Research Analyst Job Descriptions
A research analyst, sometimes known as a financial analyst, is a financial services professional employed primarily by large investment banks, insurance companies, securities firms and the business media to provide expert analysis and investment guidance on a variety of companies and industries.
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Job Responsibilities
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Research analysts use their strong math and analytical skills to assess the economic performance of companies and industries for their clients. The results of these assessments generate a research report, which is a detailed and extensive periodical distributed exclusively to the clients, and in certain situations, the bankers of the firm for which they are employed. Research analysts will generally focus on a specific industry or company, read their quarterly and annual financial statements to determine the value of the company and then estimate future earnings. Most senior research analysts will participate in a quarterly conference call with investors and analysts from competing firms to get direct data and interaction with the companies and industries senior management team. Minimum job requirements for a successful research analyst include keeping a close eye on business trends, competition and new regulatory policy that might affect the investments for which they are responsible.
Job Opportunities
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Research analyst positions are highly competitive, especially among candidates with masters of business administration degrees, however some companies accept recruits with a bachelor's degree for certain entry-level positions. New York, Philadelphia, Boston, Chicago and Los Angeles are the five major U.S. cities with a heavy presence in financial services and are the candidate's best bet for gaining employment in the industry.
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Qualitative Requirements
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A successful research analyst will have a close eye for detail, possess strong analytic and communication skills, have a strong background in math, be extremely comfortable with advanced computer software such as spreadsheets and database programs, spot market trends, develop financial forecasts, work independently and meet deadlines.
Educational Requirements
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At minimum, a bachelor's degree in finance, business, accounting or economics is required, however it is recommended that those candidates seeking employment with the major investment houses also have a graduate degree.
Average Compensation
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The United States Bureau of Labor Statistics reports the average research analyst working in the United States earns an annual base salary of $66,590. The industry is expected to see a 34 percent increase in its work force by 2016.
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References
- Photo Credit stock.xchng http://www.sxc.hu
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