How to Become a Finance Analyst in India 2022 | Salary & Qualifications

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How to Become a Finance Analyst in India 2022 | Salary & Qualifications

How to Become a Finance Analyst- Road Map, Job Role, Salary offered in different Companies

Financial analysts, also known as business analysts, are professionals who gather, monitor and evaluate information to make necessary forecasts and recommendations relevant to their industry and businesses. They are most often employed in banks, Financial Planning firms, Portfolio management providers, insurance companies, and government regulatory agencies. 

Corporate Finance Analysts are persons interested in a Finance Management Accounting services career. They are generally expected to be great at planning and foresight. They have to have the ability to look at data, relevant news, and other financial details and predict the overall health of an organization, look into growth plans, the financial viability of investments, and so on. Their jobs are related to creating healthy financial modules for firms to grow. 

The Career Path to Becoming a Financial Analyst includes the following steps:

  1. Obtaining a Bachelor’s Degree: 

Most firms and organizations require a minimum qualification of a bachelor’s in any financial or accounting background for being recruited as a corporate finance analyst. Even though pursuing general courses like economics, and statistics can be relevant to financial analysis, a targeted degree may be ideal to get into your dream company. A Bachelor’s in Commerce or Business Administration can be perfect for applying to firms for the role of corporate finance analyst.

These courses are essential because their fundamentals create the principle facets of the job and its duties. They provide an elementary understanding of accounting and commerce that enables the candidate to understand the workings of an organization better. A degree in this field allows for the candidate to enter an organization at an entry-level position and establish their experience in the area. 

  1. Obtaining Licenses or Certifications: 

Many bachelor’s degree graduates begin their careers working in account departments or banks or investing firms. 

Additional certifications can be the best way to move forward in your career.  

Let us take an instance: Any firm or company must comply with specific regulations to protect consumers from unfair practices. Hence, employers will prefer to have finance process analysts on their team. By pursuing the Chartered Financial Analyst (CFA) degree it can improve an employee’s chance for professional advancement. The eligibility criteria to become a Chartered Financial Analyst are:

  • A bachelor’s degree in accounting or finance. 
  • Four years of work experience
  • Clearing all three parts of the CFA exam. 

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Another way to become a finance process analyst would be to get specialized certifications like Certified Management Accountant.  A CMA USA certification has a thorough knowledge and deep understanding of financial planning, analysis, control, and professional ethics. 

The eligibility criteria to become a CMA includes :

You may also opt for certifications like Certified Public Accountant (CPA) or Chartered Accountant (CA). Many organizations like the big four, MNCs like Amazon, Accenture, Wipro, and Oracle hire candidates who have obtained professional certifications and prefer them over others. 

  1. Creating experience and exposure in the field

Candidates should have relevant exposure to the field and work in similar or congruent areas before entering the core Financial analysis. This can also be obtained from simple internships done while graduating college or right after college.

It is important to have the proper education and any needed licensing and certifications to become a corporate finance analyst. Beyond these steps, it’s also essential for aspiring finance process analysts to gain work experience in the finance industry as early as possible and work their way up. Finance process analysts may also have to choose the domain or the industry they prefer to work in. 

  1. Obtaining a Master’s Degree

This can be an optional step but very crucial to mid-career augmentation of work. A master’s after a bachelor’s, an esteemed license, and several years of experience and two or more organizations can be the best to augment one internal position in their organization and take up newer challenges after their experience. The Master’s may be specialized in a domain the candidate wants to further work in and may help them enter organizations that specialize in such a domain as well.

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A master’s degree allows candidates to catapult their learning curve even at a relatively older age than newbies in the industry. This gives them a chance to further their corporate and public financing avenues. Some working in the private sector may do a master’s specialization in government financing and enter the public sector for their job post a master’s. This way, many can redirect their careers to a chosen path. Many can cut themselves out of the general financial analysis jobs and look towards specialized domains. 

Entry Level Financial Analyst Job Description

At the entry-level, financial analysts do various jobs for their organization. 

  • They are responsible for gathering and interpreting financial data and helping their managers prepare financial briefs for top management to refer to while making business decisions.

  • Financial Analysts may also be employed in regulation compliance. They skim through the organization’s financial documents and make sure they are in order as per the current financial regulations laid out by the banks or the government. 

  • Many financial analysts are also made to do market research; their jobs include surveying the market for competition products, analyzing the price sensitivity of their products versus the competition, and even looking at external information that may affect the market. 

  • Briefs prepared by corporate financial analysts are carried forward to mid and top management officers who operate the organization based on the information and recommendations.

Financial Analyst Salary Survey

Salaries of finance process analysts range from 3 LPA to 12 LPA depending on their degrees, experience, and certifications. Locations also affect the salaries of corporate finance analysts. Financial analysts’ salaries in India may range between Rs. 7 to 10 lakhs depending upon the company, role, and other qualifications. Candidates in Mumbai, Delhi, and Bangalore get paid much more than in Chandigarh, Indore, or Kochi. 

A fresher candidate can earn a salary of around Rs. 4 LPA. Those with a few years of experience and a master’s in a relevant domain may work at any big four drawing a salary close to 12 LPA. A finance Analyst’s Salary in the UK may be around £ 69,959 per year while Finance Analyst’s Salary in the USA may be around $ 72,015 per annum. These salaries also change between your domain expertise, location, and clients the candidates handle. 


Corporate finance analysts must be critical thinkers with a need to have foresight for financial planning. They must have excellent time management and research skills and be very good with interpersonal communication to be understood better than the others in an organization. Becoming a financial analyst may be challenging but it is definitely not impossible. To earn your CMA USA or CFA certification, you can connect with the experts at NorthStar Academy and fulfil all your dreams. 

Frequently Asked Questions 

1. How do I pursue a career as a financial analyst in India?

There are 4 paths to pursuing a career as a financial analyst.

  • A Commerce student after graduation has to complete B.Com- Finance and then can proceed with the CMA USA exam or Chartered Financial analyst exam (CFA) 
  • After 12th graduation, the student has to complete BBA- in Finance and then pursue the Chartered Financial analyst exam (CFA) or the CMA USA exam
  • After 12th graduation, the student has to complete a BBA in finance and then pursue with MBA in Finance
  • After 12th graduation, the student takes up CA and then pursues the Chartered Financial analyst exam (CFA).

2. How much does a business analyst make?

The average salary of a business analyst in India is around Rs. 8,00,000 per year.

3. How to start a career as a Business analyst with no experience?

It is not that difficult to start a career as a Business analyst without any experience. You just have to learn the Business Processes, get the domain knowledge, get familiar with the Key software, learn data analysis, get familiar with glossaries, improve your communication skills, and can try doing an internship too. 

4. How to start a career as a business analyst at the age of 40?

It’s never too late to make a career change as a business analyst at the age of 40. Your transition may not be simple though you can make it with a great deal of effort. You can pick up a course like CMA USA or take an internship to upskill yourself and make the career pivot. 

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