RecordMove

Business analyst to financial analyst

A business analyst already meets 25% of what the financial analyst role asks for. The move turns on 16 required skills not yet in the profile.

Fig. 1 · Skill transfer ESCO v1.2.1 · directional

From business analyst

Distant match

To financial analyst

9 You already bring

16 Still to learn

47 Skills in the target role2

Learning distance A rebuild

78.2/ 100

adjacentmoderatesubstantialcareer change

1 How much of what a financial analyst is expected to do is already part of a business analyst’s work. Directional: the figure for the reverse move differs, because moving into a speciality is not the same problem as moving out of one. 2 Every skill the financial analyst role is recorded as needing, required and optional together. What these numbers mean.

Why

Why this move works

A financial analyst role treats 7 of its required skills as things a business analyst already does. You would walk in with these on day one.

advise on financial matters
business analytics
digital data processing
interpret financial statements
investment banking
perform business analysis

What stands in the way is 16 required skills the profile does not yet cover. Table 3 groups them; Table 4 says which to take first.

Table 2

Table 2 · What you already bring

Of the 9 skills that carry over, these are the ones fewest other occupations ask for. A financial analyst role needs them, and most people applying for one will not have them already. This is the part of a business analyst background worth leading with.

Skill the target role also needs Area

already held use business simulation tools working with computers
already held business analytics natural sciences, mathematics and statistics
already held management consulting business, administration and law
already held investment banking business, administration and law
already held perform business analysis information skills
already held digital data processing working with computers

All 9 carried skills, including the 7 the financial analyst role treats as required.

Table 3

Table 3 · What you may need to learn

The 38 missing skills fall into 7 areas of the ESCO skill hierarchy, numbered in the order worth working in. Areas carrying the most required skills come first, and inside each one the required skills sit above the optional ones. Nothing here is a verdict on you: it is a list of what this particular job asks for that your current one does not.

Skill to pick up Tier

01 business, administration and law 5 required, 9 supplementary

still to learn fundamental analysis required
still to learn accounting required
still to learn asset management required
still to learn business processes required
still to learn financial management required

optional, not held cost management optional
optional, not held green bonds optional
optional, not held sustainable finance optional
optional, not held treasury management system optional
optional, not held financial forecasting optional
optional, not held financial products optional
optional, not held mergers and acquisitions optional
optional, not held public offering optional
optional, not held stock market optional

02 social sciences, journalism and information 4 required

still to learn macroeconomics required
still to learn microeconomics required
still to learn economics required
still to learn quantitative analysis required

03 information skills 3 required, 7 supplementary

still to learn prepare financial projections required
still to learn create a financial report required
still to learn perform business research required

optional, not held develop transportation cost metrics optional
optional, not held monitor loan portfolio optional
optional, not held analyse financial risk optional
optional, not held assess financial viability optional
optional, not held ensure compliance with disclosure criteria of accounting information optional
optional, not held monitor stock market optional
optional, not held provide cost benefit analysis reports optional

04 communication, collaboration and creativity 1 required, 3 supplementary

still to learn offer financial services required

optional, not held explain financial jargon optional
optional, not held handle mergers and acquisitions optional
optional, not held advise on tax planning optional

05 management skills 1 required, 2 supplementary

still to learn consider economic criteria in decision making required

optional, not held create a financial plan optional
optional, not held develop investment portfolio optional

06 natural sciences, mathematics and statistics 1 required, 1 supplementary

still to learn statistics required

optional, not held game theory optional

1 further area in the appendix

Table 4

Table 4 · Where to start

The 3 entries a financial analyst role is least likely to hire without. The ordering is computed from the skill data, not from what pays.

Each entry opens a course search for that skill. Career Overlap earns nothing from these links.

Appendix

Appendix · The rest of the record

All 9 skills that carry over

Skill Type

already held advise on financial matters skill
already held business analytics knowledge
already held digital data processing skill
already held interpret financial statements skill
already held investment banking knowledge
already held perform business analysis skill
already held use business simulation tools skill
already held analyse financial performance of a company skill
already held management consulting knowledge

The 1 learning area not shown above

Skill to pick up Tier

07 generic programmes and qualifications 1 required

still to learn empirical analysis required

22 supplementary skills, helpful but not required

Skill to pick up Tier

optional, not held cost management optional
optional, not held develop transportation cost metrics optional
optional, not held explain financial jargon optional
optional, not held green bonds optional
optional, not held handle mergers and acquisitions optional
optional, not held monitor loan portfolio optional
optional, not held sustainable finance optional
optional, not held treasury management system optional
optional, not held advise on tax planning optional
optional, not held analyse financial risk optional
optional, not held assess financial viability optional
optional, not held create a financial plan optional
optional, not held develop investment portfolio optional
optional, not held ensure compliance with disclosure criteria of accounting information optional
optional, not held financial forecasting optional
optional, not held financial products optional
optional, not held game theory optional
optional, not held mergers and acquisitions optional
optional, not held monitor stock market optional
optional, not held provide cost benefit analysis reports optional
optional, not held public offering optional
optional, not held stock market optional

44 held skills the financial analyst role does not ask for

Skill Type

not needed by the target role advise client on technical possibilities skill
not needed by the target role advise on communication strategies skill
not needed by the target role advise on efficiency improvements skill
not needed by the target role advise on organisational culture skill
not needed by the target role advise on personnel management skill
not needed by the target role advise on risk management skill
not needed by the target role align efforts towards business development skill
not needed by the target role analyse business plans skill
not needed by the target role analyse external factors of companies skill
not needed by the target role analyse internal factors of companies skill
not needed by the target role apply change management skill
not needed by the target role build business relationships skill
not needed by the target role business analysis knowledge
not needed by the target role business communication knowledge
not needed by the target role business intelligence knowledge
not needed by the target role business law knowledge
not needed by the target role business process modelling knowledge
not needed by the target role business strategy concepts knowledge
not needed by the target role conduct qualitative research skill
not needed by the target role conduct quantitative research skill
not needed by the target role corporate law knowledge
not needed by the target role data visualisation software knowledge
not needed by the target role define organisational standards skill
not needed by the target role financial statements knowledge
not needed by the target role identify undetected organisational needs skill
not needed by the target role interview people skill
not needed by the target role keep updated on the political landscape skill
not needed by the target role liaise with managers skill
not needed by the target role make strategic business decisions skill
not needed by the target role management systems standards knowledge
not needed by the target role market entry strategies knowledge
not needed by the target role market research knowledge
not needed by the target role marketing analytics knowledge
not needed by the target role organisational learning knowledge
not needed by the target role organisational policies knowledge
not needed by the target role propose ICT solutions to business problems skill
not needed by the target role quality standards knowledge
not needed by the target role report analysis results skill
not needed by the target role risk management knowledge
not needed by the target role scientific research methodology knowledge

4 further entries not listed here

21 gaps that are knowledge rather than practice

Knowledge gaps usually close through study. Practical skill gaps usually need something you can point at.

Skill to pick up Tier

still to learn macroeconomics required
still to learn microeconomics required
still to learn fundamental analysis required
still to learn accounting required
still to learn asset management required
still to learn business processes required
still to learn economics required
still to learn empirical analysis required
still to learn financial management required
still to learn quantitative analysis required
still to learn statistics required
optional, not held cost management optional
optional, not held green bonds optional
optional, not held sustainable finance optional
optional, not held treasury management system optional
optional, not held financial forecasting optional
optional, not held financial products optional
optional, not held game theory optional
optional, not held mergers and acquisitions optional
optional, not held public offering optional
optional, not held stock market optional

Index

Other moves recorded from business analyst

Full index of moves from business analyst

FAQ

Common questions about this move

Can a business analyst become a financial analyst?

Yes, and it is a career change move. A business analyst already covers 25% of what a financial analyst is expected to do: 9 skills carry over, 7 of which the financial analyst role treats as required.

What skills does a business analyst need to become a financial analyst?

16 required skills are missing, plus 22 optional ones. They fall into 7 areas of the ESCO skill hierarchy, led by business, administration and law. The single most important is macroeconomics.

How hard is the move from business analyst to financial analyst?

Its learning distance is 78.2 out of 100, which is the career change band. That accounts for both how much is missing and how specialised those skills are.

Note

How this record was compiled

Both occupations are taken from ESCO, which lists the skills and knowledge each occupation is expected to have and marks every one required or optional. Nothing here is a prediction about hiring, and nothing here knows that a particular employer wants a particular certificate. Treat Table 3 as a starting point for your own research rather than a syllabus. The full method states what these figures can and cannot tell you.