Responsibilities of a Research Analyst
Research analysts are usually endowed with analytical and mathematical skills and therefore they have to make use of these skills in undertaking various duties and responsibilities like in the assessment of company's or an industry's economic performance. As a result these assessments are used in creating various detailed reports on key aspects of various industries or businesses. They are extensive, detailed periodicals that are distributed amongst the clients, the bankers, etc. for various purposes.
The research analysts are supposed to put their focus on a specific company or industry and they are responsible to read thoroughly their annual and quarterly finance statements and records, so as to determine the company's value and do the estimation of the company's earnings in the near future. Research analysts who are in the senior position are required to participate in the conference calls on a quarterly basis with all the analysts and the investors from various firms in competition. This is done to acquire data directly and also interact with the other industries' and companies' senior authorities and management team. If you want to succeed in this field then you need to be attentive and updated about the current business trends, policies, competitions and other factors that would help in determining where to invest and how to excel in various departments.
Educational Qualifications Required To Be A Research Analyst
To be successful in this field of research analysis one must be a graduate with a degree in subjects like accounting, business, finances, economics and other similar subjects. Having a master's degree would increase one's chances to excel further. Other degrees that can further brighten you job chances are Master of Science in Finance (MSF), Chartered Financial Analyst (CFA) or Certified Public Accountant (CPA).
Skills Required By a Research Analyst
Research analysis is all about good observation skills, attention to detail, and research oriented skills. They also need to have good analytical skills. Apart from these, they must also have good communication skills with a calculative mind. Candidates also require being familiar with basic computer programs like Word, Spreadsheet, etc. to be able to make reports and graphs based on data researched. They must also have good foresight to be able to make a forecast about market conditions and other aspects.
The average annual salary of most of the research analysts is usually around $66,590 and this industry would grow up to 34% as per the expectations by 2016.
You must be ready to work hard with dedication to be a research analyst. You will be required to work for long hours. Competition is immense in this field hence you need to be really excellent at your job to get placed with a reputable organization and earn a handsome remuneration.
