Finance Business Analyst: Picking The Right Career For Your Future

One of the most successful career paths in the world of business belongs to the analyst. The general role of business and financial analysts is to examine the internal and external data to form a business decision.

Despite having almost similar roles, financial and business analysts have different functions and skill requirements. So, here is a brief overview of the role of a finance business analyst.

What’s the difference between finance and business analysis?

Business analysts are responsible for developing efficient business solutions. They are tasked with analyzing current trends, analyzing business data, and providing analysis reports on certain policy implementations within the company.

In addition to that, business analysts will usually engage with the tech team to understand how changes in products and services can increase the company’s value.

On the other hand, finance analysts are responsible for assisting individuals or corporations with their financial needs.

They use financial and economic data to assist their clients in setting the budget, navigating investment, increasing their profit, and many more. So, financial analysts are more specialized in the monetary part of a company.

The different skills of finance business analyst

As previously mentioned, different skills are required to thrive as a finance and business analyst. Here are the complete breakdowns of the different skill requirements for both careers.

Finance business analyst skills

Skills required by a finance business analyst include different interpersonal skills that are related to qualitative data analysis.

For instance, a business analyst may be tasked to identify any redundancies in a company’s workflow. For this kind of task, a business analyst’s reasoning skills and logic will be challenged. 

Read More  Four Ways To Manage Finance In Company—Tips For Small Businesses

Besides reasoning and logic, as a business analyst, you will also need good interpersonal communication skills.

This is because you will have to communicate with different employees within various departments with different seniority levels.

Finance analyst skills

Unlike business analysts, finance analysts put a bigger emphasis on their quantitative analysis skills.

If you’re interested in working as a finance analyst, you don’t need to be a mathematician since most of your work will be assisted by computer programs. Despite that, you still need strong skills in statistics, probability, trends, and distribution.

On top of that, as a finance analyst, you will also need a prominent knowledge of financial laws and regulations.

That way, you can help your client make a smart and legal financial decision. So, learn those skills to thrive as both finance and business analyst.

Leave a Comment