Financial Analysis and Analytics (online) (2024)

FAQs

How many questions are asked in FPA? ›

Of those, 110 questions are scored and 30 questions are unscored pretest items. The FP&A Part II exam contains 55 questions. Of those, 47 questions are scored and 8 questions are unscored pretest items. Candidates have no way of distinguishing between scored and unscored questions.

Technical training, financial literacy, accounting knowledge, and analytics training are among the hard skills required for Financial Analysts. They should also possess soft skills such as critical thinking, clear communication, problem-solving, and leadership.

While certain people find the pace of financial analytics to be exhilarating, challenging, and exciting, it can be stressful and even exhausting to others. In addition, the soft and hard skills necessary to be a successful Financial Analyst take years of education and training to acquire fully.

How much does a Fpa make? As of Apr 4, 2024, the average annual pay for a Fpa in the United States is $92,631 a year. Just in case you need a simple salary calculator, that works out to be approximately $44.53 an hour. This is the equivalent of $1,781/week or $7,719/month.

Typical profile of an FP&A senior analyst

Senior analysts usually come from accounting backgrounds and have 3-5 years of experience and an MBA. To continue advancing, senior analysts should be: “Good at dealing with people”: Communication skills will become increasingly important the further you go in your FP&A career.

The need to manage risk

Financial analysts need to be able to manage risk effectively. This means being able to identify and assess risks and developing strategies to mitigate those risks. Despite these challenges, analysts play a significant role in the finance sector.

In order to get an entry-level financial analyst job, you first need a bachelor's degree in accounting, finance, or a related field. You should also have a strong background in data, as well as excellent analytical skills. You need to be able to navigate various software in order to write and put together your reports.

#1 Sample answer for a mid-level candidate

“I'm someone who loves solving problems, so in five years, I'd love to be seen as the go-to financial analyst when departments or projects need to save money and achieve their business goals.

Math skills : =Financial analysts need to be efficient in math, but their level of knowledge depends on the specific role. For example, an investment banker only needs basic math skills, but a fixed-income analyst needs to use complex equations to complete the tasks associated with their job.

What is the highest salary of a financial analyst? ›

The salary range for a financial analyst is $38K-$725K. The average salary for a Financial Analyst in US is $86,009.

They need both strong math skills—specifically in statistics and probability—and computer literacy, as analysts use software to look at trends and make forecasts. These professionals should also have a good grasp of economics and know how to read and interpret financial statements.

Taking into account those personality differences, there are also differences in the content of finance and accounting that can determine that one is harder than the other. Generally speaking, people consider accounting majors to be more difficult to study and pass than finance majors.

Even though Financial Analysts work long hours and sometimes must handle a lot of stress in the workplace, these professionals are well-compensated for their efforts.

Salary. Data analysts typically earn a national average salary of $67,271 per year . In comparison, financial analysts earn about $67,786 per year . While these salaries are similar, they may vary based on your education, experience level and location.

How do you model revenues for a company? This is one of the most common FP&A interview questions. There are three common ways to forecast revenues: bottom-up, top-down, and year-over-year.

The FPAC Exam

The Certified Corporate FP&A Professional exam is a two-part comprehensive computer-based exam consisting of multiple choice and spreadsheet-based questions. Part I of the exam tests your knowledge of business acumen, while Part II will test your ability to apply that acumen to real-world scenarios.

Yes, FP&A Analyst certifications can be a significant asset for those transitioning from a different career path. These certifications typically cover essential financial planning, analysis techniques, and best practices, equipping career changers with the specialized knowledge needed in FP&A roles.

Each grade is weighted to a specific number of points so that the sum total makes up your grade point average (GPA), which in turn reflects your overall academic performance. A good college GPA on a standard 4.0 scale can fall between 3.0 and 4.0—or between a B and an A+.