Which is a better career option, a financial analyst or a business analyst?
Really depends on what sort of work you personally prefer.
Though for me it would be Business Analyst but I am biased because I am one!
Though looking at salary in the UK
Compared to a Business Analyst
Job Descriptions Job Description: Financial Analyst
A financial analyst researches macroeconomic and microeconomic conditions along with company fundamentals to make business, sector and industry recommendations. They often recommend a course of action, such as to buy or sell a company’s stock based upon its overall current and predicted strength. An analyst must be aware of current developments in their specialist fields and be involved in preparing financial models to predict future economic conditions, and making those all important recommendations and conclusions.
As a business analyst you’ll work within an organisation, helping to manage, change and plan for the future in line with their goals. This could be for one specific project, or as a permanent feature of the organisation. You’ll need to understand the current organisational situation, identify future needs and create solutions to help meet those needs, usually (but not always) in relation to information and software systems.
You’ll need to demonstrate excellent understanding of the way the organisation works and the sector it operates in, as you’ll be helping the organisation to develop its functions, services and products to meet goals with internal and external stakeholders.
You’ll also play a key role in communicating between internal departments and external parties, acting as a ‘translator’ where necessary to convey how information technology can support the organisation’s needs.
Though this article may help make your mind up — Alastair Majury on “What does being a BA mean to you?”
I came across this thread on LinkedIn titled — “What does being a BA mean to you?”.
The original post is:
“What does being a BA mean to you?
As someone very passionate about what I do, I will like to read and know how you feel being a BA (including Data, Systems, Infrastructure, … Analysts).
Please share your thoughts.”
And here are some of the responses:
“I think we BAs are lucky to be given the opportunity to have a job where we help people understand and describe problems they are facing, and then help them come up with solutions. We get to work with lots of different kinds of people, in mostly collaborative, rather than stupidly competitive, environments. We are also fortunate to work in a domain where there is lifelong learning.”
This one in particular resonates with myself:
“It is the breadth and variety of what we do (elicitation, facilitation, collaboration, listening, questioning, analysis, planning, organizing, documenting, illustrating, communicating, presenting, tracking, tracing) and who we work with (Sponsors, Business, Architects, Developers, Testers, Project Managers) that I enjoy most.
1 — Working with the business to understand and describe the problem and what is to be achieved,
2 — Collaborating with SMEs, Architects, and other analysts to define a solution for the problem,
3 — Organizing the requirements for the solution so that the development team can leverage them to build the solution, and making sure the team has a clear understanding of the requirements, and
4 — Ensuring that the solution that is built meets the needs of the business.
I enjoy being the liaison between business and developers.”
“ I enjoy the essential thrownness that every business problem presents, the hermeneutic turn in modeling inquiry, and the reification of aporia. When the client’s complete aporia is reified and made apparent to the client I feel that my whole obligation to the client has been fulfilled. This is not a profession for doormats or dolts.”
“BA work is beyond requirements, facilitations,collaboratiom etc…we wear many hats, depending on the need of the hour. The only piece so far , missing , is writing code. But, i am sure there are BA’s out there that have done that as well and tested it too,just to be sure…:)”
“As a BA, I’ve worn several hats. Requirements gatherer, facilitator, collaborator, data analyst, developer, unit tester, and so many others. It depends on the day and the client need.”
“hi, if you’re questioning BA role purely from emotional/feeling perspective, look at the role of someone who feels the pain of all parties impacted by a change as well as all players who make the change happened, feels the pain and has skills to balance it out providing rationale, information, illustrations, whatever it takes to influence balanced decision making”
“ We take an empty slate and populate it with deliverables. Sometimes we deliver the goods. Other times, team members deliver the goods. We ensure delivery is according to best practices — well defined plans, validation tests, documentation, coordination between teams and stakeholders, and sometimes we make pretty the deliverable that is at first not-so-pretty. Making delivery possible, orderly, and neat.”
Accuracy of your personal data is important please read:
Alastair Majury resides locally in the historic Scottish city of Dunblane, and is a Principal Consultant and a Senior Regulatory Business Analyst working across the country. Alastair Majury also serves on the local council (Stirling Council) as Councillor Alastair Majury where he represents the ward of Dunblane and Bridge of Allan, topping the poll.
Alastair Majury, is also a director of Majury Change Management Ltd is a highly experienced Senior Business Analyst / Data Scientist with a proven track record of success planning, developing, implementing and delivering migrations, organisational change, regulatory, legislative, and process improvements for global financial organisations, covering Retail Banking, Investment Banking, Wealth Management, and Life & Pensions.
For several years now, Alastair has worked extensively with a variety of financial institutions in order to offer the utmost comprehensive services. As a data scientist/business analyst, Alastair Majury is expected to find intuitive and sensible solutions to complex problems.
As a data scientist/business analyst, Alastair Majury has worked closely with several high-profile businesses, such as BNP Paribas, National Australia Bank, Standard Life and the Royal Bank of Scotland Group.A graduate of University of Glasgow, Alastair Majury earned his M.A. in Economics with Business Economics. Since then, Alastair has undergone several training sessions and earned multiple certifications for a variety of skills. More specifically, he has earned certifications in IAQ, risk management, resource management, and a bevy of other areas. Alastair Majury thoroughly enjoys his work.
What excites him most about being a data scientist/business analyst is that every problem has a variety of solutions. This allows for a great deal of creativity on his part. Providing ingenious solutions to his customers’ problems provides a great deal of satisfaction to Alastair Majury. Every single day can be a new and challenging problem.
Although he is a fierce and determined worker, Alastair also manages to find free time to embrace his hobbies and interests. Alastair is a major proponent of philanthropy and charitable endeavors. He constantly finds new and exciting ways to promote charities and philanthropic organizations in his community. He also tries to donate time and funds to said organizations whenever he can. Alastair Majury firmly believes that if we all work together towards a common goal, we can find peace.