Financial Data Analysts: How to Become One
If you were to ask a group of financial data analysts about how they arrived at their current job, there's a good chance you would get several different answers about the paths and steps that each person took.
That said, there are still ways that you can develop a baseline understanding of the preparation that is necessary to become one.
The Best Adult Colleges and Careers Guide has gathered data to provide you with insight into the type of education that's commonly required for financial data analysts to land a job. This page contains information, sourced from real job postings, that describes the experience levels and specific skills that employers of financial data analysts expect candidates to have. In the end, this information will help you create an education or professional development plan that aligns with your career aspirations.
Keep reading to learn more about career steps for financial data analysts.
What Education & Experience is Needed for Financial Data Analysts?
Do financial data analysts need a degree? What kind of experience do financial data analysts typically need? Thanks to data sourced from Lightcast™ from real job postings, we can get some clarity on those questions, as well as the level of education that is commonly required for financial data analysts to secure jobs.
Education Level Required in Job Postings for Financial Data Analysts
Jobs Postings for Financial Data Analysts By Education
- Bachelor's degree: 145,490 (60%)
- Master's degree: 45,130 (19%)
- No Education Listed: 34,140 (14%)
- High School or GED: 11,964 (5%)
- Ph.D. or professional degree: 4,438 (2%)
A bachelor's degree is the level of education sought the most by employers of financial data analysts. According to job data, a bachelor's degree was required for 60% of positions. In 19% of job listings a master's degree was required and in 14% of postings no education level was listed.
Experience Level Required in Job Postings for Financial Data Analysts
Jobs Postings for Financial Data Analysts By Experience
- 0-1 Years: 19,411 (14%)
- 2-3 Years: 55,234 (41%)
- 4-6 Years: 42,168 (31%)
- 7-9 Years: 10,609 (8%)
- 10+ Years: 8,623 (6%)
While the amount of required experience will vary based on the responsibility and seniority of the position, an aggregate view of job posting data can help paint a picture of the experience level sought for most job openings for financial data analysts. In 41% of job postings for Financial Data Analysts, employers were looking for candidates with 2-3 years of experience. In 31% of listings employers were looking for candidates with 4-6 years of experience, while 0-1 years of experience was sought in 14% of job postings for financial data analysts.
What Kind of Degree Do Financial Data Analysts Need?
So far this page has provided detail into the level of education and the amount of experience required in job openings for financial data analysts, but what type of education or degree will help prepare you for a career in the field?
According to occupational data obtained through Lightcast,™ there are 23 key academic programs that can help prepare prospective financial data analysts, and in 2023 a total of 181,480 of those programs were completed at institutions in the United States.
Check out the information below to learn more about the specific programs that should be considered by prospective financial data analysts.
Top Degree Programs for Financial Data Analysts
Top 5 Degree Programs for Financial Data Analysts (2023)
| Program | Completions |
|---|---|
| Finance, General. | 50,779 |
| Mathematics, General. | 26,754 |
| Econometrics and Quantitative Economics. | 22,925 |
| Economics, General. | 21,664 |
| Organizational Leadership. | 15,298 |
| Program | Completions |
|---|---|
| Finance, General. | 50,779 |
| Mathematics, General. | 26,754 |
| Econometrics and Quantitative Economics. | 22,925 |
| Economics, General. | 21,664 |
| Organizational Leadership. | 15,298 |
| Entrepreneurship/Entrepreneurial Studies. | 9,123 |
| Financial Mathematics. | 5,552 |
| Financial Planning and Services. | 5,054 |
| Business/Managerial Economics. | 4,864 |
| Applied Mathematics, General. | 4,571 |
| Project Management. | 4,299 |
| Accounting and Finance. | 3,492 |
| Health Services Administration. | 3,016 |
| Accounting and Business/Management. | 1,214 |
| Banking and Financial Support Services. | 1,034 |
| Financial Analytics. | 729 |
| Investments and Securities. | 374 |
| Entrepreneurial and Small Business Operations, Other. | 335 |
| Risk Management. | 177 |
| International Finance. | 138 |
| Pharmaceutical Marketing and Management. | 61 |
| Public Finance. | 25 |
| Financial Risk Management. | 2 |
Top Online College For Working Adults
Franklin University is a top choice for adults who need to balance school with busy lives. Founded in 1902 in Columbus, Ohio, Franklin's main focus has been serving adult students and tailoring education to fit their needs. Nonprofit and accredited by the Higher Learning Commission (hlcommission.org/800.621.7440), Franklin offers more than 50 affordable bachelor's, master's, and doctoral programs — all available 100% online.
Degree Options for Financial Data Analysts
Build in-demand skills in programming, data management and cloud computing with Franklin’s online data science bachelor’s degree.
- Class Type: 100% online
- Cost Per Credit: $398
Integrate data-driven insights into business processes and strategies with Franklin’s online business analytics degree.
- Class Type: 100% online
- Cost Per Credit: $398
Learn to identify, resolve, and prevent white-collar crime in a variety of business settings while preparing for the CFE exam.
- Class Type: 100% online
- Cost Per Credit: $398
- Accreditation: IACBE
- Class Type: Face-to-face, Online coursework
- Months To Complete: 12
- Placement Tests: GMAT/GRE not required for admission
What Skills Do Financial Data Analysts Need?
Education and experience have been covered, so what are the specific skills and traits needed by financial data analysts to secure a job?
A good way to understand this is to examine actual job postings for skills commonly sought by employers. Continue reading for a breakdown of specialized skills found in job postings for financial data analysts, as well as common skills that can help you thrive in the workplace.
In-Demand Skills for Today's Financial Data Analysts
Based on 191,857 job postings
Top 5 Specialized Skills for Financial Data Analysts
| Skills | Postings | % of Total Postings |
|---|---|---|
| Finance | 115,926 | 60% |
| Accounting | 104,385 | 54% |
| Financial Analysis | 85,691 | 45% |
| Financial Statements | 49,944 | 26% |
| Auditing | 32,331 | 17% |
Top 5 Common Skills for Financial Data Analysts
| Skills | Postings | % of Total Postings |
|---|---|---|
| Management | 94,922 | 49% |
| Communication | 86,886 | 45% |
| Microsoft Excel | 74,254 | 39% |
| Forecasting | 58,541 | 31% |
| Operations | 57,855 | 30% |
Based on 191,857 job postings related to financial data analysts, finance was the top specialized skill sought by employers, with 60% of all postings looking for that skillset. Skills for accounting, financial analysis, financial statements, auditing and financial modeling were also highly sought.
As for common skills, management was the most desired skill found in job postings for financial data analysts, followed by communication, microsoft excel, forecasting, operations and leadership.
| Skill | Postings | % of Total Postings |
|---|---|---|
| Finance | 115,926 | 60% |
| Accounting | 104,385 | 54% |
| Financial Analysis | 85,691 | 45% |
| Financial Statements | 49,944 | 26% |
| Auditing | 32,331 | 17% |
| Financial Modeling | 32,291 | 17% |
| Investments | 27,975 | 15% |
| Project Management | 27,677 | 14% |
| Economics | 27,559 | 14% |
| Data Analysis | 25,845 | 13% |
| Process Improvement | 23,158 | 12% |
| Financial Planning | 22,796 | 12% |
| Generally Accepted Accounting Principles | 19,139 | 10% |
| Marketing | 18,415 | 10% |
| Financial Data | 17,877 | 9% |
| SQL (Programming Language) | 15,822 | 8% |
| SAP Applications | 15,523 | 8% |
| Variance Analysis | 14,829 | 8% |
| Corporate Finance | 14,816 | 8% |
| Month-End Closing | 14,465 | 8% |
| Skill | Postings | % of Total Postings |
|---|---|---|
| Management | 94,922 | 49% |
| Communication | 86,886 | 45% |
| Microsoft Excel | 74,254 | 39% |
| Forecasting | 58,541 | 31% |
| Operations | 57,855 | 30% |
| Leadership | 54,755 | 29% |
| Detail Oriented | 53,182 | 28% |
| Problem Solving | 47,057 | 25% |
| Budgeting | 46,763 | 24% |
| Research | 42,640 | 22% |
| Planning | 42,448 | 22% |
| Presentations | 40,029 | 21% |
| Microsoft PowerPoint | 39,892 | 21% |
| Writing | 38,120 | 20% |
| Microsoft Office | 37,328 | 19% |
| Sales | 36,173 | 19% |
| Analytical Skills | 30,636 | 16% |
| Self-Motivation | 28,116 | 15% |
| Customer Service | 28,104 | 15% |
| Interpersonal Communications | 27,451 | 14% |
Additional Links
Ready to dig deeper into career information about financial data analysts? Visit our other pages focused on salary and education for financial data analysts.
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