What does an entry-level financial analyst do?
Of course, this will vary from organization to organization, but in your first job in this position, you will probably do things like gather data and maintain spreadsheets.
This will be a stepping stone to positions where you will work more closely with investors and make predictions that will help them better manage their money.
One of your first steps to breaking into this competitive field is writing a great cover letter, and in this article, we’ll help you do that.
Important points for writing your cover letter for an entry-level financial analyst job
A cover letter as part of a job application serves a few purposes.
It is a polite way to introduce yourself, it shows that you can follow basic business convention and it gives you the opportunity to highlight your best features and qualifications.
While you should always strive to position yourself as the most appealing candidate for a job, this becomes even more important when you are in a competitive field like finance.
Therefore, you should think about your accomplishments that would put you in the best possible light that you want to bring to the reader’s attention in this letter.
Since this is an entry-level position, consider how experience you have in other fields could be transferable, or make a point to highlight any experience that you do have, such as an internship.
Education is also generally important in this field, so you should make a point of mentioning your degree plus any related certifications you may have.
You may also want to review some cover letter do’s and don’ts.
How to start your cover letter for an entry-level financial analyst position
Your cover letter should have your address at the top. Letterhead looks particularly professional.
Below that, you should have an address block for the company, including the name of the person you are writing to if you know it, and the date.
You should try to address the person you are writing to by name. For example, “Dear Mr. Marston” would be an appropriate greeting for this type of letter.
However, if you do not know the person’s name, language such as “Dear Hiring Manager,” “To Whom it May Concern” or “Dear Sir or Madam” is appropriate.
Writing your introduction for a cover letter for an entry-level financial analyst position
Your introduction should say what job you are applying for and where you saw or heard about the position.
If someone that is known to the company suggested that you apply, you should mention their name here.
You can also express your enthusiasm here by saying something such as “I am excited about the opportunity to work for your company.”
You may also want to briefly state why you are well-suited for this position, but you will really elaborate on this in the paragraphs that follow.
Keeping paragraphs short instead of trying to cram a lot of information into each one makes your letter easier to read quickly.
Writing the body of your cover letter for an entry-level financial analyst position
This is the part of the letter where you will give the most important information, including your education and any relevant experience.
Remember that the person will also have your resume, so you do not have to include everything here.
You only need to put the most important information, ideally making your application stand out from the others.
If there is anything in your resume that needs to be explained, such as a big job gap or many short-term positions, this is also a good place to explain it.
For example, you may have worked several short-term contracts because you had family responsibilities in between those, but without this explanation, it could look like you were job-hopping every few months.
Keep your paragraphs just three or four sentences long.
One to two paragraphs is an ideal length for this part of your letter, but you can go longer if you really need to include more information as long as you keep the paragraphs short and your letter does not exceed one page.
Seeking an entry-level job is similar to seeking a job when you have no experience, so reviewing documents that might also be similar, such as a cover letter for a bank job with no experience, might be helpful.
Writing the closing of your cover letter for an entry-level financial analyst position
In your closing paragraph, you need to ask for an interview and thank the reader for their time. There are several different ways to sign off.
Just make sure that you use something professional, such as “Best,” “Best wishes” or “Sincerely.” You can also use “many thanks” as a sign-off phrase.
Example 1 of a cover letter for an entry-level financial analyst position
I am applying for the entry-level position of financial analyst as advertised on your company website. Having reviewed your mission statement and learned more about your company, I am excited about the way that my own values and background are consistent with your company’s needs and aims.
I have a bachelor’s degree in finance from Westlake University, and I am currently working toward my chartered global management accountant certification. In the summers after my sophomore and junior years of college, I interned at Big Shot Finances, where I was responsible for maintaining databases and budget spreadsheets as well as conducting market research. I am also a member of the American Finance Organization.
I am hard-working and detail-oriented, and I thrive in a fast-paced, competitive environment. I think my skills will be an excellent match with your company.
I look forward to discussing the position further with you in an interview. Thank you for your time, and please contact me at your earliest convenience.
Example 2 of a cover letter for an entry-level financial analyst position
My mentor, Alice Dawes, suggested that I apply for the position of financial analyst that is available with your organization. I have worked with Ms. Dawes for two years on developing my leadership abilities, and she and I both feel that my skills and interests are an excellent match for your company’s needs.
I just graduated from the University of Georgia with a master’s degree in finance, and in addition to my coursework in financial modeling and data analysis, I helped a local food bank revamp its fundraising program and increase donations by 40%. I have strong data mining skills, and I am proficient in the use of a number of different tools, including Access, Power Point and Excel. I enjoying working with both numbers and people, and I am an excellent communicator.
I believe I would be an asset to your company, and I would love the opportunity to discuss this with you further. Please contact me by phone or email so that we can arrange and interview.
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