What are the requirements for completing an online financial analysis program, and what does it take to earn a financial analyst degree? Financial analysis is also referred to as financial statement analysis or accounting analysis. It refers to an assessment of the viability, stability and profitability of a business, sub-business or business project. It looks at the viability or commercial worth of a development from the viewpoint of private investors and deals with cost and benefit flows from the perspective of firms and individual. A financial analyst degree has a lot of value for those who are planning to work in the monetary industry. This is a job that requires mastering the skills required to evaluate the practicality as well as stability and productivity of any projects and businesses as well as companies. With such skills, it is easy to make wiser investment decisions and by further specializing in an industry, such a professional will be able to do closer monitoring of the trends in an industry and they can monitor products as well as the competition.
Financial Analysis Education and Training
What are the financial analyst course requirements? Financial analyst education may vary by financial analysis program but in order to become a financial analyst, it is necessary to possess at least a bachelor’s level qualification in monetary practices or in some other related area.
Those who have earned a masters level financial analysis program qualification in the field of monetary matters or in business administration will also find it easy to obtain a financial analyst degree. Courses may include:
- Risk Analysis and Management
- Financial Statement Analysis
- Financial Securities Analysis
- Investment Portfolio Management
- Behavioral Finance
- Corporate Finance
- Wealth Management
- Tax Accounting
With a financial analyst degree in hand, you will have complete understanding of basic economic subjects such as corporate monetary matters and balance sheets as well as income statements. A bachelors financial analysis program qualification is an essential requirement for a financial analyst degree though an MBA degree will be preferred. Financial analyst classes trend to focus on corporate finance, and risk management.
Licenses and Certification
The Bureau of Labor Statistic (BLS) reports that brokers and investment bankers are required to register as representatives of their firm with the Financial Industry Regulatory Authority (FINRA). To obtain the license, those who wish to become agents must pass several exams. Various licenses are available for selling different investment products and services.
Although not always a requirement, certification is an added advantage for those seeking employment or career advancement. Brokers, investment bankers, and financial services sales agents may earn the Chartered Financial Analyst (CFA) certification through by the CFA Institute.
For Financial Examiner working for the Federal Deposit Insurance Corporation (FDIC), they must have at least six semester hours in accounting.
Financial Analysis Careers
Armed with such qualifications, one can work as a monetary matters analyst. This job has to do with performing research and it also requires that you do the analysis as well as assessment of economic performance and value as well as earning potential of a company and even an industry.
A monetary matters forecaster is also known as a security forecaster and an investment forecaster and their main job is to provide proper economic evaluations as well as provide fiscal guidance to an organization like a banking institution and an insurance company.
Such professionals who have graduated from a financial analysis program will enjoy many career opportunities opening up to them. The employment prospects for a qualified forecaster of monetary matters are bright as the banking industry in particular will offer many interesting options. The banking sector has in fact the greatest demand for such people but those who graduate from a good financial analyst program are more likely to have more, and better options.
Such professionals will benefit because of a strong growth in this field and this growth is faster than for other professionals and is expected to increase by 34% in the period 2006 to 2016. This growth will be fueled by growth in the monetary sector and also because of higher complexities in the investment industry.
Estimated Income and Projected Career Outlook
Job prospects will be good and there is expected to be high competition for the top jobs in this sector. This is why only those professionals that have strong educational qualifications will get the best jobs. The Bureau of Labor Statistics (BLS) reports the following data for 2010:
The median annual wage of financial clerks was $33,710. The lowest 10% earned less than $22,920, and the top 10% earned more than $49,500. The employment of financial clerks is expected to grow by 11% from 2010 to 2010.
The median annual wage of securities, commodities, and financial services sales agents was $70,190. The lowest 10% earned less than $31,330, and the top 10% earned more than $166,400. The employment of securities, commodities, and financial services sales agents is expected to grow 15% from 2010 to 2020.
The median annual wage of financial examiners was $74,940. The lowest 10% earned less than $43,170, and the top 10% earned more than $134,820. The employment of financial examiners is projected to grow 27% from 2010 to 2020.
The median annual wage of financial analysts was $74,350. The lowest 10% earned less than $44,490, and the top 10% earned more than $141,700. The employment of financial analysts is expected to grow 23% from 2010 to 2020.
The median annual wage of financial managers was $103,910. The lowest 10% earned less than $56,120, and the top 10% earned more than $166,400. The employment among financial managers is expected to grow 9% from 2010 to 2020.
The median annual wage of personal financial advisors was $64,750. The lowest 10% earned less than $32,660, and the top 10% earned more than $166,400. Employment of personal financial advisors is projected to grow 32% from 2010 to 2020.
The median annual wage of budget analysts was $68,200. The lowest 10% earned less than $44,860, and the top 10% earned more than $101,660. The employment of budget analysts is expected to grow 10% from 2010 to 2020.
The median yearly salary for such a professional is in the range of $66,500. The lowest salary earned by them is approximately $40,340 while at the top end the salaries being given to such professionals are in the range of $130,130. In addition to these salaries, they can also earn bonuses, which vary according to their level of performance, which are common for this particular field.
If you have interest in finances and you possess good communication skills, you will find it a lot easier to succeed as a monetary matters forecaster upon completing the requirements of a financial analysis program.
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