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Financial Analyst II

Overview, Education, Careers Types, Skills, Career Path, Resources

Financial Analyst II roles involve analyzing financial data, preparing reports, and providing insights to guide investment decisions and improve financial performance.

Average Salary

₹7,00,000

Growth

high

Satisfaction

medium

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Educational Requirements

Education Requirements for Becoming a Financial Analyst II

A Financial Analyst II typically requires a strong educational foundation in finance, accounting, or a related field. Here's a detailed breakdown:

  • Bachelor's Degree: A bachelor's degree in finance, accounting, economics, or a related field is the minimum requirement. Coursework should include financial accounting, corporate finance, investment analysis, and statistics.

  • Master's Degree (Preferred): Many employers prefer candidates with a Master's degree in Finance (MFin), MBA with a concentration in Finance, or a related advanced degree. A master's degree provides more in-depth knowledge and analytical skills.

  • Certifications:

    • Chartered Financial Analyst (CFA): The CFA designation is highly regarded in the finance industry and demonstrates expertise in investment management and financial analysis. It requires passing three rigorous exams and several years of relevant work experience.
    • Certified Management Accountant (CMA): The CMA certification is suitable for financial analysts focused on internal financial management and accounting. It involves passing two exams.

  • Skills and Knowledge:

    • Financial Modeling: Proficiency in building and using financial models for forecasting and analysis.
    • Data Analysis: Strong analytical skills and experience with statistical software (e.g., Excel, R, Python).
    • Accounting Knowledge: A solid understanding of accounting principles and financial statements.
    • Communication Skills: Excellent written and verbal communication skills to present findings and recommendations.
    • Problem-Solving: Ability to identify and solve complex financial problems.

  • Experience:

    • Typically requires 2-4 years of experience in a financial analyst role or related position. Prior experience should include financial planning, budgeting, forecasting, and financial reporting.
Study Path
Top Colleges

To pursue a career as a Financial Analyst II in India, consider these top colleges and institutions offering relevant courses:

  • Indian Institutes of Management (IIMs):

    • Courses: MBA in Finance
    • Description: IIMs are premier management institutes offering comprehensive MBA programs with a strong focus on finance.

  • Indian Institute of Technology (IITs):

    • Courses: MBA, Master's in Economics, Master's in Finance
    • Description: IITs offer management and economics programs that provide a strong analytical foundation for finance roles.

  • Delhi University (DU):

    • Courses: B.Com (Hons), M.Com, MBA in Finance
    • Description: DU's commerce and management departments are highly regarded, offering a range of programs suitable for aspiring financial analysts.

  • Narsee Monjee College of Commerce & Economics, Mumbai:

    • Courses: B.Com, M.Com, MBA
    • Description: A top-ranked commerce college known for its strong industry connections and comprehensive curriculum.

  • Symbiosis School of Economics, Pune:

    • Courses: B.Sc. (Economics), M.Sc. (Economics)
    • Description: Offers specialized economics programs with a focus on quantitative analysis and financial modeling.

  • Christ University, Bangalore:

    • Courses: B.Com, M.Com, MBA
    • Description: Known for its rigorous academic standards and industry-oriented programs in commerce and management.

  • Loyola College, Chennai:

    • Courses: B.Com, M.Com
    • Description: A well-reputed college offering strong undergraduate and postgraduate programs in commerce.
Fees

The fees for courses and certifications required to become a Financial Analyst II can vary widely depending on the institution and type of program. Here’s a general overview:

  • Bachelor's Degree:

    • Government Colleges: ₹20,000 - ₹50,000 per year
    • Private Colleges: ₹80,000 - ₹3,00,000 per year

  • Master's Degree (MBA or MFin):

    • Government Institutes (e.g., IIMs): ₹4,00,000 - ₹12,00,000 for the entire program
    • Private Institutes: ₹8,00,000 - ₹25,00,000 for the entire program

  • CFA Program:

    • Enrollment Fee: One-time fee of approximately $400 (₹30,000 INR)
    • Exam Fee (per level): Approximately $700 - $1,000 (₹50,000 - ₹75,000 INR) per level. There are three levels.
    • Total CFA Fees: Approximately ₹1,80,000 - ₹2,55,000 INR

  • CMA Program:

    • IMA Membership Fee: Approximately $250 (₹18,750 INR) per year
    • CMA Entrance Fee: Approximately $300 (₹22,500 INR)
    • Exam Fee (per part): Approximately $415 (₹31,125 INR) per part. There are two parts.
    • Total CMA Fees: Approximately ₹1,03,500 INR

  • FRM Program:

    • Enrollment Fee: Approximately $400 (₹30,000 INR)
    • Exam Fee (per part): Approximately $475 (₹35,625 INR) per part. There are two parts.
    • Total FRM Fees: Approximately ₹1,01,250 INR
Related Exams

To excel as a Financial Analyst II, several exams and certifications can significantly enhance your career prospects. Here’s a detailed look:

  • Chartered Financial Analyst (CFA) Program:

    • Description: The CFA Program is a globally recognized standard for investment professionals. It covers a broad range of topics, including investment tools, asset valuation, portfolio management, and wealth planning.
    • Exams: The program consists of three levels, each requiring a separate exam. These exams are rigorous and test candidates on their knowledge and application of financial concepts.
    • Benefits: Earning the CFA charter can lead to higher earning potential, better job opportunities, and increased credibility in the finance industry.

  • Certified Management Accountant (CMA):

    • Description: The CMA certification is designed for financial professionals working inside organizations. It focuses on financial planning, analysis, control, and decision support.
    • Exams: The CMA exam has two parts: Financial Planning, Performance, and Analytics, and Strategic Financial Management.
    • Benefits: The CMA certification is highly valued in corporate finance roles and can enhance career advancement opportunities.

  • Financial Risk Manager (FRM):

    • Description: The FRM certification is for professionals who manage risk. It covers topics such as market risk, credit risk, operational risk, and integrated risk management.
    • Exams: The FRM exam has two parts, both of which must be passed to earn the certification.
    • Benefits: The FRM certification is ideal for those working in risk management roles in banks, investment firms, and other financial institutions.
Exam NameExam Date
Pros And Cons

Pros

  1. High earning potential and career growth opportunities.
  2. Intellectually stimulating and challenging work.
  3. Opportunity to make strategic business decisions.
  4. Develop expertise in financial markets and investments.
  5. Work in diverse industries and roles.
  6. Continuous learning and professional development.
  7. High demand for skilled financial analysts.
  8. Opportunity to work with cutting-edge technologies.
  9. Contribute to company's financial health and success.
  10. Exposure to global financial markets.

Cons

  1. High-pressure environment with tight deadlines.
  2. Long working hours, especially during peak seasons.
  3. Requires continuous learning and adaptation.
  4. Job can be stressful due to market volatility.
  5. Potential for job displacement due to automation.
  6. Ethical dilemmas may arise in financial decision-making.
  7. Requires strong attention to detail and accuracy.
  8. Market downturns can impact job security.
  9. Dealing with complex regulations and compliance.
  10. Responsibility for significant financial outcomes.