The basic qualification required to get the job of a research associate is an accounting, marketing, or advanced business degree. You can get a bachelor's degree in the field of finance and then proceed to gather a higher degree. As you go for a higher degree, you need to get good grades and also proper practical experience. You should be aware of the requirements that the advanced accounting schools and business schools seek.
There are some organizations that sponsor or finance higher degrees like MBA, of its employees. If possible, get a job in such company and take a step towards becoming a research analyst. Complete the degree of Masters of Business Organization from a well respected business school, if possible. If you do not wish to get an MBA, then you can choose from the degrees like Chartered Financial Analyst (CFA), Master of Science in Finance (MSF), or Master of Science in Finance (MSF).
When you join an organization as a research associate, your role would be to study statistics and figures to figure out current market trends and forecast future sales based on a study of competitors. They also research on consumer preferences and demands. This helps in strategizing and devising sales and market plans. A research associate also conducts consumer surveys to gather information.
While doing your professional degree course, apply for entry-level positions such as a research associate. Get hired by a company and work as their research associate for some two to three years. This simultaneous job and higher degree will prove to be extremely beneficial. When your higher degree course will get over, you will already have practical work experience. Thus, you can start applying for the position of research analyst.
Communication skills are the most essential aspect to shine in this career. Remember that as a research associate or a research analyst you have to make regular presentations to the management of the company and hence proper communication is a must. You must also possess observation and organizational skills. You must have a knack of understanding consumer psychology and must be confident of your own decisions. You must also possess critical thinking skills and strong conceptual analysis. Expect the work schedule to be very hectic as the job itself is very responsible. These experiences will come up as a great help in the way of your becoming a research analyst. Remember that competition is very hectic in this sector. So, you have to work very hard to become a successful research associate or research analyst.
The average salary of a research associate is around $49,000 while that of a research analyst is around $68,000. With the right qualification and skill set, you can become a successful research associate and research analyst.
