How to Get Started in a Financial Analyst Career Path

A job seeker interested in a career as a financial analyst needs to begin career preparations when he enters college.

Given the potential for a lucrative salary and diverse employment options, many people are interested in pursuing a career as a financial analyst. While the field has expanding employment prospects, there are more job seekers in this field than employment opportunities. As such, job seekers need to carefully develop their education, professional background and relevant skill sets in order to compete for financial analyst jobs.

Instructions

Preperations for a Financial Analyst Career

1. Obtain a bachelor’s degree in finance or a related field such as accounting, statistics, business administration, decision and information sciences or accounting from an accredited college or university. Maintain a high grade point average and class rank.

2. Consider obtaining a Master's of Business Administration (MBA) or a master’s degree in finance or a related field. Advanced degrees may provide job seekers with a competitive advantage over other applicants with an inferior educational background.

3. Study the language and culture of a foreign country through coursework. Consider participating in a study abroad or language immersion program in order to gain international experience. The increasing globalization of business and interdependence of the international markets has prompted new employment opportunities for financial analysts who specialize in a foreign country.

4. Fine-tune your analytical math, communication and leadership skills through elective courses, work experience, attending seminars and participating in relevant extracurricular activities.

5. Work as a volunteer, intern or summer associate during college or graduate school in the finance industry for investment banks, financial services providers, hedge funds, insurance companies and organizations with active investment portfolios. Seek out a mentor and perform exemplary work in order to obtain a positive recommendation and possible permanent job offer from your employer.

6. Stay abreast of financial current events by regularly reading the Wall Street Journal, New York Times, Fortune, Economist and other publications that focus on finance topics. Become comfortable discussing the markets and other financial topics as this will help you during the interview process.

7. Network with individuals who currently work in finance by setting up informational interviews with your personal and professional contacts. Attend industry events, campus and community recruiting events, seminars and social hours in order to expand your network.

8. Compile a list of employers in your desired field and geographic area. Prepare cover letters and updated resumes to send out to potential employers.

Tips & Warnings

• Always keep a copy of your resume on hand to give out in case of an unexpected networking encounter.

• A college degree and requisite work experience do not guarantee employment as a financial analyst. Due to the competitive nature of the industry, even highly qualified job seekers can struggle with finding a job.

References

• United State Department of Labor: Occupational Handbook; Financial Analysts; 2010
• University of Michigan Roth School of Business: Office of Career Development: Steps for Developing a Finance Career

Resources

• Business Careers: Robert H. Luke; 1989