Working as a financial analyst

Financial analysts are highly desirable in the current market, as businesses focus on what costs they can manage more effectively to drive future growth.

If you enjoy interpreting financial data and making strategic recommendations that impact a company’s bottom line, this career path could be the right one for you.

What does a financial analyst do?

People in this role are responsible for assessing financial data, identifying trends, and providing insights that help businesses make informed decisions. This can involve analysing budgets, forecasts, and variances, as well as offering strategic recommendations to improve performance. It is a highly analytical career choice, with a focus on understanding the financial health of an organisation.

How to become a financial analyst

You will require need a solid educational background for this role. Most employers require a tertiary qualification in accounting or finance. In Australia, financial analysts are often CA qualified, and those working in financial services may also hold a CFA qualification. Building experience in budgeting, forecasting, and variance analysis is essential to thrive in this field. 

Skills and attributes required

Key skills

To succeed as a financial analyst, you need a mix of business acumen and accounting expertise. Here are some essential skills:

• Post-qualification experience in budgeting, forecasting, and variance analysis

• Strong financial systems knowledge

• High level of computer literacy, particularly in spreadsheets and reporting

• Analytical mindset with a focus on process improvement

These skills not only allow you to assess a company’s financial performance but also enable you to recommend strategic actions based on your findings.

Key personal attributes

In addition to technical skills, there are several key personal attributes that will help you excel in this field:

• Process improvement focus: You will be able to use your analysis to identify key areas of cost saving or areas where performance can be improved across the business.

• Commercial awareness: You need to be confident in the recommendations you make based on your analysis and how these recommendations impact the rest of the business.

• Attention to detail: A high level of accuracy is essential when analysing financial data.

• Deadline-driven: Meeting strict reporting deadlines is a standard expectation in this role.

 
Career progression and prospects 

As you gain experience, you may progress to a senior role, where you’ll take on more responsibility, such as mentoring junior analysts and contributing to strategic decision-making at higher levels within the organisation.

Proven financial analysts have strong career prospects in Australia. Many advance to roles like business analysts, finance managers, or even commercial managers. With experience and the right qualifications, the career opportunities for progression in this field are vast.

Magic CV words: Using the right language

When crafting your CV, using the right keywords can make all the difference in catching a recruiter’s eye. Highlighting relevant experience and competencies will not only demonstrate your expertise but also set you apart from other candidates. Here are some "magic CV words" that will make your application stand out:

• 'Big 4'

• Overseas experience

• Process improvement

• Planning

• Reporting

• Analysis

Once you have nailed your CV, check out our six expert tips to prepare for your next financial interview.

How much do a financial analysts make in Australia?

In Australia, salaries for this role are between $95,000 and $160,000, depending on years of experience and industry. Senior positions typically command higher salaries, especially in large corporations or financial services. Explore our Salary Guide for more information around salary expectation.

Explore opportunities

The role of a financial analyst is more vital than ever as companies look to make data-driven decisions in a competitive market. If you enjoy working with numbers and using financial data to influence business strategy, this is a career where you can make a significant impact.

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