Financial analysts are needed and used in a variety of industries. Those used in banks are often referred to as security analysts or investment analysts. Financial analysts use spreadsheets and statistical software to analyze financial data, spot trends, and develop forecasts. They then write reports and make presentations on these results. Some analysts may even make the decision to buy or sell for the company. Taking financial risk into consideration is very important in the job of a financial analyst. .
Working conditions for a financial analyst can vary with the clientele an individual has. Long hours may occur, as well as frequent travel to visit companies and talk to potential investors. There may also be deadline pressure. After hour work may also be required to do much of the research. A benefit for a financial analyst is with some positions working from home is an option.
A college education is a must for a financial analyst. Most companies require a bachelor's degree in business administration, accounting, statistics, or finance. Also coursework in statistics, economics, and business required. A masters degree is desirable. Mathematical, computer, analytical, and problem-solving skills are all essential qualifications for a financial analyst. Some other skills that individual companies may require are general business knowledge, solid communication skills, good team work and interpersonal skills, organizational skills, project management experience, computer system knowledge and willingness to travel. It is also very important for financial analysts to be able to cross-function with many different departments, due to the nature of the job involving every aspect of the company. Financial analysts may receive the title Chartered Financial Analyst (CFA). This is not a requirement for the field, but can increase professional standing and is more appealing to many companies.
