Demand for financial analysts high, says Labor

FINANCIAL analysts are in demand, with financial analysis one of the occupations in the financial services sector to have the highest potential of absorbing the most number of workers in the next five to 10 years with high premium salaries, the Department of Labor and Employment said.

Labor Rosalinda Baldoz made this announcement to encourage graduating high school students who will enroll in college this 2012-2013 school year.

Citing the Bureau of Local Employment’s 101 Career Guides which provides basic information on the occupations identified in the Project JobsFit: The DOLE 2020 Vision, Baldoz said a financial analyst needs to have a bachelor’s or graduate degree, and is strongly preferred by companies and individuals as a personal financial advisor.

“Most companies require financial analysts to have at least a bachelors degree in finance, business administration, accounting, statistics, or economics. Coursework in statistics, economics, and business is required, and knowledge of accounting policies and procedures, corporate budgeting, and financial analysis methods is recommended,” Baldoz said.

“A masters degree in finance or business administration is also desirable. Also useful are advanced courses in options pricing or bond valuation and knowledge of risk management,” she added.

Courses in finance costs around P20,000 to P45,000 per semester in a private institution, while a government-owned school would charge only around P3,500 per semester. The cost is based on average tuition fees for school year 2010-2011.

Locally, a financial analysts entry level salary ranges from P14,000 to P30,000 per month and may even go up to P33,000 per month for those highly-trained and experienced.  –Vito Barcelo, Manila Standard Today