Financial Analyst career path?
What happens as your acareers progresses? will you be a Fin. Analyst for the rest of your life or do you have to work for about 2 years and then move up to be an investment banker?..... What happens to a financial analyst who has 2 years work experience?... How many hours a week? does it get better or worse?
- Veritatum17Lv 61 decade agoFavorite Answer
Bear in mind that a "financial analyst" means different things for different employers, even within the same industry.
A financial analyst may be an auditor or credit analyst who is called upon to forecast sales, delinquencies, or other business data time series. This is for a commercial, residential or consumer lender.
A financial analyst at an investment bank, niche securities consulting firm, or pension fund will be called upon to model market risk or some other form of exposure, or perhaps judge sales trends or another form of performance.
Definite milestones in your career should include:
* MBA or M.S. Finance or M.S. Economics
* CFA, CPA, or some closely related certification
* Progressively-increasing responsibilities
Two years of experience doesn't mean a lot other than you have survived the entry level. By five years, you should have a strong indication of your career potential. If you've not been promoted, perhaps you are in the wrong niche of hte financial services field (ie, if you are in consumer financial services, perhaps look at pension fund advising or somesuch).
A financial analyst is a number-cruncher of a high level. Expect 50+ hours per week, and up to 90 hours during busy seasons (particularly if you are working in a hedge fund or high-risk investment group).
One tip: turnover is extraordinarily high, even at the top, so keep your networking options open.
Also, keep up on the latest techniques for analysis. but do not lose sight of the focus or "home field" for your employer. The strategy at Edward Jones is very different from that at Morgan Stanely.
Moving up to be an investment banker is an extremely competitive move. Do not expect it to come quickly, but continue to work hard and be noticed. A high-profile position may assist you, although it will make any mistakes you make far more visible.
If you get sick of being a financial analyst, consider that your background (CPA or CFA, MBA or MS, etc) will get into a less-pressured (but lower-paying) position in most other parts of the industry. Financial services is a high burnout field, but one that makes smart people into bloody good thinkers and analysts.
- 1 decade ago
I'm guessing that if you've landed a financial analyst position that you've got at least a four year college degree in finance or some other business discipline, and that this your first job. Well, the good news is that getting that first job is the hardest thing, and if you've been able to hang in there for 2 years, you've got lots of options. Things like how many hours you work is largely under your control; however, if you work for an organization where a 60+ hour week is the norm, then you probably won't be successful if you only want to work 40 hours. You need to decide what your limits are, similar for a position that requires a lot of travel. As for being an analyst the rest of your life, you can always change jobs, but look for something that builds on what you learned as an analyst so you can negotiate a raise at the same time. If you decide to go into a completely unrelated field you lose that advantage. And of course if you have your eye on becoming an investment banker, the fin analyst position is a great stepping stone. I wish you the best in your future career.
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- 4 years ago
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Financial Analyst career path?
What happens as your acareers progresses? will you be a Fin. Analyst for the rest of your life or do you have to work for about 2 years and then move up to be an investment banker?..... What happens to a financial analyst who has 2 years work experience?... How many hours a week? does it get better...Source(s): financial analyst career path: https://bitly.im/LNcia
- 1 decade ago
'Analyst' means many different things at an investment bank; it often refers to fresh college graduates who work in structured 2-year programs, but it can also refer to more experienced people who analyze equities, bonds or derivatives for a living. For example, there are many people in their 30s and 40s who work as analysts, but they typically have 10-20 years of experience and have chosen to focus on analysis, rather than sales (=broker) or deal-making (=investment banking). So one doesn't necessarily "move up" to investment banking! Usually after 2 years in a big bank's training (analyst) program, they will either be offered a job in one of the banks' groups, OR they may return to school to get an MBA, OR they will be pushed out if their performance is sub-par. At the top-5 US investment banks, these trainees usually work 80-120 hours per week (no joke) including Saturdays and Sundays. The hours get a bit easier after age 30-35, but not much. The big banks love to see people spending lots of time in the office...it's a crappy lifestyle, to be honest. DSource(s): 15+ years professional investment experience (investment banks and hedge funds)
- KatherineLv 44 years ago
Unfortunately it can hinder you becoming a financial analyst. Most companies have a finance degree or equivalent as a prerequisite. If you minor in finance, it will help but not sure if it will help a lot. However, if you have statistical analysis under your belt from psychology, that will go a longer way than just having finance. Most of finance deals with statistics with a few pieces about calculating annuities and pricing. But generally speaking, having a stats background will help.
- JaneLv 44 years ago
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Jamie Dimon has a degree in psychology, hopefully you know who this is or finance isn't for you lol. You should hold off your graduation if possible and get into an internship. It sounds ridiculous but you'll thank me later. Once you break through, it will be easier to move around. With a psych degree you can definitely do HR in a BB bank and work your way into different positions as you get your MBA.
- 4 years ago
I love this question