According to the U.S. Bureau of Labor Statistics, treasury analyst employment is set to grow 12% faster than usual until 2024, putting graduated finance majors looking for an in-demand job in a sought-after position.
But naturally, the job isn’t for everyone say Alex Fopiano of Massachusetts. The treasury analyst role demands a lot from successful candidates- especially when involved with large holding companies — requiring expert cash flow management skills, clear communication techniques, and accurate risk assessment and forecasting abilities.
Currently, there are roughly 258,360 treasury analysts and similar financial professionals working across the United States of America to facilitate smooth cash flow. As per a statement published by the U.S. BLS, most work for private corporations, like holding firms, in numerous industries.
Put simply, where there is money, there is a treasury analyst says Alex Fopiano.
Alex Fopiano of Massachusetts on Treasury Analyst Duties
While the roles and responsibilities of a treasury analyst are broad, individuals interested in this area of employment need a minimum of an associate degree. Depending on their salary goals and promotion opportunities, they may require a master’s degree in business administration or finance to land higher-powered jobs says Alex Fopiano.
Due to the large-scale nature of holding companies managing handfuls of client accounts, treasury analysts in these firms hold great power. But, as the adage goes, with great power comes great responsibility says Alex Fopiano of Massachusetts.
While treasury analysts employed by a specific financial institution must log cash transactions, maintain records, and oversee transfers, those working in holding companies have much more on their plate. They must:
- make financial projections and cash flow improvement decisions.
- analyze current market conditions.
- provide ongoing support for those wishing to claim a long-term position in the market.
- evaluate investments, mergers, and other activities, ensuring they align with the ever-changing government and company policies and protocols.
- comprehend public filings, financial research, and economic publications.
- draft regular reports for distribution.
- maintain impeccable relationships with banking partners, clients, and company employees.
Educational Requirements Needed to Be a Successful Treasury Analyst
Since holding companies place many responsibilities on their treasury analysts, those looking to land the role need at least a bachelor’s degree in accounting, finance, or a different yet related field.
Alex Fopiano of Massachusetts says that some universities even provide corporate treasury management programs to help budding treasury analysts along the way. Career consultants urge those interested in this career path to fill their electives with subjects like quantitative reasoning, banking, financial analysis, corporate finance, auditing, supply chain, and risk management.
Following graduation, most large, affluent holding firms require their treasury analysts to have at least two years of finance experience. While there are plenty of routes, the most successful candidates start as credit analysts, tax associates, auditors, or bookkeeping clerks says Alex Fopiano
Individuals looking to quickly advance their careers could acquire certification from the AFP as a Certified Treasury Professional. Alternatively, they may decide to head back to school to complete a master’s degree to broaden their analyst horizons and increase their earning potential.
The Technical and Personal Skills Required for a Treasury Analyst Position
Although formal education is important, the expectations placed on treasury analysts require more than a few certificates explains Alex Fopiano.
The best people for the job boast excellent communication, time management, and organizational skills. The economic world is often fast paced, necessitating quick yet accurate interpretations to ensure clients’ accounts head in the preferred direction.
On top of that, treasury analysts must be well-versed in banking and e-commerce software alongside Microsoft Office and the firm’s customer relationship management systems.
Treasury Analyst: A Lucrative Career with Fantastic Progression
Treasury analysts enjoy earnings above the market average, as well as job security and all sorts of potential for growth within the field explains Alex Fopiano of Massachusetts.
Entry-level analysts should expect to earn between $45,000 and $50,000. But with more experience, further education, extra certifications, and working for a large holding firm, they can hit six figures, even though the average salary is from $58,000 to $68,000.
Generally speaking, treasury analysts with five to ten years of experience will bring in anywhere from $62,000 and $75,000, with the most senior professionals racking up over $100,000 per year.
Naturally, Alex Fopiano says that location plays a part in money-making potential. Boston, New York, San Francisco, and Los Angeles often deliver higher salaries to those in the financial sector. Although, they deal with a higher cost of living too.
The Bottom Line
Individuals interested in financial assessments, creating accurate reports, and helping clients make effective cash and investment decisions will go far in the treasury analyst position — and make a lot of money doing it!