The Must-Have Skills of a Financial Analyst

financial analyst
19
VIEWS

Being a financial analyst is a lucrative career, with over 260,000 people being employed in that career in the country. Financial analysts help companies improve their profits by looking at their financial standings and making recommendations. A financial analyst needs to have the right amount of education and experience to be successful.

There are soft and hard skills that a financial analyst needs to possess. Having these skills will look good on your financial analyst resume, making you more appealing than other candidates when applying for jobs.

This guide will discuss the top unique skills you should have as a financial analyst. Prepare yourself for applying for financial analyst jobs by ensuring you have what it takes to perform the job.

What Is a Financial Analyst?

A financial analyst works with individuals and businesses about how to improve their profits. They might work as an internal employee with a larger company. They could also run their businesses, taking on external clients.

Some of the tasks a financial analyst performs include:

  • Supporting budget efforts
  • Studying business and economic trends
  • Building financial models
  • Compiling reports on recommendations

Top Skills Needed for Financial Analysts

It’s recommended that people who want to pursue being a financial analyst get a Master of Business Administration (MBA). In addition to that educational requirement, let’s discuss some of the most helpful skills a financial analyst needs.

Strategic Thinking

A major part of being a financial analyst is evaluating trends and information. You need to be able to prioritize and recognize financial problems that might arise with a business or individual. They use this information to help organizations make smart decisions.

Some of the decisions that a financial analyst can help a business make include:

  • Buying new software
  • Selling an asset

A financial analyst needs to think through various questions and answers before deciding on a course of action.

Organized

Being organized is considered a soft skill but an important one for a financial analyst. Keeping track of financial records and current processes is an essential component of their jobs. You might need to sift through multiple documents at once, so keeping track of the information can help you stay on track.

Mathematical Skills

Mathematical knowledge is an important part of being a financial analyst. You need to know about different techniques and processes.

For example, you can use your math skills to:

  • Evaluate the performance of bonds and stocks
  • Estimate your company’s value

You should also have experience in statistics and algebra.

Technologically Advanced

Using technology resources can help financial analysts develop their skills. For example, Excel is a valuable program. Click for a financial-modeling course that can teach you everything you need to know about using Excel as a financial analyst.

Looking up instructional videos or reviewing how-to guides can assist you with staying on top of new software programs. Streamline your workflow by being open to advancements in your field.

Develop Your Skillset to Be an Expert Financial Analyst

Being a financial analyst is a lucrative career choice. It’s important to possess a wide range of skills, in addition to the degree requirements of the job. Expand your skillset so you can offer valuable tools to your clients and employer.

Did you find this article helpful? Check out one of our other articles on careers and jobs.