How to become a financial analyst in West Africa

July 30, 2021 | by: David Kodjani

As the name suggests, the role of a financial analyst is to dig into the numbers and draw conclusions. Its role is to analyze the ratings of companies and identify investment opportunities.

Both advisor and portfolio manager, the financial analyst is a guide for companies with assets to manage. He advises them, but can also work in the trading rooms and support shortcomings on the stock market! His missions are very important, because the finance of a company can depend on his advice!

The skills of a financial analyst

To be a financial analyst, you will have to acquire skills during your training. They are quite varied and revolve around law, economics, marketing and finance of course. To become a financial analyst, you must:

  • know perfectly the stock exchange and finance system
  • master all types of financial products
  • know how to formulate clear and effective advice
  • well identify your clients and their needs, etc.

Qualities to become a financial analyst

Financial analysts have many qualities. To become one, you must:

  • love numbers and not be afraid to spend the day analyzing complex systems
  • be a trustworthy person, who can be counted on and whose advice is reliable
  • be rigorous

training to become a financial analyst

The job of financial analyst requires high-level training in the field of finance. You will have to follow training at least bac + 5. To start, you can choose a bachelor's or a license, at bac + 3, to learn the basics of finance and economics.

You will then continue with a bac + 5 training, specializing in finance and financial advice. In particular, you will be able to find training courses such as:

  • business school master's degree, finance specialty, finance
  • master's degree, at university or in a specialized school specialized
  • master's degree in finance
  • MBA finance

Most of these finance degrees are not generalist and offer options such as corporate finance, wealth management or financial advice.

Are you convinced you want to get into finance? So you need to know which school to choose for training. In West Africa, we have the Higher Institute of Finance (ISF) in Dakar in Senegal and the Catholic University of West Africa (UCAO) present throughout the sub region.

In terms of employability, financial consulting and auditing companies such as Safari Finance, Aviso-Consulting are the main recruiters of financial analysts.

The salary of a financial analyst in West Africa varies between 90,000 and 200,000 CFA francs per month. In this particularly meticulous profession, experience matters a lot. Indeed, you will have to give confidence to your customers before they entrust you with important missions. People with more experience in financial advice can earn more than that per month.

Source: Diplomeo

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