Financial Analyst Education Qualifications
If you are planning to become a financial analyst there are certain educational qualifications that you would need to fulfil. As a minimum criterion, you would be required to obtain a bachelor’s degree. Doing so would help you enter the job profile of a financial analyst at the elementary level i.e. as a junior financial analyst. As you work and perform you can grow further in your career level. Further, you might need certain additional educational degrees or certifications to reach higher positions as a financial analyst. We are going to discuss these degrees and certifications in the present content.
Educational Requirements for Financial Analyst
There are three levels of educational degrees or certifications that a financial analyst is expected to possess based on the position being applied. Let us have a look at the three kinds of educational qualifications, namely bachelor’s degree, master’s degree, and certification required for different levels of positions.
#1 – Bachelor’s Degree for Financial Analyst
To be a financial analyst, having a bachelor’s degree is the bare minimum you would require. A person possessing a bachelor’s degree can join in any entry-level position in the financial analysis domain and usually works under the supervision of a senior analyst. However, it generally follows that people having a master’s degree are preferred for permanent and senior-level positions. A bachelor’s degree can be obtained in many fields, such as finance, economics, mathematics, statistics, etc.
Although one may have a degree in mathematics or other such non-finance fields, companies usually prefer those who have exposure in finance and accounts. A junior analyst can get promoted to a senior analyst based on a good performance.
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#2 – Master’s Degree for Financial Analyst
A person having a master’s degree can directly expect to begin their career as a senior analyst. Any corporate looking for a senior-level position would expect the candidate to have a master’s degree in finance or specific subjects such as project management or marketing. The time required for obtaining the master’s degree may depend on the field in which the degree is being obtained. For example, it takes two years to complete a master’s degree in business administration.
A senior analyst can get promoted to senior positions such as a portfolio manager, fund manager, and other senior positions in which they lead a team of senior analysts. Based on the level of performance, they can move ahead in their career level and grow to become a member of the management team.
#3 – Certification for Financial Analyst
A financial analyst is a very critical profile for employers, especially when the hiring is being done for the senior profiles. That is why many corporates look for candidates having certain professional certifications when hiring a senior-level candidate. The most prominent certification that employers look for in a candidate is the Chartered Financial Analyst (CFA). This certification is granted by the CFA Institute to the eligible candidates.
Those analysts who have a minimum work experience of four years can apply for the CFA certification. Also, the candidates need to pass in the three levels of the certification course. It usually takes about two to five years to complete this certificate. Thus, a person having a CFA degree and a master’s degree can expect prominent level jobs in the field of a financial analyst.
This has been a guide to Financial Analyst Qualifications. Here we discuss the educational and certification requirements of financial analysts. You can learn more about finance from the following articles –