A financial business analyst is also referred to as a business analyst who recommends and enforces corporate efficiency and profitability methods. Financial business analysts analyze the business model and finances of an organization. Their findings serve as the source of their suggestions to improve businesses' budgeting, management, and overall operations. They have the ability to predict the outcome of the decisions made by enterprises. The skills necessary for this job include interpersonal skills, management experience, financial reporting, and strong communication skills.

Business & Finance Analyst Responsibilities

Here are examples of responsibilities from real business & finance analyst resumes representing typical tasks they are likely to perform in their roles.

  • Manage amortization, give business plan support, and ensure Sarbanes-Oxley compliance.
  • Manage and maintain DCAA approve accrual record keeping system while maintaining GAAP standards.
  • Used SharePoint repository to manage all project documents.
  • Lead company in Essbase implementation and developing a centralize and standardize reporting process.
  • Manage iterative model method within manage account platform construction to address ever changing commodity conditions using SQL to data map.
  • Update report procedure documents as well as SharePoint reports and objects.
  • Perform key measurement ratios and graphs, monthly financial statement analysis models using standard GAAP format.
  • Compile and develop integrate revenue, expense and KPI analysis, projections, reports and presentations.
  • Create new GL codes and map the old codes for the ERP migration and for structure financial reporting.
  • Work to insure the transfer from legacy systems and other programs to the new ERP system are correct information.
Business & Finance Analyst Traits
Analytical skills have to do with gathering information from various sources and then interpreting the data in order to reach a logical conclusion that benefits the business.
Communication skills shows that you are able to relay your thoughts, opinions and ideas clearly to those around you.
Computer skills involves understanding how to operate a computer, as well as computer programs and applications.

Business & Finance Analyst Job Description

When it comes to understanding what a business & finance analyst does, you may be wondering, "should I become a business & finance analyst?" The data included in this section may help you decide. Compared to other jobs, business & finance analysts have a growth rate described as "as fast as average" at 6% between the years 2018 - 2028, according to the Bureau of Labor Statistics. In fact, the number of business & finance analyst opportunities that are predicted to open up by 2028 is 20,300.

A business & finance analyst annual salary averages $70,903, which breaks down to $34.09 an hour. However, business & finance analysts can earn anywhere from upwards of $51,000 to $97,000 a year. This means that the top-earning business & finance analysts make $46,000 more than the lowest-earning ones.

It's hard work to become a business & finance analyst, but even the most dedicated employees consider switching careers from time to time. Whether you're interested in a more challenging position or just looking for a fresh start, we've compiled extensive information on becoming a cost analyst, senior technical business analyst, finance analyst/accountant, and contractor-business analyst.

Business & Finance Analyst Jobs You Might Like

Business & Finance Analyst Resume Examples

Business & Finance Analyst Skills and Personality Traits

We calculated that 21% of Business & Finance Analysts are proficient in Financial Statements, Business Process, and Data Analysis. They’re also known for soft skills such as Analytical skills, Communication skills, and Computer skills.

We break down the percentage of Business & Finance Analysts that have these skills listed on their resume here:

  • Financial Statements, 21%

    Analyzed financial statements and provided improvement recommendations

  • Business Process, 15%

    Perform testing of data as necessary to determine effectiveness of business processes at ensuring compliance and safeguarding assets.

  • Data Analysis, 4%

    Maintain an integrated model of break-even analysis in order to formally present data analysis to future investors.

  • Business Partners, 3%

    Provided project cost information for management and business partners.

  • ERP, 3%

    Supported QuickBooks Enterprise ERP systems implementation.

  • Special Projects, 2%

    Supported senior management through key financial analysis and modeling of existing operations, potential business acquisitions, and special projects.

"financial statements," "business process," and "data analysis" aren't the only skills we found business & finance analysts list on their resumes. In fact, there's a whole list of business & finance analyst responsibilities that we found, including:

  • Analytical skills can be considered to be the most important personality trait for a business & finance analyst to have. According to a business & finance analyst resume, "financial analysts must process a range of information in finding profitable investments." Business & finance analysts are able to use analytical skills in the following example we gathered from a resume: "conducted data validation exercises for all reports environment: ms office, visio, project, rup, uml, black-box testing"
  • While it may not be the most important skill, we found that many business & finance analyst duties rely on communication skills. This example from a business & finance analyst explains why: "financial analysts must explain their recommendations to clients in clear language that clients can easily understand." This resume example is just one of many ways business & finance analysts are able to utilize communication skills: "developed, distributed, and tracked various forms of navair navy erp business office communications. "
  • Business & finance analysts are also known for computer skills, which can be critical when it comes to performing their duties. An example of why this skill is important is shown by this snippet that we found in a business & finance analyst resume: "financial analysts must be adept at using software packages to analyze financial data, see trends, create portfolios, and make forecasts." We also found this resume example that details how this skill is put to the test: "create and maintain computer spread sheets and financial models. "
  • In order for certain business & finance analyst responsibilities to be completed, the job requires the skill "detail oriented." According to a business & finance analyst resume, "financial analysts must pay attention to details when reviewing possible investments, as small issues may have large implications for the health of an investment." As an example, this snippet was taken directly from a resume about how this skill applies: "managed 100+ clients - revenue recognition, invoicing, contract review for financial details and client/contract reconciliations in accordance with gaap. "
  • As part of the business & finance analyst description, you might find that one of the skills that might be helpful to the job is "math skills." A business & finance analyst resume included this snippet: "financial analysts use mathematical skills when estimating the value of financial securities." This skill could be useful in this scenario: "developed and maintained monthly/weekly financial statements and statistics. "
  • See the full list of business & finance analyst skills.

    Before becoming a business & finance analyst, 70.9% earned their bachelor's degree. When it comes down to graduating with a master's degree, 21.7% business & finance analysts went for the extra education. If you're wanting to pursue this career, it may be impossible to be successful with a high school degree. In fact, most business & finance analysts have a college degree. But about one out of every nine business & finance analysts didn't attend college at all.

    The business & finance analysts who went onto college to earn a more in-depth education generally studied business and finance, while a small population of business & finance analysts studied accounting and economics.

    Once you've obtained the level of education you're comfortable with, you might start applying to companies to become a business & finance analyst. We've found that most business & finance analyst resumes include experience from Deloitte, Computer Service Group, and U.S. Bank. Of recent, Deloitte had 15 positions open for business & finance analysts. Meanwhile, there are 5 job openings at Computer Service Group and 5 at U.S. Bank.

    But if you're interested in companies where you might earn a high salary, business & finance analysts tend to earn the biggest salaries at Kansas City Southern, Cisco Systems, and APR Consulting,. Take Kansas City Southern for example. The median business & finance analyst salary is $111,199. At Cisco Systems, business & finance analysts earn an average of $92,364, while the average at APR Consulting, is $87,675. You should take into consideration how difficult it might be to secure a job with one of these companies.

    View more details on business & finance analyst salaries across the United States.

    Some other companies you might be interested in as a business & finance analyst include IBM, JPMorgan Chase, and Lockheed Martin. These three companies were found to hire the most business & finance analysts from the top 100 U.S. educational institutions.

    The industries that business & finance analysts fulfill the most roles in are the finance and technology industries. But the highest business & finance analyst annual salary is in the energy industry, averaging $82,333. In the technology industry they make $78,733 and average about $75,377 in the finance industry. In conclusion, business & finance analysts who work in the energy industry earn a 27.2% higher salary than business & finance analysts in the health care industry.

    The three companies that hire the most prestigious business & finance analysts are:

      What Cost Analysts Do

      Cost Analysts are employees with a strong background in finance or accounting. They are in charge of collecting financial data and analyzing the entries. They study the company's expenses and prepare pertinent reports. Cost Analysts look for inconsistencies in the financial data. This way, they can assist in auditing the company's spending. Cost Analysts also look for inefficiencies. They do so by tracking item costs and department budgets and monitoring department expenses. They are also involved in budget-setting activities.

      In this section, we take a look at the annual salaries of other professions. Take cost analyst for example. On average, the cost analysts annual salary is $8,474 lower than what business & finance analysts make on average every year.

      Even though business & finance analysts and cost analysts have vast differences in their careers, a few of the skills required to do both jobs are similar. For example, both careers require financial statements, process improvements, and data analysis in the day-to-day roles.

      There are some key differences in responsibilities as well. For example, a business & finance analyst responsibilities require skills like "business process," "business partners," "financial models," and "test scripts." Meanwhile a typical cost analyst has skills in areas such as "cost estimates," "dod," "project management," and "cost models." This difference in skills reveals how truly different these two careers really are.

      Cost analysts tend to make the most money in the energy industry by averaging a salary of $79,955. In contrast, business & finance analysts make the biggest average salary of $82,333 in the energy industry.

      On average, cost analysts reach lower levels of education than business & finance analysts. Cost analysts are 15.6% less likely to earn a Master's Degree and 0.4% less likely to graduate with a Doctoral Degree.

      What Are The Duties Of a Senior Technical Business Analyst?

      Senior Technical Business Analysts are experienced employees who primarily work on business improvements. They review business processes and other operations-related procedures in relation to the current business landscape. They should be familiar with the trends in the industry and how these trends affect the company. They should also be familiar with the company processes, people's capabilities, and other context-setting information related to the business. Senior Technical Business Analysts work with different departments to get a holistic view of the company. This would help them recommend action plans and next steps to address the company's challenges and ensure that the company overcomes these challenges.

      Next up, we have the senior technical business analyst profession to look over. This career brings along a higher average salary when compared to a business & finance analyst annual salary. In fact, senior technical business analysts salary difference is $24,217 higher than the salary of business & finance analysts per year.

      Not everything about these jobs is different. Take their skills, for example. Business & finance analysts and senior technical business analysts both include similar skills like "business process," "process improvements," and "data analysis" on their resumes.

      But both careers also use different skills, according to real business & finance analyst resumes. While business & finance analyst responsibilities can utilize skills like "financial statements," "special projects," "financial models," and "financial performance," some senior technical business analysts use skills like "project management," "information technology," "scrum," and "jira."

      It's been discovered that senior technical business analysts earn higher salaries compared to business & finance analysts, but we wanted to find out where senior technical business analysts earned the most pay. The answer? The finance industry. The average salary in the industry is $110,597. Additionally, business & finance analysts earn the highest paychecks in the energy with an average salary of $82,333.

      In general, senior technical business analysts study at lower levels of education than business & finance analysts. They're 8.9% less likely to obtain a Master's Degree while being 0.4% more likely to earn a Doctoral Degree.

      How a Finance Analyst/Accountant Compares

      In a company setting, a finance analyst/accountant is in charge of handling and monitoring financial activities, ensuring efficiency and accuracy. Their responsibilities revolve around preparing financial reports, performing audits and risk assessments, and identifying any errors and inconsistencies, resolving them promptly and efficiently. They also conduct research and analysis to identify new business opportunities, evaluate the existing procedures to determine its strengths and weaknesses, and recommend solutions to optimize operations for financial growth. Furthermore, as a finance analyst/accountant, it is essential to uphold the company's policies and regulations, including its vision and mission.

      The third profession we take a look at is finance analyst/accountant. On an average scale, these workers bring in lower salaries than business & finance analysts. In fact, they make a $7,705 lower salary per year.

      By looking over several business & finance analysts and finance analyst/accountants resumes, we found that both roles utilize similar skills, such as "financial statements," "process improvements," and "data analysis." But beyond that the careers look very different.

      There are many key differences between these two careers as shown by resumes from each profession. Some of those differences include the skills required to complete responsibilities within each role. As an example of this, a business & finance analyst is likely to be skilled in "business process," "business partners," "ensure compliance," and "test scripts," while a typical finance analyst/accountant is skilled in "payroll," "external auditors," "cpa," and "ensure accuracy."

      Additionally, finance analyst/accountants earn a higher salary in the energy industry compared to other industries. In this industry, they receive an average salary of $70,871. Additionally, business & finance analysts earn an average salary of $82,333 in the energy industry.

      When it comes to education, finance analyst/accountants tend to earn lower education levels than business & finance analysts. In fact, they're 8.3% less likely to earn a Master's Degree, and 0.7% less likely to graduate with a Doctoral Degree.

      Description Of a Contractor-Business Analyst

      A contractor-business analyst is responsible for analyzing business processes and strategizing on efficient project management techniques to enhance productivity goals and achieve maximum performance. Contractor-business analysts conduct data and statistical analysis to determine areas of improvement and identify business opportunities that would generate more revenue resources and increase profits. They also review client accounts, measure sales performance, and design solutions by utilizing various software applications and system tools. A contractor-business analyst advises the management of necessary training for the staff to enhance services and close more business partnerships.

      Contractor-business analysts tend to earn a higher pay than business & finance analysts by about $15,274 per year.

      While their salaries may vary, business & finance analysts and contractor-business analysts both use similar skills to perform their jobs. Resumes from both professions include skills like "financial statements," "business process," and "process improvements. "

      While some skills are shared by these professions, there are some differences to note. "special projects," "financial models," "financial performance," and "variance analysis" are skills that have shown up on business & finance analysts resumes. Additionally, contractor-business analyst uses skills like project management, procedures, data entry, and bi on their resumes.

      The average resume of contractor-business analysts showed that they earn lower levels of education to business & finance analysts. So much so that the likelihood of them earning a Master's Degree is 13.4% less. Additionally, they're more likely to earn a Doctoral Degree by 2.2%.