- Overview of financial analysts in Australia
- Projected job growth of 32.2 per cent over the next five years
- Average annual salary of $105,000 to $125,000, with financial analysts residing in Western Australia earning the highest average of $123,000
- Industries with the highest average salaries for financial analysts include accounting, banking and financial services and government and defence
What does a financial analyst do?
Companies are always looking for ways to increase profits, uncover risks and allocate resources wisely. That’s where financial analysts come in. They’re the ones helping businesses translate complex financial data into actionable insights that drive growth and inform strategic decisions.
While there are different types of financial analysts, their main role is to act as a financial guide, understanding the story behind the numbers and giving leaders the information required to make informed and confident decisions. It’s an analytically rigorous role that requires the ability to extract, interpret and present financial data in ways that non-financial leaders can understand and act on.
Why are financial analysts in high demand?
There is currently a strong demand for financial analysts in the job market. What are the factors driving this demand?
Build resilience in uncertain times
With economic volatility, rapid technological change and shifting global markets, businesses need financial analysts to help analyse economic trends, financial data and market conditions to forecast potential risks and identify opportunities. This forward-looking analysis is essential for business sustainability, helping organisations remain resilient in unpredictable times.
Evidence-based decision making
Rather than making decisions based on opinion, financial analysts sift through data and reports to provide companies with insights grounded in evidence rather than intuition. This evidence-based approach leads to more reliable and defensible decisions that help businesses reduce costly mistakes and improve long-term outcomes.
Growing financial services and investment sector
In Australia, the financial services and investment sector continues to grow, particularly in areas such as fintech. According to the Australian Trade and Investment Commission, Australia currently has an advanced $10 trillion financial services sector. This growing sector drives increased demand for financial analysts who can navigate complex investment landscapes and emerging technologies.
Interpreting complex financial data
As businesses grow and operations become more complex, so does the volume and complexity of financial data. Multiple revenue streams, multi-source data and intricate structures all generate data that requires expert analysis. Businesses need financial analysts to help translate this complex data into clear and strategic recommendations.
How to become a financial analyst
If you’d like to pursue a career as a financial analyst, you’ll need to complete a bachelor’s degree in finance, business administration, accounting, economics or a related field. Upon graduation, you can gain experience as a junior financial analyst before progressing to more senior roles. To strengthen your employability and career prospects, undertaking a Chartered Accountant (CA) or Certified Practising Accountant (CPA) accredited qualification is highly recommended.
If you’re thinking of transitioning into a financial analyst role from another field, you’ll ideally need some experience in financial or management accounting. A postgraduate degree, such as the Master of Applied Accounting and Master of Financial Management at the Australian National University, can provide you with competencies in both accounting and finance. For those seeking a broader understanding of business, the Master of Business Administration (MBA) at the University of Technology Sydney builds expertise across multiple business areas including finance, economics, leadership, accounting and marketing.
Pursue a rewarding career as a financial analyst
If you have an investigative and analytical mind, are passionate about numbers and enjoy working with different teams, a career as a financial analyst could be a strong fit. Whether you’ve already got accounting experience or are looking to build your capabilities, a postgraduate business qualification can prepare you for the field. To get started, the StudyNext catalogue offers a variety of postgraduate business courses in finance, accounting, management and more.