Research Analyst is a role in which the person collects all the data related to finance, analyses it, makes a logical conclusion and finally creates a research report. People with strong mathematical backgrounds or persons with high determination in giving financial advice to businesses can make a good career as a Research Analyst. Interested ones can make a good career and improve the skills required for the role after getting enough knowledge beforehand.
In the following article, we are going to get the answer to What is a Research Analyst. Along with it, we are going to discuss information related to job roles, career opportunities, salary and others. So, start scrolling down the page and take a look at it.
What is a Research Analyst?
A research analyst is typically considered a financial professional who is responsible for gathering analysing, deciding and finally preparing a research report usually on stocks, securities and assets. They are considered proficient with the principles of economics. They use their knowledge received from studies regarding the consumer market and examine the records available for securities, stocks and commodities.
There is a high demand for Research Analysts in the market right now considering the growing interest in the stock market and equivalent. Research Analyst usually works in the financial sector and help the company to buy, investor sell securities. Once you are done understanding the meaning of Research Analyst, you should start learning information regarding their job role. Scroll down to get those details:
What is a Research Analyst’s Job Role and Responsibility?
The following are some of the roles elaborated in detail for the above-mentioned position:
- One needs to understand the requirements made by the respective company or client to efficiently research their benefits.
- Understand the past trends in detail and based on them, provide recommendations which can be used for improvement based on the analysis.
- Based on the performance of the company, forecast what would be the future performance of the stocks and commodities of the company.
- Prepare detailed reports which can be read easily for the use of clients regarding the assets and commodities owned by the company.
- Use modern statistical and financial data modeling techniques and tools which can be easily understood by the clients and look more convenient.
- There can be a requirement for data anytime in the future so it is better to be prepared beforehand by organising and storing the data safely.
- For the presentation of business stakeholders, you can make the data more efficient by converting the analysed data into charts, graphs and more.
- It will be expected for the analyst to improve the business processes with their skills and knowledge.
- Use your knowledge and offer your ideas and advice which can be used by the business to improve the processes and workflow.
- To make the efficient and improve it, by testing the financial processes and policies.
How does a research analyst work?
Please note that Research Analyst is mostly a full-time job. However, many people work as freelancers who work for different companies on a certain project. It is mostly a desk job which does not require much travelling. It is considered one of the most diversified positions. So, one might have to work alone or with some people as a team. Standard business hours are required to work and there might be a few cases where one has to work more than the business hour to meet the deadline or based on the volume of the work. Research Analyst typically works in a financial firm and the financial department of a certain company.
What are the Career Opportunities for research analysts?
Research Analyst is one of the most efficient jobs in the corporate field. Ones who have a strong feeling on giving guidance which can help the respective company be better off than then their competitors. People in this profession typically earn an attractive salary along with other benefits and perks. One thing that most people do not know is that the Research Analyst job is not limited to the finance industry only. One can also work in other sectors. Below are some of the common types in other sectors:’
- Buy-Side Research Analyst: Companies like asset management and institutional investors demand buy-side analysts. Under this career, professionals will have to check out which investment is more promising and how will it fit the strategy regarding the investment.
- Sell-Side Research Analyst: There is a high demand for Sell-Side Analysts in brokerage companies and firms which are responsible for managing the accounts of individual customers. The roles of these professionals are to buy, hold and sell stock recommendations.
What is a Research Analyst’s Salary?
It has been expected that the average salary of a Research Analyst revolves around Rs. 2,63,551 per year. However, it is just an estimated amount. The amount of salary depends on various categories such as the location, type of firms, qualification of the candidates, other skills and more. The industries that offer the highest salary in this field are the banking and finance sector, pharmaceutical firms, medical organisations and IT firms. Experience is an additional point to get an increment in the salary.
Frequently Asked Questions
What are the required skills of a Research Analyst?
Here are some of the common skills which are expected from a person with a research analyst job role:
good communication skills, good understanding of financial maths, use of effective statistical tools, organizational skills, ability to work under pressure and Problem-solving and analysing skills.
How can one become a Research Analyst?
Applicants will first have to complete the qualifications i.e., earn a bachelor’s degree in mathematics, finance, business or economics. After that, post-graduation in the relatable specification. Now, get an internship in the same field, get your certificates and finally, you are eligible to apply for the Research Analyst position.
Are Research Analyst and Research Associates posts the same?
There are many things common in the position. However, both of them are different Research Associates who require more qualifications than Analysts. There is also a difference between the average salary of both posts.
