Financial Analyst | A Career Overview
Who is a Financial Analyst?
Financial analysts are responsible for collecting data, organizing information, analyzing, making forecasts and forecasts, making recommendations, Excel models, presentations, reporting, and much more. Analysts have many obligations and responsibilities, depending on the organization to which they belong, the industry in which they belong, and their tenure.
What do they do?
- Collect data and information- The job of a financial analyst begins with collecting data and information about everything that needs to be analyzed.
- Organize information - When the data is collected, it is usually populated in Excel or some other type of database.
- Analyze financial results - Once the data has been cleaned and organized in Excel, it's time for financial analysts to analyze historical information and past results.
- Make predictions and predictions - After analyzing historical information, it's time to make projects and forecasts about how the company will grow in the future. Predicting how a company will perform is both art and science, and many assumptions and even leap of faith must be made.
- Make recommendations - A good financial analyst is not only good at numbers but also produces insights and recommendations to improve a company's business operations.
- Create an Excel model - Financial modeling will be a big part of the job for analysts working in investment banking, equity research, corporate development, financial planning and analysis (FP & A), and other corporate finance areas.
- Give a presentation - Next, you need to convert the analysis created in Excel into charts and charts. These can be included in pitchbooks and management presentations.
- Create a report - Internal reports and dashboards are part of the analyst's daily life.
Roles and Responsibilities:
- Analysis of current and previous financial data
- Examine current financial performance and identify trends
- Generate reports based on the above data and communicate the results to other members of your organization
- Work with management to develop a long-term business plan
- Recommended budget and improvements based on the above information
- Survey of various investment opportunities
- Create a financial model and predict financial results
- Creating initiatives and policies that can drive economic growth.
Required Qualifications:
- Undergraduate degree in finance, accounting, or related disciplines. CPA or CMA certification is preferred.
- Requires at least 24 years of relevant experience in corporate finance, financial planning and analytics, investment banking, or related disciplines.
- Experience with Excel and financial modeling
- Requires good analytical, decision-making, and problem-solving skills.
- Attention to accuracy and detail is required.
Salary & Compensation:
Based on 555 salaries, entry-level financial analysts with less than a year of experience can expect to earn an average of $ 348,847 in compensation (tips, bonuses, overtime). Based on 1,626 salaries, early career financial analysts with 14 years of experience earn an average of $ 399,331 annually. Based on 564 salaries, mid-career financial analysts with 59 years of experience earn an average of 606,503. Based on 135 salaries, senior financial analysts with 1019 years of experience pay an average of $ 865,636. Late career employees (aged 20+) receive an average of $ 1,347,500 in compensation (Source: PayScale)
