How to Become a Financial Analyst: Career Guide, Courses, After 12th, Eligibility, Entrance Exams, Top Colleges, Skills, Benefits, Salary

To become a Financial Analyst, candidates have to clear class 12 from a recognised board and then pursue a bachelor’s degree in finance, economics, accounting or a related field. They can start looking for entry-level jobs but a master’s degree can be useful as it offers better career prospects.

The salary of a Financial Analyst is seen to be affected by the experience and skills possessed by professionals in India. The average annual salary of a Financial Analyst in India is INR 4.5 LPA. The highest salary is INR 12.1 LPA with the starting salary being INR 2.1 LPA.

There are many courses that can be pursued to become a Financial Analyst. BCom, BBA, BSc in Finance and MBA are some of the top courses. Certifications like CFA are also very relevant in the field and candidates should pursue them to demonstrate their expertise and skills.

SRCC, LRS, Woxsen University, Loyola College and NMIMS Mumbai are some of the top colleges for pursuing courses that can lead up to Financial Analyst jobs. IPU CET, JNU EE, CAT, MAT and CMAT are some of the top entrance exams for these courses.

How to Become a Financial Analyst: Quick Facts

Eligibility to Become a Financial Analyst

Candidates are required to meet certain eligibility criteria to become Financial Analysts in India. The standard eligibility criteria are as follows

• Education - Candidates are required to have a bachelor’s degree in finance, accounting, economics, business administration or a related field. A master’s degree can provide a competitive advantage.
• CFA Certification - The Chartered Financial Analyst (CFA) certificate is highly regarded in the finance industry. Candidates should pursue this or relevant certificates to demonstrate their expertise and boost their opportunities.
• Work experience - Many Financial Analyst positions require relevant work experience. Candidates can seek entry-level roles to apply their knowledge in practical scenarios and develop skills.

Qualifications to Become a Financial Analyst

There are no minimum education requirements to become a Financial Analyst in India. Candidates can pursue a bachelor’s degree in any stream to become a Financial Analyst. Though, degrees in finance and related fields are advisable. The general qualifications are as follows.

• Candidates should complete their bachelor’s degree in finance, accounting, economics, business administration or a related field.
• They should clear the CFA certification which takes place in three levels - CFA 1, CFA 2 and CFA 3.
• Candidates can also opt for a master’s degree like MBA for better career growth. They can choose disciplines like retail management, operations management, analytics and data science, marketing and HRM.

Steps to Become a Financial Analyst

To become a Financial Analyst in India, candidates have to go through certain steps that are mentioned in the following points.

• Complete class 12 - Candidates should clear class 12 with a minimum of 50% marks in any stream. They should focus on subjects like economics and accounting.
• Earn a bachelor’s degree - Candidates have to pursue a bachelor’s degree in any finance-related field. BCom and BBA are some of the top courses which candidates opt for. Candidates have to clear entrance exams to get admission to top colleges to pursue these degrees.

Candidates can start working after their bachelor’s degree at entry-level positions.

• Opt for a master’s degree - Candidates can pursue a master’s degree like MBA in Finance for better career growth and competitive pay.
• Enrol in an internship - Candidates get to understand the proper working of the finance industry through an internship. Internship teaches valuable skills and makes students job ready.

Financial Analyst Courses

There are many courses available for candidates aspiring to become Financial Analysts. BCom, BBA, BSc in Finance and MBA are some of the most popular courses. The details for some of the top courses are mentioned in the following table.

Entrance Exams

Candidates are required to appear in entrance exams if they are targeting top colleges for finance and related courses. Some of the most famous exams include IPU CET, DUET, JNU EE, CAT, XAT, MAT and CMAT.

The details for some of the exams are mentioned in the following table.

Top Colleges for Financial Analysts

Courses that can lead to a career as a Financial Analyst are offered by many colleges in India. The details for top banking colleges are mentioned n the table below.

Skills Required to Become a Financial Analyst

Candidates are required to develop a range of skills that are essential for performing the job of Financial Analyst effectively. Some of the top skills are tabulated below.

Benefits of Becoming a Financial Analyst

Some of the benefits that Financial Analysts enjoy are as follows.

• Financial Analysts establish credibility in the finance market by building good relationships with management teams.
• They work in varied industries like finance, marketing, technology, advertising, retail and e-commerce.
• They help businesses grow by delivering data-driven insights.
• Financial Analysts enjoy a high level of job satisfaction and job security compared to other professionals in the same field.

Salary of a Financial Analyst

The average annual salary of a Financial Analyst in India is INR 4.5 LPA. The starting salary for a Financial Analyst is INR 2.1 LPA with the highest salary being INR 12.1 LPA. The salaries for different Financial Analyst designations are mentioned in the following table.