Salary Structure Of Financial Analyst In Nigeria
If you enjoy crunching statistics, finding solutions, and making predictions based on data, a job as a financial analyst might be a good fit for you. Learn about typical career pathways for financial analysts in the next paragraphs, along with information about salaries for financial analysts in Nigeria.
Who Really Is A Financial Analyst?
A financial analyst helps organizations and groups to maximize their financial resources. They offer customers advice regarding the amount they ought to put into stocks or bonds. They choose the investments that will yield the highest returns on investment. A financial analyst develops financial projections and, based on their results, offers advice to management teams or other stakeholders who need financial knowledge.
To recognize and forecast market investment opportunities, a financial analyst must constantly adapt and develop new skills. They create strong financial plans for a business using historical and present data, making adjustments as necessary in response to shifting circumstances or new information. As a result, they need to stay up to date on financial developments in order to provide wise suggestions.
What Is The Job Description Of A Financial Analyst?
- Consolidate and analyze financial data (budgets, income statement forecasts etc) taking into account company’s goals and financial standing
- Provide original suggestions and options to cut costs and boost financial performance.
- Assemble and consolidate information to create complex reports on the state of the economy and dangers.
- Create financial models and do process analysis and benchmarking
- Create projection models and conduct business research on past, present, and comparative performance.
- Detect trends, provide company advice, and, based on sound analysis, suggest actions to a senior financial analyst.
- Monitor and assess your financial situation by comparing your actual outcomes to your forecasts.
- In order to reconcile transactions, compare and correct the data.
- Learn new skills and keep your knowledge current to stay abreast of industry advancements.
- Consult with management to direct and sway long-term and strategic decisions that cover the widest possible range of possibilities.
- Promote initiatives for policy creation and process improvement that have an influence on the function.
Skills And Requirements To Work As A Financial Analyst
- Proven knowledge of financial forecasting and diagnosis, corporate finance and information analysis
- Well informed in current financial subjects, accounting, tax laws, money market and business environments
- Hands on experience with statistical analysis and statistical packages
- Outstanding presentation, reporting and communication skills
- BS degree in Finance, Economics or related field
- Proven working experience as a Finance Analyst
- Proficient in spreadsheets, databases, MS Office and financial software applications
What Is The Salary Amount Of A Financial Analyst In Nigeria?
A financial analyst makes an average salary of ₦252,826 a month, or ₦3,033,912 annually, in Nigeria. Yet, the starting wage for a financial analyst at the entry level is ₦2,578,824, while the annual salary for an experienced financial analyst can reach ₦3,489,000.