What does a analyst do?
An analyst conducts a detailed examination of an area or item, and then uses that information to draw conclusions and achieve business goals. There are hundreds of types of analyst roles, with some of the most common being business analyst, financial analyst, research analyst, data analyst, and sales analyst.
What skills do you need to become an analyst?
If you’re planning to become an analyst, you’ll need strong critical-thinking and problem-solving skills, as well as a background in mathematics. You should also be a clear speaker and excellent listener, as you’ll have to share your analyses with a variety of stakeholders, many of whom won’t share your background. Detail orientation is important, too, as you’ll be dealing with data sets all day long.
What experience and/or certifications do you need to be an analyst?
You can apply to be an entry-level analyst once you have your bachelor’s degree. Analysts graduate with a variety of majors, but finance degrees are the most popular, with economics degrees a close second. Before applying to an analyst role, you’ll want to hone your software savvy, with a focus on analytical software (such as SAS and Tableau), ERP software (SAP and Microsoft Dynamics), and database management software (Microsoft Access). Analysts should also be familiar with the basics of valuation, financial modeling, and investment banking.
More than 75 percent of analysts have done one or more internships before applying to a full-time analyst role. While certification is not usually necessary, it can help build credibility and up your odds of future promotions. For business analysts, the International Institute of Business Analysis (IIBA) offers three levels of certification.
What companies and industries employ analysts?
Analysts work individually and cross-functionally in their organizations, and they’re most likely to be employed in financial services and management consulting industries. Other industries that employ analysts include information technology services and banking. In addition to being hired as an analyst, similar roles at these companies include market research analyst, business analyst, and operations research analyst.
Where can an analyst internship take you?
The majority of analysts find jobs in major US cities, including New York, Seattle, Boston, Washington DC, San Francisco, and Chicago. Check out the graph below for a snapshot of life after an analyst internship.
What is the job outlook and salary for analyst roles?
According to the Bureau of Labor Statistics, employment for analysts is projected to grow over the next decade. Exact growth rates vary widely by title; financial analyst roles are expected to grow by 6%, while operations research analyst roles are expected to grow by a whopping 26%. Salaries vary by field, too, with a financial analyst making a median annual wage of $85,660, while a market research analyst makes $63,120.