Research Analyst as a career covers a broad category that appears in all industry sectors. Research analysts conduct research in an effort to inquire, examine, find or revise facts, principles and theories that helps companies decide how best to package and advertise their products and services. They are hired by organizations to gather market intelligence and present it in a clear and concise manner for customers or colleagues. These professionals are therefore a much valued member of the team whose job is to assess a situation, a market, an issue, or a social context, understand the context clearly and present it to stakeholders who will shape the final project.Careers for research analysts exist in numerous sectors, including marketing, business operations, finance, management and government. They engage in a wide range of activities such as quantitative analysis and qualitative analysis. The role of a research analyst has gained prominence with businesses trying to streamline their efforts and use market intelligence in order to make the most profitable business decisions. With our economy growing to rely on global markets, research analyst will continue to be a challenging and rewarding career for people who enjoy research, problem-solving and have a detail-oriented mind.Some of the work responsibilities of a Research Analyst are:
- Research: Research analysts use research methods to process large amounts of information and build a detailed understanding of the target market, industry, company or opportunity.
- Analysis: They compile the data they find into comprehensive reports for executives and stakeholders. Research analysts synthesize research findings to develop valuable insights and strategic recommendations to the company.
- Forecast: Research analysts use their skills to study market conditions to examine potential sales of a product or service of a company and forecast financial future using forecasting or other mathematical models.
- Communicate/ Presentation: Finally they prepare reports of findings design and create error-free, client-ready presentations in Microsoft PowerPoint, Word, and Excel that can be easily read by clients or stakeholders.
Salaries and Job Outlook*
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The job outlook for research analysts are is expected to be very encouraging with companies seeking to improve and expand their market share by using the expertise provided resulting in better efficiency and cost savings.Research analysts work under various job titles and functions as per their expertise in areas such as, market research analysts, management analysts, operations research analysts or financial analyst. With rising investments in the Indian market in stocks, IPO and private Equity, the need of all these professionals is likely to increase in the Finance Industry.Compensations of research analysts depend upon expertise, experience and the type of organization one is employed with. The average annual salary of a research analyst is INR 3.5 lacs p.a.
Education and Training
The career of a research analyst needs deep understanding of the subject matter in which one is dealing within a company. A master's degree in economics, statistics is often necessary for job requirements. An MBA in marketing is essential for leadership positions. For research analysts opting for a career in the financial industry, registered certification from SEBI is mandatory.
Valued Traits & Abilities
Opportunities in Research Analyst
The Research Analyst is an essential role that contributes in identifying and evaluating growth strategies of a business and help they make better decisions. Opportunities for research analysts with post graduate degree are good among a wide range of employers such as, marketing research firms, financial services organizations, healthcare institutions, advertising firms, manufacturing firms producing consumer goods, and insurance companies. A typical career path of a research analyst would begin as a research executive, research manager and finally research director.Research analysts may find themselves employed under various categories and job titles and may get hired by private organizations, government departments, NGO, academic institutions, financial institutions or healthcare.Some of the career opportunities one can consider under this field are:
Market Research Analysts
Market research analysts do research to find out how well the market receives products or services. This may include planning, implementation, and analysis of surveys to determine people's needs and preferences and also predict future sales for a company.
Operations Research Analyst
They work closely with senior managers to identify and solve complex problems and thereby improve performance of large businesses. Upon concluding appropriate analytics, they presents to management recommendations based on their findings. Opportunities for operations research analysts exist in almost every industry and businesses that rely heavily on them to optimize profits by improving productivity and reducing costs.
Under this field one can consider multiple financial research positions like Private Equity analyst, Investment bank analyst or Equity research analyst. They evaluate current and historical data and recommend individual investments or investment portfolios and provide guidance to businesses and individuals making investment decisions.
- Piramal Enterprises
- Motilal Oswal securities
- GE Healthcare
- Ernst Young
- Angel Broking