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What Does A Research Analyst Do?

A research analyst is responsible for providing a company with insights and advice concerning finance, investments, and expenditures. Utilizing their analytical skills and extensive expertise in marketing, they analyze the trends and significant factors to conclude which decision should be the best to make. They can also take part in conducting an in-depth analysis of a business and examine which areas require improvement or has potential. Furthermore, they may work with a company or independently as a freelance analyst.

Here are examples of responsibilities from real research analyst resumes representing typical tasks they are likely to perform in their roles.

  • Lead capture teams for RFQ's, RFP's and bid packages.
  • Manage a CRO from Australia.
  • Track sales, manage customer service survey system, run billing machine
  • Manage medication studies, and ensury clinical trial centers conduct studies in accordance with GCP standards.
  • Create and manage IRB protocol sessions for various research studies while maintaining human subject protection and good clinical practices.
  • Manage project team meetings using SharePoint calendars.
  • Collaborate with portfolio manager to formulate investment strategy and conduct client meetings to communicate investment strategy.
  • Work with engineering teams to troubleshoot issues.
  • Configure and create Restlet API for getting SRs.
  • Design and code windows in PowerBuilder for EMPRV application.
Research Analyst Traits
Analytical skills
Analytical skills have to do with gathering information from various sources and then interpreting the data in order to reach a logical conclusion that benefits the business.
Communication skills
Communication skills shows that you are able to relay your thoughts, opinions and ideas clearly to those around you.
Detail oriented
Detail oriented involves being extremely mindful and observant of all details.

Research Analyst Overview

Perhaps the hardest question to answer when deciding on a career as a research analyst is "should I become a research analyst?" You might find this info to be helpful. When compared to other jobs, research analyst careers are projected to have a growth rate described as "much faster than average" at 20% from 2018 through 2028. This is in accordance with the Bureau of Labor Statistics. What's more, is that the projected number of opportunities that are predicted to become available for a research analyst by 2028 is 139,200.

A research analyst annual salary averages $62,414, which breaks down to $30.01 an hour. However, research analysts can earn anywhere from upwards of $38,000 to $102,000 a year. This means that the top-earning research analysts make $64,000 more than the lowest-earning ones.

It's hard work to become a research analyst, but even the most dedicated employees consider switching careers from time to time. Whether you're interested in a more challenging position or just looking for a fresh start, we've compiled extensive information on becoming an analyst internship, data analyst internship, analyst sales, and market analyst internship.

Research Analyst Jobs You Might Like

10 Best Resume Templates In 2021

Research Analyst Resume Examples

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Research Analyst Skills and Personality Traits

We calculated that 11% of Research Analysts are proficient in Research Projects, Data Analysis, and Procedures. They’re also known for soft skills such as Analytical skills, Communication skills, and Detail oriented.

We break down the percentage of Research Analysts that have these skills listed on their resume here:

  • Research Projects, 11%

    Managed the execution of primary research projects from questionnaire development, supervised data collection and data tabulation, and prepared reports.

  • Data Analysis, 9%

    Investigated individuals and corporate entities involved in complex litigation, and developed and maintained large databases of information regarding these parties.

  • Procedures, 7%

    Revitalized requisitioning procedures and administrative processes.

  • Market Research, 7%

    Conducted and analyzed qualitative and quantitative market research for national advertising clients of The Martin Agency and other leading advertising agencies.

  • Data Collection, 5%

    Redesigned data collection forms used by the director services contractor to submit service delivery information required by the federal funding agency.

  • Powerpoint, 4%

    Assisted economists in preparing PowerPoint presentations, vulnerability monitors, economic outlook assessments, and staff reports for their respective countries.

Some of the skills we found on research analyst resumes included "research projects," "data analysis," and "procedures." We have detailed the most important research analyst responsibilities below.

  • Analytical skills can be considered to be the most important personality trait for a research analyst to have. According to a research analyst resume, "market research analysts must be able to understand large amounts of data and information." Research analysts are able to use analytical skills in the following example we gathered from a resume: "provided energy statistics, competitive intelligence and gis mapping services for reporting, analysis, forecasting and consulting projects. "

  • While it may not be the most important skill, we found that many research analyst duties rely on communication skills. This example from a research analyst explains why: "market research analysts need strong communication skills when gathering information, interpreting data, and presenting results to clients." This resume example is just one of many ways research analysts are able to utilize communication skills: "research and develop gis map layers for several telecommunications layers. "

  • Detail oriented is also an important skill for research analysts to have. This example of how research analysts use this skill comes from a research analyst resume, "market research analysts must be detail oriented because they often do precise data analysis." Read this excerpt from a resume to understand how vital it is to their everyday roles and responsibilities, "conducted detailed data entry, filed directives and other various paperwork. "

    • See the full list of research analyst skills.

    Before becoming a research analyst, 65.4% earned their bachelor's degree. When it comes down to graduating with a master's degree, 16.7% research analysts went for the extra education. If you're wanting to pursue this career, it may be possible to be successful with a high school degree. In fact, most research analysts have a college degree. But about one out of every eight research analysts didn't attend college at all.

    The research analysts who went onto college to earn a more in-depth education generally studied business and finance, while a small population of research analysts studied economics and political science.

    Once you've obtained the level of education you're comfortable with, you might start applying to companies to become a research analyst. We've found that most research analyst resumes include experience from Facebook, Duke University, and CBRE Group. Of recent, Facebook had 41 positions open for research analysts. Meanwhile, there are 12 job openings at Duke University and 11 at CBRE Group.

    Since salary is important to some research analysts, it's good to note that they are figured to earn the highest salaries at The George Mason Bank, First Republic Bank, and Castleton Commodities International. If you were to take a closer look at The George Mason Bank, you'd find that the average research analyst salary is $156,460. Then at First Republic Bank, research analysts receive an average salary of $131,850, while the salary at Castleton Commodities International is $129,432.

    View more details on research analyst salaries across the United States.

    We also looked into companies who hire research analysts from the top 100 educational institutions in the U.S. The top three companies that hire the most from these institutions include CoStar Group, JPMorgan Chase, and Moody's.

    The industries that research analysts fulfill the most roles in are the finance and education industries. But the highest research analyst annual salary is in the finance industry, averaging $90,642. In the government industry they make $76,549 and average about $75,671 in the technology industry. In conclusion, research analysts who work in the finance industry earn a 28.3% higher salary than research analysts in the professional industry.

    The three companies that hire the most prestigious research analysts are:

      What Analyst Internships Do

      An analyst internship is a student program where an intern is assigned to assist analyst professionals by analyzing business goals, objectives, and needs. Analyst interns assist in the planning and designing of business processes and suggest recommendations for improvement. They conduct research and analysis to support business operations and resolve issues using systems and data. They also help estimate the costs and benefits of multiple business actions and help the business organization launch new initiatives.

      We looked at the average research analyst annual salary and compared it with the average of an analyst internship. Generally speaking, analyst interns receive $26,564 lower pay than research analysts per year.

      Even though research analysts and analyst interns have vast differences in their careers, a few of the skills required to do both jobs are similar. For example, both careers require data analysis, market research, and data collection in the day-to-day roles.

      There are some key differences in responsibilities as well. For example, a research analyst responsibilities require skills like "research projects," "procedures," "powerpoint," and "healthcare." Meanwhile a typical analyst internship has skills in areas such as "c++," "windows," "portfolio," and "business process." This difference in skills reveals how truly different these two careers really are.

      Analyst interns really shine in the professional industry with an average salary of $59,418. Whereas research analysts tend to make the most money in the finance industry with an average salary of $90,642.

      Analyst interns tend to reach lower levels of education than research analysts. In fact, analyst interns are 6.9% less likely to graduate with a Master's Degree and 4.2% less likely to have a Doctoral Degree.

      What Are The Duties Of a Data Analyst Internship?

      A data analyst internship involves a trainee who wants to gain working experience in the field of information technology (IT) by assisting data analyst professionals. Data analyst interns should examine information using data analysis tools so that they can help their employers make important decisions by identifying various facts and trends. They write reports and present them to the management to provide new insights about new trends and areas for improvement. Data analyst interns can find work in areas such as banks, specialist software development companies, and consultancies.

      Next up, we have the data analyst internship profession to look over. This career brings along a lower average salary when compared to a research analyst annual salary. In fact, data analyst interns salary difference is $40,298 lower than the salary of research analysts per year.

      While the salary may be different for these job positions, there is one similarity and that's a few of the skills needed to perform certain duties. We used info from lots of resumes to find that both research analysts and data analyst interns are known to have skills such as "data analysis," "market research," and "data collection. "

      But both careers also use different skills, according to real research analyst resumes. While research analyst responsibilities can utilize skills like "research projects," "procedures," "powerpoint," and "data entry," some data analyst interns use skills like "analytics," "data extraction," "data visualization," and "bi."

      On average, data analyst interns earn a lower salary than research analysts. There are industries that support higher salaries in each profession respectively. Interestingly enough, data analyst interns earn the most pay in the technology industry with an average salary of $41,987. Whereas, research analysts have higher paychecks in the finance industry where they earn an average of $90,642.

      On the topic of education, data analyst interns earn similar levels of education than research analysts. In general, they're 5.0% more likely to graduate with a Master's Degree and 4.2% less likely to earn a Doctoral Degree.

      How an Analyst Sales Compares

      Analyst sales, or a sales analyst, is a professional who is responsible for increasing sales and revenue of a company by running competitive analysis and making recommendations on how the marketing and sales team should move forward. Sales analysts must assist in the review of monthly financial statements and prepare complex financial statements for retail and service businesses. They develop and provide market intelligence data solutions for the sales team to maximize territory sales efforts. Sales analysts must also maintain a business relationship with key account top management to deliver outstanding customer service and assistance.

      The third profession we take a look at is analyst sales. On an average scale, these workers bring in lower salaries than research analysts. In fact, they make a $1,992 lower salary per year.

      While looking through the resumes of several research analysts and analyst sales we discovered that both professions have similar skills. These similarities include skills such as "data analysis," "market research," and "financial statements," but they differ when it comes to other required skills.

      As mentioned, these two careers differ between other skills that are required for performing the work exceedingly well. For example, gathering from research analysts resumes, they are more likely to have skills like "research projects," "procedures," "data collection," and "powerpoint." But a analyst sales might have skills like "salesforce," "crm," "product category," and "sales goals."

      Interestingly enough, analyst sales earn the most pay in the retail industry, where they command an average salary of $65,854. As mentioned previously, research analysts highest annual salary comes from the finance industry with an average salary of $90,642.

      When it comes to education, analyst sales tend to earn lower education levels than research analysts. In fact, they're 9.9% less likely to earn a Master's Degree, and 5.1% less likely to graduate with a Doctoral Degree.

      Description Of a Market Analyst Internship

      When it comes to a marketing analyst internship, an intern primarily follows a senior or a more experienced officer's directives. Most of their tasks will revolve around processing paperwork, maintaining records and databases, participating in research and analyses, and assisting senior analysts in various projects. There are also instances where they can attend meetings, participate in social media handling, and even share marketing insights. Furthermore, as an intern, it is essential to learn and adhere to the company's policies and regulations.

      Now, we'll look at market analyst interns, who generally average a lower pay when compared to research analysts annual salary. In fact, the difference is about $24,372 per year.

      While their salaries may vary, research analysts and market analyst interns both use similar skills to perform their jobs. Resumes from both professions include skills like "research projects," "data analysis," and "market research. "

      Each job requires different skills like "procedures," "python," "healthcare," and "customer service," which might show up on a research analyst resume. Whereas market analyst internship might include skills like "capital markets," "competitive intelligence," "income," and "market strategy."

      The average resume of market analyst interns showed that they earn lower levels of education to research analysts. So much so that the likelihood of them earning a Master's Degree is 8.4% less. Additionally, they're less likely to earn a Doctoral Degree by 3.9%.

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      Updated October 2, 2020