Unboxing The Financial Analyst Role | A Day In the Life, Salary & Qualifications

[@huynhha4306]

I am working at EY as a tax consultant. However, I had experience in accounting. Now, I want to work in Financial Analysis field. Thank for your video!

[@baonguyenpham1999]

1) creating operating budget - creating financial planning for the upcoming year --> predicting the revenue and expenses for the next year. - work closely with the leadership of the company, began with vision for the next 5 year of the company. - look at the backward the prior years. what is the renting expense last year? --> have a good picture which expense is going to next year. --> looking forward and backward and design what should be the optimal results for the upcoming year 2) create forecast model - still look backward and forward as creating operating budget - the difference is the budget is constant (lockdown for the upcoming year) but the forecasting model is dynamic (it changes as the different input and difference circumstances change in the business). EX: if you sign up really large customer --> this will not change the budget. however, this will change the forecast model because now the revenue will higher --> this is the unique position to make recommendations to management what you have to do in the business to make it more profitable. EX: look at the rent expense and how many employees in that office. 3) analysis - Compare the budget and actual financial results. - comment on any variance. 4) prepare presentation - prepare powerpoint slides for investor - highlighting the financial performance of the business 5) prepare info during M&A - prepare the financial information or data room (virtual) - a folder of lives in the computers - including projections for revenue and expenses for the business - including balance sheet and income statement.

[@Antowan]

Perfect. I'm a accounting and finance double major. So this Perfect for insight into my other degree half

[@TheFinancialController]

Great :)

[@AdamSmith-hn5bo]

Great Video! A certification that I got that helped me land my first FP&A job was the FMVA Course from CFI. It only costs $450 and takes about 3-6 months of independent study. It will help with the fundamentals and the practical application in Excel. Maybe a CMA would be helpful as well.

[@PhuongNguyen-ee2vt]

I have a question, do you. need to have prior experience or a bachelor degree to learn CFI?

[@Mannymak]

@@PhuongNguyen-ee2vti have the same question! I don’t have a degree in finance or accounting but in chemistry and neuroscience

[@TunXAM-hw1nk]

@@Mannymak as long as you know math you can do anything

[@user-vc9or5uc4x]

is it difficult to learn? i want to pivot out of billing coordinator roles.

[@gamerswarehousez]

So happy for you!! Btw do you know if people can land a Financial Analyst job by doing online certificates from Coursera and Udemy and maybe Google Certificates? Or a Master's Degree is a must to get a job in this role?

[@kexinwang4875]

Recently left big four audit and accepted a FA position :)

[@TheFinancialController]

Nice Kexin. Best of luck!

[@holdingspace]

I work as a Financial Analyst for a sell-side investment research firm but I'm leaving because they're reducing the workload for the project I was more or less hired for. Went from spending 1/2 of my time there to only about 1/16th. Looking forward to crack FP & A!

[@TheFinancialController]

Best of luck my friend. I am sure you gathered amazing experience and skill at sell side research

[@raiyaanhusain3529]

isn't fp&a and financial analyst the same thing?

[@ShawnFX]

@@raiyaanhusain3529 yea thats what I also thought

[@holdingspace]

@raiyaanhusain3529 financial analyst means you analyze Financials. in an fp&a role its more in House, like how capital markets roles are basically in house investment bankers. I was a financial analyst in a sell side research firm which basically meant I was an investment analyst but we sold the research to other firms like banks/fo/pe etc.

[@davidfabian5237]

@@holdingspace im going to graduate with 3.0-3.5 gpa at uic (not a top target school) any tips to get good paying job? just interships and get certificates?

[@PIA000]

This is such a creative and informative take on the whole concept of 'unboxing' videos! Instead of unboxing products, you're here unboxing roles! 😂 I'd definitely love to see more role unboxing videos or, possibly, a series on it even? 👀

[@clovely894]

This is annoying most positions don’t allow you to get the experience anywhere ! It’s so hard and unfair because if I go through six plus years in school …you still have to train no matter what !

[@moneymonarch8102]

I do all these but also manage a 700m PnL for 6 markets and manage operational projects

[@weirdooo4735]

I am holding a bachelors degree in finance, i know the course or things necessary for a financial analyst, great data analytics skills, can work on spss excel stata. Excellent excel skills for financial models and analysis. I know almost all the concepts of finance and have worked on many case studies. My question is can i land a job of financial analyst with a bachelor degree. Living in USA. Thanks in advance. Waiting for response

[@danimiaabi]

I'm seeing myself in this role very soon. Thanks for the imperative and thorough unboxing 👍

[@TheFinancialController]

Have fun!

[@nabalehamid3371]

Hi Sir. Can you make a video of the differences between an accountant or account executive with Finance analyst. Thank you :). Btw I love all your video. It helps me a lot when it comes to understand the basic principle of accounting

[@vboo91]

An account executive is in the Sales department.

[@gerardomoreira8586]

How is the work-life balance?

[@MAIZENA706]

I want to be a Financial Analyst but I'm afraid about Financial Modelling, I love finance, watching stocks, etc but like formulas and things like that creep me out, I havent started college yet, what should I do?

[@zhairewelch8291]

Face your fears if you haven't already

[@RizeNthryve]

Received my first job offer from Boeing right out of Grad as an FA. Starting pay 56K with 3-6 months promotions. Job rescinded because of credit. Whoops!

[@Dagothdaleet]

This was great. I wanted something like this for a career change

[@BOnline251]

Great content and advice!

[@NehaSharma-lk5ol]

Really helpful your videos for preparing the interviews for both accounting and finance. Thanks 😊

[@TheFinancialController]

Thanks Neha!

[@ITSABIOWORLD]

I’m currently a Branch Manager at a bank and this is a powerful career. Will the transition be smooth? I deal with half of what accounting has to do during my day to day operations

[@rosmaryalgarin9292]

i agree with everything you said in this video this is a powerful career and all of those things are so important things to take care about

[@TheFinancialController]

Thanks rosmary!

[@roseballerine4395]

Great content Bill! Appreciate it

[@osmanahsan133]

im looking for my first job out of college. any tips would be great. thank u

[@TheFinancialController]

Lots of tips in my videos! Best of luck

[@JoVa32908]

Quick question: would you consider working experience as a budget analyst a good foundation for financial analyst?

[@TheFinancialController]

yes

[@786valerie]

Yes! I went from Budget Analyst to financial analyst. Lots of overlap in the two roles.

[@SBZ9400]

So much great information. Thank You!

[@Aly_._]

Is finance/accounting associate experience also valuable towards becoming a financial analyst? What about tax experience? Thanks.

[@manshuvkafle8207]

Thank you for the information!

[@yosairysrichiez2957]

How do we get recruited by the Big 4? I apprecuate it your answer. Thanks!

[@arslan_TM]

I have experience with typical accounting tasks with minimum experience of Rolling forecasting, Now I wanted to shift to FP&A roles, Can you advise how can I enter this field, how can I apply for these roles and convince employers about my interest. I'm ACCA. Kindly advise

[@She_is_Chris]

Is there a difference between an Accounting Analyst and Financial Analyst? If so, can we have a video on the day in the life of an Accounting Analyst next, pls?

[@TheFinancialController]

Yes is different. Will do!

[@elllllllle939]

Could you elaborate on differences between FP&A and internal audit/control please. I’ve got these two choices and don’t know which one to choose. Thank you!

[@williamhowe2705]

Choose FP&A it will let add value to the business or organization...and increase your visibility to leadership... it's a fast track path to a CFO role..

[@bluegamerxt1386]

I becoming a financial analyst with out MBA . I am right or wrong

[@car_go_vroom_vroom_vroom]

I just decided to add Finance to my bsba, so I'll have a dual degree & hope to perhaps to get a financial analyst job.

[@oanhluong7051]

I am learning budget for department. I would greatly appreciate if you could please have a video to teach how to create operating budget in details. Thanks

[@bobvanalphen5050]

Would you suggest taking a masters degree in finance first to make the transition from public accounting to fp&a/fin analyst?

[@TheFinancialController]

No. I would rather you search for an analyst position straight away

[@junenye]

I have an interview and I am afraid I may not have the personality for this position. Can you be an introvert/not that expressive in such a role😅

[@lazynewranch]

As an operations manager and just being involved with running a department, what do you believe is transferable in that aspect to a financial analyst and would you consider that experience to be valid?

[@elisemeeks5125]

Great video! I am soon to graduate with a Biology BS and a minor in Small Business Management and Entrepreneurship. What would be the next best steps to get a position in finance?

[@dylantran4344]

im thinking of getting into this type of role, what would be the most ideal degree to focus on accounting? finance? double degree of both? and im thinking of getting my cpa too

[@TheFinancialController]

any of these degrees work, important thing is be dedicate to learning

[@r.b4889]

how do i learn financial skills? i am in AR type role but no actual financial analysis. Once I do it can I then apply for FINANCIAL ANALYST JOB?

[@gamerswarehousez]

Very useful video thanks for inside! Btw do you know if people can land a Financial Analyst job by doing online certificates from Coursera and Udemy and maybe Google Certificates? Or a Master's Degree is a must to get a job in this role?

[@valiant609]

Hey i know this video is a little older but i am currently a car sales man, I am wanting to become a financial analyst and am considering joining the navy if i can get financial analyst in the navy.. Should i do this or just go to college and pay out of pocket (i dont have much money) or just get a certificate?

[@littleceasar9351]

It’s very frustrating to already be a licensed CPA, yet no company respects you because you didn’t get hired by a big 4-6 firm right out of university. Might end up just working at Costco or Trader Joe’s.

[@carriedubo4909]

Similar to you in the first two step 🤩auditor in big 4 then financial analyst in a ToB saas company then financial analyst in another Internet company. i really find i like this job and will develop more in the next few years 😝base in China will master degree in accounting and just got CPA

[@arslan_TM]

Can I still be a financial analyst if I don't want to work on finalizing financial statements, a task typically handled by Big 4 accountants?

[@TheFinancialController]

yes

[@mridulmishra3364]

As someone who hires and interviews candidates... how helpful is a cfa level2 or 3 (with no exp in finance)?

[@marsvelvetahh8538]

This was a very helpful video!!

[@dreamer8139]

Bro my dream is financial manager but a junior accountant can be financial manager in future?

[@anthonyeubanks6437]

Currently have 10 years of acquisitions and procurement, and pursuing MBA (might specialize in Finance). Is knowing budgeting or financial software something teachable on the job? Or is that something I need to learn now?

[@Apaclypse]

Beautiful video!

[@mracisthy3732]

Can I apply for any Financial Opportunitiy job in Lockheed Martin by CFA certification?

[@ccleanon5576]

Please consider videos on how financial analyst and accountants should approach reporting/presenting financial results and recommendations to senior management.

[@j1udu522]

this was so brilliant for me

[@cletusgonsalves5446]

Hi, what is the average starting net salary (not the ctc) of someone who has completed Masters in Finance ?

[@nadeemsahial2775]

Hello! So quick question I’m a softmore working on my Finance degree and wanting to become a FA as soon as after graduating out of college. Will I get hired right away with my bachelors on hand?

[@ucheokoyeinuluonum4296]

Can you take someone with a CFI certificate?

[@alee2525]

your video is such a great help for me! Thank you so much!

[@TheFinancialController]

Thanks Alex!

[@abdelrhmamashraf2635]

Great video. Iam studying accounting and finance and Iam in the third grade. I will finish the CFA investment foundation soon what should i do next?

[@selaseakama6102]

How about the CFA qualification? Is it more preferred to MBA?

[@TheFinancialController]

Thery are very different. MBA provides the foundation, which is very important

[@visionentertainment8006]

​@@TheFinancialController Is a business management degree sufficient?

[@mahamasim5058]

I am thinking of doing my Bachelors in Finance and International Business. Is it worth it? Or should I change anything

[@TheFinancialController]

Yes that sounds great

[@alaska340]

Accounting rather

[@nosiphegwele429]

Great content. I am based in South Africa and I'm doing exactly what you have described here but my role is budget Controller. I have Bcom Financial Management and was planning to further my studies & do honors degree but someone advised me to do CFA. What's your take on this?

[@TheFinancialController]

CFA is the way to go here

[@valkyrie9553]

I’m from South Africa and I have Honours in Financial Management. Get on with CFA

[@nosiphegwele429]

@@valkyrie9553 Thank you so much

[@nosiphegwele429]

@@TheFinancialController Thanks for your response

[@akashprabha8975]

@@valkyrie9553 what is cfa

[@nguoiyeugio4786]

Thank you for the informative video! Does anyone know if Financial Analyst's roles are the same or different to Credit Analyst?!

[@carriedubo4909]

Financial analyst has very wide roles, i think credit analyst may be one of them that specifically doing analysis of credit risk in the bank. On my opinion, financial analyst can be very different in different industries, supporting regular business development including analyse past and forecasting , or building models for changing business mode, sales policies, developing new products, new cooperation projects, building new joint ventures, M&A...... But basically we only need have a great understanding of accounting and industries knowledge, great Excel skill is a must as well!

[@CoreyDaCreator]

I would like some advice if you could, I just enrolled myself in this Management Information Systems degree program and I'm leaning more towards the business side of things more so than the IT side of things. I was wondering even with this degree will I be able to become a financial analyst or do I need more credibility such as certifications stating that I can be a financial analyst.

[@RTB1400]

Your database and data management skills will be super useful in an FP&A role. You will need some accounting+finance credentials/experience to show that you can do the finance side of things in order to land a position and thrive in it. Happy to answer more questions.

[@ahmedal-khadouri2354]

Could you please explain the chief accountant role? And usually to whom would be reporting to? CFO ? Thanks 🙏

[@TheFinancialController]

Ok will do

[@nicolasgaleano3086]

What kinds of Software or Programming Languages are necessary for a career in financial analysis? I got my degree in Economics but was not taught anything about Excel or Languages like R or Python and have no experience so I'm confused on how to seem like an eligible candidate for the job.

[@TheFinancialController]

Excel is good to start. So I would lookup videos on excel tutorials for fin analysts

[@dawsonguam5700]

Do you think financial analyst have good work life balance? I'm going for a Bachelors in Finance, and I think I wanna become an analyst.

[@TheFinancialController]

Not great on the balance, not horrible either. But it has good career outlook and having a life of financial freedom

[@dees900]

should an aspiring financial analyst pursue a degree in accounting or rather in finance? Which is more appropriate? CPA or CFA?

[@meghanasuram]

I recommend CMAand CFA

[@florayuan9515]

Is it possible to unboxing the role of management accountant?

[@TheFinancialController]

Sure

[@pixiequeens1525]

Hi, great video. I am going to study BA (MBA is the plan) with a finance concentration. Do you think recruiters look for this as well? Since it’s not a finance major or accounting.

[@troythegreat777]

If you get an MBA it doesn't matter

[@malkiabenzy]

Was your/his degree in accounting or finance?

[@EpicNova12]

Great video. I am just coming out of college realizing I should have gotten a business degree, but I received a computer science degree instead. What is the best course of action for someone in my position trying to achieve this role?

[@TheFinancialController]

Based on what you said, I think you need a business degree. The dual major will be to your advantage.

[@thatguy8628]

hey, can u make a video on careers related to the stock market??

[@TheFinancialController]

Sure will do!

[@lynshinluuyun3771]

I hope you'll answer this I am a BSED MATH graduate and I want to be a financial analyst is it possible? How and where should I start?

[@TheFinancialController]

A little tough, but you can try to get into something entry level in accounting, billing, expenses and work your way. It can take a few years but worth it

[@lynshinluuyun3771]

@@TheFinancialController thankyou Sir😊😇

[@tsepheltenzin3015]

What's the best way to gain experience for this role after college? I am transitioning from a different career field and earned my finance degree. Thanks.😊

[@TheFinancialController]

learning on the job is the best way. I'd try to get a job or internship. Perhaps settle for a slightly lower pay to get decent learning/mentorship. Pick the boss who is willing to nurture you.

[@thekoptrend1769]

Nice video! Keep going

[@TheFinancialController]

Thanks!

[@Julian-bs6nx]

how many hours do you usually work because i am very interested but i don’t want to work 60-70 hour weeks year round

[@TheFinancialController]

It’s 45 hours at first but becomes 55 hours as you get more senior

[@Julian-bs6nx]

@@TheFinancialController do financial analysts have a busy season, and is 55-65k entry level reasonable

[@fpdk]

@@Julian-bs6nx Id say right out of college that’s pretty reasonable

[@alani_n1865]

If I majored in economics would this be one of the job options ?

[@TheFinancialController]

Yes

[@alani_n1865]

@@TheFinancialController great thank u !

[@genxiao8737]

Thank you! I Like your videos!

[@TheFinancialController]

Thanks gen!

[@devarsh9815]

Which course do you suggest me to make career in finance after high school ? In canada(Diploma, any university degree or anything??)

[@TheFinancialController]

Bachelor in accounting or finance is best

[@rudrakshsachdeva6204]

Can I become a financial analyst as a part qualified ACCA?or an intermediate CMA

[@skabirhossain1613]

Yes if you have some finance related experience

[@itiswhatitis1924]

Thanks for explaining it in such a good way 👍😊

[@TheFinancialController]

Thanks for watching

[@gavynmonday6061]

I’m an aspiring financial analyst and am a junior in college. I see you say that work experience is favored over an MBA for you personally. Would an internship be beneficial to do before you get your bachelors so you have that “experience” before getting the MBA? It would provide at least a little bit of work experience wouldn’t it?

[@TheFinancialController]

An internship is good at any point in time

[@gavynmonday6061]

@@TheFinancialController awesome, thank you. This video is very educational!

[@peterbradshaw8018]

Some of this sounds like management accounting.

[@TheFinancialController]

True!

[@georgianbradford1117]

Thanks for the video it is very helpful. I have a BSc in accounting and business management and an MSc in accounting and financial management with a 3.75 GPA. However, have no real-world experience as a financial analyst. Like you stated you rather experience over credentials what do you suggest as companies are looking for those with some physical experience and not willing to train.

[@TheFinancialController]

Hi, based on your edu, I suggest starting out as an entry level accountant (AP, AR, reporting) just to get in. An experience in Accounting will help you get an FA role in the future.

[@cyberneticwhitehat-student6296]

Every one values work experience while nobody give a chance to those without it.. A Fcking paradox. I am bored of it. Every time they ask for five years ,two years etc . Well give ppl the chance so they get that experience . Apart from that, the CFI diploma (not CFA) from the CFI group online does it worth anything in the market?

[@TheFinancialController]

Has some value, not a lot. So I would only do it if it’s low costs and effort

[@cyberneticwhitehat-student6296]

@@TheFinancialController Ty for the answer.

[@farhanprasetyo9290]

Hi, I am currently a student doing my bachelor's degree in Actuarial studies and Finance. I want to work as a finance analyst and I am planning to make use of my actuarial skill set to complement my analyses later on. How relevant do you think is actuarial in the field of finance analysts?

[@ismaelaye]

How would you advise someone with a B.S. in Mathematics with no finance experience that wants to get into this field of work? Would CFA be enough or would a Masters in Finance be preferable ?

[@TheFinancialController]

I would say a masters in Finance combined with getting into a entry level finance role

[@BOnline251]

I would defer here. Some of the highest-paying jobs in finance do not have Finance in their title. Look up Quant/Quantitative Analyst. With your background, I would learn programming (Python), get a graduate degree (or even a reputable education that is not a graduate degree) in data science/Analytics and pivot toward that field! Data science is one of the highest-paying job in Finance and elsewhere. It is basically a combination of math/statistics (the science) and programming (the tool). Good luck!

[@joeknecht429]

Thanks.. it’s a bit too general though. I was hoping for an actual day to day, shadowing type of video…

[@abdelhadiredouane4973]

I have an exam of finance tomorrow 😅

[@TheFinancialController]

Good luck! :)

[@alexlittle8362]

You are the worst type of employer. You can’t expect every candidate to have adequate experience. Everyone Has to start somewhere.

[@peterbradshaw8018]

Real world experience is overrated. Many of the best practices taught are sacrificed at the altar of expediency. Bad institutional practices that get broad tacit approval creep in and before you know it irregularities crop up.

[@TheFinancialController]

Have not heard this perspective before. But you make some valid points!

[@martinlazar83]

Financial analysis is like sports betting...you hope to win by 2 goals and end up losing by 3 goals...

[@valerylouis9555]

What do you mean?

[@llClassifiedll]

@@valerylouis9555 you’re analyzing forecasting (predicting the different outcomes in the future). But life is unknown so stuff isn’t always going to go how you forecasted (predicted) it. So it’s like betting