What is a Financial Planning Analyst Job?
A Financial Planning Analyst Job is a profession that is responsible for analyzing, interpreting and making recommendations on financial data to help businesses make informed decisions. This role requires individuals to possess a keen eye for detail, strong analytical and problem-solving skills, and the ability to work under pressure. Financial Planning Analysts are in high demand in the finance industry and are instrumental in helping companies achieve their financial objectives.
What Usually Do in This Position?
In this position, Financial Planning Analysts are responsible for analyzing financial data, creating financial models, and providing recommendations to senior management. They examine financial statements, historical data, and market trends to identify potential areas of improvement and develop strategies to maximize profits. Financial Planning Analysts are also responsible for preparing budgets, forecasting financial performance, and creating financial reports that provide insights into the company's financial health.
Top 5 Skills for Position
- Analytical Skills
- Problem-Solving Skills
- Attention to Detail
- Financial Modeling
- Communication Skills
How to Become This Type of Specialist
To become a Financial Planning Analyst, individuals typically need a Bachelor's degree in finance, economics, or a related field. Candidates should also have experience working with financial data, and possess strong analytical and problem-solving skills. Some employers may also require candidates to have a Master's degree in finance or a related field. Professional certifications such as the Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA) can also be beneficial in advancing one's career in this field.
Average Salary
According to Glassdoor, the average salary for a Financial Planning Analyst is $65,000 per year in the United States. However, salaries can vary based on experience, location, and industry.
Roles and Types
Financial Planning Analysts can work in a variety of industries, including healthcare, finance, and technology. Some common roles within this profession include Financial Analyst, Budget Analyst, and Investment Analyst. Financial Planning Analysts can also specialize in areas such as retirement planning, tax planning, or estate planning.
Locations with the Most Popular Jobs in USA
According to Glassdoor, some of the top locations for Financial Planning Analyst Jobs in the United States include New York, NY, Chicago, IL, San Francisco, CA, Boston, MA, and Los Angeles, CA.
What are the Typical Tools
Financial Planning Analysts typically use a variety of tools to help them analyze financial data and make recommendations. Some common tools include Microsoft Excel, financial modeling software, and data visualization tools. Financial Planning Analysts may also use financial databases such as Bloomberg or FactSet to gather financial data and market intelligence.
In Conclusion
A Financial Planning Analyst Job is an exciting and challenging profession that requires individuals to possess a strong understanding of financial data and market trends. This role is critical in helping businesses make informed decisions and achieve their financial objectives. With the right education, experience, and skills, individuals can build a rewarding career in this dynamic field.