The Fastest Way To Become a Financial Analyst (ะฐnd Get a Job)
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Published 2024-01-25
Hey everyone, my name is Ned. Iโm the co-founder and CEO of 365.
Weโve helped more than two and a half million people worldwide acquire career-enhancing skills. Today, I want to share my personal experience with you.
After graduating from university, it took about a year to land my first finance job as an M&A advisor, followed by three more years to transition into a financial analyst position at Coca-Cola.
But is it possible to become a financial analyst in a shorter time?
Absolutely.
I believe the answer is a resounding โyes.โ But a roadmapโwhich I initially lackedโand an understanding of the essential skills are crucial for job readiness.
I have often asked myself: If I could start over in financeโknowing what I know todayโwhat would be the best way to land a job sooner and succeed?
In the video, Iโll address this question, and hopefully, my knowledge will help you get hired as a financial analyst even if youโre a beginner.
Watch until the end to learn about the mistakes Iโve made, so you can avoid them in your journey.
So, what's the first step to becoming a financial analyst?
I donโt need to think twice. The obvious answer is to start with Excel.
Thereโs no way around itโat least for the foreseeable future. Weโll see how ChatGPTโs Data Analysis tool will develop in several years. But for now, Excel is the tool youโll use for all your work. In finance, lacking Excel skills is akin to being a handyman without a toolbox.
At the onset of my career, I fell into a common trap of beginner's overconfidence. Believing myself proficient in Excel after a university course and mastering basic functions, I overlooked the vast extent of what I had yet to learn.
I canโt stress enough that every effort you make during your prep stage will pay off a hundred-fold throughout your career. Ideally, youโll learn from a resource that shows you finance examples along the way and teaches you techniques that you can directly apply in your analyses later.
The 365 program's Excel courses show how financial analysts utilize Excel, highlighting how professionals across fields engage with spreadsheet tools. It's beneficial to learn from someone who's already navigated the career path you're pursuing.
To fully grasp accounting, dedicate hours to learning and practice, especially in identifying debit and credit entries in financial operations.
Early in my career, lacking an audit background disadvantaged me. Comprehending bookkeeping and broader financial concepts without understanding these entries is challenging. Therefore, strong accounting skills are essential.
Youโre now prepared for these real-life projects:
- Develop a Profit and Loss statement from scratch.
- Examine product profitability and display various breakdowns, including year-on-year growth.
- Construct and integrate a cash flow statement with the P&L and Balance Sheet.
- Compare multiple financial periods side by side.
- Chart financial data.
- Professionally format your sheets.
Engaging in independent projects offers practical insights into a financial analyst's role before entering the workforce. This proactive approach enhances internship performance and significantly boosts job offer prospects. Trust me.
For access to complimentary real-world projects and datasets for practice, check out the Projects section at 365financialanalyst.com. We provided the link in the beginning, so please follow it for more insights.
Financial Ratios, Financial Modeling, Valuation, Industry Analysis, and Management Accounting. While optional for many financial analysts, mastering these can be highly beneficial. Each topic is thoroughly covered in our courses at 365 Financial Analyst.
Weโll continue to share career videos to help you on your journey to landing your dream job. Please ๐น๐ถ๐ธ๐ฒ, ๐๐ต๐ฎ๐ฟ๐ฒ, ๐ฎ๐ป๐ฑ ๐๐๐ฏ๐๐ฐ๐ฟ๐ถ๐ฏ๐ฒ ๐๐ผ ๐๐ต๐ฒ ๐ฏ๐ฒ๐ฑ ๐๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐๐ป๐ฎ๐น๐๐๐ ๐๐ต๐ฎ๐ป๐ป๐ฒ๐น if you find this video helpful.
โบ Visit our website: bit.ly/46xFPzd
โถ Follow us on LinkedIn: www.linkedin.com/company/68850993
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โถ Follow us on Instagram: www.instagram.com/365financialanalyst/
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All Comments (21)
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๐ ๐ฆ๐ถ๐ด๐ป ๐๐ฝ ๐ณ๐ผ๐ฟ ๐ข๐๐ฟ ๐๐ผ๐บ๐ฝ๐น๐ฒ๐๐ฒ ๐๐ถ๐ป๐ฎ๐ป๐ฐ๐ฒ ๐ง๐ฟ๐ฎ๐ถ๐ป๐ถ๐ป๐ด ๐๐ถ๐๐ต ๐ฑ๐ณ% ๐ข๐๐ โก bit.ly/3SPJ29y
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What a great way to start educating yourself on what to look before entering the financial industry. Thank you.
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Kindly advice: Which is best? Accounting or finance analyst? In terms of compensation /job security and work life balance?
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What are good entry positions to lead up to the position of financial analyst?
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How difficult would it be for an AR specialist to shift into a financial analyst?
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โTo excel in financeโโฆI see what you did there
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I have no degree in Accounting and in a unplanned career as Finance Manager, I do a lot of analysis, GL accounting etc and closing month end, this is very informative as i like to progress in my analytical skills. Thank you
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Im 28 years old with a post graduation in commerce and do not have much experience. I dont know which area i should apply for. Could please help me with this?
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As someone looking for financial freedom in my future this looks like genuine helpful advice. I just want to have a job that pays enough to live comfortably so I can work on my business ideas. Itโs nice that I can have something to work towards now at 18 as many people like me donโt have a path chosen yet. Thank you for helping!
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please breakdown the difference between a commercial analyst and a financial analyst? Are they the same roles?
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do i need to opt CFA if i want to become financial analyst
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Thank you for this video. I'm thinking about switching career from being an accountant to FA. This is a great start
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Good luck ๐ I love you
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Begins at 1:24
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Very educative
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Amazing greatโคโค
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Sounds like an accountant to me. ๐
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Hello Sir In order to be a financial analyst, do you need to have a deep understanding of GL accounting processes and procedures, I mean practical exposure?
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is this course in udemy?
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I am taking up your course
