Promotion from Analyst to Senior Analyst

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Get Promoted from Analyst to Senior Analyst

 

When you start your career in private industry one of the area’s you want to focus on is that first promotion.  How do you get promoted from Analyst to Senior Analyst?  Some of you might think it takes time to move from one level to the next and it does, but for some it will be eight months and other’s two years. 

One of the reasons’ you want to focus on the first promotion is due to the fact, this is how you make more money within industry.  If you are waiting for the yearly 3% raise from your company then you will never make a great income.  If you truly want to increase your earnings, then you must work for promotions not increases.

As an approximate overview below are the differences between the roles and you can focus on what you need to do to move up a level.

Analyst

·         Generate reporting either weekly or monthly for the business to use.  You will need to ensure the reports are accurate and complete. 

·         Produce month end journal entries and be able to explain your journal entry purpose.

·         Managing expectations of your Supervisor and customers to ensure they are aware the timeliness they will receive their reports and any ad hoc work.

·         Communications skills – be able to provide clear business communications

·         Ability to build relationships among the other business areas

Senior Analyst

·         Generate reports along with commentary about variances within the reports and key drivers

·         Produce journal entries with the ability to understand how your entries will impact the balance sheet or P&L statement

·         Budgeting – work with your business partners to build budgets and understand budget key drivers

·         Continuing to build strong relationships with your business partners, working towards becoming a key contributor to decision making

·         Manage expectations with Senior Management and communicate complex financial concepts clearly with senior leadership

This list is not 100% comprehensive but if you can complete most of the items on this list you will fast track your way to that first promotion and more money.