How to Become a Financial Analyst At Home

A Financial Analyst is someone who handles and evaluates the various financial trends present in a company or organization. They will help leaders within the institution make more informed decisions based on insights gained from trends in the data. Many assume that becoming a Financial Analyst will take an extensive amount of time and effort, including taking time out of your day to make a commute to and from class. However, it’s entirely possible to become a Financial Analyst at home with the rise in remote training methods. You will need to gain skills in the relevant tools and procedures, including but not limited to financial modeling, data analytics software, financial concepts, and market research. You can gain the necessary education through various at-home training methods and eventually work your way towards a professional career as a Financial Analyst.

What Financial Analyst Training Method is Right for Me?

Self-Guided Learning with Free Resources

Teaching yourself a new skill can be challenging, but still possible. Self-guided learning allows motivated individuals to put their learning journey into their own hands and explore topics relevant to their interests and goals. The wide variety of resources available includes anything from website articles and blog posts to video tutorials and social media pages. While this method is customizable, flexible, accessible, and affordable, there are considerable drawbacks. You can learn base-level skills and build a foundation for future skills to be built upon with free resources and through self-teaching. However, the lack of structure is a serious detriment to the learning process. In addition, the depth and accuracy of the information can vary and contradict other sources. This can cause confusion and require you to spend additional time researching and cross-referencing multiple sources. The main disadvantage is that a self-guided learning method is insufficient for a formal education. If you want to become a Financial Analyst, relying on free resources for your training will be a lengthy and ineffective method.

On-Demand Classes

If you still want to teach yourself these new skills but experience a slightly more traditional format, consider on-demand classes. This method offers a flexible yet structured approach to learning new skills. It’s ideal for someone with an incredibly busy schedule who needs to learn at their convenience rather than a set time every day or week. In addition, they are cost-effective, with most classes going no higher than a few hundred dollars. This method also affords a customizable experience but has similar drawbacks to other self-teaching methods. Although on-demand classes offer course materials and guidelines to help you follow along with the material, there is limited interaction. The lack of an instructor means you will have to answer your questions, troubleshoot errors entirely solo, and seek feedback from others who may or may not have the necessary experience. These limitations make this learning method ineffective for gaining professional-grade skills but can be worthwhile for someone who already has financial analysis experience and needs to upskill.

Bootcamps

Among the live training options, bootcamps are one of the most effective methods. This is mainly because they occur in real time and have a professional instructor who guides students through the material and assists with any difficult tasks. You can typically choose from in-person or live online training as well as full-time or part-time options. This is a hands-on approach to learning, which involves collaborating with others, participating in class discussions, and completing hands-on projects. A bootcamp also provides a quick-paced environment that values professional development most of all. This ensures that students pick up practical skills instead of spending time on theoretical concepts, so you will gain the knowledge needed to immediately apply your skills in the workplace. Of course, this learning method can be relatively costly compared to self-guided methods and requires some type of structured schedule. While this may not suit everyone’s learning style or budget, a bootcamp is an adequate and practical method of learning financial analysis.

Certificate Courses

Among the best options is a certificate course that offers hands-on, immersive instruction on a particular subject. This option is best for students who have ample time to spend learning their new skills. Certificate courses not only offer students a thorough, formal education in their chosen subject, but they award students with an official, verified credential that can be added to a resume, discussed in a job interview, or shared on a LinkedIn page. Because certificate courses also value career readiness, they offer myriad benefits to support students through their learning endeavors and future job search. Gaining a certificate at the end of the course is proof that you have acquired the necessary skills to succeed in the financial analysis world and can make you look more credible as a budding professional. Plus, you can certificate courses as a way to study and prepare for certification exams. The higher cost of these classes may deter some folks from enrolling, but many training centers offer payment plans and financing options. In addition, they require consistency and practice which may be challenging to fit into a busier schedule. Regardless, if you want to become a financial analysis professional, this is one of the most successful ways to do so in as little time as possible.

What is a Financial Analyst?

A Financial Analyst takes data from various financial resources and determines what needs to be changed or maintained based on their insights. They will evaluate this financial data to help organizations make better investments and decisions related to resources, employ effective marketing tactics, push products that are more likely to succeed, and overall improve business practices. They handle budgeting and resource allocation and plan for the financial future of the company. Overall, they are a helpful guide in ensuring the success and competitive growth of the company through their data-driven decision-making skills.

Among the many tasks and skills a Financial Analyst acquires, they will learn how to create financial models and research trends in the market. This helps them gain more insights into the field as well as determine what steps need to be taken next to increase profits. In addition to analyzing data, they will create data visualizations that help describe their findings to stakeholders and others invested in the business. Data visualizations can help even the layman understand what the data displays. To do all this, a Financial Analyst will use several tools and technologies ranging from data visualization software to coding languages and more.

In essence, Financial Analysts can work in any industry and from anywhere in the world. They are needed in any industry or at any business that values profit and seeks financial stability. In addition, they can find employment across anything from small businesses and large corporations to government agencies and financial firms. They will often work in-office, but can easily find remote positions and freelance opportunities depending on their skill level, location, and the company where they are pursuing a position.

Can I Learn to be a Financial Analyst from Home?

If you want to become a Financial Analyst but have a rigid schedule or live in a rural area, you still have plenty of options. You can learn to be a Financial Analyst from home through different live online methods such as courses, bootcamps, workshops, and certificate courses. You can also explore other online resources that are self-guided, but they are purely supplemental to the live, professional training you can receive. This will allow you to explore different subjects and tools, ask for feedback and clarification when necessary, collaborate with others, and feel more prepared to enter the field of your choice as a Financial Analyst. All in all, learning from home can be an incredibly rewarding and necessary task that helps you take one step closer to your professional goals.

What are the Advantages of Learning from Home?

Learning any new skill from home offers considerable benefits that other training methods do not. To start, this is an incredibly flexible method that is ideal for those with difficult schedules. You can explore classes that fit in between your other responsibilities and allow you to participate fully without concern. Moreover, learning from home is an easier option for those who live in a rural area or who otherwise may not have the ability to appear in a classroom. Additionally, learning from home is often more cost-effective compared to in-person methods, and students will save money on a commute. Remote students usually have access to a wide variety of resources, perspectives, and ideas as well.

Most importantly, live online classes are as interactive as possible and attempt to mirror the structure of a traditional in-person class. In a live online course, you can still gain a detailed, all-encompassing education on financial analysis skills while learning from a comfortable space. Live online classes provide added benefits that on-demand and other hands-off methods cannot, which are the collaborative processes and real-time interaction between the instructor and students. Notably, students in a remote learning environment typically benefit most from being able to ask questions and gain feedback.

What are the Disadvantages of Learning from Home?

Although there are myriad reasons to learn from home, no learning method is perfect. Learning from home requires a quiet space to learn and study, which may be hard to come by if you have a particularly full house or busy schedule. In addition, there’s no need for a commute, but there can be other time-consuming issues such as technical difficulties. It’s common to experience storms that disrupt WiFi connections or connectivity issues due to the strength of the internet service. If you miss out on even a small portion of the class, you can fall behind and perhaps feel less compelled to catch back up. This can also change the outcome of the course's effectiveness in terms of interactivity and collaboration. In addition, learning from home requires strong motivation and dedication, which can fizzle out as the course progresses if you do not possess the discipline and determination needed to complete projects and activities. There are many advantages to learning from home, but the disadvantages are worth considering since they may alter the way you experience the course.

What Resources are Available to Help Me Become a Financial Analyst at Home?

As touched upon previously, there are many ways to become a Financial Analyst at home that may benefit some groups more than others. If you want to become a Financial Analyst from the comfort of home, consider the other resources you have to help you through this process. Between self-taught methods and live training options, you have plenty of options. However, it’s important to consider the benefits and drawbacks thoroughly.

Free Resources

People are drawn to using free resources for their accessibility. Using a free resource to learn financial analysis is customizable, flexible, accessible, and affordable. You can pick and choose which sources you want to learn from. Plus, having a wide array of sources is ideal for those who learn from different multimodal formats. They’re easy to find regardless of what you are searching for specifically, which is perfect for times when you need to return to your materials and refresh your memory.

The quality of these resources will vary, however, particularly if they are outdated or simply include misguided or inaccurate information. The lack of structure makes it more challenging to learn the material and can make it more difficult to track your progress. In addition, the lack of support makes students feel isolated and unsure of where to turn to if they have questions or need help with relevant software.

On-Demand Classes

On-demand classes provide a flexible way to learn a new skill with slightly more structure than the average free resource. Because it’s coming from a course provider, the material is likely to be more credible as well. These are easy to access as they’re typically anywhere from ten dollars to a couple of hundred dollars and the learning process can be customized to your liking.

However, on-demand classes are limited in their interaction with others, which is detrimental for those who want to become professionals. An on-demand class also requires exceeding dedication in comparison to other methods since students will be required to monitor their progress, answer their questions, and teach themselves the material. There’s a larger chance of encountering distractions and falling off track with the course material. In addition, you may end up wasting money if the on-demand class is offered only in a bundle of other courses that may not suit your needs or goals. 

Live Online Classes and Bootcamps

Live online classes and bootcamps are educational programs that occur in real-time and help students learn the material through instructor interaction, hands-on projects, and peer collaboration. These programs usually focus on a particular skill or subject and zero in on the most practical aspects of the job. They typically mirror an in-person class to the best of their ability and hope to assist students in their goals of becoming professionals.

The consistent engagement makes this course especially effective. Students will work alongside peers and learn from an expert instructor who can provide feedback, answer questions, and help troubleshoot errors. The curriculum fosters a professional learning environment that feels neutral despite students learning from the comfort of home. This method also helps hold students accountable by ensuring they show up each time, lest they want to waste their money.

Of course, there’s a strict schedule to follow when enrolled in a live course, even if it’s online. You may experience technical issues that deter you from learning at the pace you need to and you may feel as though it’s slightly less immersive than the average in-person course. In addition, these classes are slightly more expensive than the average self-taught method. However, the time, effort, and money you put into a live online class or bootcamp pays off substantially in the long run since you’ll gain the necessary skills to consider yourself a professional.

How to Find Financial Analyst Work at Home

Not only can you learn financial analysis from home, but you can find at-home employment as well. To find a Financial Analyst job at home, you will need to first build a strong foundation of skills through immersive educational opportunities and extensive practice. After you’ve learned the necessary skills, you can turn to numerous networks to search for the right job for you. There are many remote work opportunities, it all depends on your preferences and where you plan to search.

Freelance Opportunities

Freelancing as a Financial Analyst involves contracting with different companies and organizations rather than being employed on a full-time basis. In essence, you are self-employed and can set up a customized schedule, establish your pay rates, and determine what projects you will specialize in. Additionally, you can work in virtually any industry or multiple industries at once. This is a flexible (and profitable) way to earn a living that requires you to obtain additional skills outside of the financial analysis field. You will manage yourself like a business, which means you deal with logistics, contract negotiations, tax responsibilities, and other organizational efforts to ensure the success of your freelance business. It’s a highly desirable position for many who prefer autonomy and flexibility in their work life.

Financial Analysts can be freelance professionals through numerous means, both in-person and online. You can search online for websites specific to freelancing, such as Freelancer or Upwork, or explore job postings on company websites. Additionally, you can explore social media platforms and other networking sites to see if there is more information locally, regionally, or nationally for freelance professionals. You can also join forums, chatrooms, and discussion boards relevant to your field to see what they think about the market for a freelance Financial Analyst.

Finding Remote Jobs as a Financial Analyst

Similarly, remote Financial Analysts experience work lifestyles much like freelancers but with the safety net and support of a permanently hired employee. You can find remote jobs any place you can find a traditional in-house job, such as LinkedIn, Glassdoor, and Indeed. However, some platforms specialize in remote work such as FlexJobs. Still, many companies will post their remote job positions on their company websites or even share their new openings on their social media pages. You can explore remote Financial Analyst positions in different industries too, ranging from healthcare and finance to technology and retail.

A remote Financial Analyst will be responsible for the same job functions as someone who works in the office. You will conduct financial analysis through different means and with various data sets to determine the next best steps. This will include conducting financial modeling, creating data visualizations, and making detailed reports. As a remote employee, you’ll be required to communicate effectively via email, Slack, Teams, or video-conferencing applications. A remote employee needs to place a concerted amount of effort towards collaboration and staying in touch with clients, employers, and stakeholders to be successful.

How Will Remote Work as a Financial Analyst Differ from On-site Work?

Remote work is relatively similar to on-site work in terms of the assigned tasks and requirements. However, the two differ significantly in the dynamics of interacting with others. Remote Financial Analysts need stronger communication skills than those who work in-house and will have to work harder to build relationships with colleagues and clients. Additionally, since you are not present in the office, this lack of a neutral environment may lead to more distractions. On the other hand, many agree that working from home helps maintain productivity and optimizes workflow.

Furthermore, working from home requires strong time management skills. In an office setting, you may have colleagues or superiors checking in on your progress and reminding you of certain tasks that need to be completed. While this can still occur while working from home, it is more likely that you will have to handle your own time and tasks as suited to your needs and schedule. On the other hand, remote Financial Analysts typically enjoy the extra freedom and trust that working from home provides them. 

Learn the Skills to Become a Financial Analyst at Noble Desktop

Noble Desktop offers many ways to become a Financial Analyst, from beginner-level classes to more advanced programs. Their Financial Analyst Training Program is designed to take students beyond the basics and into the more intermediate and advanced financial analysis skills. In this course, students will learn how to use Excel extensively, including functions like formulas, Pivot Tables, and shortcuts. The instructor will show students how to use Excel for financial modeling as well, including techniques like Goal Seek and using different cash flow projection tools. In this course, students will build an integrated three-statement financial model and develop corresponding financial reports. Over 30 hours of total instruction, students will become proficient Financial Analysts and earn a free retake of the course and a verified certificate of completion.

Likewise, the FinTech Bootcamp from Noble Desktop teaches the necessary subjects and skills to become a Financial Analyst, including Python programming, data visualization, and machine learning. Students will learn how to complete projects rooted in a realistic, professional situation. They will work with SQL to query databases, create visualizations with Python, and use advanced querying techniques like subqueries and timestamp functions. Additionally, the instructor will teach complex financial topics like WACC, NPV, and IRR. The students will create animated bar chart races, heat maps, double line graphs, and other visualizations that help display trends in data. All in all, this course offers a varied educational experience across its 114 total hours. Students will have access to a free retake and a free elective course in addition to a bonus mentoring session. Once they complete the course, students will earn their certificate of completion.

If you want to zero in on financial modeling specifically, you can enroll in Noble Desktop’s Financial Modeling Bootcamp. This course allows students to work for a real company and, as such, gives students practice with numerous financial models, such as three-statement financial models, leveraged buyout models, and discounted cash flow models. Students will learn necessary Excel techniques, investment banking concepts, and equity research among the many other financial and accounting skills covered. This 18-hour course comes with workbooks, class recordings, a free retake, and small class sizes. Once you’ve completed the course, you will earn a certificate of completion that can be displayed on your resume or LinkedIn page.