What's it like being a financial analyst?

I'm trying to decide if I should pursue studies in finance. What does a financial analyst do day-to-day, and what skills or education do I need to prepare for this career path?

As a financial analyst, your core roles and responsibilities involve analyzing financial data, forecasting business, industry, or economic conditions, and making recommendations based on your analysis, such as advising companies on their investment strategies. Financial analysts often specialize in a specific region, industry, or type of product. They commonly use tools like spreadsheets, statistical software, and graphics packages to present their findings in a clear way.

A typical workday might involve reviewing reports, conducting meeting with colleagues or clients to discuss your findings, preparing presentations, studying market trends, or creating financial models for projecting future economic conditions.

In terms of education, most financial analysts have a bachelor's degree in finance, economics, statistics, business administration, or a related field. Some positions, particularly those in securities, commodities, or financial services, might require a master's degree in business administration or finance.

Key skills you'd need include strong analytical and mathematical abilities, excellent communication to explain complex concepts to clients, detail-orientation, and the technological competence to use software for analysis and all the computing tools necessary for the job. As most financial analysts work full time, and often more than 40 hours per week, you should also have the capacity to handle a heavy workload and long hours.

It's also worth mentioning that many analysts earn professional designations, like becoming a Chartered Financial Analyst (CFA), which can enhance growth opportunities.

Abiding by these requirements and nurturing these skills can help you prepare for the path of becoming a financial analyst. Overall job satisfaction tends to be high, as the job typically comes with good pay and often involves solving complex problems, which many individuals find stimulating. However, they also often experience higher levels of stress due to their heavy workloads.