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Career as Industry Analyst

Career as a Industry Analyst

About Industry Analyst

An Industry Analyst is a person who is responsible for carrying out research in market sectors such as automotive, technology, pharmaceuticals or financial services. Besides this, he also collects information about the current industrial trends depending on the type of industry he is working for.  An Industry Analyst accesses financial data and advises beneficial financial programs to the investors. Some of the major duties of an Industry Analyst are preparing forecasts, creating segment taxonomies, developing industrial models and drawing and assembling spreadsheets bases on the research. Industrial financial analysts are usually trained in a particular sector or sub-sector and they conduct research on general market growth rather than analysing individual publicly traded stocks or equities. 

Responsibilities of an Industry Analyst

Check some major responsibilities of an Industry Analyst listed below.

  • Conducting surveys for all types of customers on various topics

  • Designing and examining trends for raw information and creating new content concepts as per the requirement of the client

  • Preparing weekly and monthly reports based on market research

  • Collecting data from all internal as well as external sources and utilising them to analyse the growth of the organization

  • Supervise all cross-functional activities and delivering the product within the decided budget

  • Recommending and performing changes in the existing market research report

Eligibility to become Industry Analyst

Candidates aiming for a career as an Industry Analyst will have to meet some of the eligibility requirements decided by the company. The eligibility criteria for becoming an Industry Analyst are set out below.

Education Required

  • Bachelor’s degree in mathematics, computer science, statistics or market research

  • Master degree in mathematics or analytics may be required for higher positions

  • Knowledge of some analytics tools such as  JIRA, GoodData, SAP Lumira and Google Analytics 360 Suite

Certification

  • Those who have completed a certification in market research or analytics will get some advantage over other competitors

Work Experience

  • Work experience of 1-3 years in market research

Skills

Some of the skills required for an Industry Analyst are:

  • Analytical skills

  • Problem-solving skills

  • Communication skills

  • Leadership skills

  • Managerial skills

  • Negotiation skills

  • Critical Thinking skills

Courses to become an Industry Analyst

The table provided below contains some courses that you can pursue in order to become an Industry Analyst. You can apply to these courses by filling our Common Application Form

Course

Total Fee (Approx)

Top Colleges for Statistics and Market Research

B.Sc in Statistics

INR 12,000 to INR 50,000

B.Sc. in Mathematics

INR 10,000 to INR 50,000

BBA in Business Analytics

INR 35,000 to INR 3.00 lakh

PGDM in Business Analytics

INR 1 lakh to INR 5.00 lakh

MBA in Data Analytics

INR 40,000 to INR 6.00 lakh

Types of Job Roles Industry Analyst

Job roles of an Industry Analyst will vary from company to company. For eg. an IT Industry Analyst will be responsible for conducting research for the scope of growth of the product of the company. Besides this, he will be responsible for providing suggestions and advice to the team on what changes are needed in the existing research report.  Some of the major job profiles available for an Industry Analyst are provided below.

Employment Opportunities for Industry Analyst

Industry Analyst mainly works for banks, market research firms, investment firms and consultancies that specialize in one or more sectors. Besides this, some of the IT companies hire an Industry Analyst to understand and adopt the current market trends and proving suggestions based on the research. The graph provided below will help you understand the employment opportunities that are available for an Industry Analyst. 

 

Employment Opportunities for Industry Analyst

If you want to know more job opportunities available for Industry Analysts then you can ask questions on the Collegedekho QnA zone

Top Recruiting Agencies for Industry Analyst

Some of the major recruiting companies for Industry Analyst are listed below.

  • ICICI Group

  • HDFC Standard Life Insurance Co. Ltd.

  • Life Insurance Corporation of India

  • Kotak Mahindra Asset Management Company

  • Angel Broking

  • Aditya Birla Sun Life Mutual Fund

  • Sharekhan

Planning to choose Industry Analyst as your career?

Pay Scale/Salary of Industry Analyst

  • An experienced Industry Analyst can earn up to 7 lakh per annum.

  • Those who are new to the industry may get an average salary of INR 3-4 lakhs per annum

Profile

Starting Salary per annum (in INR)

Mid Level Salary per annum (in INR)

Senior Level Salary per annum (INR)

Industry Analyst

6,39,000

9,90,000

15,10,000

Salary of Industry Analyst

 

Books & Study Material to Become Industry Analyst

An Industrial Analyst should be updated with the latest trends. Besides this, he should have good analytical skills. Some of the books recommended provided below may help an Industry Analyst to learn new marketing strategies. 

  • Competitive Strategy by Michael Porter

  • Business and Competitive Analysis by Babette Bensoussan and Craig Fleisher

  • Modern Competitive Analysis by Sharon M. Oster

  • Market Research in Practice by Carol-Ann Morgan, Nicholas Hague, and Paul N. Hague

  • Strategy and Competition by Joan Magretta and Michael Porter

Pros of becoming a Industry Analyst

  • You will get a handsome salary package

  • Many employment opportunities are available for an Industry Analyst

  • This profile will help you know about the current market trends

  • This profile is ideal for candidates who are comfortable working indoors

Cons of becoming a Industry Analyst

  • The job can get really hectic and you may have to meet strict deadlines

  • You will have to stay updated with the latest trends

  • Work experience of 1-3 years is required for this position

  • You should have good analytical skills

Paths for Being Industry Analyst

FAQs about Industry Analyst

Where can an Industry Analyst apply for a job?

Some of the major sectors where an Industry Analyst can apply for a job are banks, market research firms, and investment firms.

What is the average salary of an Industry Analyst?

The average salary of an Industry Analyst will depend on his experience and skills. A fresher can earn up to INR 3 lakh per annum.

What are the pros of career as an Industry Analyst?

You will get a handsome salary package and career as an Industry Analyst will help you understand current market trends.

What are the courses to become an Industry Analyst?

Some of the courses that can help you become an Industry Analyst are BBA in Business Analytics and MBA in Data Analytics.

What skills are required for Industry Analyst?

Some of the skills required for Industry Analyst are analytical skills, communication skills and critical thinking.

What are the major recruiters for Industry Analyst?

Some of the major recruiters for Industry Analyst are Life Insurance Corporation of India, Kotak Mahindra Asset Management Company and Angel Broking.

What are the responsibilities of an Industry Analyst?

Some of the major responsibilities of an Industry Analyst are conducting market research, preparing weekly reports and proving suggestions to the team for improvement in existing marketing strategies.

What is the eligibility criteria to become an Industry Analyst?

Candidates must have completed a bachelor's degree in market research, mathematics, statistics or any relevant field to become an Industry Analyst.

What other job profiles are available for an Industry Analyst?

Some of the other job profiles available for an Industry Analyst are Budget Analyst, Market Research Analyst, Stock Analyst and Quantitative Analyst.

What does an Industry Analyst do?

An Industry Analyst analyses the market and prepares reports as per the market research. Besides this, he also provides an idea about the scope of growth for the product.

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