Strategic Learning Financial Analysis Skills - Essay Example

? Strategic Learning Financial Analysis Skills s Submitted by s: Introduction In current age and era, personal skillsplay an important role for success, hence the need to nurture and continually sharpen them. This is significant in order to make a breakthrough in the market given that jobs nowadays are more competitive than ever. This report features a Student’s skills: life skills, social skills, hard and soft skills, the level achieved so far, suggest areas of development and proposed well laid out plan developed personally to strengthen areas of weakness .This will enable the student not only stand a better chance in the field after completion of his studies but be a be an asset in sought in the market. Personal goal(s) setting gives a sense of direction in academics and helps to avoid distractions as they help to motivate the student and also raise the confidence level of the student a notch higher. The goals set should be sharp and clearly defined, goals the student can use to assess forward progress; how much do you want to earn and by what stage? What are the means or ways of achieving this? These among others are the questions that such a student asks himself. Then the best alternative is picked and focused on; it is also helpful to look at the successful individual in the field and borrow a leaf of what led to their success. Financial analyst in this case need to be vigilant always, having information on their fingertips regarding the economic situation regarding macro-economy, information on specific companies, fundamental micro-economics as well as read a lot widely so as to viable in the market. Background Data from the Bereau of Labor Statistics indicates that financial analysts positions are expected to grow by 23 % between 2010 and 2020, this means 54,200 positions will open up. However, completion for the positions is fierce especially for new analyst hence the need to be relevant so as to be absorbed readily in the market. This means establish a student needs to establish his strengths in the field and polish them to be the best he can be. Median annual earnings in 2011 for financial analyst were $75,650 with the lowest paid 10 % earning $46,300 and the highest- paid 10 % earning $ 145,580; on average the highest paid in the profession work is Bridgeport Conn., New York City and San Francisco. According to research done in Hollywood, it portrays input of long hours one in three put 50-70 hours a week hence need for dedication and readiness to deliver. Among the extra skills needed in the field includes time management since the field is demanding as well as the readiness to work for long hours to reach a target and ensure client’s satisfaction. Skills Analysis According to Mayes and Shank (2010, p. 2), proficiency in the use of software applications relevant to the field is one of the basic requirements which offer a stepping stone for a start in the field. Technology chances with time hence the need to be aware of the new applications and how to put them to use in the field. This can only be known if one makes the effort to go out and seek the information through the internet or reading the latest journals relevant to the field e.g. The Wall Street Journal, The Financial Times, The Economists as well as other also financial websites which contain the information. Mostly the successful analysts in the field have to incorporate simple computer skills that are important during presentations and analysis. The use of spreadsheets, databases, PowerPoint presentations and other software applications are simple but essential tools for a successful financial analyst in the field today. Not only does a financial analyst need to put long hours in the practice, it is also essential to develop interpersonal relationships with other successful financial analysts who have the ability to mentor him in the same field. Interpersonal relationships nay also include relationships with supervisors and other junior analyst who may play a role in the social life of such an upcoming analyst. The end result will not only be the development of a career as a financial analysts, but this field has also the potential to deliver both financial rewards as well as the genuine satisfaction that comes with being an integral part of the business landscape which ias a major requirement in the social life of an individual. Developing interpersonal relationships with superiors and junior analysts helps the student to grow intellectually and have a broad spectrum of the market. This is possible through attending interactive conferences which will also lead to the developing communication skills and people skills is also vital as this will be helpful especially in crafting written and oral presentations to impress senior management. It helps the student gain convincing power and has a leeway with investors. CFA qualification and work experience top the key things employers look for in order to offer and individual a chance. Completion of the CFA is one of the set targets before the end of the academic year as these studies have the potential to adding value to his degree and enabling him stands a better chance in the field. Self marketing skills, professionalism to deliver financial rewards, genuine satisfaction to be sharpened and enhanced as well as bettered so as to ensure smooth transition from a student to a fully qualified professional are acquired in this field of study. Strategic Learner As a strategic learner, the key concepts are recognizing the best learning styles that suit you, commonly referred to as strengths and also the disorders or challenges. Dealing with challenges is the hard part and at times calls for tough measures. There is a specific need to set reasonable and achievable goals with regard to academic potentials and advancement. Parents may be involved and offer support and motivation to the individual as well as encourage and reward exemplary performance. Various factors to be put in place before setting the goals include the timeframe require for completing a task, does it interfere with other aspects of a student time e.g social life and the allocation of time to have fun. It is also important to develop a mechanism of how to streamline the studies to ensure what is read is understood and organized in ways it can be remembered and retrieved and applied into new situations. The VAK model of learning developed by Neil Fleming says that we use 3 methods to interpret information; through visual, audio and kinesthetic method. Results from learning questionnaires of such a method in practice indicate that this tactile method as one of the best learning method followed by visual. It is thus true to conclude that we learn best by seeing and doing things as opposed to just hearing about them being mentioned. Other professionals such as professors in the higher learning institutions propose that there are two types of mind sets that play an important role in all aspects of a person’s life; fixed mind set and growth mind set. Fixed mindset students believe that their abilities, talents and intelligence are fixed traits, as on the other hand growth mindset students on the other hand believe everyone can get smarter if they work at it. Growth mindset students are thus likely to continue working regardless of setbacks; this is the trait that a financial analyst in the making need to have in the expectation of making a successful career. Conclusion Realizing the best method that suits the student ensures that he is comfortable and capable of bringing out the best in him .Challenges when well attended to, covers the weak links. Academically this will produce an all round student capable of handling most areas involving financial analysis without a problem. In case of challenges and other growth areas, the interpersonal relationships created will come in handy in the development of strategies to tackle such. Goal setting is important academically and professionally; academically it will help the student reach the desired scores and still have time for other activities. Professionally, client satisfaction will be guaranteed as deadlines will be met and in the long run, the delivery of quality service. Having a growth mind set is the only way to propel in the industry as a professional and also as a student. It will help in finding ways of doing something better rather than giving up after the failure of the first attempt. It is the right mind set for success and less stressful life. Applying VAK in life to acquire skills from those who have been in the industry longer is the best way to learn i.e. seeing and doing rather than waiting to be taught, will make the student more aggressive in the market. Being aggressive in the market is the only way that an aspiring financial analyst will be able to achieve the goal of earning in excess of ?40,000 a month especially in the current competitive market. This calls for the emotional intelligence necessary for success as well as the ability to work in a team successfully in achieving the set goals. Finally financial analysts not only need to calculate money aspects they indulge in their career but also need to have a critical look at the risks involved in pursuing such a career and if such risks are worthwhile paying off. References Mayes, T. R., & Shank, T. M. (2010). Financial analysis with Microsoft Excel 2007. Mason, Ohio: South-Western Cengage Learning Read More