Financial Analyst is one of the most sought after and interesting career options in the field of finance. Evaluating possible investments, recommendations for buying, selling or holding investments, developing forecasts and analysing financial data are a part of an analyst's job role. The average salary of a financial analyst is $55,100 per year.
You can join as a financial analyst in any industry once you graduate in Finance. There are dedicated financial portals that provide opportunities for a graduate job in finance.
The future career path has been explained below:
Senior Finance Analyst
Average salary- $72,951 per year
A leader of a group of financial analysts who work with the funds of the company; the company they work for.
Apart from making financial recommendations, an analyst also helps the company by making financial forecasts, preparing and reviewing financial reports. The post generally requires an MBA and financial analysis experience.
Average salary- $82,327 per year(rises steadily for experienced workers)
The next step on the career path of a financial analyst is that of a finance manager. A finance manager's job role is to analyze the financials within an organization, highlighting areas of cost reduction and improvement, assisting operations team in monthly operation reviews. Many managers work closely with CEO's, CFO's and the major accounting group.
Average salary-$85,295 per year
With advancement of skills and years of valuable experience, the career of a financial analysts can reach to being a director/ vice-president. The skills that are mandatory are financial modelling, management and analysis. Apart from a master's and bachelor's degree in finance, the post also demands substantial experience working in administration and financial management. The director/VP coordinate with other departments to formulate budget, fixing capital budgeting, hiring and supervising staff in daily operations, developing and directing use of accounting systems and their internal control. He/she also coordinates audits and works with internal teams to monitor and achieve operating goals.
Average salary-$117,841 per year
The ultimate aim of any financial analyst is to be a Chief Financial Officer. The CFO is a top executive position which involves direction and coordination activities. All major financial decisions are approved by the CFO . The management of finances by a CFO plays a significant role in the success of a company. CFOs with 4-5 years of experience generally take up the position of CEOs.