Analyst Jobs
Let's face it - I am not really an accountant, though I qualified as a Management Accountant for the purpose of Skilled Migration. Not only is accounting an annoying task for me most of the time, I am spiritually allergic to accounting for interest (I break into a rash, die and go to hell).
But when I have to build an accounting system for a particular purpose, I have a private geek party with tea and biscuits and get all excited. I'm really an analyst or a spreadsheet/ database architect at heart and above all I love to analyse performance metrics and make keen observations.
There are a good number of positions advertised on job search engines for Analyst positions. The term has traditionally been used in the last few years to refer to positions that liaison between business managers and the IT department. However, the term is also used to refer to entry-level recruits in sectors such as banking, and more recently, to skilled jobs that involve a high proficiency in data analysis (financial or otherwise).
Like other professions such as accounting, entry-level positions may start between $50-75k p.a. and positions that require some experience are well placed between $75-100 thousand in a year. Specialized positions easily start at $100-120k and can go sky high.
Entry-level positions are usually more concerned with data management and analysis rather than the strategic value of such information. For e.g. a junior-level data analyst will spend more time collating data while a mid-level Reporting Analyst position will entail preparing management reports, and a senior level Business Analyst position will explain the reports to management and influence decision making. Of course, this is a general observation and there may be junior level positions that entail all three tasks while a highly specialized senior position may require only administering data.
While there are an untold number of designations that use the term in this way, they usually require solid proficiency in analytical and modelling tools such as MS Excel as well as data querying abilities such as SQL scripting or MS Access. Most positions may either ask for a business degree, accounting qualification and/ or significant experience in working with management at some level as an aide to decision making. While many require significant exposure to financial systems such as SAP, Hyperion or TM1, knowledge of and experience in statistical tools such as SAS or SPSS can be an ace up your sleeve, while dashboarding skills using Tableau or BI systems are becoming increasingly popular and important. Interestingly most of these tools are easily accessible on the job or even through free online courses.
Analyst jobs usually have a certain 'orientation' that leans more heavily towards finance, data or consulting. Financial analysts scrutinize company or managerial accounts to come up with financial insights. Business (or commercial) analysts research company laws and literature and may spend more time coming up with qualitative rather than quantitative insights. Data analysts are of course more concerned with data management and analysis of all kinds, including financial and non-financial data such as marketing survey results or portfolio analysis.
The path to specialization and high paying positions diverge from this point, depending on the axes you intend to climb. Pure financial analysts positions usually require a CA/ CPA qualification and a few years of PQE (post-qualification experience) hopefully in a large accounting or Big Four firm, while a financial systems analyst may require a number of years of financial systems programming experience in addition to or instead of the CA/ CPA. Commercial analysts may need heavy industry exposure and be very familiar with laws and public policies in addition to years of management consulting experience.
Data analysts need to be versatile with all kinds of analytics tools. For example, Apex Consulting, a recruiter for Analytics mentions:
At the same time, taking a course or to from Coursera in Data Analysis or Statistical Computing in R will be time well spent. And for those who really want to get in with it, another course or two in Programming Skills in a language such as Python, or at least some time spent in analysing and tickering with the VBA code behind Excel macros.(by the way, R and Python are both open source, free software that are frequent alternatives to the big name products mentioned earlier.
Acquiring these certifications and skills can take as little as a few weeks or months to really step up your profile. And if you are still not confident, go in for a PMP certification as Analyst jobs have implicit project management capabilities. The PMP certification is also relatively inexpensive and quick.
This path inevitably leads to jobs closely aligned with Big Data - the industry everyone wants to be in lately since it will be driving the future. According to this article, Australia is facing a lack of skilled labour in this area and is desperate to emulate the way companies in the US are using big data to drive customer experience and sales.
Techical proficiencies for such positions (typically as a Data Scientist in media agencies) are typically 3+ Years in a Data Analytics position using SPSS or R, strong scripting and coding abilities in SQL and good knowledge of econometric statistical modelling, market mix modelling, predictive analytics as well as a good understanding of business intelligence, data warehousing, visualisation and dashboarding with tools such as Tableau. PhD or Masters is highly beneficial.
The Hays Quarterly Report for Accountancy & Finance - Commerce & Industry (Oct-Dec 2013) discusses more noteworthy trends in the market, which are mainly the demand for qualified finance professionals with hands-on Information Systems skills. Temporary assignments are available for candidates with advanced Excel and financial modelling skills in order to develop budget models and operational cost models. New job creation is expected to commence once again with the federal election behind us.
Nick Deligiannis, Managing Director of Hays Australia summarizes thus:
But when I have to build an accounting system for a particular purpose, I have a private geek party with tea and biscuits and get all excited. I'm really an analyst or a spreadsheet/ database architect at heart and above all I love to analyse performance metrics and make keen observations.
There are a good number of positions advertised on job search engines for Analyst positions. The term has traditionally been used in the last few years to refer to positions that liaison between business managers and the IT department. However, the term is also used to refer to entry-level recruits in sectors such as banking, and more recently, to skilled jobs that involve a high proficiency in data analysis (financial or otherwise).
Like other professions such as accounting, entry-level positions may start between $50-75k p.a. and positions that require some experience are well placed between $75-100 thousand in a year. Specialized positions easily start at $100-120k and can go sky high.
Entry-level positions are usually more concerned with data management and analysis rather than the strategic value of such information. For e.g. a junior-level data analyst will spend more time collating data while a mid-level Reporting Analyst position will entail preparing management reports, and a senior level Business Analyst position will explain the reports to management and influence decision making. Of course, this is a general observation and there may be junior level positions that entail all three tasks while a highly specialized senior position may require only administering data.
While there are an untold number of designations that use the term in this way, they usually require solid proficiency in analytical and modelling tools such as MS Excel as well as data querying abilities such as SQL scripting or MS Access. Most positions may either ask for a business degree, accounting qualification and/ or significant experience in working with management at some level as an aide to decision making. While many require significant exposure to financial systems such as SAP, Hyperion or TM1, knowledge of and experience in statistical tools such as SAS or SPSS can be an ace up your sleeve, while dashboarding skills using Tableau or BI systems are becoming increasingly popular and important. Interestingly most of these tools are easily accessible on the job or even through free online courses.
Analyst jobs usually have a certain 'orientation' that leans more heavily towards finance, data or consulting. Financial analysts scrutinize company or managerial accounts to come up with financial insights. Business (or commercial) analysts research company laws and literature and may spend more time coming up with qualitative rather than quantitative insights. Data analysts are of course more concerned with data management and analysis of all kinds, including financial and non-financial data such as marketing survey results or portfolio analysis.
The path to specialization and high paying positions diverge from this point, depending on the axes you intend to climb. Pure financial analysts positions usually require a CA/ CPA qualification and a few years of PQE (post-qualification experience) hopefully in a large accounting or Big Four firm, while a financial systems analyst may require a number of years of financial systems programming experience in addition to or instead of the CA/ CPA. Commercial analysts may need heavy industry exposure and be very familiar with laws and public policies in addition to years of management consulting experience.
Data analysts need to be versatile with all kinds of analytics tools. For example, Apex Consulting, a recruiter for Analytics mentions:
Key skills recruited generally lie within Insight, Analytics and Modeling within Marketing, Customer, Risk, Fraud and Web Analytics utilising SAS (SAS Base, SAS Macro, SAS E-Miner), SPSS (SPSS Clementine, SPSS Modeler), and SQL (Teradata, Oracle, SQL Server etc), Excel/Access, VBA and PowerPointWhile not everyone may have the extensive skills lined up above, Excel and database querying skills with a dash of SQL usually does the trick. For those with an aptitude for more serious specialization, the MCSE (Microsoft Certified Solutions Expert) is a prized qualifications that really proves your mettle, starting at ground level with the MTA (Microsoft Technology Associate) Database track for $52 a pop on each exam and whatever you can spare for training (which is free for those who can self-learn).
At the same time, taking a course or to from Coursera in Data Analysis or Statistical Computing in R will be time well spent. And for those who really want to get in with it, another course or two in Programming Skills in a language such as Python, or at least some time spent in analysing and tickering with the VBA code behind Excel macros.(by the way, R and Python are both open source, free software that are frequent alternatives to the big name products mentioned earlier.
Acquiring these certifications and skills can take as little as a few weeks or months to really step up your profile. And if you are still not confident, go in for a PMP certification as Analyst jobs have implicit project management capabilities. The PMP certification is also relatively inexpensive and quick.
This path inevitably leads to jobs closely aligned with Big Data - the industry everyone wants to be in lately since it will be driving the future. According to this article, Australia is facing a lack of skilled labour in this area and is desperate to emulate the way companies in the US are using big data to drive customer experience and sales.
Techical proficiencies for such positions (typically as a Data Scientist in media agencies) are typically 3+ Years in a Data Analytics position using SPSS or R, strong scripting and coding abilities in SQL and good knowledge of econometric statistical modelling, market mix modelling, predictive analytics as well as a good understanding of business intelligence, data warehousing, visualisation and dashboarding with tools such as Tableau. PhD or Masters is highly beneficial.
The Hays Quarterly Report for Accountancy & Finance - Commerce & Industry (Oct-Dec 2013) discusses more noteworthy trends in the market, which are mainly the demand for qualified finance professionals with hands-on Information Systems skills. Temporary assignments are available for candidates with advanced Excel and financial modelling skills in order to develop budget models and operational cost models. New job creation is expected to commence once again with the federal election behind us.
Nick Deligiannis, Managing Director of Hays Australia summarizes thus:
We are witnessing a degree of skill shortages in Australia. Our recruitment landscape has shifted from mining-led to a system of micro-economies. While demand is not evident in every function in every region, we are seeing sustained demand for specific skills in the more traditional disciplines such as accountancy and finance, IT and sales and marketing. A factor behind much of the demand is the focus of organisations on structural change to drive improved productivity levels.
Salary growth will be modest in 2013-14 despite the expected growth in confidence in the economy.
Employers are increasingly selective and there is a focus at present on recruiting candidates with a Chartered or Big Four trained background. Employers are also looking for a broad skill set in order to gain the most value from new hires.As the Hays Salary Guide for 2013 points out,
Candidates with strong financial modelling and IT skills were highly sought by employers who looked to them to help drive improved corporate governance and business efficiencies within their organisations.
We have seen an increased demand for candidates in the operational risk and audit areas as well as technology and finance.However, experience in financial services just doesn't work for certain sectors such as FMCG according to one recruiter. From a survey of the market, most analyst jobs were advertised in the financial services industry but not there were relevant positions in all sectors.
http://forums.whirlpool.net.au/forum-replies.cfm?t=2204957
ReplyDeleteRead the above thread. I hope you have more luck.....
I completed my degree in Accounting in 2009 from Griffith University as an international student and acquired Australian citizenship in 2012. I've applied in numerous graduate/entry level jobs in accounting since my graduation but in vain. Only a few of the employers who actually provided some feedback put it down to my lack of experience in the profession. Although I can see their point of view but seriously, I have got no idea how can I have professional experience without having a job first. I understand that such jobs are easier to find through network but again as an immigrant into Australia I do not have any professional network either.
I am genuinely interested to make a strong career in the profession. I sincerely want to become a fully qualified Chartered Accountant. Can someone please advise how to get my foot into the door?
Any advice/suggestion will be much appreciated. Thanks a lot.
Thanks for posting here. It's not surprising a fresh graduate would be having difficulties, there are very experienced candidates in need of a job! However, there are two things here that can help: 1. A positive frame of mind (not a defeated one) , putting oneself in the employer's shoes and asking 'would I hire me?'. It's not so much the experience as the level of confidence that counts, have to understand you're in a competitive market and learn to build on strengths 2. Getting experience is not hard... you can go out there and do internships, volunteer work, freelance projects, even your own projects as long as you are gaining real experience. At this stage you need to work on your skills, so maybe some exploration into database admin or programming skills might make you eligible for a lot of the analyst jobs discussed in this post.
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