How to Become A Financial Analyst From Scratch

How to Become A Financial Analyst From Scratch

You want to know how to become a financial analyst from scratch? No fear, we have made a step to step guide to help you plan towards your career.

The evolution of the financial and commodity market presents new investment opportunities to
investors. The new investment opportunities subsequently create another opportunity for
financial analysts as the risk-averse investors look for guidance in making sound investment
decisions.

According to statistics, the trend will continue in the future, with an expected rise in financial
analysts employment rate of 11% by 2024. This translates to more than 32,000 financial analyst
opportunities in the market today. Aren’t these good news?
If you are interested in the financial analyst field, this article will guide you on how to become a
financial analyst from scratch and take advantage of the above job opportunities.

Step One: Earn a University Degree

Like any other professional field, finance is composed of complex terms, processes, and
formulas. You need some basic university training on any business-related course to familiarize
yourself with most aspects of finance. The course could include anything to do with finance,
accounting, commerce, economics, statistics, business mathematics, etc.
Since the financial analyst job entails applying various computer programs and data software,
getting training on the related courses can help you better your financial analyst performance.

Step two: Practice, practice and practice

After acquiring the university degree, the next step is to put the theoretical knowledge from the
college into practical application. While the practice will help build your experience, it will also
help in expanding your network and finance knowledge.
Though there could be many ways of doing the finance practice, the ones discussed below are
the most effective.

Enroll In an Internship Program

By joining an internship program, you will learn the viable strategies you can use to analyze
different investments and advise investors on the best way forward. You will also learn about
the challenges involved in the field and how you can overcome them.
You can easily get a paid internship position with one of the investment banks with the help of
your university’s career center. The advantage of working with investment banks is that they
can easily retain you as a full-time employee after the internship. However, you should not

hesitate to seek an internship position from local investors if you fail to get one with investment
banks. Remember, you are not only looking for a job but also experience.

CFI How to Become A Financial Analyst From Scratch

Use Trading Simulators Online

Trading simulators are the best tools that any financial analyst can use to nail their skills in the
stock exchange market. The app duplicates the real stock market values, allowing you to
practice the different strategies you can use to survive in the stock market. The good bit about
the trading simulators is that they use dummy values, hence no losses.

Start A Finance Blog

Publishing finance blogs comes with many benefits. First, you will learn new financial concepts
and procedures while creating the articles. Secondly, publishing the blogs will allow you to
communicate to different investors who might need your services. As such, blogs can help you
expand your career network significantly.

Step Three: Obtain a Financial Analyst Job

After a series of training and learning, you need to make your first shot in the finance industry.
Though it may not be easy to secure a job, there are various strategies you can use to maximize
the chances of getting one. These include:

Capitalize On Networking

Networking is one of the most effective strategies you can use to secure a financial analyst job.
It involves connecting with professionals who have already made it in the field. Having known
that, the next thing that you don’t have to worry about is connecting with them.
You can connect to other finance professionals through referrals and social media platforms. In
most cases, connecting through referrals from friends and relatives tends to be most effective
as they link you to people already known to them. This increases your chances of securing a
direct job.

Send Applications

If you have been working with an investment company as an intern and have a financial analyst
vacancy, you can apply for the position while still on internship. Even if there are other
applicants in the queue, the chances are high that the investment company will prioritize you.

When you start working, your employer will undoubtedly onboard you with regular training.
Kindly take the training seriously as they will account for your performance in the job.
Step Four: Enroll In an Online Financial Analyst Training
If you are lucky to get your first job, you need to work harder on perfecting your financial
analyst skills. Though your employer may onboard you with some training, it won’t be enough
as it is limited to the company’s objectives.
That said, you need to enroll in an online financial analyst training program to sharpen your
skills in financial forecasting and modeling. A good example of the online financial analyst
training program is the CFIs Financial Modeling and Valuation Analyst (CFVA) certification
program. Enrolling in it will guarantee you exclusive skills in accounting, finance, and excel.

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CFI

Enjoy Your Profession!

Now that you have the right qualification and experience, it’s high time to enjoy doing what you
love. Dedicate yourself totally to the job to build your professional reputation. Remember, the
degree of your commitment to the job will determine your future success in the field.

 

Next article, EXCLUSIVE INTERVIEW: Aly-Khan Satchu, CEO at Rich Management

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