How to hire financial analysts
How would you create a formula for business success? That’s basically the question financial analysts the world over attempt to resolve every day by feeding financial data into predictive models to help business owners make better decisions.
So how do you hire financial analysts? What follows are some tips for finding top financial analysts on Upwork.
How to shortlist financial analysis professionals
As you’re browsing available financial analysis consultants, it can be helpful to develop a shortlist of the contractors you may want to interview. You can screen profiles on criteria such as:
- Industry fit. You want a financial analyst who understands your industry so they can create accurate forecasts and models.
- Project experience. Screen candidate profiles for specific skills and experience (e.g., creating financial models in Excel).
- Feedback. Check reviews from past clients for glowing testimonials or red flags that can tell you what it’s like to work with a particular financial analyst.
How to write an effective financial analysis job post
With a clear picture of your ideal financial analyst in mind, it’s time to write that job post. Although you don’t need a full job description as you would when hiring an employee, aim to provide enough detail for a contractor to know if they’re the right fit for the project.
An effective financial analysis job post should include:
- Scope of work: From financial reports to forecasts, list all the deliverables you’ll need.
- Project length: Your job post should indicate whether this is a smaller or larger project.
- Background: If you prefer experience with certain industries, software, or technologies, mention this here.
- Budget: Set a budget and note your preference for hourly rates vs. fixed-price contracts.
Ready to leverage financial data in your business decisions? Log in and post your financial analysis job on Upwork today.
FINANCIAL ANALYSTS FAQ
What is financial analysis?
Financial analysis involves the application of data analytics to the finance world. A financial analyst will look at factors such as market trends, economic health, and business intelligence and generate financial forecasts and reports that help businesses better manage their assets and revenue growth.
Here’s a quick overview of the skills you should look for in financial analysis professionals:
- Financial analysis, modeling, and forecasting
- Micro- and macroeconomics
- Data analytics tools and technologies (e.g., spreadsheets, linear programming, SQL)
Why hire financial analysts?
The trick to finding top financial analysts is to identify your needs. Do you need someone to track stocks, bonds, equities, and other elements of the financial market to help your business make better investments? Do you need hard technical skills such as machine learning to help you implement a new trading algorithm? The cost of your project will depend largely on your scope of work and the specific skills needed to bring your project to life.
How much does it cost to hire a financial analyst?
Rates can vary due to many factors, including expertise and experience, location, and market conditions.
- An experienced financial analyst may command higher fees but also work faster, have more-specialized areas of expertise, and deliver higher-quality work.
- A contractor who is still in the process of building a client base may price their financial analysis services more competitively.
Which one is right for you will depend on the specifics of your project.