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Career path of an MBA working in Financial Planning & Analysis



There is a wide range of responsibilities for the students who are doing an online MBA in finance or distance learning programs in finance. The corporate world requires a financial planner and analyst to plan out the budgeting, manage cash flow, variance analysis, do the forecasting, reporting, and planning. The previous jobs of the financial planner and analyst are very crucial for the senior executives like CEO, CFO, and board of directors to take important decisions for the company.

Personality traits for financial planner and analyst

Every role requires some necessary traits for the job with dedication to make it fruitful. The following are the traits enrolled in an online MBA in finance or distance learning program in finance;

  • They should have every detail about the company from the accounting staff to the Finance Managers.

  • They should have excellent managing skills to manage internal stakeholders.

  • They should have good knowledge of using Microsoft Excel and Powerpoint.

  • They should have good communication skills.

  • They should be Analytical.

  • They should be inquisitive i.e., interested in learning and knowing about new things.

  • They should be self-motivated, quickly accepting changes, and non-resistant to them.

Financial planning & analysis entries

One can enter into the corporate life of a financial planner and analyst by more than one way. You can belong to any public accounting firm or be promoted internally in the company, switching from an accounts position to the corporate seat. 

Clearing Financial P & A Interview

A career in Financial Planning and Analysis is the dream of most B.Com graduates apart from MBA students. Post completing your online MBA in Finance or distance learning program in finance, and you are ready for the exams. As you clear the exams, it is time for the Job interviews.

The questions thrown to candidates during an interview are from technical and behavior-based. The most asked technical questions are- Strategies for building a Financial Model and Evaluate financial performance. To answer the questions precisely, you should be thorough with accounting, financial modeling, and Analysis.

Expected Salary for Financial Planner and Analyst

When seen around the Financial P & A, enjoy a perfect life balanced between work and home. This gives indications that they are well paid. Let us look at the average salaries (in INR) for each of the specific roles of a Financial P & A.

Financial Reporting 982,635

Budgeting     785,714

Forecasting     762,295

Financial Analysis     772,906

Microsoft Excel     540,499

Ten Roles of a Financial Planner & Analyst

  1. Completing your course from a distance learning program in finance or any online finance MBA is to handle significant responsibilities once work is assigned. Let us look at the top 10 roles which are assigned to a Financial P & A.

  2. Examining every department of the company, evaluating the cost efficiency for each of them. Looking at how much part of the company money is used by particular departments.

  3. Financial P & A should look at the current assets and investments the company is holding, and evaluate if they are best for the company's financial health. They should check the ROI (Return on Investment) and plan out new profitable investments adjusted in the company's budget.

  4. Evaluate the budget of the individual departments and staff of the company. Manage the cash flow and make a final corporate budget of the company.

  5. Making a comparison between the old budget and forecast of the company with the current one. Pointing out to the differences, performing variance analysis, and stating which part needs improvement.

  6. Preparing financial reports for the senior executives like CFO and CEO and helping them make critical decisions for the company.

  7. Estimate the company's overall financial capabilities by using the essential ratios taught in an online MBA in finance or distance learning programs in finance. Ratios such as current ratio, interest coverage ratio, and debt to equity ratio.

  8. Estimating which of the product of the company brings a considerable profit to the company. Adds a lot to the company's Net profit—leverage on expanding the growth of that product.

  9. It determines the profit margin for each product of the company, which has the highest share and has the lowest percentage. It is different from the point stated before this. The work that generates the highest profit margin may not be the product that can add heavily to the company's net profit.

  10. Create a Financial model of the detail-oriented company and update it with time, maintain it in updated condition.

Why should you choose a career in Financial Planning and Analysis?

For most of the students getting into the field of MBA, enrolling in an online MBA in Finance or doing it from a distance learning program in finance may be a way to complete graduation, but it can be their dream for many of them a career.

A career in Financial P & A can be a fascinating one, and it can give you exposure to the company's real-life problems. With doing Financial planning and Modelling, one can hone their executive skills, which can open new gates of opportunities for them.

They spend most of their time with the CFO and CEO of the company, which can be a great learning experience. The job of a financial planner and Analyst is a very stable one as in the company's good or bad times, the executive staff is always required, and the lower team shrinks.

 

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