Yes, being a financial analyst is a hard job. Most financial analysts report high-stress levels and heavy workloads. The work itself is complex and requires a lot of knowledge and continuous study. While financial analysts are usually paid well, it comes at the cost of a healthy work-life balance in many cases.
While there are many different types of financial analysts, most usually involve standing knee-deep in a pile of data while combing through it, looking for nuggets of opportunities. Thus, working as a financial analyst is not for everyone - especially those who are not keen on spending long hours with complex datasets running statistical analyses.
A major challenge in being a financial analyst stems from being good at analyzing and interpreting financial statements, market trends, and microeconomic conditions.
In order to achieve this, most financial analysts have academic backgrounds in business, financial, or accounting, as well as additional certifications (e.g., MBA, CPA, CFA). Consistent with this, a financial analyst should have a fundamental understanding of theory in order to really understand financial modeling.
One out of three financial analysts works 50-to-70 hours a week. Competition for these jobs is fierce, and, as a result, many financial analysts feel pressure to put in long hours and to over-perform at work. The work-life of a financial analyst, however, can vary greatly depending on the company and industry.
Working at a large firm like Goldman Sachs, for instance, usually means working long hours, dealing with a lot of stress, and having a regular performance analysis (aka: show me the money). However, those who work at smaller companies report feeling less on-the-job stress and feeling greater satisfaction in their work-life balance.
At the end of the day, a financial analyst is just there to provide data-driven recommendations. It's someone else who decides whether to pursue the recommendation. This takes some of the pressure off in being responsible for business outcomes. In fact, many financial analysts report this aspect of the job as being less stressful compared to those in leadership roles.
