Financial Analyst vs Economist: Which One is Better?

Economics and finance are two different disciplines that are overlapped. Economics looks at the behavior of people which is what they buy, why they buy, and where they get them from. Finance, on the other hand, looks at the banking institutions and their policies, savings, investments, and the management of money

Who is an Economist?

An economist is an expert who analyses the relationship between a consumer and the goods or services they demand or we can say they study the relationship between a society’s resource and its production.

As an Economist, you can work in government institutions, banks, and audit firms.

The duties of an economist vary from researching economic issues, taking surveys, analyzing data, presenting data in graphs and tables, as well as forecasting market trends among other things

Who Is A Financial Analyst?

A Financial Analyst is a professional who guides an individual or an organization on how they can disburse their money to make a profit. They evaluate the performance of stocks, bonds, and other types of investments. The financial analyst assesses where your money can make a great profit.

Groups of Financial Analyst

1 . Firstly, Buy-side Analysts

Create investment plans for institutions that have a lot of money to invest. Institutions such as hedge funds, insurance companies, independent money managers, nonprofit organizations with large endowments, private equity firms, and pension funds.

2 . Then, Sell-side analysts

Work with financial institutions on the type of investment options they can make available to the public.

Career opportunities for Economist

• Market research  analysts: it requires you to use your knowledge of industry trends to assess how consumers will respond to certain products or services during different economic situations
• Economic consultant: it requires you to conduct surveys for institutions using your theoretical knowledge,  analytical and research skills
• Compensation and Benefits Manager: help determine how much workers are supposed to be paid. Also, restructure the organization’s pay so they compete with other organizations in the same industry
• Policy analyst: you will have to analyze issues faced by the public and come up with policies For the government to implement.

Career Opportunities for Financial Analysts

• Investment Banker:  expected to diversify the various assets of individuals and corporate organizations.  Also, you can be responsible for merger and acquisition deals that occur in businesses.
• Fund manager:  will work with companies that have hedge and mutual funds. You are to manage the funds by making buying or selling decisions in reaction to  the changing market conditions
• Tax accountant: ensure that individuals and organizations comply with the payments of taxes according to the laws of the state

In Conclusion

It cannot be declared that an Economist is better than a financial Analyst or vice versa. This is because both contribute to the growth of the financial sector of any economy.

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