What Does a FactSet Consultant Do?

FactSet is a financial data and software company that provides financial information and analytics to investment professionals. They offer a wide range of products and services, including market data, analytics, and portfolio management tools.

A FactSet consultant is responsible for helping clients understand and use FactSet’s products and services. This includes providing technical support, training, and consulting services. Consultants must have a strong understanding of the financial markets and be able to explain complex concepts in a clear and concise manner. They must also be able to develop and maintain relationships with clients and provide them with the best possible solutions.

FactSet Consultant Job Duties

A FactSet Consultant typically has a wide range of responsibilities, which can include:

• Provide technical and functional support to clients on the FactSet platform
• Develop custom solutions for clients using FactSet’s suite of products, including data analysis, report generation, and portfolio analytics
• Assist in the implementation of new projects, ensuring that all requirements are met and deadlines are achieved
• Troubleshoot client issues related to the FactSet platform, providing timely resolution and follow-up
• Train users on the use of the FactSet platform, as well as other applications used by the organization
• Monitor system performance and provide recommendations for improvement
• Create and maintain documentation related to the FactSet platform, including user guides, training materials, and process flows
• Work with internal teams to ensure that customer requests are addressed in a timely manner
• Participate in product development initiatives, providing feedback and suggestions for enhancements
• Collaborate with external vendors to ensure successful integration of third-party systems
• Stay up-to-date on industry trends and best practices, attending conferences and seminars as needed
• Provide ongoing support to existing customers, responding to inquiries and resolving any issues quickly and efficiently

FactSet Consultant Salary

The salary for a Consultant at FactSet is determined by a variety of factors, including the applicant’s experience, qualifications, and the current market rate for the position. Additionally, the company may consider the applicant’s location, the cost of living in that area, and the availability of similar positions in the same industry. The company may also take into account the applicant’s ability to contribute to the company’s success, as well as any special skills or knowledge the applicant may possess.

• Median Annual Salary: $119,418 ($57.41/hour)
• Top 10% Annual Salary: $152,250 ($73.2/hour)

FactSet Consultant Job Requirements

To be hired as a Consultant at FactSet, applicants must have a Bachelor’s degree in a related field such as Business, Economics, or Finance. Additionally, applicants should have at least two years of experience in a related field, such as financial analysis, financial consulting, or financial services. Knowledge of financial markets and products is also preferred.

Applicants should also have strong communication and problem-solving skills, as well as the ability to work independently and as part of a team. Additionally, applicants should have a strong understanding of financial software and systems, as well as the ability to quickly learn new software and systems. Finally, applicants should have a valid driver’s license and be willing to travel as needed.

FactSet Consultant Skills

FactSet Consultant employees need the following skills in order to be successful:

Presentation Skills: Presentation skills are the ability to communicate information in a clear and concise manner. This is an important skill for a consultant, as you may be asked to present information to clients or colleagues. Presentation skills can include the ability to speak in front of a group, as well as the ability to write and design presentations.

Sales and Marketing Experience: Sales and marketing experience can help you develop skills in marketing and selling financial products. You can use this experience to help clients understand the benefits of the financial products you’re recommending. You can also use sales and marketing experience to help clients understand the value of the information you’re providing.

Business Analysis: Business analysis is the ability to assess a company’s current business model and make recommendations for improvement. This is an important skill for consultants, as they often work with companies to help them improve their business practices. For example, a company may hire a consultant to help them streamline their operations, reduce costs and increase revenue.

Analytical Thinking: Analytical thinking is the ability to solve problems and make decisions based on the information you have. As a consultant, you may be asked to provide recommendations for a client’s business strategy or a solution to a problem they’re facing. Having strong analytical thinking skills can help you make the best decision for the client.

Research Skills: Research skills are the ability to find and interpret data. This is an important skill for a consultant because it’s their job to find the most relevant information for their clients. For example, when a client requests information about a specific industry, a consultant should be able to find and interpret data about that industry.

FactSet Consultant Work Environment

FactSet consultants typically work in an office environment, although some travel may be required. They typically work 40 hours per week, although overtime may be necessary to meet deadlines. The job can be stressful, as consultants must be able to quickly and accurately analyze large amounts of data and make decisions based on their findings. They must also be able to communicate their findings to clients in a clear and concise manner. FactSet consultants must also be able to work independently and as part of a team. They must be able to work with a variety of people, from clients to colleagues, and be able to handle multiple tasks at once.

FactSet Consultant Trends

Here are three trends influencing how FactSet Consultant employees work.

Artificial Intelligence Consultants

Artificial Intelligence (AI) is becoming increasingly important in the financial services industry, and FactSet Consultants are no exception. AI consultants help organizations leverage data to make better decisions and improve their operations. They use machine learning algorithms to analyze large datasets and identify patterns that can be used to inform decision-making.

FactSet Consultants must understand how to apply AI technologies to solve business problems. They need to have a deep understanding of the technology and its potential applications, as well as an ability to communicate complex concepts to stakeholders. As AI continues to evolve, it’s essential for FactSet Consultants to stay up-to-date on the latest trends and best practices.

Digital Transformation

Digital transformation is a key trend in the financial services industry, and FactSet consultants are at the forefront of this shift. As more companies move to digital solutions for their data management needs, FactSet consultants must be able to understand how these technologies can help them better serve their clients.

FactSet consultants need to stay up-to-date on the latest trends in digital transformation, such as cloud computing, artificial intelligence, machine learning, blockchain, and big data analytics. They also need to have an understanding of how these technologies can be used to improve customer experience, increase efficiency, reduce costs, and create new revenue streams. By staying ahead of the curve, FactSet consultants will be well-positioned to provide valuable insights and advice to their clients.

Blockchain Consultants

Blockchain technology is quickly becoming a major trend in the financial services industry. As such, FactSet Consultants are now being asked to provide expertise on blockchain-based solutions and applications. This includes helping clients understand how blockchain can be used to improve their operations, as well as providing advice on how to implement it into existing systems.

FactSet Consultants must also stay up-to-date with the latest developments in blockchain technology, including new protocols, platforms, and tools. They must also have an understanding of the legal and regulatory implications of using blockchain for various business processes. By staying informed about these topics, FactSet Consultants will be able to better advise their clients on how to best leverage this emerging technology.

Advancement Prospects

FactSet consultants typically start out as entry-level consultants, providing support to clients and helping them to understand the software. As they gain experience, they may move up to become senior consultants, providing more complex support and helping to develop new solutions. With additional experience, they may become project managers, leading teams of consultants and managing client relationships. With even more experience, they may become senior project managers, leading multiple teams and managing large-scale projects. Finally, with the most experience, they may become directors, overseeing the entire consulting team and managing the organization’s relationships with clients.

Interview Questions

Here are five common FactSet Consultant interview questions and answers.

1. Provide an example of a time when you worked on a team project, but there was a member who wasn’t pulling their weight. How did you manage the situation?

This question is an opportunity to show your leadership skills and ability to manage a team. It’s important to be honest in your answer, but you should focus on the steps you took to resolve the situation.

Example: “In my last role as a fact set consultant, I was part of a larger project that required us to work together with other departments. One day, one of our colleagues didn’t come into work, so we had to do their assignments for them. When they returned to work the next day, I pulled them aside and explained how much work we all put into their assignments while they were out. They apologized and promised it wouldn’t happen again.”

2. What do you think makes a great consultant?

This question is an opportunity to show your understanding of the role and how you can be a great consultant. You can answer this question by describing what makes you successful in your own work as a consultant.

Example: “I think that a great consultant understands their client’s needs and delivers solutions that are useful for them. I also believe that it’s important to have strong communication skills, both written and verbal, so that we can clearly explain our findings to clients. Finally, I think that being organized and detail-oriented helps us deliver quality work on time.”

3. What techniques do you use to keep track of multiple projects?

This question can help the interviewer understand how you prioritize your work and manage multiple projects. Use examples from previous experience to explain how you keep track of deadlines, deliverables and other important information for each project you’re working on.

Example: “I use a calendar app that syncs with my phone so I always have access to it. In addition to keeping track of due dates, I also add notes about what I need to do for each task or project. This helps me stay organized and ensures I don’t forget any steps in completing a project. Another tool I use is Evernote, which allows me to create checklists and reminders for tasks I need to complete.”

4. Describe a time when you didn’t agree with management, how did you handle it?

This question can help the interviewer understand how you handle conflict and whether or not you’re willing to speak up when you disagree with a decision. Use your answer to highlight your ability to communicate respectfully, even if you have disagreements with management.

Example: “In my last role as an analyst, I disagreed with my manager’s decision to remove some of our most popular reports from public access. While I understood that there were legal reasons for this change, I felt it was important to maintain these resources for clients who relied on them. I spoke with my manager about my concerns, and we came to a compromise where we would make the reports available only to paying customers.”

5. Have you ever used any financial software before (such as FactSet)? If so, which one?

This question is an opportunity to show your knowledge of the industry and how you can apply it. If you have used FactSet before, share what you know about the software and how it helped you in your previous role.

Example: “I’ve worked with several financial software programs throughout my career, but I find FactSet to be one of the most useful because of its ability to provide me with a wide range of information on companies, industries and market trends. In my last position as a financial analyst, I used FactSet to analyze company data and create reports for senior management.”