While financial analysts feel at home with numbers, they also need to be adept at telling the stories behind their data. In the same way, a financial analyst cover letter should pick out the key points in their career to prove why they are the best person for the role.
The cover letter will still be packed with impressive financials, but it should also describe how you approach your analytical challenges. How do you collaborate with colleagues on projects? What software do you use most? What is your preference in terms of presenting data to the business? Most importantly, what impact has your work had on the bottom line?
These questions and many more could be covered in a financial analyst cover letter. The free-flowing nature of the writing offers a chance to venture beyond the factual resume. What do you want to say about yourself so that the “right” boss for you takes an interest? How you present yourself will play a part in making that perfect fit.
It is also important to consider the industry of the role in question. Tailor the cover letter to cover the nature of your financial analysis work. Pick out the experience from your resume that is perfectly suited to the role in question.
It may be worth looking at cover letter examples from other industries to gain inspiration. You need to be in tune with your future employer’s business, so read around before you hit that apply button. Writing a job-winning cover letter is more involved than you might think. In this blog we look at the following considerations:
While financial analysts will be bursting to share their financial success stories, a cover letter needs a little more than numbers and profit growth. It is a space to allow your personality to shine through – how you go about your job is as important as what you do. Frame these stories within a set structure to allow a hiring manager to engage with your story. The format of a financial analyst cover letter looks like this:
Lead with the content that is best suited for the role. Hiring managers want to read achievements that will translate to potential success in their specific area. Anything irrelevant will cast a shadow on the rest of the application. The choices that you make of which stories to include will then dictate the content of any future interview.
You might be surprised at the amount of choice when it comes to writing a cover letter. What font do you use? How big should it be? What about page margins, icons, and cover letter design? Our comprehensive cover letter guide offers some general advice about these issues and many more.
Here is a financial analyst letter sample to offer some inspiration:
Dear Mr. Harris,
No small retail chain can enter a period of growth without solid financial analysis. Retail space is expensive, so every part of your business needs to squeeze the maximum amount of net profit possible. Having worked in retail and having assisted two small businesses to grow by 750% and 950% respectively, I understand the economies of scale that can be achieved when you make solid financial decisions.
Since completing my master’s degree in data science, I have applied my deep knowledge to the complexity of retail operations. For the past ten years, I have consolidated ranges, taken deep dives into supplier relationships, and improved the efficiency of operations.
At Heimsdahl, we reduced the footprint of new stores by 25% but increased the net profit by 3.7 percentage points. The space efficiency improved due to my line-by-line analysis of sales alongside customer journey data. This success then led to a profit per square meter improvement of 13% across the entire store estate. Trial small and win big.
I understand that you do not currently have an analyst working within the business. I am proficient at working with commercial, operational, and financial teams – I try my best to find the numbers to influence their decisions. I particularly enjoy being involved in the new range discussions and annual supplier negotiations.
I am adept at communicating complex financial concepts in simple language and was a constant presence at monthly board meetings. I love being involved at the very center of a retail business and look forward to hearing about your growth plans during a potential interview.
Sincerely,
Trish Lowell
The financial analyst cover letter header should replicate the contact details from your resume. You never know when the hiring manager may want to invite you to an interview. Include your full name, email, and phone number. You may choose to include your LinkedIn profile as your potential boss will likely want to look you up on social media.
Additionally, it is not essential to include a postal address. Include your city and state – you aren’t sending the application by post, after all. Writing the inside address of the employer is for only the most formal of applications. This outdated convention is now just a waste of space.
The greeting of a financial analyst cover letter should follow the normal letter writing conventions. Start with a “Dear Mr./Mrs. Surname” and continue in a semi-formal style.
If you do not know to whom the letter should be addressed, avoid the cold “to whom it may concern” salutation. This sounds old-fashioned and hints at a generic letter that could have been sent to anyone. A warmer “Dear company team” works much better. Alternatively, maybe phone the company and ask for the name of the HR representative in charge of recruitment.
The introduction should be focused on the achievement in financial analysis that most fits with the demands of the role. Did you solve a problem that you may encounter with your new employer? Have you encountered the same obstacles that they have? Are you experienced in the same methodologies and processes?
The hiring manager will have a long list of tasks for the new financial analyst. Make sure that you dissect the job description carefully and lead with the task that your competitors are least likely to handle. Being strategic in outlining your value in this way at the start of the cover letter will ensure that the letter will be read until the end. Whatever you do, don’t begin with generic comments about how much you want to join the company or how good you are with numbers.
Dear Mr. Harris,
No small retail chain can enter a period of growth without solid financial analysis. Retail space is expensive, so every part of your business needs to squeeze the maximum amount of net profit possible. Having worked in retail and having assisted two small businesses to grow by 750% and 950% respectively, I understand the economies of scale that can be achieved when you make solid financial decisions.
The middle part of a financial analyst cover letter should contain a couple of high-profile projects to highlight their potential. Share the financial context behind your numbers – you should remember that you will likely be applying to an employer with a different financial setup.
A cover letter is an opportunity to share some of the more human aspects of your work. Think about the problems that may crop up in your future role and show that you have already solved them previously. Such a proactive approach will impress any hiring manager.
As financial analysts are facilitators, it is also important to share your broad commercial aptitude. How can you demonstrate that you understand the financial levers of your future employer? Prove to them that with you working for them, their financial data are in good hands.
The tone of the middle part of the letter should be confident and assured. Don’t make any rash promises or outlandish statements. You know your job and you are proficient at it. Nothing more, nothing less.
Your cover letter can help persuade the ATS software.
Some employers rely on Applicant Tracking Systems (ATS) software to make the initial selections, so it is always worth including the right amount of language from the job description. Generic cover letters that are not tailored to the role can sometimes get an applicant into trouble in this regard.
If you feel that your application has fallen into the ATS black hole, it may be worth reaching out to the hiring manager on socials. They can sometimes help to bypass the bureaucracy.
When you come to the end of your cover letter, pause, and take stock. How are your messages coming across? Ask a previous colleague to have a look at the job description and see if there is anything that you might be able to say differently.
Since completing my master’s degree in data science, I have applied my deep knowledge to the complexity of retail operations. For the past ten years, I have consolidated ranges, taken deep dives into supplier relationships, and improved the efficiency of operations.
At Heimsdahl, we reduced the footprint of new stores by 25% but increased the net profit by 3.7 percentage points. The space efficiency improved due to my line-by-line analysis of sales alongside customer journey data. This success then led to a profit per square meter improvement of 13% across the entire store estate. Trial small and win big.
I understand that you do not currently have an analyst working within the business. I am proficient at working with commercial, operational, and financial teams – I try my best to find the numbers to influence their decisions. I particularly enjoy being involved in the new range discussions and annual supplier negotiations.
The close of a financial analyst cover letter should read like a finely tuned P&L. It all makes sense, so it is time to move forward. Leave the hiring manager with one last example of your financial wizardry and let them know that there is much more to come during an interview.
Finish the cover letter with a call to action and say that you are keen to meet and find out more. Adopt a hopeful rather than presumptuous tone. Financial analysts are in high demand, so plant the thought in their minds that you may have a busy schedule of other interviews.
I am adept at communicating complex financial concepts in simple language and was a constant presence at monthly board meetings. I love being involved at the very center of a retail business and look forward to hearing about your growth plans during a potential interview.
Sincerely,
Trish Lowell
It is rare that a financial analyst has no finance experience whatsoever, but you may be moving into the function from a more commercial role. The key here is to focus on the nature of your financial experience to date and explain why the change of function is for you.
When you have little financial experience, focus on the following:
Transferable technical skills may help the transition into a financial analyst position, so share your track record of mastering technology. Most importantly, hint that you possess the required personality traits. Are you methodical, detail-oriented, and mathematically curious?
Financial analysts need to have an eye for spotting errors. The slightest mistake in a report can have wide-ranging consequences. Do not let any mistakes slip into your cover letter as they could color the opinion of the hiring manager. Avoid the following:
These different cover letter examples may offer a useful perspective: