How to become a research analyst
If you love to uncover insights and possess a natural drive to understand the complete picture, a career as a research analyst could be right for you. With intellectual curiosity and attention to detail, you'll transform your analytical thinking into valuable insights. Below, learn how to channel your investigative mindset into a career as a research analyst.
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What does a research analyst do?
Research analysts gather data about a particular subject and use their analytic skills to provide insights. But the job consists of more than simply gathering facts. Research analysts also present those findings in a clear, accessible way so others can gain a thorough understanding of the subject matter and draw meaningful conclusions.
When faced with questions about markets, business decisions, or other challenges, research analysts begin by gathering data. They'll draw on a wide array of sources and analyze patterns and trends.
Once that happens, they'll report their findings. This process helps others make key decisions based on facts and historical trends, not just gut feelings or guesses.
Research analysts can specialize in a variety of fields. Financial and investment analysts made a median salary of $99,010 in 2023, according to the Bureau of Labor Statistics (BLS). Market research analysts made $74,680 in that same year, while operations research analysts earned $83,640.
Steps to become a research analyst
Research can enable you to choose your own path. You can specialize in just about any industry or even analysis type. But first, you need the right education.
Step 1: Earn a bachelor's degree
You can earn a bachelor's degree in just about any field to prepare you for your career. If you love the world of finance, you could get a bachelor's in finance or economics. With a degree in computer science, you might work with tech companies. You can get a bachelor's in marketing or business to work in the business sector.
If you aren't sure what industry you'd like to work in, you can also get a bachelor's degree in a more general field such as mathematics, statistics, or even data science. You'll develop a strong foundation in statistical analysis and data interpretation, as well as gain critical thinking and problem-solving skills.
Step 2: Earn an advanced degree (optional)
In some cases, having an advanced degree could help you land a better position or work in a more specialized field.
For example, a master's in data science might open up more lucrative, senior positions. According to the BLS, data scientists earned a median salary of $108,020 in 2023. A master's in education might allow you to work in local or state leadership positions, and a master's in mathematics opens up higher earning potential and versatility in multiple industries.
Step 3: Earn the appropriate certifications (optional)
Some fields may also require additional certifications. For example, a financial analyst position may require you to become a Certified Financial Analyst, while an equity research analyst may need a Financial Modeling and Valuation Analyst certificate.
Check with your industry, state, and desired company to see if there are any required certifications for employment.
Get started on edX
Explore certificate and degree programs from edX or sign up for a course as you prepare for your career. You can take a variety of foundational courses to prepare to become a well-rounded research analyst in just about any field.