How to Become a Financial Analyst With No Experience

So you’ve decided to launch your career as a financial analyst but you don’t have any experience. No worries, it’s a common problem that many new finance professionals face. Luckily, there are a few things you can do to get your foot in the door and start climbing the ladder in the financial analytics field.

In this blog post, we’ll take a look at what you need to do to become a financial analyst with no experience.

Get Educated

The most obvious and important step to take when becoming a financial analyst is to get educated. You’ll need to obtain at least a bachelor’s degree in a finance, economics or accounting field to qualify. Post-graduate and doctoral degrees in finance or economics can also be advantageous, especially if you’re looking for a higher level position.

Versed With Financial Laws and Practices

Once you’ve got your education, you’ll need to become versed in the financial laws and practices that will shape your daily work. You should waste no time in becoming deeply familiar with things like corporate finance, accounting principles, financial statement analysis, investment analysis, and derivatives.

Develop Technical Skills

As a financial analyst, you’ll need some pretty high-tech skills to get the job done. Demonstrating you know your way around computers and software, such as Microsoft Excel or financial forecasting tools, will give you an edge over other candidates. There are plenty of courses online that can teach you the basics and even advanced skills.

Learn About Artificial Intelligence

If you really want to stand out in the field of financial analytics, you should consider learning about artificial intelligence (AI). AI technologies are quickly becoming more commonplace in the finance sector, and understanding how AI can be used to improve the accuracy of financial forecasts could give you an advantage over competing candidates.

Networking

Last but not least, in the business world, who you know can be just as important as what you know. Investing time into building and nurturing relationships in the finance industry can open doors that may otherwise remain closed to you. Reach out to professionals in the field and network appropriately to get the ball rolling.

Wrapping Up

Becoming a financial analyst with no experience is definitely possible as long as you take the right steps. Keep in mind that things like education, technical savvy, AI expertise, and networking are key elements of success. With a bit of hard work and dedication, you should have no trouble building a successful career as a financial analyst.