It is truly amazing to discover what industries hire financial analysts. When most people think of jobs that require quick thinking, split-second decision-making skills, as well as nerves of steel, the words “financial analyst” usually don’t immediately spring to mind. In actuality, financial analysts have the skills to seek employment in a variety of diverse jobs.
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One of the top requirements of financial analysts is being a natural problem-solver. The analyst is the individual who looks over reams and reams of numbers that might seem overwhelming and is able to make sense of it. In addition to understanding it, great financial analysts are able to communicate their work in ways that non-finance people are able to understand and use the analyze for decision making.
Insurance Agencies
Financial analysts who are interested in helping individuals ensure their loved ones are taken care of in the event of an untimely demise might find themselves working for an insurance company. The analyst sits down with the customer and determines how much money is needed to provide for their loved ones, as well as how much money the customer can afford to pay. The analysts are skilled at looking at a customer’s budget, income, expenses, and tax status and determining the best insurance plan available. This particular job also requires an analyst with the ability to be comfortable discussing sensitive subjects with the customer.
Corporate Analysts
According to a Forbes article on big data, over half of all companies interviewed in 2017 said they were adopting big data. Big data processes gather massive amounts of data, but it is the financial analysts who take the raw data and work it into usable information. Analysts within a company are often called upon to find ways to take the information found in big data stores and make it something useful for the corporation. This includes examining trends in customer spending, client usage, as well as studying past performance and future projections.
Stock Analysts
Another area where financial analysts are incredibly important is found in the stock market. This is where it’s important to truly understand such diverse subjects as social trends and corporate finance. This is also an area requiring conviction and the ability to make decisions quickly and decisively. If a wrong decision is made, the consequences can be disastrous, but correct decisions can provide astonishing rewards.
Financial Institutions
Naturally, financial analysts will be found in financial institutions. Whether it is a bank, credit union, or financial lending corporation, financial analysts are needed to take big data information and break it down into useful numbers for the business. By spotting various trends, the financial analysts can suggest lending money to emerging markets, while cautioning against a risky investment in an area that is doing poorly.
In a recent Forbes article listing the 25 Most Promising Jobs for Millennials, financial analysts and advisors were showcased in the top half of the list. Financial analysts are vital for just about any growing business – both public and private. Their ability to take massive amounts of information and refine the data into tangible insights solid decisions make them stand out within the companies they work for.
