What Is a Senior Financial Analyst? How to Become One, Salary, Skills.

Senior financial analysts leverage financial data to help companies make sound investment decisions and improve their overall financial health. Here’s what to know about a senior financial analyst’s needed skills, salary and how to become one.

What Is a Senior Financial Analyst?

Senior financial analysts are responsible for advising junior financial analysts and guiding financial decisions for a company. A successful senior financial analyst makes accurate and timely forecasts to help their company achieve its financial goals. 

What Do Senior Financial Analysts Do?

Senior financial analysts advise and assist junior financial analysts by reviewing financial reports, conducting financial analyses and developing financial models and forecasts.

Senior Financial Analyst Responsibilities

• Create financial models and financial projections.
• Review and analyze financial reports and share findings with leadership and stakeholders.
• Help create budgets and forecasts. 
• Ensure the company is complying with federal and state financial reporting laws and regulations. 
• Create predictive models for cost projections as well as quarterly and annual profits. 

Senior Financial Analyst Within a Company

Senior financial analysts are part of a company’s finance team, and they typically guide junior financial analysts with their responsibilities. Senior financial analysts may report directly to the finance manager or controller. 

Importance of Senior Financial Analyst

Companies rely on senior financial analysts to make informed decisions regarding budgets and financial predictions. Senior financial analysts use their understanding of the business and financial patterns to help their company maintain healthy financial growth. 

What Skills Are Needed to Be a Senior Financial Analyst?

Qualifications to Be a Senior Financial Analyst

• Strong mathematical and statistical background. 
• Business acumen.
• Thorough understanding of accounting and financial auditing principles and best practices. 
• Ability to present complex financial data to external teams. 
• Ability to work under pressure and strict deadlines. 
• Firm grasp on financial laws and regulations. 
• Ability to easily multitask.

Senior Financial Analyst Prerequisites

• Senior financial analysts are usually required to have a bachelor’s degree in finance, accounting or a related field. 
• Many senior financial analysts have a CFA or CPA certification. 
• This role usually requires at least five years of previous work experience in finance. 

Senior Financial Analyst Hard Skills

• Analytical skills. 
• Data analysis. 
• Expertise in creating financial models. 
• Critical thinking and problem solving. 

Senior Financial Analyst Soft Skills

• Communication and presentation skills. 
• Organizational skills. 
• Time management. 

Tools and Programs Senior Financial Analysts Use

• Vena
• Mosaic Tech
• Jirav
• Oracle Essbase
• Pigment
• Microsoft Excel
• Tableau
• Bloomberg Terminal

How to Become a Senior Financial Analyst

Senior Financial Analyst Education and Experience

Senior financial analysts are often required to have at least a bachelor’s degree in finance, accounting or a related field. A master’s degree in a similar field can help aspiring analysts open up more job opportunities. Senior financial analysts usually have five or more years of experience working in finance. 

Senior Financial Analyst Certificates and Courses

• Chartered Financial Analyst Certification (CFA)
• Certified Public Accountant (CPA)
• The Language and Tools of Financial Analysis
• The Complete Financial Analyst Course

Senior Financial Analyst Career Path

Senior financial analysts typically start their careers as entry-level analysts or accountants before progressing into a more senior role. Commonly held positions after senior financial analyst include finance manager, accounting manager, senior accountant or controller.  

Senior Financial Analyst Salary and Job Outlook

Financial analysts are expected to have healthy job growth over the next several years. The U.S. Bureau of Labor Statistics predicts that financial analysts will have 9 percent growth through 2031. 

The full compensation package for a senior financial analyst depends on a variety of factors, including but not limited to the candidate’s experience and geographic location. See below for detailed information on the average senior financial analyst’s salary.