How to Become a Financial Analyst with No Experience

February 21, 2023 · 5 min read

Becoming a financial analyst takes hard work, dedication, and a passion for finance. But with the right skills, experience, and certifications, you can achieve your goal and make a successful career as a financial analyst. Here are some steps you can follow to become a financial analyst:

1. Gain Knowledge

To become a financial analyst, it is crucial to have a strong understanding of finance, economics, and financial statement analysis. You can gain knowledge in these areas by reading books, taking online courses, or enrolling in a degree program in finance, economics, or business. Some courses to consider include Financial Accounting, Corporate Finance, Investments, and Financial Statement Analysis. Developing a strong foundation of knowledge in these areas will prepare you for the work of analyzing financial data and making recommendations to clients or stakeholders.

2. Networking

Networking is essential in the financial industry, as it can help you to build relationships with other professionals, learn about new job opportunities, and gain insights into the industry. Attend events and conferences, join industry groups, and connect with financial professionals on LinkedIn. Be proactive in reaching out to people and asking for informational interviews to learn more about their experiences and how they got to where they are in their careers.

3. Internship

To gain hands-on experience and build your skills, consider applying for internships or entry-level positions in finance. This will give you exposure to real-world financial analysis and allow you to work alongside experienced professionals in the industry. You may also want to consider volunteering or shadowing a financial analyst to gain additional experience and insights into the field.

4. Get Certified

Obtaining certifications like the Chartered Financial Analyst (CFA) or Financial Risk Manager (FRM) designations can demonstrate your knowledge and commitment to the field. These certifications require significant preparation and passing rigorous exams, but they can help you stand out to potential employers and increase your earning potential. Other certifications to consider include the Certified Financial Planner (CFP) and the Certified Management Accountant (CMA).

5. Build Your Portfolio

Developing a strong portfolio that showcases your skills and knowledge is essential for landing a job as a financial analyst. You can create financial models, conduct analysis on real-world financial data, and write articles on financial topics to demonstrate your expertise. Be sure to include your best work in your portfolio and highlight your key accomplishments and skills.

6. Apply for Jobs

Once you have gained the necessary knowledge, experience, and certifications, start applying for entry-level financial analyst positions. Be prepared to highlight your education, certifications, and relevant experience, even if it is not directly in finance. Look for job opportunities in areas such as investment banking, asset management, corporate finance, and consulting. Be persistent in your job search, and don't be afraid to apply for positions that may seem out of reach. With hard work and dedication, you can achieve your goal of becoming a financial analyst.

7. Build a Strong Foundation

Gain a solid understanding of financial concepts, including financial statements, financial ratios, financial modeling, and investment analysis. You can find many free online courses and tutorials to help you get started. Consider checking out Coursera, which offers online courses in finance, economics, and business from top universities.

Focus on Soft Skills: In addition to technical knowledge, financial analysts need strong interpersonal skills, including excellent communication, problem-solving, and critical thinking abilities. Consider taking courses in public speaking or negotiation to help build these skills.

Take Advantage of Social Media: Social media platforms like LinkedIn can be a valuable resource for networking and connecting with others in the finance industry. Consider reaching out to professionals in the field, joining industry groups, and following finance-related accounts to stay up to date with industry trends and news.

Start Your Own Projects: If you can’t find an internship or entry-level position, consider creating your own projects to build your portfolio and demonstrate your skills. For example, you could analyze a company's financial statements, create a financial model, or write articles about financial topics.

Utilize Resources: Many financial organizations and institutions offer free or low-cost resources to help you develop your skills and knowledge. For example, the CFA Institute offers study materials, practice exams, and other resources to help you prepare for the CFA exams. Investopediais also a comprehensive financial education website offering articles, tutorials, and resources on financial markets, investment strategies, and more.

Be Patient and Persistent: Breaking into the finance industry can take time and effort, but with persistence and hard work, you can achieve your goals. Keep learning, building your skills and network, and continuously looking for opportunities to grow your career. 


By following these tips and using the right resources, you can become a financial analyst with no experience. Just remember that success takes time, so be patient, persistent, and never stop learning and growing.

by Yevheniia Osmakova

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