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

Рет қаралды 106,460

Күн бұрын

In this video we will be unboxing the role of a financial analyst which means I will be talking about that day in the life and things like the qualifications needed for this role and the kind of salary you can expect when you work as a financial analyst.
And if you seen any of my previous videos you probably know by now that my background comes from public accounting where I started out at pricewaterhousecoopers and then after that I transitioned out to the private Market of accounting and finance meaning working directly for the company rather than working for a public accounting firm
When I made that transition I first began as a financial analyst And so for the purpose of this video will be discussing the financial analyst role within the fp&a function at a company and for those of you who don't know.. fp&a stands for financial planning and Analysis.
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Пікірлер: 162

@PIA000 2 жыл бұрын

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? 👀

@huynhha4306 2 жыл бұрын

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!

@Madfox4you 3 жыл бұрын

Financial Analyst here, this dude is spot on

@TheFinancialController 3 жыл бұрын

Thanks madfox!

@dolbydave 2 жыл бұрын

do u like your job @madfox4you?

@gamerswarehousez 26 күн бұрын

Hi, can I 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?

@Madfox4you 26 күн бұрын

@@dolbydavelove it. Lot of autonomy and I make over 6 figures as an SFA now.

@Madfox4you 26 күн бұрын

@@gamerswarehousezvery hard to do it without a bachelors in finance or a masters in Finance. I knew a girl who had a bs. In marketing and had to go get an mba in finance to get a financial analyst position.

@ccleanon5576 Жыл бұрын

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

@NehaSharma-lk5ol 3 жыл бұрын

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

@TheFinancialController 3 жыл бұрын

Thanks Neha!

@Dagothdaleet 7 ай бұрын

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

@AdamSmith-hn5bo 2 жыл бұрын

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 11 ай бұрын

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

@Mannymak 11 ай бұрын

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

@TunXAM-hw1nk 10 ай бұрын

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

@user-vc9or5uc4x 2 ай бұрын

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

@gamerswarehousez 26 күн бұрын

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?

@roseballerine4395 2 жыл бұрын

Great content Bill! Appreciate it

@SBZ9400 Жыл бұрын

So much great information. Thank You!

@rosmaryalgarin9292 3 жыл бұрын

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 3 жыл бұрын

Thanks rosmary!

@alee2525 3 жыл бұрын

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

@TheFinancialController 3 жыл бұрын

Thanks Alex!

@Antowan 3 жыл бұрын

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

@TheFinancialController 3 жыл бұрын

Great :)

@baonguyenpham1999 Жыл бұрын

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.

@marsvelvetahh8538 2 жыл бұрын

This was a very helpful video!!

@manshuvkafle8207 7 ай бұрын

Thank you for the information!

@itiswhatitis1924 3 жыл бұрын

Thanks for explaining it in such a good way 👍😊

@TheFinancialController 3 жыл бұрын

Thanks for watching

@Apaclypse 9 ай бұрын

Beautiful video!

@carriedubo4909 2 жыл бұрын

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

@j1udu522 9 ай бұрын

this was so brilliant for me

@oanhluong7051 3 жыл бұрын

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

@elisemeeks5125 Жыл бұрын

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?

@nabalehamid3371 2 жыл бұрын

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 Жыл бұрын

An account executive is in the Sales department.

@car_go_vroom_vroom8602 2 жыл бұрын

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.

@genxiao8737 3 жыл бұрын

Thank you! I Like your videos!

@TheFinancialController 3 жыл бұрын

Thanks gen!

@Aly_._ 2 жыл бұрын

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

@anthonyeubanks6437 2 жыл бұрын

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?

@thekoptrend1769 3 жыл бұрын

Nice video! Keep going

@TheFinancialController 3 жыл бұрын

Thanks!

@kexinwang4875 3 жыл бұрын

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

@TheFinancialController 3 жыл бұрын

Nice Kexin. Best of luck!

@nadeemsahial2775 2 жыл бұрын

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?

@abdelrhmamashraf2635 3 жыл бұрын

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?

@lazynewranch 7 ай бұрын

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?

@gamerswarehousez 26 күн бұрын

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?

@mridulmishra3364 Жыл бұрын

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

@yosairysrichiez2957 Жыл бұрын

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

@ITSABIOWORLD 3 ай бұрын

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

@elllllllle939 2 жыл бұрын

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 Ай бұрын

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..

@clovely894 11 ай бұрын

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 5 ай бұрын

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

@bobvanalphen5050 3 жыл бұрын

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

@TheFinancialController 3 жыл бұрын

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

@arslanmughal2024 2 жыл бұрын

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

@holdingspace 2 жыл бұрын

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 2 жыл бұрын

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

@raiyaanhusain3529 5 ай бұрын

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

@ShawnFX 5 ай бұрын

@@raiyaanhusain3529 yea thats what I also thought

@holdingspace 4 ай бұрын

@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 4 ай бұрын

@@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?

@CoreyDaCreator 2 жыл бұрын

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 2 жыл бұрын

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 2 жыл бұрын

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

@TheFinancialController 2 жыл бұрын

Ok will do

@cletusgonsalves5446 Жыл бұрын

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

@nguoiyeugio4786 3 жыл бұрын

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

@carriedubo4909 2 жыл бұрын

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!

@pixiequeens1525 Жыл бұрын

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 9 ай бұрын

If you get an MBA it doesn't matter

@JoVa32908 Жыл бұрын

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

@TheFinancialController Жыл бұрын

yes

@786valerie Жыл бұрын

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

@r.b4889 Жыл бұрын

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?

@EpicNova12 Жыл бұрын

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 Жыл бұрын

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

@nicolasgaleano3086 2 жыл бұрын

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 2 жыл бұрын

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

@MAIZENA706 3 жыл бұрын

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 2 жыл бұрын

Face your fears if you haven't already

@dreamer8139 2 жыл бұрын

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

@tsepheltenzin3015 2 жыл бұрын

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 2 жыл бұрын

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.

@georgianbradford1117 2 жыл бұрын

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 2 жыл бұрын

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.

@nosiphegwele429 3 жыл бұрын

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 3 жыл бұрын

CFA is the way to go here

@valkyrie9553 3 жыл бұрын

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

@nosiphegwele429 3 жыл бұрын

@@valkyrie9553 Thank you so much

@nosiphegwele429 3 жыл бұрын

@@TheFinancialController Thanks for your response

@akashprabha8975 Жыл бұрын

@@valkyrie9553 what is cfa

@RizeNthryve Жыл бұрын

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!

@thatguy8628 3 жыл бұрын

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

@TheFinancialController 3 жыл бұрын

Sure will do!

@osmanahsan133 2 жыл бұрын

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

@TheFinancialController 2 жыл бұрын

Lots of tips in my videos! Best of luck

@gerardomoreira8586 Жыл бұрын

How is the work-life balance?

@mracisthy3732 Жыл бұрын

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

@ucheokoyeinuluonum4296 Жыл бұрын

Can you take someone with a CFI certificate?

@junenye Ай бұрын

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😅

@She_is_Chris 3 жыл бұрын

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 3 жыл бұрын

Yes is different. Will do!

@devarsh9815 3 жыл бұрын

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

@TheFinancialController 3 жыл бұрын

Bachelor in accounting or finance is best

@dees900 2 жыл бұрын

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

@meghanasuram Жыл бұрын

I recommend CMAand CFA

@dylantran4344 2 ай бұрын

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 2 ай бұрын

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

@mahamasim5058 2 жыл бұрын

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

@TheFinancialController 2 жыл бұрын

Yes that sounds great

@alaska340 2 жыл бұрын

Accounting rather

@florayuan9515 3 жыл бұрын

Is it possible to unboxing the role of management accountant?

@TheFinancialController 3 жыл бұрын

Sure

@malkiabenzy 2 жыл бұрын

Was your/his degree in accounting or finance?

@lynshinluuyun3771 2 жыл бұрын

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 2 жыл бұрын

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 2 жыл бұрын

@@TheFinancialController thankyou Sir😊😇

@littleceasar9351 2 жыл бұрын

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.

@selaseakama6102 Жыл бұрын

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

@TheFinancialController Жыл бұрын

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

@visionentertainment8006 Жыл бұрын

@@TheFinancialController Is a business management degree sufficient?

@farhanprasetyo9290 2 жыл бұрын

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?

@Julian-bs6nx 3 жыл бұрын

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 3 жыл бұрын

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

@Julian-bs6nx 3 жыл бұрын

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

@fpdk 3 жыл бұрын

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

@gavynmonday6061 2 жыл бұрын

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 2 жыл бұрын

An internship is good at any point in time

@gavynmonday6061 2 жыл бұрын

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

@rudrakshsachdeva6204 2 жыл бұрын

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

@skabirhossain1613 Жыл бұрын

Yes if you have some finance related experience

@dawsonguam5700 Жыл бұрын

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 Жыл бұрын

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

@alani_n1865 2 жыл бұрын

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

@TheFinancialController 2 жыл бұрын

Yes

@alani_n1865 2 жыл бұрын

@@TheFinancialController great thank u !

@ismaelaye 2 жыл бұрын

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 2 жыл бұрын

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

@peterbradshaw8018 3 жыл бұрын

Some of this sounds like management accounting.

@TheFinancialController 3 жыл бұрын

True!

@joeknecht429 Жыл бұрын

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

@cyberneticwhitehat-student6296 3 жыл бұрын

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 3 жыл бұрын

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

@cyberneticwhitehat-student6296 3 жыл бұрын

@@TheFinancialController Ty for the answer.

@abdelhadiredouane4973 3 жыл бұрын

I have an exam of finance tomorrow 😅

@TheFinancialController 3 жыл бұрын

Good luck! :)

@peterbradshaw8018 3 жыл бұрын

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 3 жыл бұрын

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

@alexlittle8362 2 жыл бұрын

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

@martinlazar83 2 жыл бұрын

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

@valerylouis9555 2 жыл бұрын

What do you mean?

@llClassifiedll 2 жыл бұрын

@@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