How to Become a Financial Analyst: 10 Steps


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Taking the steps on how to become a financial analyst is not one that happens swiftly.  It takes some gradual steps of continuous learning and professional development.

Even when you finally become one, you still need to stay connected with daily information on trends within your industry.

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Who is a Financial Analyst?

A financial Analyst is a professional who collects information, analyze data and proffer good decision based on clients’ or companies’ investment goals.

A financial Analyst deals with information on matters relating to financial activities. As such, they render their service to both individuals and corporate firms.

For this reason, to become an expert in the field of Financial Analyst you need to take the following necessary steps.

10 steps to become a Financial Analyst

Taking these first three steps clearly defines who a Financial Analyst is.

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1. A degree in Education

Getting yourself a degree in one of the financial courses is the first step to take. Precisely you can choose financial management, economics, statistics, or any course related to financial activities.

Opting for a bachelor’s degree is the minimum qualification you have to start with. This is because being a professional in financial analytics could further demand a higher qualification.

There is no limit to the qualifications you can have but a bachelor’s degree can give you a start at the entry level.

Getting a bachelor’s degree could help you get employment easily and proceed to the next level in your career.

2. Build an experience

As you are hoping or striving to be a Financial Analyst, you need experience, as people will say, “experience is the best teacher.”

Some people gain experience when they do things the wrong way but that could be risky. You have been attending classes and receiving teachings to gain your bachelor’s degree.

It is time you start putting into practice all you have learned. You can do this in different ways to gain experience.

You can go for an internship, where you will have the opportunity of practicing your career under the watchful eye’s of a group of experts in the field.

Internships could be the best method of gaining experience because you will learn new things and practice them as well.

You can choose to work for a private firm where you will gain experience through on-the-job training.

This is a situation where you gain employment without any experience. Then while working with your employer you gradually gain experience, while your employer constantly monitors your performance.

3. Acquire some technical and soft skill

Your profile as a financial Analyst may not be complete if you lack both technical skills and soft skills.

To gain technical skills you need to be proficient in data and statistics as well as various web applications and development. Being competent in microsoft word, excel sheets, and computer programming is important.

While your soft skill demand that, you develop critical thinking, interpersonal relationships, and problem-solving ability. You need to have leadership qualities, teamwork ability, and good decision-making.

You can learn to develop technical skills if you apply for a course. The soft skill may appear like a natural endowment but you need to put the positive aspect of it to work.

Your manner of approach towards issues and fellow humans also speaks volumes about your profession.

Bear in mind that these three steps are the core potentials that will help you build a pathway to becoming a Financial Analyst.

These three steps may be interrelated but different from each other. Each one has a significant contribution when identifying professionals among the crowd.

When you have taken these three core steps, then other steps can follow.


4. Obtain certification in an analyst course

Some programs can boost your bachelor’s degree. For instance, the (CFA) Chartered Financial Analyst or Financial Modeling and Analyst or a related course.

These programs can be an added advantage when seeking employment and when building your resume.

For you to obtain this certificate, you will need to apply for the course and subsequently pass the exams.

You need to be established in one of these programs and obtain certification to boost your professional career.

5. Push your education further

Having a bachelor’s degree and other certifications should not be the limit of your learning.

Although, Pushing your education further is not compulsory but this can make you become a senior professional in your field. You can consider applying for a Master’s Degree in any of the finance courses.

Attaining more Degrees can enhance your opportunity in the competitive market and help your promotion in any firm.

6. Obtain the required license

If your goal to become a financial Analyst is in the area of settling to become an employer of labor then you could get a license. With this license, clients will also seek your service.

Obtaining a license requires passing the required exams. The Financial Industry Regulations are one such exam or a Chartered Financial Analyst course is also accepted.

Obtaining this license awards credibility, and competency to the Financial Analyst

7. Grow deeper in your profession

As with every other professional, individuals still want to be the best of what they are.

You still need to strive further by constantly being on the lookout for what is happening around your professional field.

Be attentive to information and new developments if possible be the first to know about them. Always communicate your findings to your colleagues and clients and make recommendations where necessary.

8. Build a network around your profession

One of the ways of building a professional profile in your field is by getting to know other experts.

Start attending seminars, meetings, workshops, and gatherings related to your field of profession.

Join their club, hang out with them, share your ideas, and also contribute your idea to their suggestions. Do not forget to build a channel of communication around them.

By doing this, you could gain more opportunities in the areas you desire to pursue your goals.    

9. Make ready your professional details

As always the case with job seekers, prepare your resume to look professional and interesting.

Include every relevant detail and information arranging them neatly.

Endeavor to highlight every important thing like your qualifications, certifications, internship, skills, and experience.

Ensure you explain how your role in each matches the position you are applying for.  

10. Seek employment or become an employer

You will have to choose from two options when you obtain your bachelor’s degree and gain enough skills and experience.

You will seek to gain employment in any reputable company that suits your profession. Banks and investment firms can be an example of such organizations.

Make inquiries and visit online job websites to seek openings. While doing so also prepare for interviews by rehashing any likely questions or exams.

If you like, you can choose to establish your private firm where you will provide financial services to clients. This step requires careful planning and serious commitment to ensuring growth and success

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