If you have ever thought about becoming a financial analyst, then this article is for you. You'll learn everything you ever wanted to know about becoming financial analysts work, how much they get paid, what kind of additional in-service training they need, how you can become a financial analyst, some of the dangers involved in the job, when you can expect to retire and how you can make difference in the lives of the people you serve.
At beginning of your career, it would be very busy, because you are learning and gaining experience in the field.
In general financial analyst gather information, assemble spreadsheets, write reports, and review all non-legal pertinent information about prospective deals.
A typical day of a financial analyst look like this: 7 a.m. – At home, check phone and email for any important messages before getting ready for work and commuting to the office. 8:30 am – Arrive at the office, respond to any urgent emails, follow-up on any outstanding items from the previous day. 9 a.m. – Finance team meeting to discuss changes that need to be made to the Q4-2018 budget model, including updates to assumptions and changes to forecast. 10 a.m. – Work on the budget model and make all updates and changes that were discussed in the meeting. 12:30 pm – Pick up lunch from a nearby deli and eat back at the desk while catching up on financial news and videos on Bloomberg.com. 1:30 pm – Start working on the updated version of the Q4 board presentation including updated PPT slides and graphs in Excel. 4:30 pm – Circle up with the manager and review changes to the budget model as well as the board presentation. 5:30 pm – Tend to some personal errands and respond to emails from friends. 6 p.m. – Finish up changes from the 4:30 pm meetings with the manager and finalize the Excel model and PPT presentation. 7 pm – Head out of the office and meet some friends for dinner or head home.
They normally work at the office, but now they can work fully remotely or a combination of both.
You have to study in a business school or to be certificated of a financial program at the university.
According to the Glassdoor website, a financial analyst in Montreal makes between 50-75k per year.
A bachelor degree will be not sufficient to keep working in that job. You will receive a special training in the beginning and throughout your whole career.
If you don't perform well, there is a risk of getting fired or staying at your level for the rest of your life with an average salary.
There is a big chance in the future for robots to replace a financial analyst, but it would be still necessary for someone to supervise those report made by robots.
It depends on the location but in general in Canada, you retire at the age of 55.
To conclude, the life of a financial analyst is busy. It could be a great experience to have if you have other project in mind, like creating your own business in the future.
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