Q: Are analyst jobs in demand?

Yes, analyst jobs are in demand. The job market for analysts is projected to grow 11% from 2019 to 2029, much faster than the average for all occupations. Demand for the services of these workers is expected to increase as organizations continue to seek ways to improve efficiency and control costs.

Question 1

What are 8 types of analysts?

Accepted Answer

While being an analyst is often thought of as a single occupation, there are actually several different types of analysts with their own skills and specialties. Below are 8 types of analysts:

Analyst
Analysts are employees or individual contributors with a vast experience in a particular field that help the organization address challenges. They help the organization improve processes, policies, and other operations protocol by studying the current processes in place and determining the effectiveness of those processes. They also research industry trends and data to make sound inferences and recommendations on what the company should do to improve their numbers. Analysts recommend business solutions and often help the organization roll out these solutions. They ensure that the proposed action plans are effective and produce the desired results.
Average Analyst Salary: $70,668
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Associate Analyst
An associate analyst is a professional who is responsible for the research and investigation for a specific business process and department to help the senior staff make further decisions. Associate analysts must use their analytical skills to understand how the collected data can affect business decisions, then prepare reports that detail findings and recommend solutions. They must assist in developing new business models that can generate profits while reducing costs. Associate analysts can work in various industries ranging from finance and operations to information technology (IT) and marketing.
Average Associate Analyst Salary: $68,428
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Staff Analyst
Staff Analysts are employees who oversee the activities related to the employees. They monitor the performance of the employees and assess whether particular employees suit the role they have. They also assess the current roles in the company to see if those roles are really needed. Staff Analysts ensure that the manpower allocation in the company is efficient. They analyze staff-related data to check whether there are more areas for improvement. Staff Analysts may also be assigned to come up with projects related to improving productivity.
Average Staff Analyst Salary: $85,736
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Product Analyst
A product analyst job utilizes data analysis software and notates trends in market research. Primarily, analysts project the costs of product development and marketing. They think of the possibilities for profit and sales and monitor the performance of products on the market to come up with a better product. Their responsibilities include company product evaluation, product understanding, and product rating reviews. Familiarity with Microsoft Office Suite, strong communication skills, and proficiency in database software is necessary for this job.
Average Product Analyst Salary: $74,440
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Control Analyst
A control analyst is a professional who is responsible for identifying weaknesses in the work process of an organization and implement methods to minimize risks. Control analysts are required to supervise the process for incident reports and provide technical guidance to their personnel. They must prepare monthly general ledger account analysis and balance sheets reconciliations that are according to the generally accepted accounting principles (GAAP). Control analysts should also assist with the organization's ISO audit procedures and findings.
Average Control Analyst Salary: $69,169
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Resource Analyst
A resource analyst is responsible for conducting data and statistical analysis, analyzing trends research, and identifying cost-reduction opportunities that would generate revenues and increase profits. Resource analysts evaluate budgeting and financial transactions and implement strategical methodologies to improve business operations, project management, and customer relationships. They also monitor the resource management of the business by coordinating with third-party providers and the senior management to facilitate operational concerns and requests for collaborative partnerships with the clients.
Average Resource Analyst Salary: $64,403
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Business Analyst Associate
A business analyst associate job supports collaborating with financial reporting and developing strategies and initiatives that optimize costs and improve internal and external reporting. They work closely with business analysts to help make improvements in streamlining reports and review the process requirements by constantly communicating with the clients or end-users. The role should also call for a solid understanding of regulatory and requirements in reporting as well as experience in forecasting, budgeting, and financial analysis shared with a comprehensive understanding of key performance indicators.
Average Business Analyst Associate Salary: $64,000
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Assistant Analyst
The duties of an assistant analyst depend on one's line of work or industry of employment. Their responsibilities typically include conducting extensive research and analysis to gather insights and performing support tasks such as preparing and processing documents, coordinating with different departments to gather data, answering calls and correspondence, liaising with external parties, and participating in developing plans. Furthermore, as an assistant analyst, it is essential to recommend solutions to optimize business procedures, all while adhering to the company or organization's policies and regulations.
Average Assistant Analyst Salary: $52,391
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Question 2

What is a performance reporting analyst?

Accepted Answer

A performance reporting analyst is a reporting analyst concerned specifically with the performance of a specific team or project. Performance reporting analysts look at factors such as timelines and workflow to identify weaknesses and project outcomes.

Question 3

What qualifications do I need to be an analyst?

Accepted Answer

The qualifications you need to be an analyst are a high school diploma or equivalent and relevant technical and soft skills, though most analysts hold a college degree.

Though you can become an analyst with only a high-school diploma or equivalent, to be competitive and to advance, you will need a bachelor's or master's degree in a relevant field.

Question 4

Are analyst jobs in demand?

Accepted Answer

Yes, analyst jobs are in demand. The job market for analysts is projected to grow 11% from 2019 to 2029, much faster than the average for all occupations.

Demand for the services of these workers is expected to increase as organizations continue to seek ways to improve efficiency and control costs.

Question 5

How can I become a good reporting analyst?

Accepted Answer

You can become a good reporting analyst by earning an applicable bachelor's degree and gaining relevant technical experience. Reporting analysts are data specialists in an organization tasked with operational optimization.

Question 6

How much do reporting analysts make?

Accepted Answer

Reporting analysts make an average salary of $69,977 a year, or $33.64 an hour. Top earning reporting analysts make $93,000 a year, on average, with the lowest earners making $52,000.

Reporting analyst salaries are fairly constant, with a bit of variation depending on industry and location.

Question 7

How do you list reporting skills on a resume?

Accepted Answer

You list reporting skills on a resume in a business context. The first thing to focus on is what type of reporting the employer has listed on the announcement. Check the company's needs against your own experience and expertise, then show them that you are the perfect candidate through your resume.

Frequently asked questions about reporting analysts

Questions about becoming a reporting analyst