Today’s job market is absolutely fascinating. One of the most in demand positions is that of a financial analyst such as Mack Prioleau. Anyone who is able to meet the financial expectations of modern employers is likely to be able to have a job for life. Let’s take a look at this fascinating career.
What People Like Mack Prioleau Do
Financial analyst or business analysts are professionals who monitor the way a company moves financially. Their main task is to determine what the financial risk of the company is and using that to draught forecasts. By working together with these types of professionals, businesses are able to ensure the financial Decisions of Sound, put in place debt strategies, monitor cash flow, and maintain budgets.
Where Financial Analysts Work
Financial analysts are in high demand in a range of industries. In fact, anywhere where complex finances are found, analysts may be required. This includes:
- The auditing and accounting services industry.
- The defence and aerospace industry.
- The banking industry.
- The pharmaceuticals and biotechnology industry.
- The business services industry.
- The computer hardware and software industry.
- The education industry.
- The consumer goods industry.
- The construction industry.
- Utilities and energy.
Job Duties of a Financial Analyst
A financial analyst has a variety of tasks. Mainly however, they are responsible for evaluating the financial risk of their organization, reporting on this through financial forecasts and helping to create strategies. They also ensure the company’s budget is appropriate by looking at the costs of operations. They determine what the business’ current financial status is by looking at projections and actual results. They also make sure that the correct financial policies and procedures are in place and ensure they devise solutions to improve. Often, they also maintain database systems, ensuring the data is accurate. Indeed, some even develop accounting applications to improve this. They maintain the highest level of confidentiality and they work across all levels of the organization.
Becoming a Financial Analyst
In order for someone to become a financial analyst, they will usually be expected to hold at least a bachelor’s degree in finance or a related subject such as administration, statistic, economics, or management. Some become Chartered Financial Analysts (CFAs), for which they require further education with most actually holding a master’s degree. Completing certifications and internships tend to place someone in higher demand.
Through education, a financial analyst demonstrates that they have excellent oral and written communication skills come out the ability to understand business operations, superior organizational and analytical skills, the ability to make financial forecasts, project management skills, the ability to work on the minimum levels of supervision, the ability to multitask, an in-depth understanding of quantitative and financial Concepts, and excellent IT skills.
Considering the high level of education that these professionals have and a tremendous responsibility they carry in their role, it should come as no surprise that they also attract very interesting salaries. While it is generally not the main motivator for someone to take on this position, it certainly helps.