How to Succeed in the Financial Reporting Analyst Career Path

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Financial Reporting Analyst Career Path
Financial Reporting Analyst Career Path

If you love dealing with numbers, then make a beeline for the financial reporting analyst career path. Careers in accounting and finance are competitive, but have consistently proven to be well-paid. All those years in accounting school will be well worth it once you’re able to call yourself an accountant or financial analyst.

The financial services industry is broad, and there are plenty of analyst positions to choose from: research analyst, data analyst, credit risk analyst, and many more. However, a financial reporting analyst position differs in that it focuses on the big picture of the financial health of a company. A financial reporting analyst may be in-house, meaning they report solely on the financial standing of one company, or the analyst can be from a third-party financial services company, where they report on various clients.

A financial reporting analyst is a crucial part of any business’ finance team as the analyst’s research and data gathering will help determine business decisions. Here’s a quick summary of what a financial reporting analyst does:

  • Gather data and create detailed reports on the financial standing of a company

  • Analyse the data and make forecasts and recommendations to stakeholders concerned

  • Create regular market research reports

  • Maintain a strong relationship with bank representatives

  • Communicate with clients and stay up-to-date on investment-related activities

Salary Range

According to the Singapore government’s MySkillsFuture portal, the gross monthly salary range of a financial reporting analyst in Singapore is between S$4,292 to S$7,208. However, you can’t always become a financial reporting analyst straight out of the gate. We’ve gathered a broad outlook of salary averages in the accounting and financial services industry to provide some perspective as you work your way up.

Based on JobStreet’s Salary Report 2020, the average monthly salary of an entry-level professional in the accounting and financial services industry is between S$3,213 and S$3,553. This is the average of salaries across four broad specialisations: banking and financial services, audit and taxation, corporate finance and investment/merchant banking, and general/cost accounting.

At the junior executive level, the average monthly salary grows between S$3,376 and S$3,450. Meanwhile, a senior executive will have an average salary of S$4,376 or S$4,613.

The highest-level positions in the managerial level will earn an average salary of S$6,362 per month or S$72,344 per year. And at the top level of this industry, the senior manager level positions earn an average of S$9,781 per month or S$117,366 per year.

What is the career path of a financial reporting analyst?

There are many career pathways in the accounting and finance industry, but the path below is specific to the financial reporting analyst career path. Here’s how you can move from accountant to chief financial officer:

Junior Level (1-3 years of experience)

Mid Level (4-8 years of experience)

Senior Level (8 years of experience or more)

What requirements do you need to become a financial reporting analyst?

Most careers in the accounting and financial services industry will require certification in accounting. While this might not be required depending on the company you’re applying to, certification in accounting will double your chances of landing a good job at a reputable company.

In Singapore, three types of accounting certifications are generally accepted: Certified Public Accountant (CPA), Association of Chartered Certified Accountants (ACCA), and Chartered Accountant (CA) Singapore. Any will suffice for your career path as a financial reporting analyst in Singapore.

Technical skills

According to the RIASEC career compatibility test, a career as a financial reporting analyst will appeal to those whose interests lean on: investigative, meaning you enjoy watching, learning and solving problems; enterprising, meaning you enjoy persuading, performing, and working with others; and conventional, meaning you are detail-oriented, organised, and enjoy working with data.

If you possess these traits, you will likely enjoy your work as a financial reporting analyst as these are the technical skills required:

  • Can audit, budget, and create financial statements, shareholder reports, and balance sheets

  • Can analyse income and expenses

  • Can spot disprecancies and variances in financial statements

  • Can review and check statements for accuracy

  • Can file regulatory reports

  • Strong knowledge of risk and compliance policies

  • Strong analytical data mindset

  • Expert at Microsoft Excel

Other skills

A financial reporting analyst role can be a consulting position, so there will be plenty of non-technical skills required to succeed at this post. Here are some of the soft skills a financial reporting analyst might need.


Companies often hire financial reporting analysts from outside of their companies so they can provide an objective analysis of a company’s financial situation. Analysts are tasked to provide predictions of profit margins and the like, so a third-party perspective that is unbiased is highly valued.

Strong communication skills

A financial reporting analyst is often under broad direction, meaning that they do not typically have only one boss. As such, it will be the responsibility of the analyst to reconcile and communicate the directions of other higher-ranking colleagues to lessen any miscommunication.


Because an analyst can have multiple people to report to, the analyst will have to be able to function independently and exercise firm judgement on his or her reporting. This will also contribute to his or her ability to provide objective financial reports.

Big picture perspective

This is not necessarily a skill but a point of view a financial reporting analyst must have. An analyst must be able to zoom out and see the company’s financial standing as a whole. Often, a corporate employee will only be concerned with his or her department, but a financial analyst must have an executive-level mindset and see the company as one entity.

Educational background

Aside from accountant certification, a bachelor’s degree in any business, finance, financial management, accounting, or financial services course is required to become a financial reporting analyst.

This degree is also a prerequisite for accounting certification, which is not always required for a financial reporting position. As such, having a bachelor’s degree, or even a master’s degree in any course related to financial services is a good backup for this career path.

Opportunities for continuous education

If you need to brush up your knowledge on financial reporting, Singapore’s MySkillsFuture framework offers plenty of courses on the subject, from Advanced Financial Reporting from Singapore University of Social Sciences to Basic Business Valuation from Ngee Ann Polytechnic.

JobStreet has also partnered with FutureLearn to provide jobseekers with free courses to improve their career advancement. Aspiring financial reporting analysts might want to check out FutureLearn’s Big Data/Analytics course or even its Career Development and Advancement course.

How to write a financial reporting analyst resume?

Make sure to grab HR’s attention with the first three sentences of your resume. Be concise, engaging, and enthusiastic.

Download this Financial Reporting Analyst resume HERE.

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