What is a Financial Analyst?
So, you are thinking about a career as a financial analyst.
Well, that’s awesome!
The question is, do you have what it takes?
Keep reading to find out more…
If you are interested in becoming a financial analyst, you are in good company. According to the Bureau of Labor Statistics, the workforce is made up of 296,100 financial analysts in the United States.
So, is there any room left for you?
And the answer is yes.
Employment of financial analysts is projected to grow by 11 percent from 2016 to 2026, which is faster than the average for all occupations. Growth will occur for a number of reasons.
A growing range of financial products and the need for in-depth knowledge of geographic regions are expected to lead to strong employment growth.
Demand for financial analysts tends to grow with overall economic activity. Financial analysts will be needed to evaluate investment opportunities when new businesses are established or existing businesses expand. In addition, emerging markets throughout the world are providing new investment opportunities, which require expertise in geographic regions where those markets are located.
Demand is also projected to increase as the growth of “big data” and technological improvements allow financial analysts to access a wider range of data and conduct higher quality analysis. This analysis will help businesses manage their finances, identify investment trends, and deliver new products or services to clients.
Who is becoming a financial analyst?
According to datausa.io, the financial analyst workforce is 59.5% male.
What personal qualities and characteristics make a good financial analyst?
According to the Bureau of Labor Statistics, the following qualities are important to have as a financial analyst.
Analytical skills. Financial analysts must process a range of information in finding profitable investments.
Communication skills. Financial analysts must explain their recommendations to clients in clear language that clients can easily understand.
Computer skills. Financial analysts must be adept at using software packages to analyze financial data, see trends, create portfolios, and make forecasts.
Decision-making skills. Financial analysts must provide a recommendation to buy, hold, or sell a security.
Detail oriented. Financial analysts must pay attention to details when reviewing possible investments, as small issues may have large implications for the health of an investment.
Math skills. Financial analysts use mathematical skills when estimating the value of financial securities.
The bottom line: If becoming a financial analyst is something you feel passionately about, the one word of advice we will give you is: Go for it!