Is being a Financial Analyst a good career choice?

By Robert Half on 28 November 2023

Singapore has strengthened its position as a leading financial hub, attracting global investment because of its open business environment, digital infrastructure, and highly skilled workforce.

Consequently, companies in Singapore rely on experienced financial analysts to support business growth by identifying trends in financial data and helping senior management make informed decisions.

Whether you are just starting your career or have experience in this position, here is some vital information to help guide you in your job search or your career path to becoming a successful Financial Analyst in Singapore.

Why are Financial Analysts in-demand in Singapore?

Is becoming a Financial Analyst a good career right now in Singapore?

Yes, it is.

Following the impact of the pandemic on financial markets, companies in Singapore are looking for specialists who can identify opportunities for increasing business in the years ahead and can interpret financial data and turn it into solid business recommendations.

The departure of one-eighth of Singapore’s workforce since 2020 alongside strong growth in the finance sector and record job vacancies is creating a highly competitive market in the Lion City.

Consequently, roles such as the Financial Analyst are now booming in demand with organisations struggling to find, attract and retain such talent in a competitive market.

Gina Chia, division director at Robert Half and specialised finance and accounting recruiter says, "financial analysts are highly sought by mid-large sized businesses as they continue to prioritize making data-driven decisions. As a financial analyst, you will have the opportunity to help drive financial results and play a key role in making strategic business decisions."

What are the responsibilities of the Financial Analyst?

CFOs in Singapore say there is an increasing need for specialised knowledge and for professionals who can "drill down" on all financial data collected and quickly provide analyses to enable better business decisions, project a company’s future earnings and make recommendations to management based on their findings.

A Financial Analyst needs top-notch decision-making skills. And they need to be able to contribute to department-specific and overall business strategies and provide data-based solutions grounded in solid analysis.

They are also expected to translate reports and forecasts into easy-to-understand advice that streamlines processes, improves efficiency, saves time and money, and prepares the company for growth.

Job hunting? Check out our open Financial Analyst positions in Singapore.

If you want to work in finance, but you are not sure if any of the Financial Analyst jobs you see are right for you, consider seeking something similar as a Budget Analyst, Financial Manager or Senior Accountant.

What skills and qualifications does a Financial Analyst require?

Singaporean managers hiring for Financial Analyst jobs typically write job descriptions that call for candidates with a bachelor’s degree in finance or a related field, and often an MBA, particularly for senior-level positions.

Accounting certifications, such as the Chartered Financial Analyst (CFA), commonly required in financial services, demonstrate knowledge and expertise to prospective employers and clients.

In addition, Singaporean hiring managers expect Financial Analysts to have:

  • Knowledge of current financial software, including Microsoft Excel and enterprise resource planning (ERP) systems
  • Data analytics skills, including the ability to observe meta-patterns
  • Strong interpersonal skills in order to convey their recommendations clearly and effectively
  • A detail-oriented approach, decision-making abilities and communication skills involving collaboration, tact and diplomacy are also important
  • Be self-starters willing to dig deep into research
  • Able to work independently with minimal supervision

What does a Financial Analyst make in Singapore?

A financial Analyst in finance control with less than a year of experience can expect a salary of SGD$55,000, according to the Robert Half Singapore Salary Guide. For more tenured finance professionals with senior level experience and specialisations can earn in the region of SGD$78,000.

Are you an employer looking for a Financial Analyst in Singapore? Contact us today to find the right role for you.

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