In finance, security experts have the duty to manage investments, money, and other monetary instruments. However, on the publishing side, there is a team of reporters and writers who are tasked with making content that offers details about and analyzes the economy, financial market, and all other money-related things.
Over the years, most readers have posted the simple query, “how can one become a freelance financial writer?” This ultimate guide answers this question by providing detailed information on how to become a finance writer.
What is the role of a financial writer?
Before we dive into the essential skill set and educational qualifications, it is crucial to describe exactly what a finance freelance writer does. As the name suggests, a personal finance writer creates market commentary and informational content for online and print publications.
Social media posts, blog posts, and commentary pieces, often let the writer give their personal view about the current corporate governance issues or business news, such as trends in executive compensation and earnings releases. Educational content includes articles on different financial themes and comprehensive learning guides.
Many financial publishers may hire writers such as works who work on-site; nevertheless, the finance will work in a freelance capacity and submit their work online. Unlike some other tasks on Wall Street (and throughout the US), it is not essentially a clock-punching 9-5 position. It is not rare for freelancers to toil at their computers all over the night or on weekends, as needed.
How to become a financial writer
Here are some of the qualifications for becoming a freelance finance writer.
Experience
If you look at the different profiles of writers on the internet, you will realize that some writers have had past experience in the securities field. More specifically, they might have previously written in some capacity as an either institutional or retail stockbroker, portfolio manager, or an analyst.
This might include experience in both the sell-side and the buy-side of investing. Other writers might have also previously worked for popular financial media corporations in the past, either as editors, producers, reporters, or junior writers.
Why is this kind of background such common? It is simple. Persons with this kind of experience are most likely to have sources and contacts within the securities industry (which aids them in coming up with article ideas) since these persons are better in interpreting financial news than those without experience in finance.
To be specific, a person with no experience in journalism or securities industry can still become a freelance finance writer. Nevertheless, getting employed, creating content, and developing a loyal following is typically difficult for those without this type of experience.
Generally, financial writers can create pieces quicker (and more efficiently) when they can draw from education and personal experience). A personal finance writer without these skills will have to do wide research and, in some instances, interviews with people in the industry, to generate the content of the same quality.
Education
Unlike several other occupations in finance, there are no set of laws concerning education. Publications vary according to their preferences. Nevertheless, it seems that several financial writers have acquired a 4-year university degree and have either majored in digital media, journalism, or business-related discipline.
Most writers have also taken the course- whether through an online training instructor, traditional school- or attending conferences/seminars to assist them in developing their writing capacities further.
In most instances, a master’s degree is not necessary to become a financial writer. Nevertheless, earning a master’s degree in finance, journalism, economics, or management can aid in setting a person apart, letting them negotiate for higher salaries at some of the high-profile publications.
What are the skills needed to become a financial writer?
A financial writer should be able to produce coherent, clear copy and ask probing queries much similar to an inspective journalist. The post also demands an individual who can ensure that intricate financial terminology and transactions are easy to understand for an amateur.
There are some other features that every fruitful financial writer must-have. For instance, financial writers should be able to dissect the latest news stories for motivation for a publication topic or have the capacity to generate a timely commentary piece in just a few hours or minutes from a newscast release.
It also demands a creative individual. The person must be able to generate content that is both interesting to the audience and created in a way that improves its findability in social channels and search.
Lastly, the financial writer should be able to tailor their writing style so that it is reliable with the medium in which they function. In other words, the financial writer should be able to implement the writing style toward social, print, or web as needed.
Notably, the print publications usually want information that includes wide quotations from sources and can be over one thousand words, while website content is typically in the range of two hundred to two thousand words and generally contain a more conversational writing style. Social information can be even shorter and might show a greater emphasis on supplementary visual media production.
Identifying an occupational path
Preferably, the earlier you make a choice to become a personal finance writer, the better. As earlier mentioned, it is significantly wise to take programs or major in journalism or business during college.
Additionally, a person coming out of school must be able to work in a great capability within the finance industry. This hands-on expertise will assist potential financial writers in understanding and interpreting financial news later in their occupations.
Alternatively, a student fresh from college can work to secure a post at the content or financial news publisher where their “beat” entails covering cryptocurrency or equity markets. This post would be helpful since it would help the person perfect their skills, and enhance their knowledge of capital markets and securities industry.
Regardless of the first job one chooses immediately after coming out of school, it is vital to gain experience writing formal search reports or market commentary before pursuing an occupation as a full-time personal finance writer.
Getting a company that will assist you in honing your writing skills and improving your knowledge of capital markets and securities industry is a great starting point.