Greg Bolan works in the Corporate Finance as a Financial Analyst. In the following article, Greg Bolan provides an overview of the position, and career outlook for prospective job seekers.
Those with a business-savvy mind, a big-picture outlook, and exceptional communication skills could have an auspicious career as a financial analyst. They work in many industries making predictions, studying trends, and providing recommendations for business money moves and investments.
According to Forbes Advisor, financial analyst roles require a minimum of a bachelor’s degree, with better prospects acquired through certifications, licenses, and experience.
Financial Analysts: The Job Role
Broadly speaking, Greg Bolan explains that financial analysts advise individuals and organizations on the best investments by condensing immense amounts of information into succinct recommendations.
To provide valuable insights and accurate advice, they spend much of their time researching companies’ financial histories, deciding whether they’re worth investing in.
On top of that, Greg Bolan says that they help businesses establish how to invest in emerging industries and are responsible for keeping up with political, global, and economic trends.
But while they’re expected to have a wide-reaching understanding of the market, they don’t need to know it all. Instead, financial analysts usually focus on a single product, industry, or region, constructing expertise in their specialty area.
The Types of Financial Analysts
Contrary to popular belief, experts and government bodies note that multiple job titles fall into the financial analyst category.
As per the U.S. Bureau of Labor Statistics, the following are types of financial analysts:
The Skills and Requirements
Due to the nature of their career, Greg Bolan explains that financial analysts must have analytical minds and be incredibly detail-oriented when researching. Solid math skills and computer literacy are also imperative, as they utilize software to construct forecasts and analyze trends.
Decisiveness and strong aptitudes for communication are important since their decisions can impact a business’s longevity.
As for the education requirements, Greg Bolan explains that most firms necessitate a bachelor’s degree. As per the CFA Institute’s recommendations, hopeful financial analysts should hold a relevant degree in finance, statistics, business, economics, or accounting.
Typically, employers don’t necessarily require a master’s degree. However, experts note that advanced education can help financial analysts climb their career ladders, landing better-paid positions for wealthy individuals.
Those looking to become a financial analyst may wonder what the future holds for their chosen career path. With the influx of machine learning and other technologies, many fear the job is declining. But thankfully, that isn’t the case.
Greg Bolan says that the field seems to be expanding at a steady pace. The BLS forecasts that employment for investment and financial analysts will grow by 9% between 2021 and 2031 — faster than the average estimated growth for all employment.
In eight years, there will be roughly 32,000 brand-new financial analyst jobs ready for hard-working hopefuls to fill.
Naturally, boosts in economic activity affect the financial analysts’ demand. Emerging industries (of which there are plenty) typically require analysts to guide their growth.
Globalization also plays a major role in the steadily increasing need for these professionals according to Greg Bolan . As markets develop worldwide, businesses lean on analysts to provide advice on where to invest or expand. Those with intimate understandings of economic, cultural, and political trends in various locations will be particularly sought-after as time goes on.
Overall, the future is bright for financial analysts.
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