To become a good financial analyst, one has to be dedicated, determined, focused and hard-working, because he/she can not afford to be wrong in the research work. Apart from this, numerical skills, patience, logical interpretation of facts and good communication skills also play a vital role to become a financial analyst. It is a job of a specialist, who always needs to be on his/her toes in order to meet the deadline. The profession of a financial analyst demands long working hours and at times, multi-tasking as well. A good financial analyst should be able to accomplish a complicated task with ease.
To become a financial analyst, one can opt for a degree program in business, accounting, statistics, or finance at under graduate level or a business administration program at post graduate level. He/she should have studied mathematics, computers or social science as compulsory subject at the undergraduate or 10+2 level. The knowledge of preparing spreadsheets, Hyperion Essbase, MS office or other analytical tools is necessary for those who aspire to become financial analysts. A course like Chartered Financial Analyst (CFA program) is especially designed for financial analysts. All the above mentioned programs and awareness of business news would help to develop an aptitude towards the job.
A career in financial analyst offers ample opportunities at junior as well as senior level. One can specialize and can expect a good career as any one of the following - Budget Analysts, Credit Analysts, Investment Analysts, Mergers and Acquisitions Analysts, Money Market Analysts, Ratings Analysts, Risk Analysts, Security Analysts, Tax Analysts, Chartered Accountant trainee and Wall Street Analysts. Job options in this field are not restricted to India itself, bright future prospects are available overseas. Banks and reputed firms are always in need of good financial analysts.
Top Colleges Offering UG/PG/Other Courses
Various institutions all over the India offer specialized training and programs for financial analysts. Some of the reputed institutions are Birla Institute of Technology and Science (Rajasthan), Narsee Monjee Institute of Management, (Mumbai), International Management Institute (New Delhi), SP Jain Institute of Management and Research (Mumbai), Xavier Institute of Management, (Bhubaneshwar), ICFAI Business School (Kolkata, Chennai, Ahmedabad, Bangalore, Mumbai), The ICFAI University (Hyderabad).
A beginner can expect a salary between Rs15000-Rs20000 per month. An experienced person can earn a lot more.