Financial Analyst Career in India: How to Get Started and Succeed

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A financial analyst is crucial in building companies towards strategic growth and financial stability in a complex and dynamic business world. With India’s rapidly growing economy and expanding financial sector, a promising environment for aspiring financial analysts is on the rise.

Given how crucial the role is in today’s fast-paced business environment, you have numerous career opportunities and diverse roles to choose from across various sectors.

So, whether you are a recent graduate or looking to transition into finance, you need a combination of educational background, skills and personal qualities, to start a career as a Financial Analyst.

Here is a detailed guide to take you through everything you need to know about starting a successful career as a financial analyst and getting a competitive financial analyst salary in India.

Who is a Financial Analyst?

A financial analyst is a skilled professional who analyses data/information to help businesses and individuals make investment decisions. They also help companies to make decisions on how to spend money and increase their profits. They play a crucial role in evaluating financial performance, identifying trends and providing strategic recommendations to management.

Some of the key roles & responsibilities include:

• Collecting and organising financial data from sources to analyse and evaluate the information, identifying trends and being able to prepare reports based on the analysis.
• Assessing the best investment options and working on capital budgeting for new projects.
• Identifying potential financial risks and strategies to mitigate them.
• Creating and optimizing budgets for efficient resource allocation.
• Work with different departments to review financial information and forecasts.

Essential Skills Every Financial Analyst Must Have

Given that the role is pivotal for businesses and has a list of critical responsibilities to look into, a financial planner should have an amalgamation of skills including technical, analytical and soft skills to grow in their career. Here is a more detailed overview of the must-have skills.

• Technical Skills:
  • Proficiency in tools such as Excel, Python and SQL is necessary for data manipulation and analysis.
  • Hands-on experience in creating financial models that help forecast future financial outcomes.
  • Understanding financial software and knowing of databases and systems.
  • Knowledge of accounting principles and financial reporting standards.

• Analytical Skills:
  • Ability to analyse complex data, identify problems and create strategic solutions.
  • Predict future trends.
  • Being able to develop strategies to mitigate financial risks.
• Soft Skills:
  • Problem-solving skills: Ability to identify problems, analyse situations and come up with solutions.
  • Critical Thinking: Being able to critically evaluate information and make informed decisions.
  • Research Skills: Ability to research and gather information from various sources.
  • Collaboration: Can work in teams.

Step-by-Step Guide to Becoming a Financial Analyst in India

Step 1: Start with getting a Bachelor’s degree in finance, accounting, economics or a related field. Next, consider studying further to advance in your career as a financial analyst. A PGDM in Finance from MIT Online India is just what you need. The curriculum is aligned with the latest industry trends and is equipped to provide students with practical and theoretical skills.

Step 2: Most employers look to hire individuals with more hands-on experience in the field. MIT Online India offers internships with top companies, giving you an understanding of the current market. You can also take on entry-level jobs that help you learn the foundations of the field while helping you develop technical skills and build your portfolio.

Step 3: While you typically need to get a license or certification, having a certification will increase your chances of landing a job and credibility in the field. On the other hand, some roles require you to be licensed. Some of the well-recognised certifications include CFA (Chartered Financial Analyst), NCFM (National Certifying Financial Manager) and the ACCA (Association of Chartered Certified Accountants).

Step 4: Staying updated about industry trends and networking is key for your career. MIT Online, one of the best PGDM finance management course in India has world-class faculty that have years of experience and industry expertise, providing you with the best knowledge to advance in your career. The course offers internships, workshops and a community to network and stay updated with the market.

Step 5: Consider specialising in an area of finance and getting practical experience. As you gain experience in the area, aim for leadership roles.

Get Started with MIT Online Financial Analysis Courses

MIT Online India offers one of the best pgdm finance management courses in India in a duration of 21-months. The program is a combination of online and recorded classes perfect for working professionals or those looking to get a degree without having to relocate. MIT Online India has an excellent faculty on board along with an industry-backed curriculum that provides you insight into the latest market trends and gain theoretical and practical knowledge. The PGDM in finance program is AICTE (All India Council for Technical Education) approved, making it a great choice to accelerate your career. You also get 100% placement with MIT Online India.

Career Growth & Salary Expectations for Financial Analysts in India

Financial analysis in India is a promising career with numerous growth opportunities. The industry is expected to see more growth, which typically creates more opportunities and you can advance in your career to roles like Senior Financial Analyst and Financial Manager with a great financial analyst salary.

Entry-level: Freshers can expect around ₹2.9 lakh per year.

Mid-level: Once you have worked in the industry for quite some time, you can expect a salary of around ₹4.3 lakh per year.

Senior-level: Seasoned financial analysts can earn up to ₹13 lakh or more.

Future Trends in Financial Analysis

Financial analysis is an evolving field driven by technological advancements which are changing the market dynamics. Here are a few trends to look out for that will shape the field of financial analysis.

• Artificial intelligence and machine learning will continue to automate routine tasks, improving risk assessment.
• Blockchain could enhance transparency and security in financial transactions and reporting.
• The focus will move to green finance initiatives such as green bonds and sustainable investments.
• In this digital world, cybersecurity will become a critical aspect of financial analysis.

Enrol for a PGDM in Finance from MIT Online India

Starting a career as a financial analyst in India presents itself with a wealth of opportunities. With the right education and hands-on experience, you are sure to excel in your career as a Financial Analyst. However, to reach heights in the field your foundation should be strong, which you will be able to build with education from a top educational institution such as MIT Online India. From AICTE-approved PGDM program courses to industry-backed curriculum, MIT Online India’s PGDM in finance is your path to starting a successful career as a financial analyst in India.

Also read:

1. Which PGDM Specialization is the Best for You?
2. From Beginner to Pro: How to Build a Successful Career in Supply Chain Management
3. How to Become an Investment Banker in India: A Step-by-Step Guide