Today, I will teach you how to become a financial journalist. I’ll also provide examples and templates, so you can start right away. Stick around, okay?
You know that securities professionals’ sole responsibility is managing money, investments, and other financial jobs. However, there are groups of writers and reporters who create content that provides information and analyzes financial markets and all things money-related on the publishing side.
A financial writer is a writer whose specialty is creating reference materials about finance topics. Being a financial writer can be challenging and a good career path for any independent worker.
After graduating with a degree in finance, my first job as a financial analyst was with “Garden Heritage.”. I love the analytical part of the job, but how I explain financial concepts amazes my colleagues and clients. It was during this period that I discovered my passion for financial journalism.
I have been writing about stocks and financial markets for 3 years. After all these years, financial journalism has been less important than it is right now. In this article, I will share some great things about this profession, including their duties and salary, and explore the steps on how to become a financial writer.
Key Takeaways
- There is no specific path to follow to become a financial writer.
- Every good financial writer must always pay attention to the details.
- Financial writing needs many citations because of its derivative nature.
- Being an experienced writer is a very good way to start.
- A financial journalist is a journalist who writes informative content on financial subjects.
Who Is a Financial Journalist?
A financial journalist is a journalist who writes informative content on financial subjects. This includes educational articles about finance concepts, financial products, and software manuals. Some financial journalists offer services freelance, while others might work for a financial organization that produces educational content.
They are employed in print, television, and online media, among others. It can concentrate on genres like investigative and opinion pieces.
What Do Financial Journalists Do?
From my experience, financial journalists do a lot of things depending on what they cover and their place of work. A financial journalist’s major duty is to have the ability to convert facts about business, and economics into accurate, concise information for their audience. Often, when you think about this, it revolves around money-related reports.
Financial journalists carry out the following tasks:
- Researching financial development
- Working on finance textbooks for colleges
- Writing finance courses: a learning guide
- Creating financial articles for websites and journals
- Educating the public on financial matters
- Regular setting and meeting of deadline
- Evaluating their work for grammar, and factual accuracy
- Being up-to-date with the financial world
- Conducting interviews with necessary parties
- Building and maintaining contacts in the financial industry.
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Types of Finance Journalists
Just as other writing jobs have different niches for their jobs, so does financial writing. I will explore different types of financial writers below.
#1. Personal Finance Freelance Journalist
During the pandemic, I became a personal finance writer and it was a lucrative job then. Individuals were looking for ways to save more money and make more money and I was there to help.
To be a personal finance writer, you do not need a professional degree. As a personal finance freelance writer, you can gain a lot of audience members by sharing your personal experience.
Amarachi from Kobo makes over 7 figures per month from her blog while telling people how to make more money, save money, and make more money with the kobo they have. She does not have any professional background in finance. However, she is one of the top personal finance bloggers because of her easy-to-read articles.
#2. Investment Journalist
These writers are vital assets in the financial industry because they bridge the gap between the public and financial information. An Investment writer educates people on how they can take their money and make it work for them by investing it.
As an investment writer, you play a vital role in the success of the financial community. To be a proficient investment writer, you need to know:
- Assets and liabilities
- Credit
- Trusts and Probate
- Equity
As an investment writer, you can contribute immensely to bridging the gap between the public and financial information. A memorable event of mine was when I wrote an article on “investing wisely,” which sparked up a lot of discussion between people in my community.
#3. Stock Market Journalist
Stock is the only difference between a stock market writer and an investment writer. They talk more about investing in stocks. As a stock writer, you should always be knowledgeable about looking at the political side of the stock market. People are expecting you to tell them the next big stock they should invest in, recommend hot stocks, and advise them accordingly.
Moreover, as a stock market writer, you need to be swift in writing as topics change quickly.
I had an encounter with Aggrey Tays and she told me that the most tedious challenge she has in her work as a stock market writer is trying to recommend stocks to people and being updated with the stock market.
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#4. Financial Report Journalist
Financial report writers help organizations gather and organize financial data. It is fully based on the dissemination and analysis of the company’s reports and budgets.
#5. Crypto Journalist
Crypto is a hot topic and a very popular one. Some of the writers who contributed to this post are crypto writers. Most of your writing is educational and informative because this is a new financial sector.
Since you are teaching your readers about cryptocurrency, you need to write about ways to use Bitcoin safely and crypto schemes.
Skills a Financial Journalist Must Possess
What I have learned in the decade of being a financial writer is that you don’t necessarily need a formal education to be a financial writer, have the knowledge to read and understand financial filings, become a jargon guru, and also learn the basics of accounting.
There are skills every financial writer is expected to have. They include:
- Knowledge of finance
- Discipline
- Good communication skills
- Good research skills
- Good organizational skills
- Able to adapt
- Understanding numbers and the relationship between them.
4 Important Tools Every Financial Journalist Needs
In the finance industry, getting the story is the key. However, your ability to decode and dig up important documents and data is as necessary as relying on sources.
In this section, I will go through the 4 data discovery tools that can help your career as a financial journalist. They include
#1. Edgar
This database for the Securities and Exchange Commission compiles and stores thousands of publicly required filings. Earnings reports and other material disclosures are covered by the 8-k. The annual report is 10-K, while the quarterly report is 10-Q.
For instance, using the Edgar database will help you uncover many critical financial problems for your articles.
#2. Yahoo Finance
Navigate to Key Statistics to find everything from market cap to the outstanding number of shares sold short by investors whenever you are covering an earnings report or news item that requires quick context financially.”
#3. Morningstar
This best-known tracking mutual funds firm has 10 years of financial data for thousands of public companies. Navigate to the financials tab by entering the ticker you are tracking.
#4. Conference Call Transcripts:
This tool offers free access to transcripts with just a click. It also reveals how managers handle questions from analysts.
Ways of Becoming a Financial Journalist
Becoming a financial writer is not so clear and easy. There are a lot of things involved that you might not learn in school.
Here are some steps you can follow to become a financial writer:
#1. Have a Bachelor’s Degree
In the pursuit of becoming a financial writer, you need to earn a bachelor’s degree. Having a bachelor’s degree is a prerequisite in the journey of becoming a good financial writer because many employers love candidates who have basic knowledge of finance.
Additionally, Finance and journalism are two majors that will give you a thorough education about topics and develop your writing skills. You can also choose related subjects, as long as you have a passion for writing.
#2. Have a Master’s Degree
Having a master’s degree adds to your knowledge and is an added advantage as a financial writer, even though most financial writers start careers with only a bachelor’s degree. Having a master’s degree increases your chances of getting higher positions with competitive salaries.
Finance, journalism, and management are courses that allow candidates to practice their writing skills in advanced settings and can also offer in-depth education on financial topics.
#3. Be Experienced in Journalism or Finance
Building experience in both finance and journalism prepares you for a financial job. You can gain experience by working for financial companies because you will learn key processes that will help you in the future.
I worked for a financial office in 2011, where I learned a lot of technical writing and methods for writing that prepared me for higher jobs. How I write and decipher financial details is because of the early stage of my career.
Moreover, journalism jobs can teach you about technical writing and methods for writing about factual information.
#4. Determine Your Mode of Working
After I got my bachelor’s degree in journalism, I got so many offers from financial companies and companies that produce educational materials or finance-related articles. I was so confused about which offer to accept but I met with Owens Troy, and he advised me that it is expedient that I determine the mode at which I will work as a financial writer. Choose whether you want to be a freelance writer or have an internal job.
Always make sure that your job aligns with your career goals and working style.
#5. Seek for Financial Jobs
Start applying for jobs as a financial writer after you decide on the mode of work you want to do. You can look for financial job openings online using the search engine and job search websites. Also, you can reach out to your previous place of work if you have experience in the finance industry.
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#6. Move Up the Ladder
You will take on greater responsibilities and can move into new roles as you advance through different journalism jobs. You can also expand to larger outlets if you start in a small outlet. The skills you gained in your entry-level and mid-level positions will set you up for success in managerial roles.
Top Finance Journalist of Today
If you run a financial organization, you need a solid finance press list to always cover your story. Having the right journalist can help you reach a large audience. However, finding reliable financial journalists can be very confusing and stressful, especially when you do not know where to look.
Here are some of the top finance journalists:
#1. Stephanie Flanders
Stephanie Flanders is a popular finance journalist in the UK. She is the senior executive editor at Bloomberg and head of Bloomberg Economics.
In 2008, she replaced Evan Davis as BBC Economics. She held the position until 2013. She has worked with the London Business School and the New York Times. Also, she is an advisor and speechwriter to the US Treasury Secretary.
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#2. Paul Krugman:
Paul Krugman is a financial journalist and analyst. Krugman has the reach. He has over 5.3 million X followers and readers who are always ready to hear from him.
He is a recipient of the Nobel Memorial Prize in Economics Sciences for his contributions to New Economic Geography and New Trade Theory.
#3. Rebecca Jarvis:
Jarvis is a financial journalist who studied law and economics and worked in financial services before she started a successful career in journalism. She currently serves as ABC News’ Chief Business Economics and Technology Correspondent and has been a part of other top channels like CBS News and CNBC.
Furthermore, she is the managing editor, creator, and host of Real Biz with Rebecca Jarvis. She could help you get published on ABC News.
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#4. Gretchen Morgenson:
Morgenson is one of the most popular finance journalists, In 2002, She won the Pulitzer Prize for Beat Reporting. The Nation called her “The most important financial journalist of her generation” for her contribution to the field. She started her career with The New York Times before going over to The Wall Street Journal in 2017.
In addition, she contributes to many online publications. She can help you get featured on popular sites like Forbes and Vogue.
Bottom Line
It is necessary to gain experience in writing before pursuing a career as a full-time financial writer. Getting started in a company that will prune your writing skills and also improve your knowledge about finance.
Frequently Asked Questions
Can You Practice Journalism Without a Degree?
It is possible to practice journalism without a degree, even though most journalists have at least a bachelor’s degree. Through volunteering or online courses, you can build reporting skills.
What is the Average Salary of Financial Journalists?
In Nigeria, a financial journalist can make between NGN 80,345 and NGN 450,000.
Who Writes Financial Statements?
Financial statements are prepared by directors, while the audit committee oversees the integrity of any financial information.
Who Confirms Financial Reports?
The auditor confirms that the financial statements are free from any misstatement. They also make sure that the report is presented according to the relevant accounting standards.
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