Certified Financial Analyst (CFA) Career Information
What a Certified Financial Analyst (CFA) does
Specialization has become the need of the hour, and it is true for the field of finance too. Although a relatively new area, a career as a Certified Financial Analyst (CFA) has become quite significant in today’s business and corporate scenario. As the name suggests, a CFA primarily analyzes finances on behalf of his/her clients.
The role of a financial analyst includes careful scrutiny of the details of the company in which his/her client wishes to invest.For this, studying financial reports is required, which a Certified Financial Analyst (CFA) does by conversing directly with officials of the organization and industry experts.Subsequently, the Certified Financial Analyst (CFA) has to prepare an in depth report of the findings to arrive to a conclusion concerning the purchase and selling of the company’s stock. At times, a financial expert may even have to analyze a takeover or merger of organizations.
With the changing scenario and growing requirements in the financial sector, many institutes have started offering courses for professional Certified Financial Analysts (CFAs). These courses will educate you in various essential subjects such as accounting, finance, economics, portfolio management and also business administration.
On the flipside, the job of a Certified Financial Analyst (CFA) involves strict deadlines, long working hours and the ability to multi task at times, so if you wish to be in this profession, be prepared for to work hard. Moreover, since Certified Financial Analyst (CFA) as a career option is still developing in India, jobs may be slightly difficult to get. In comparison to other financial and accounting jobs like Chartered Accountancy etc., Certified Financial Analyst (CFA) professional may have to work harder to find jobs. Internships while you are studying can help in getting a job later.
Like most other fields in Finance, the job opportunities for Financial Analysts are also on the rise. Insurance, Banking, Finance, Leasing Companies and both the government and the corporate sectors employ qualified CFAs.
Analysts can also study national and worldwide money matters or provide advice to corporates on investing their pension funds. Stocks and bonds are another area where CFAs can work, by specializing in determining the value of securities.
The career prospects and remuneration for qualified CFAs are growing, both in India and abroad. Usually, fresh graduates start as executive trainees. With experience, they can even go on to head their departments.
However, as mentioned earlier, a passion to work in this field and the willingness to toil are essential requirements to become a Certified Financial Analyst.
Abilities & Traits Required
The primary requirement for a Financial Analyst is to have a good numerical ability. CFA need to have sound financial knowledge as well, and should keep themselves updated about the latest developments in that area, including financial legislation and policies. As this job involves a lot of research, aspirants in this career should be dedicated, determined, hard working and patient.
You should have studied Mathematics, Social Science or Computers as a compulsory subject at the 10+2 level. A background in finance and accounts is important. Good technical knowledge in computers and analytical tools can be an advantage. Advanced professional courses that offer specialized degrees (like the CFA program) will stand you in good stead in this profession.
A beginner in this profession can expect a salary of about Rs.15000-20000 per month. With experience, CFA can earn a lot more.