Junior Financial Analyst Career Guide and Counseling

Question: Is $40k a good salary for a Junior Financial Analyst in San Francisco? Its a high asset management private bank.

Answer: It's okay. You probably can get more and you can always get more. However, more now doesn't mean more at the end. You probably just started your career. Right now, it will be more productive to focus on doing your job very well. Soon enough, you will be wanted within the firm and outside. That's how you will make it far and money comes quickly.

Question: What is the different between "Junior Accountant" and "Financial Analyst"? Both jobs seem the same to me. Please explain. Thanks

Answer: If i am not wrong junior accountant most of the time handle account receivable and payable activity where as financial analyst has to look after how much receivables are there and how much payable are there then they analise the report and work with finance where to use them in business and how to work with those available balance and still to come payment and they make budget from that analysis.

Question: Is it possible to self educate oneself for an entry or junior level position in a financial institution? I am currently looking to break into the field of finance, perhaps as a junior level financial analyst. I graduated with a BA in economics 5yrs ago and since then I have held positions in education, non-profit, and state governement. I would like to get back to studying finance by going for my MBA next year, however I am currently looking to study finance on my own and needed advice on how I can go about that (recommended books, magazines, websites). Also where can I look for mentors that would help guide me in this process and perhaps help refer me to firms where I can start at an entry level position until I go back for my MBA. Any advice would be greatly appreciated. Also any information on the Series 7 & Series 63 tests, and the CFA program would be helpful. As of right now I am keeping all my options open. Thanks!

Answer: The best way to educate yourself in Finance is to go back for your MBA. If you are looking to self-educate just start reading any financial books that you can find but this won't likely land you a job. The Series 7 and 63 are tests required for work at a broker dealer if you are selling tot he public. THey are not required for administrative and/or clerical work. You must be sponsored by a B/D to register for and take these tests (usually means employment or an independent contractor agreement) The Series 7 is a 250 question 6 hour test and the series 63 is a 65 question 1 1/4 hour test.

Question: How do I get started as a financial analyst? I recently graduated summa *** laude from a state university but cannot find work that is relevant to my finance degree. I would really like to become a financial analyst and hopefully begin taking the CFA level 1 exam. The problem is that I have no relevant experience or internships, and it seems that the only analyst positions available require that you have a degree from a top tier school or that you already have experience as an analyst. I have no idea how to go about breaking into this industry to begin gaining this experience. I have applied to analyst training programs, junior analyst positions, and even entry level positions at financial firms but have had no luck. Any advice would be greatly appreciated.

Answer: dont poo poo this suggestion but have you tried an agency. even a temp one. get booked on assignments and then try to schmooze and if you're not comfortable with that approach at least try to ask a few questions from key people. like pick their brains as the saying goes.

Question: What do I need to know and do to become a financial advisor/analyst? I'm a junior attending a university. My major is managerial finance. I'm interested in becoming a financial advisor or analyst. Outside of my studies I play around with the stock market and have been fairly successful. I put together a project explaining the importance of retirement explaining the how to's on how to pick what's right for you: various mutual funds, ira's, etc. My teacher loved it. The kids on campus know me for making making financial talk simple and easy and "attractive." Several people have told me if I become a financial planner, advisor, analyst, they'd definitely trust me w/their money. I'm excited about having a career in that field but don't get enough guidance @ my school (career center, etc.) I'm looking for internships, but it's difficult in Mississippi (I keep trying.) I'm trying to make myself look attractive for employers. What else can I do to bring to the table to become a financial planner, advosor, analyst...and YES, I am going to graduate school!!!

Answer: Gain as much experience as you can when attending school. Learn different types of funds and stocks, especially the ones your local banks provide for their clients. Study for those. If you are not shy, you can go and talk to someone at the bank and gather some useful information?

Question: What are the Pros and Cons of getting CFA (chartered financial analyst) versus CMT (Chartered Mkt Technician)? I'm an IT professional looking to switch careers and get into the Finance (Investment) industry working for either a buyside or sellside firm. Target positions are: Junior Equity Analyst and Junior Technical Analyst

Answer: a MBA does not qualify for a pass for CFA lvl 1 examination. Many MBAs fail CFA lvl 1 exams.....some cases repeatedly. I don't know about the CMT, but "supposedly" CFA charter is the gold standard in investment/asset management. So far, CFA has been GREAT help to my career.

Question: What finance job do I qualify for? I am about to graduate with my undergrad degree in finance and I have no professional work experience. My goal is to become a financial analyst. I plan on going to graduate school as well. I just wanted at least a year of work experience before I apply. What is the best job for me to apply for? Internship? Bank teller? Junior financial analyst (very competitive)?

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Question: What are some steps I can take to become a FINANCIAL ANAYLST/ADVISOR? I am a junior in college majoring in Banking and Finance. I am highly interested in working in investments and helping people plan for retirement. I aced a class project dealing with this and my teacher, as well as the whole class, said I found my niche. However, besides doing well in school, what are some steps or career paths I can follow to become a financial analyst. I am really passionate about helping people plan for retirement and I also see that it pays great money but you have to have 5 years of experience or more. If there are any CFOs or Financial Analyst/Advisors (and/or career counselors), I would glady take your advice and my appreciation is extended. It's usually hard for college students to find their niche. I've found mine and I want to know some good tips or paths to follow. Thank you.

Answer: I think the next step would probably be to try to get an internship in your field. I don't know where you attend school, but going to NY and working on Wall Street during the summer should definitely help you. Some companies that come to mind are Goldman Sachs, and Merrill Lynch. If you want to stay more local see if your local bank has any internship opps.

Question: Internship in financial service industry? I am entering my junior year at Syracuse University where I am majoring in economics and minoring in finance. Once I graduate, I hope to become a financial analyst. I currently have an internship at Northwestern Mutual as financial representative. I am looking at internships for next year, preferably dealing with investments, in the Syracuse/Buffalo area. Any suggestions about investment companies, internship programs or career advice? (It doesn't necessarily have to be within Syracuse/Buffalo)

Answer: hey skip, you need to come down to the city to get a real internship experience

Question: I need an advice, Underpaid and free most of the time, should I start looking for another job? I'm a junior financial analyst working at a very small financial advisory firm. My boss (the CEO & Owner) is a very gentle and nice guy. My office mates are nice as well. I have been here for a year and 2 months now. my problem is: 1- I'm underpaid. my salary is below the average. let say if the average is 8, my salary is only 3. 2- I don't have a lot of work. I can say that 30% of the time I'm working on things not related to my major (finance) like translation, market research.. and only 10% of the time I'm doing financial work, and 60% I'm doing nothing. I was hoping that after the first year he will increase our salaries but he didn't. I was also thinking that since it's a small company my opportunity will be higher in term of promotion i mean. I'm confused and need advice from ppl with experince. Thanks,

Answer: Well, if the economy was not the worst it has been since the Great Depression of the 1930's I would recommend you get another job right away. But since so many people are losing their jobs due to layoffs, at this point you should be thankful to have a job! That said, it doesn't mean you can't discreetly look around for other opportunities, but definitely don't leave your job without having another one lined up. Good luck! P.S. If you are still at your company when the economy improves, then you should definitely ask your boss when you can expect a raise...