Financial Analyst

National Occupation Classification Code: 1112
Employment Outlook: Above average growth with turnover
Minimum Educational Requirement: 4 years post-secondary education/training
Search Educational Institutions in Alberta for Training Programs: EDinfo


OCCUPATION INFORMATION YOU NEED TO KNOW:

OCCUPATION INFORMATION YOU NEED TO KNOW:

Can I practice as Financial Analyst right away?

Yes. It is possible to apply for jobs in securities firms and large institutions such as banks, pension funds and with government offices. However, most prospective employers would like their analysts to have several years of relevant work experience and at least one university degree.

Furthermore, most employers prefer or require their junior analysts to complete the Chartered Financial Analyst program offered through Chartered Financial Analyst Institute (CFA Institute), formerly the Association for Investment Management and Research.

What are the duties for this occupation?

Financial analysts typically work for securities firms, investment banking firms, trust companies, accounting firms, investment counseling firms, and insurance companies. They collect detailed information about the economy, companies and investment options and analyze the data to make financial and investment plans to their company and its clients.

Most Financial Analysts specialize in certain markets (stock, bond real estate) or in specific industries (oil & gas, banking, telecommunications).

The following table outlines the essential

In Securities Firms and investment departments In Banks, pension funds, governments
*defines possible risks and potential returns from investments *monitors national and international stock and bond markets
*makes recommendations regarding investments that will help clients reach their financial goals *monitors national and international economic conditions
*evaluates the securities of companies *follows major Canadian and international industries such as oil & gas, forestry, banking, mining and telecommunications
*estimates the future earning power of each company *conducts in-depth studies of companies or investment opportunities relevant to the requirements of their organizations

Other important skills includes being:
*proficient with various computer programs and tables required to produce financial reports
*up to date with industry trends and analysis tools

View the general occupation profile and employment outlook information as developed by the Government of Alberta � Alberta Learning: ALIS Occupation Profiles

Please note that this is general information provided as guidance and companies may have different specific requirements in their job postings and job descriptions.

What titles or specialization areas correspond to this occupation?

Titles and positions that employers may post:
* Securities Analyst
* Investments Analyst
* Research Associate
* Business Analyst
* Portfolio Manager
* Investment Counselor
* Money Market Analyst

View the profiles of CFA Members

Also view the occupational profile of:
*Investment Advisor
*Operations Research Analyst

READ MORE�See a long list of all related job titles in Canada available at the Federal Government web JobFutures

How do I attain the CFA designation?

*Search Post-Secondary Educational Institutions in Alberta to see all programs and courses offered to individuals pursuing a finance career in Alberta: Alberta Learning Information Service - EDinfo

Since there are no formal prerequisites for applying to the self-study Chartered Financial Analyst program, you simply need to meet the following three entrance requirements:

  1. You have a U.S. Bachelors degree (or equivalent) or 4 years of relevant, qualified and professional work experience
  2. Complete the registration and enrollment form and pay the required fees
  3. Be prepared to take the examinations in English

When applying for jobs, preference will be given to those with a degree relevant to the industry and professional work experience.

What salary can I expect?

According to the 2003 Alberta Wage and Salary Survey, the salary of Financial Analysts ranged from $18,900 to $81,800 per year. The average salary was $57,100 per year.

A general salary range for Alberta is available at the web site of Alberta Learning Alberta Learning Ministry.

The Government of Canada also tracks wages for this

What is the employment outlook in Calgary?

The Financial Analyst and Investment Analyst occupation group employs over 3,200 Albertans. It is forecasted that 40-80 new positions will be created each year in addition to job openings created by employment turnover.

The Calgary Society of Financial Analysts currently has 609 members, 92% of whom have CFA designation. The following is a breakdown of member titles/occupations:

Analyst, Equity & Fixed Income. . .6%
Analyst, Other. . .9%
CEO, Chairman, Partner, Principal. . .8%
Chief Investment Officer. . .6%
Investment Banker. . .10%
Investment Counselor. . .9%
Investment Firm Manager. . .6%
Portfolio Manager. . .11%
Sales/Marketing. . .4%
Securities Trader. . .9%

What do employers expect beyond technical skills?

Financial Analysts work in a fast paced environment, with people often depending on them for concise and up to date financial information and analysis. Financial Analysts may work alone or with a team in gathering information and analyzing results to produce reports. Some non-technical skills include:

*Understanding of internal audit technology tools, benchmarking for best practices, and knowledge management.
*High self-motivation and comfortable working in a fast-paced, dynamic environment.
*Detailed orientation with attention to accuracy along with timely delivery.
*Good interpersonal skills and ability to interact effectively with all levels of employees to include senior. management.
*Strong communication skills, including the ability to clearly, concisely and diplomatically communicate over the telephone, in writing, and in person with other employees to include senior management while achieving job responsibilities and departmental goals.
*Effective reading and comprehension skills (business memos, correspondence, policies and procedures).

READ MORE�Employer

WHAT YOU NEED TO DO:

Start Your Application for Licensing

There are 3 ways to register for the CFA program:

1. Register online through Online Candidate Registration & Enrollment, a completely electronic registration process via the Internet.
2. Download forms from the Web. The necessary forms plus registration and enrollment information are available on the Web at www.cfainstitute.org/cfaprogram.
3. Obtain a CFA Exam Registration and Enrollment Package. If you�d prefer to be mailed a printed version of the materials, please call the Information Central Department at 1-800-247-8132 or 434-951-5499.

Research Career Options and Stay Connected

*Connect with Professional Associations

Contact professional associations in your field to start networking and understand what specialized training is available for experienced professionals:

- Chartered Financial Analysts Association
- The Calgary Society of Financial Analysts
- Canadian Securities Institution
- Investment Dealers Association

*Understand Related Occupations
Search Occupation Profiles under accountant or finance and identify related occupations at the website of the Alberta Government � Alberta Learning

*Research Employers in Calgary and Alberta:
Gather information about Calgary employers in the finance industry, and take a look at the technical and soft skills requested in job postings.