How To Become A Finance/Accounting Analyst: What It Is and Career Path

What is a finance/accounting analyst and how to become one

Updated January 8, 2025

4 min read

Quoted expert

Nate Peach Ph.D.

Finance analysis and reporting are considered as one of the bedrocks of present-day business. Organizations require financial health reports to make informed financial decisions about the company. These reports are very vital for the success of any business. To generate these reports, you need finance analysts. The financial decisions of a business pretty much depend on them.

Expert finance analysts coordinate with team members and junior analysts for the smooth operations of the accounting department. They analyze and review expenditure, profits, and every financial record of an organization. Through these reviews and analysis, they advise on business financial decisions. Conduction analysis and research on multiple investment opportunities, marketing conditions, and clients to devise economic forecasts and business models is also a part of their job.

Professional analysts' salary is valued at $30.43 per hour, on average. If you are interested in this profession, you require a bachelor's or master's degree in accounting or business. Analysts working at different companies and firms usually have in-depth knowledge and understanding of their company and stick to its goals, targets, vision, and mission.

What general advice would you give to a finance/accounting analyst?

Nate Peach Ph.D.

Associate Professor of Economics, George Fox University

Try to stay optimistic. You've invested your time, energy, and money on a precious degree. The pandemic has not changed the value of the skills you've acquired. What it has done is to make it challenging to find a job for the moment. Things are weird right now. Many companies are redesigning their hiring practices, which is bound to cause challenges for job seekers. The skills that you developed as an economist are precious to employers, be diligent in your job search, and you will be rewarded with a great career.

ScoreFinance/Accounting AnalystUS Average

Salary

4.9

Avg. Salary $62,703

Avg. Salary $59,228

Stability level

5.8

Growth rate 9%

Growth rate 0.3%

Diversity

5.5

Race

American Indian and Alaska Native 0.10%

Asian 14.09%

Black or African American 5.64%

Hispanic or Latino 7.67%

Unknown 4.50%

White 68.00%

Gender

female 47.78%

male 52.22%

Age - 38

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 38

Stress level

5.8

Stress level is manageable

7.1 - high

Complexity level

8.4

Complexity level is challenging

7 - challenging

Work life balance

4.3

Work life balance is poor

6.4 - fair

Key steps to become a finance/accounting analyst

Explore finance/accounting analyst education requirements

Most common finance/accounting analyst degrees

Bachelor's

73.7 %

Master's

17.4 %

Associate

6.9 %

Start to develop specific finance/accounting analyst skills

Skills	Percentages
Reconciliations	8.77%
GAAP	5.99%
Customer Service	4.83%
Internal Controls	4.39%
Process Improvement	4.34%

Complete relevant finance/accounting analyst training and internships

Accountants spend an average of 6-12 months on post-employment, on-the-job training. New finance/accounting analysts learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a finance/accounting analyst based on U.S. Bureau of Labor Statistics data and data from real finance/accounting analyst resumes.

Research finance/accounting analyst duties and responsibilities

Develop, maintain financial models/applications (VBA Excel/Access) to automate and streamline business processes and perform financial analysis.
Provide transitional finance department support in analysis and operations, including account reconciliations, and vendor dispute resolutions.
Provide records management support for all treasury relate documents.
Coordinate with treasury department for funding request from properties accountants.

Prepare your finance/accounting analyst resume

When your background is strong enough, you can start writing your finance/accounting analyst resume.

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