How to Become a Research Analyst

A research analyst prepares and delivers analysis reports on market segments, competitors or investment opportunities to upper management, frequently for a financial services company (though many other industries employ research analysts as well). In the United States, an advanced business and/or accounting degree is generally required to become a research analyst.

Things You'll Need

• MBA, MSF, CPA or CFA designation
• Employment experience as a research associate or associate analyst

Instructions

Train to Become a Research Analyst

1. Get your Bachelor's degree in a finance-related field. Since you'll need to go on to complete an advanced degree, it's important not only to have high grades but also to acquire practical experience in the summer jobs you choose to work. Research early so you'll know what advanced business or accounting schools require of their applicants.

2. Get an entry-level job in the research analysis department of a well-established company. If possible, accept a job offer from a company that is willing to finance or sponsor your Master of Business Administration or other advanced degree training, as many do. An entry-level job will usually be a "research associate" position.

3. Go on to complete your MBA, at a top-tier business school if possible. If you get a Master of Science in Finance (MSF), Chartered Financial Analyst (CFA) or Certified Public Accountant (CPA) designation, you may not need an MBA per se.

Work As a Research Analyst

1. Work in an associate position for at least 2 to 3 years while or after you complete your advanced degree or professional designation training.

2. Develop and foster excellent written and verbal communications skills, as you'll be required to make regular presentations to company management once you become a research analyst.

3. Demonstrate a commitment to developing very strong conceptual analysis and critical thinking skills. Anticipate a very heavy work schedule, both as you gain the experience you'll need and after you become a research analyst. Competition is fierce in the financial services industry, and you'll have to earn your keep through hard work and dedication.

4. Apply for a research analyst job when you are in a position to demonstrate the critical thinking, communication and analysis skills you'll need. This can only be accomplished by gaining associate-level experience as prescribed in Step 1 of this section. By combining advanced degree training, 2 to 3 years' experience and a proven track record, you'll qualify for a career as a research analyst.

Tips & Warnings

• College and graduate school internships are an excellent back-door route to acquiring the work experience you'll need to succeed as a research analyst.