Finance specialists act as financial advisors who help their clients determine present and future financial needs. A financial specialist analyzes financial data to determine a company's financial status, conducts cost and benchmarking analysis, prepares budget reports, develops financial models taking into consideration legal limitations and participates in regular audits and recommends corrective financial action plans. They design and review fiscal policies, identify investment opportunities, advise the senior management team on financial planning, and create financial forecast models based on current and past financial results.
A finance specialist should be proficient in business management, statistical, analytical and spreadsheet software, have in-depth knowledge of financial analysis models and forecasts, superb attention to detail, and excellent collaboration and communication skills.
Appilcants should have a bachelor's degree in finance or economics and a master's degree in finance. This is definitely not an entry-level job, it requires experience in the field of finance. On average, they earn a salary of $51,826 per year, which translates to $24.92 per hour. This depends on the size or location of the company though, because according to the Bureau of Labor Statistics, there is a $47,000 difference between the top earners and lowest earners.
There is more than meets the eye when it comes to being a Finance Specialist. For example, did you know that they make an average of $26.81 an hour? That's $55,766 a year!
Between 2018 and 2028, the career is expected to grow 4% and produce 18,500 job opportunities across the U.S.
There are certain skills that many Finance Specialists have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed Computer skills, Customer-service skills and Initiative.
If you're interested in becoming a Finance Specialist, one of the first things to consider is how much education you need. We've determined that 62.3% of Finance Specialists have a bachelor's degree. In terms of higher education levels, we found that 10.3% of Finance Specialists have master's degrees. Even though most Finance Specialists have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a Finance Specialist. When we researched the most common majors for a Finance Specialist, we found that they most commonly earn Bachelor's Degree degrees or Associate Degree degrees. Other degrees that we often see on Finance Specialist resumes include Master's Degree degrees or High School Diploma degrees.
You may find that experience in other jobs will help you become a Finance Specialist. In fact, many Finance Specialist jobs require experience in a role such as Customer Service Representative. Meanwhile, many Finance Specialists also have previous career experience in roles such as Administrative Assistant or Cashier.