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Career path of an MBA working in Financial Planning and Analysis

There is a broad range of assigned roles and responsibilities for students who are doing online MBA courses in finance or distance learning programs in finance management. The corporate world requires an expert financial planner and a financial analyst to plan out the yearly budget, manage business cash flow, and variance analysis, and do business forecasting, reporting, and planning. The previous jobs of the financial planner and analyst are very crucial for senior executives like the Company CEO, CFO, and board of directors to take important decisions for the company and factory.

Personality traits for a financial planner and analyst. Every professional role requires some necessary traits for the job with a dedication to make it a high-yielding result. The following are the current traits of enrolled students in an online MBA in finance or distance learning program in finance. They should have complete details about the company from the accounting staff to the Finance Managers.

  • They should have excellent managing skills to manage internal stakeholders.
  • They should have sound knowledge of using Microsoft Excel and Powerpoint.
  • They should have very good communication and presentation skills.
  • They should be Analytical.
  • They should be inquisitive i.e., interested in new learnings and knowing about new things.
  • They should be self-motivated, have quick time management, quickly accept changes, and be non-resistant to them.

Financial planning & analysis entries

One can enter into the corporate life of a financial planner and analyst in more than one way. You can belong to any public accounting firm or be promoted internally in the company to a higher level, switching from an accounts position to the corporate seat. 

Clearing Financial P & A Interview

A career in Financial Planning and Analysis is the dream of most Bachelor of Commerce (B.Com) graduates apart from MBA students. Post completing your online MBA in Finance or distance learning program in finance, you are ready for the exams. As you clear the exams, now it is the best time for the Job interviews.

The questions thrown to candidates during an interview are technical and behaviour-based. The most asked technical questions in the interview are- Best Strategies for building a Financial Model and end-to-end Evaluating financial performance. To answer the questions precisely, you should be thorough with accounting, financial modelling and Analysis.

Expected Salary for Financial Planner and Analyst

When seen around the Financial P & A, enjoy a perfect life balanced between work and home. This gives indications that they are well paid. Let us look at the average salaries (in INR) for each of the specific roles of a Financial Planner and Analyst.

Financial Reporting INR 982,635
Budgeting INR 785,714
Forecasting INR 762,295
Financial Analysis INR 772,906
Microsoft Excel INR 540,499
Entry-Level INR 460,489

Ten Roles of a Financial Planner & Analyst

1. Completing your course from a distance learning program in finance or any online finance MBA is to handle significant responsibilities once work is assigned. Let us look at the top 10 roles which are assigned to a Financial P & A.

2. Examining each and every department of the company, evaluating the cost efficiency for each of them. Looking at how much part of the company money is used by particular departments.

3. Financial P & A should look at the current assets and future investments the company is holding, and evaluate if they are best for the company's financial health. They should check the ROI (Return on Investment) and plan out new profitable future investments adjusted to the company's planned budget.

4. Evaluate the budget of the individual departments and staff of the company on a regular basis. Manage the cash flow and make a final corporate budget for the company.

5. Making a comparison between the old budget and forecast of the company with the current planned one. Pointing out the differences, performing variance analysis and reports, and stating which part needs improvement.

6. Preparing financial reports for senior executives like Chief Financial Officer (CFO) and Chief Executive Officer (CEO) and helping them make critical decisions for the company.

7. Estimate the company's overall financial capabilities by using the essential ratios taught in an MBA program in finance. Ratios such as current ratio, interest coverage ratio, and debt to equity ratio.

8. Estimating which of the product or services of the company brings a considerable profit to the company. Adds a lot to the company's Net profit—leverage on expanding the growth of that product or service.

9. It determines the profit margin for each product and service of the company, which has the highest share. It is different from the point stated before this. The work that generates the highest profit margin may not be the product that can add heavily to the company's net profit.

10. Create a Financial model of the company and update it with time, maintain it in updated condition.

Why should you choose a career in Financial Planning and Analysis?

For most students getting into the field of MBA, enrolling them in an online MBA in Finance or doing it from a distance learning program in finance may be a way to complete postgraduation, but it can be their dream for many of them.

A career in Financial P & A can be a fascinating one, and it can give you exposure to resolve the company's real-life problems. By doing Financial planning and Modelling, one can hone their executive skills, which can open new gates of opportunities for them.

They spend most of their time with the CFO and CEO of the company or Industries, which can be a great learning experience. The job of a financial planner and Analyst is a very stable one as in the company's good or bad times, the executive staff is always required, and very interesting job profile.

 Author        17/Aug/2023        301                    Share This :