Published On Feb 29, 2024
๐ ๐ฆ๐ถ๐ด๐ป ๐๐ฝ ๐ณ๐ผ๐ฟ ๐ข๐๐ฟ ๐๐ผ๐บ๐ฝ๐น๐ฒ๐๐ฒ ๐๐ถ๐ป๐ฎ๐ป๐ฐ๐ฒ ๐ง๐ฟ๐ฎ๐ถ๐ป๐ถ๐ป๐ด ๐๐ง๐ ๐๐๐ซ๐๐๐ซ-๐๐จ๐จ๐ฌ๐ญ๐ข๐ง๐ ๐๐๐ฌ๐จ๐ฎ๐ซ๐๐๐ฌ ๐๐จ๐ฐ โก๏ธhttps://bit.ly/3SPJ29y
Based on analysis of 1,000 job postings, we present our report's findings for an accurate overview of the financial analyst profession.
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Depending on the company they work for, financial analysts have different degrees of specialization. In small firms, a financial analyst will have a 360-degree visibility on revenue growth rate, product sales, profitability margins, top clients, and will possibly study the financial impact of different business lines the company has. They will also work with various balance sheet items and prepare budgeting projections. This isnโt the case in big firms where financial analysts specialize and are responsible for reporting and analysis of specific P&L and Balance sheet items.
When I worked at Coca-Cola in the UK, for a significant portion of my time I was worked on analyzing the performance of the Monster brand and studied Sales, Cost of goods sold and OPEX for that brand only โ no visibility of the firmโs Balance sheet, and anything below EBITDA. I also didnโt work on the companyโs other brands such as Coca-Cola, Fanta, and so on.
But despite their different levels of specialization, financial analysts aim to create value for a business by supporting decisions and analyzing financial data, forecasting future financial performance, and evaluating investment opportunities.
A financial analystโs work helps management understand which operations are profitable and how business activities impact the firmโs financial performance.
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Glassdoor and PayScale are kind enough to share their insights.
Embarking on a financial analyst career, you can anticipate starting with an average salary of $73,000. As your career progresses, expect to earn a higher wageโwith analysts having four to six years of experience making over $90,000 annually.
Pursuing a career as a financial analyst is an excellent starting pointโpotentially leading to such roles as financial controller, finance manager, and even CFO.
Many aspiring financial analysts wonder, "Is a university degree necessary for employment?"
Our analysis of 1,000 job postings reveals that 38% require a bachelorโs degree, 29% a master's, and 32% do not specify a university degree as a prerequisite. So, while lacking a university degree does not preclude you from securing a financial analyst position, it does reduce the available opportunities.
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Number one on the list is Excel proficiencyโa requirement for solid Excel skills in 60% of job postings.
It's important to note that in the corporate sphere, Microsoft Excel is akin to Google and other spreadsheet software to Bing. Our study shows that 99.6% of companies prefer Microsoft Excel.
The most sought-after skills for financial analysis (forecasting, budgeting, client, cost, and revenue analysis) are all covered in our 365 Financial Analyst program.
If you're committed to securing a financial analyst position, click the link in the description for an invaluable resource in your job hunt.
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Many candidates often wonder if a professional finance certification is necessary for employment. Our findings indicate that the CPA certification is the most commonly sought-afterโappearing in 12% of job listings, followed by CFA at 3%.
Other commonly cited Office productivity tools include PowerPoint (14%), Access (13%), and Word (12%), alongside Microsoft Excel.
In larger companies, financial analysts are often required to work with a sophisticated Enterprise Resource Planning system. Therefore, it comes as no surprise that numerous job listings, particularly from big companies, highlight the demand for robust ERP expertiseโparticularly in SAP (12%) and Oracle (6%).
Weโll continue to share tutorial videos to help you on your journey to landing your dream job. Please ๐น๐ถ๐ธ๐ฒ, ๐๐ต๐ฎ๐ฟ๐ฒ, ๐ฎ๐ป๐ฑ ๐๐๐ฏ๐๐ฐ๐ฟ๐ถ๐ฏ๐ฒ ๐๐ผ ๐๐ต๐ฒ ๐ฏ๐ฒ๐ฑ ๐๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐๐ป๐ฎ๐น๐๐๐ ๐๐ต๐ฎ๐ป๐ป๐ฒ๐น if you find this video helpful.
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