets in hand, money will automatically follow you. Hope this article on the financial analyst job description, educational requirements, career outlook and salary range proves useful to you. All the best!