Hey everyone, my name is Ned. Iโm the co-founder and CEO of 365. Weโve helped more than two and a half million people worldwide acquire career-enhancing skills. Today, I want to share my personal experience with you.
After graduating from university, it took about a year to land my first finance job as an M&A advisor, followed by three more years to transition into a financial analyst position at Coca-Cola.
But is it possible to become a financial analyst in a shorter time?
Absolutely.
I believe the answer is a resounding โyes.โ But a roadmapโwhich I initially lackedโand an understanding of the essential skills are crucial for job readiness.
I have often asked myself: If I could start over in financeโknowing what I know todayโwhat would be the best way to land a job sooner and succeed?
In the video, Iโll address this question, and hopefully, my knowledge will help you get hired as a financial analyst even if youโre a beginner. Watch until the end to learn about the mistakes Iโve made, so you can avoid them in your journey.
So, what's the first step to becoming a financial analyst?
I donโt need to think twice. The obvious answer is to start with Excel. Thereโs no way around itโat least for the foreseeable future. Weโll see how ChatGPTโs Data Analysis tool will develop in several years. But for now, Excel is the tool youโll use for all your work. In finance, lacking Excel skills is akin to being a handyman without a toolbox.
At the onset of my career, I fell into a common trap of beginner's overconfidence. Believing myself proficient in Excel after a university course and mastering basic functions, I overlooked the vast extent of what I had yet to learn.
I canโt stress enough that every effort you make during your prep stage will pay off a hundred-fold throughout your career. Ideally, youโll learn from a resource that shows you finance examples along the way and teaches you techniques that you can directly apply in your analyses later.
The 365 program's Excel courses show how financial analysts utilize Excel, highlighting how professionals across fields engage with spreadsheet tools. It's beneficial to learn from someone who's already navigated the career path you're pursuing.
To fully grasp accounting, dedicate hours to learning and practice, especially in identifying debit and credit entries in financial operations. Early in my career, lacking an audit background disadvantaged me. Comprehending bookkeeping and broader financial concepts without understanding these entries is challenging. Therefore, strong accounting skills are essential.
Youโre now prepared for these real-life projects: - Develop a Profit and Loss statement from scratch. - Examine product profitability and display various breakdowns, including year-on-year growth. - Construct and integrate a cash flow statement with the P&L and Balance Sheet. - Compare multiple financial periods side by side. - Chart financial data. - Professionally format your sheets.
Engaging in independent projects offers practical insights into a financial analyst's role before entering the workforce. This proactive approach enhances internship performance and significantly boosts job offer prospects. Trust me.
For access to complimentary real-world projects and datasets for practice, check out the Projects section at 365financialanalyst.com. We provided the link in the beginning, so please follow it for more insights.
Financial Ratios, Financial Modeling, Valuation, Industry Analysis, and Management Accounting. While optional for many financial analysts, mastering these can be highly beneficial. Each topic is thoroughly covered in our courses at 365 Financial Analyst.
Weโll continue to share career videos to help you on your journey to landing your dream job. Please ๐น๐ถ๐ธ๐ฒ, ๐๐ต๐ฎ๐ฟ๐ฒ, ๐ฎ๐ป๐ฑ ๐๐๐ฏ๐๐ฐ๐ฟ๐ถ๐ฏ๐ฒ ๐๐ผ ๐๐ต๐ฒ ๐ฏ๐ฒ๐ฑ ๐๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐๐ป๐ฎ๐น๐๐๐ ๐๐ต๐ฎ๐ป๐ป๐ฒ๐น if you find this video helpful.
