Research associates are researchers who usually hold an advanced degree which goes beyond the master’s degree. In universities like Harvard, Harvard Medical School and others, students complete the PhD programs and then get the equivalent training required for the PhD. Along with this, they must have done exceptionally well in the independent research. The research associate position allows the candidates to grow their professional network and get as much experience as possible and more. In the following article, we are going to dig deep into the topic and know exactly What is a Research Associate? Along with it, information regarding the career, job profile and others will also be discussed.
What is a Research Associate?
Research associates can be promoted to senior research associate, senior research scientist, principal research scientist, and even the head of research or its equivalent. Candidates who choose the Research Associate roles typically work in the research department of investment banks or asset management firms.
The role of the Research Associate is to provide essential data that can help in the firm’s decision-making in buying and selling securities. The role of the Research Associate is not limited to that only. Check out our next paragraph to know the job profile in detail:
What is a Research Associate Role?
A research associate is one of the common roles in academics and research institutes. Usually, a research associate works with other researchers and faculty members on different projects. The roles of research associates can differ based on the organization and field he/she works in. However, given below is the list of some typical duties done by a research associate:
- One of the most common roles of a Research Associate is to closely work with the PI (Principal Investigators), Research Associates Plan, carry out and manage the research projects. Research associates need to offer their views and knowledge regarding designing, analyzing or studying.
- One reviews literature in depth, which helps comprehend the state and content of art and concepts. As a result, methodologies and hypotheses of research are formulated.
- The role of the Research Analyst is also to carry out the fieldwork and experiments related to the laboratory based on the field. They help provide a procedure that is more accurate as well as secure.
- The position requires specialized technical competencies based on the area in which they are working,
Also Read: How to Become a Data Scientist?
Career Path of a Research Associate
Based on the hierarchical structure of the respective organization, a Research Associate can be considered at the same level as a Research Assistant or above and the same level or below as a Research Analyst. Please note that the candidates usually work for a minimum of two years before they start getting promoted, whether they get the position of Senior Research Associate or Research Analyst position. It is important to remember that most of organizations place the position of analyst above the position of an Associate.
When a person gets more experience, they can become a Senior Analyst or the Research Director or move inside or outside of an organization. For example, a research professional (seasoned) who does not want to get promoted within the organization can easily move towards the product group in the role of marketing or a different firm altogether.
What is a Research Associate Job Profile and Requirement?
It is not unknown that the end product of a research department is none other than written research. So, it is important for a person with the Associate role to be able to write well. The role of educational requirements is different. However, it is compulsory to attain at least a bachelor’s and master’s degree in business, economics or finance.
One should be able to distil data with huge numbers and communicate it to others effectively. Other skills come forward as the advances of an individual. In this case, a person attending a client meeting must have good listening skills, social skills and others. In case a person travels around for the IPO, i.e., Initial Public Offering, they must be able to give a presentation well and have good sales skills.
What is the salary of a research associate?
Candidates who qualify all the required qualifications and become selected for the position of Research Associate get a handsome salary. So, the average salary of a Research Analyst is Rs. 31,961 per month. The average salary of a Research Associate is Rs. 40,097 per month in New Delhi and surrounding areas. It is one of the highest in the country for the same role.
Please note that the salary mentioned is just an estimate, and the actual amount might vary. The difference depends on the field of specialization, experience in the relevant field and others. The industry in which the person works for the Research Association position might also affect the salary amount.
Frequently Asked Questions
What is the difference between a research assistant and a research associate?
The knowledge and Education required for the position of Research Associate is greater than the one required for the position of Research Assistant. A bachelor’s degree is more than sufficient to get the position of Assistant. However, a specialised degree is needed to become an associate. Lastly, associates have more responsibilities and also have not led the research team.
How can one become a research associate?
Given below are the steps which need to be followed to become a research associate:
The first thing is to complete the schooling. Once, you are done, with schooling, get admission to a recognized university and attain a bachelor’s degree in finance, Economics or related. After that, complete the master’s program with specialization and one can also complete the Ph.D. to get a better company or Research Associate post.
What are the skills required to become a research associate?
The skills usually depend on the company in which you are working, for example, one must have social skills if one needs to travel a lot. However, some of the common skills which are expected of a Research Associate are budget management, project management, data management and others.
