If you have a bachelor's degree in a field such as accounting or finance, and are interested in financial analysis, you may consider a career as a revenue analyst. These professionals work within a company to help maximize its revenue and identify and monitor revenue control risk. Becoming a Certified Public Accountant is sometimes preferred or required, as is having working knowledge of a number of financial or statistical software programs.
Revenue analysts are accountants who analyze a company's finances to help with revenue management. They offer insight and suggest ways to improve revenue growth. Revenue analysts typically hold a bachelor's degree; some are Certified Public Accountants, too.
|Required Education||Bachelor's degree in accounting, finance or a related area|
|Certification||CPA credentials preferred by some employers|
|Projected Job Growth (2014-2024)||3% for budget analysts*|
|Median Annual Salary (2016)||$52,903**|
Source: *U.S. Bureau of Labor Statistics, **PayScale.com
Revenue analysts play an important role in a company's business growth by helping maximize revenue and bringing to attention any issues regarding accounting, business procedures or finances. These professionals serve as a point of contact within their company and relay information to other members of the revenue policy team, as well as staff members from other departments. They often train staff members in new revenue control policies and collaborate with other staff regarding revenue systems evaluations and improvements.
Revenue analysts regularly review a company's financial transactions, sales contracts and business practices. In addition to providing guidance for improvement, they identify revenue control risk and might develop and implement revenue control plans. They also monitor and evaluate the effectiveness of their revenue control plans.
Analysts in this field often prepare quarterly and yearly revenue reports, as well as documentations of financial arrangements. They sometimes work with members of the sales department and assist in customer negotiations to help the company achieve revenue objectives.
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Most employers require a bachelor's degree in accounting, finance or a related area, in addition to accounting, financial, analytic or auditing experience. Revenue analysts must be knowledgeable in areas such as accounting and finances, Software Revenue Recognition, business operations and computer software, including Microsoft Excel, Oracle Financials and data mining applications. Revenue analysts also might benefit from having strong analytic, communication, multi-tasking, presentation and team work skills.
Some employers also prefer or require that their revenue analysts be certified public accountants (CPAs). The American Institute of Certified Public Accountants (AICPA) offers a certification examination for prospective CPAs. Qualification for the certification varies by state, but usually includes earning a degree in accounting and obtaining professional work experience.
Salary Info and Job Outlook
According to PayScale.com, the majority of revenue analysts earned between $33,878 and $75,594 a year as of January 2016; these figures included salaries, bonuses and profit sharing. The U.S. Bureau of Labor Statistics (BLS) projected that the employment of budget analysts - a closely related occupation - will likely grow by 3% between 2014 and 2024, a rate slower than the average predicted for all occupations.
In summary, revenue analysts are typically professionals who hold bachelor's degrees in accounting or finance, and who have education or work experience in finance, business operations, and data analysis. They must be able to produce reports for companies detailing revenue control plans and policies, and do so by analyzing financial statements, contracts, and business practices.