Are you getting towards the end of your time in college? If so, you are probably attempting to figure out which career to focus your job search efforts upon. Those that have an inclination towards business may want to consider becoming a financial analyst.
Chase Rubin has enjoyed a great degree of success in this career, and you can as well. In this post, we will run down what this occupation is about, so you can figure out whether you have what it takes to be a financial analyst.
What does a financial analyst do anyway?
A financial analyst is a very important person in a company, as they analyze trends affecting the business world, looking at them through the lens of the corporation that they work for.
Based on what they find, they make recommendations to executives on the crucially important decisions that they need to make on a regular basis.
For example, financial analysts that work for publicly traded companies will project the performance of acquisition/investment targets in the years ahead, and then recommend whether the board should buy shares in a specific company, or sell if they are holding any shares.
What education does a financial analyst need?
If you are currently in college and you want to become a financial analyst, you should focus on taking courses in business, mathematics, economics, and other subject areas that are highly relevant to the world of corporate finance.
Do not despair if you are currently not working towards a business degree, as there are many employers that will hire graduates that have bachelors degrees in areas such as computer science, engineering, and other relevant academic disciplines.
One way to stand out to potential employers is to pursue an MBA, as many graduates of these programs are hired straight out of school into well-paid positions.
There are also professional exams that you should take even after completing a bachelors or masters degree. The most important of these are the exams you can take through the Chartered Financial Analyst program, or the CFA.
Specifically focus on the series 7 and 63 exams, as these tests challenge participants in many core concepts that major corporations find highly attractive in a financial analyst.
What is the average day of a financial analyst like?
You will spend as much of your day consuming as much relevant financial information as possible, as it is your job to be informed on the latest developments in your industry.
In addition to reading mainstream financial publications such as the Wall Street Journal, you will spend a lot of your time seeking out industry newsletters, and reading the financial reports of corporations that are in the sector in which your company does business.
In addition, you can expect to spend a lot of time on the ground observing the operations of your company’s assets, as well as those that your employer may have an interest in investing its capital in.
When you have all the relevant information that you need, you will spend many hours filling in spreadsheets and putting together slides on PowerPoint.
When you have finished putting together your presentation materials, you will be using them in meetings to recommend a course of action to relevant decision-makers.