An Industry Analyst is a person who performs any major and minor research, related to a firm associated with the Industry. These people assess area movement, fashion section categorization, project organization, and building up industry mock-up. Their work also involves study and consultative service organizations.
There are numerous top colleges and institutes such as KL University, Guntur, SRM University Delhi-NCR, Suresh Gyan Vihar University, Jaipur, Swami Vivekananda University, Kolkata and many more offering courses like BSc Statistics, BSc Mathematics, BBA Business Analytics, PG in Business Analytics and MBA in Data Analytics helping the students to become an Industry Analyst like.
The average course fees vary from INR 12,000 - 6,00,000 per year depending on the college or the institute.
Table of Contents
- How to Become an Industry Analyst: Quick Facts
- What does an Industry Analyst do
- Steps to Become an Industry Analyst
- Types Industry Analysts
- How to Become an Industry Analyst in India
5.1 How to Become an Industry Analyst After 12th
6.1 B.Sc in Mathematics / Statistics
7.1 How to Become an Industry Analyst in UK
7.2 How to Become an Industry Analyst in USA
How to Become an Industry Analyst: Quick Facts
| Admission Process | Many colleges or deemed academies carry out a centralized procedure for the admission B.sc. But there are some colleges which prefer conducting their own entrance tests or take admissions directly. |
| Courses Offered | Bachelor in Science in Statistics Bachelor in Science in mathematics BBA in Business Analytics Masters in Business Administration in Data Analytics |
| Eligibility | The candidates have to have a bachelor’s qualification in mathematics, computer science, statistics and market research. Masters in the subject mathematics and analytics, if a candidate wants to get assigned to a higher post. Analytical tool awareness like JIRA, GoodData, SAP Lumira and Google Analytics 360 Suite. |
| Job Prospects | Finance Analyst Market Research Analyst Stock Analyst Quantitative Analyst Stockbroker |
What does an Industry Analyst Do?
An Industry Analyst is a person having an entire access to the people’s investment plans so that they can suggest good and beneficial statistics based advice to improve the profits.
Mentioning below some major responsibilities of an Industry Analyst:
- They are responsible for carrying out surveys on different topics irrespective of types of consumers.
- Progressed expertise in the application of Bloomberg and Reuters.
- Aid in building up coworker’s Structured Query Language expertise which is very essential to manage statistics for the communication with databases.
- Rectify or free the SAS programs from bugs to scrutinize service development in the industry.
- They create and study the basic information and transform it by designing it into a new content theory or model according to the demand of the customers.
- Keeping a track on a daily basis of the market research by creating every day and month reports.
- They analyze the growth and development of the firm by obtaining data from the internal as well as external sources.
- The industry analyst has to administer all the multi-functional activities and send out the merchandise as per the discussed financial plan.
- They suggest and act upon altering the presented market research details.
Steps to Follow to Become an Industry Analyst
Below mentioned are few of the essential steps that needs to be followed to become an Industry Analyst,
STEP 1: A person should opt for being an Industry Analyst because it is a good career decision. This profession offers a lifetime education experience and concentrating on new tests to make available explanations to commercial issues.
STEPS 2: Candidates aspiring to become Industry Analysts have to pursue a certain specific course. Also they can apply for the same course by filling a common Application form.
STEP 3: An Industry Analyst has to be aware of the new trends prevailing in his field. He is always expected to possess good analytical expertise. There are some learning materials or books that can aid in attaining latest market approaches for an Industry Analyst
| Business and Competitive Analysis by Bensoussan and Fleisher | Competitive Strategy by Michael Porter | Modern Competitive study by Sharon M. Oster |
| Market study in Practice by Carol-Ann Morgan, Nicholas Hague, and Paul N. Hague | Approach and Competition by Joan Magretta and Michael Porter | - |
STEP 4: Appear for various entrance exams for the courses that are to be pursued. Some of the common Entrance Exams for B.Sc courses are
STEP 5: Admission process
Many colleges or deemed academies carry out a centralized procedure for the admission B.sc. But there are some colleges which prefer conducting their own entrance tests or take admissions directly.
In India, the procedure to get admission in the B.sc is three fold:
- Applying for the colleges through Centralized procedure.
- Applying through the entrance tests conducted by the colleges individually.
- Applying in the colleges where the students can get in through direct admission.
Types of Industry Analyst
A person working as an Industry Analyst also has different positions. The positions and the responsibilities may vary. For example; if a person is working as an IT Industry Analyst and is in charge of managing research for the possibility of development of the artifact of the company, he is also responsible for handing over proposal and guidance to the coworkers, which brings about an alteration in the present research report.
So here is the list of some specific job positions of an Industry Analyst:
- Finance Analyst: A Finance Analyst is a person who checks and puts forth the statistics that would help in finding new prospects for the business and also provide great guidance in the field of investment. The ones working at the junior level deal with collecting statistics, monetary representation, and database preservation. A bachelor’s degree with a MBA degree will help a person to get an opportunity of becoming a Financial Analyst.
- Market Research Analyst: A person who is a market research analyst is responsible for dealing with the records of customers and other rivals. These analysts are into the efficiency of the selling of the products and the service of these products. They are the ones assisting the product selling companies to understand the needs of the people and letting them know what they think is worth buying. The people working in this sector should be trustworthy, intrusive and work in a well-ordered fashion. The job outlook has recommended that Market Research Analyst is a good choice.
- Stock Analyst: A person working as stock analysts can also be referred as an Equity Analyst. They are responsible for both buying and selling of the organization offering the knowledge about the stocks. A person willing to take up being a stock Analyst as a career must be interested in studying about the data examination and should be able to solve the issues.
- Quantitative Analyst: These analysts are responsible to enhance and execute the mock ups of mathematics from which all the economy based organizations can take ideas to manage the dangers, deals and funding. Partly an investor, partly a pitiless thinker and an assistant hired to increase the ratio of success to risks. These analysts not only are involved financially in their work but also intellectually.
- Stockbroker: A stockbroker is a trading person who is hired to buy and sell the shares in the favor of a buyer. They are also referred to as legalized agents or an investment consultant. An Industry Analyst is a person having an entire access to the people’s investment plans so that they can suggest good and beneficial statistics based advice to improve the profits.
How to Become an Industry Analyst in India
Industry analysts are the ones appointed to manage the new fashion or trends running in the marketing area like technology, medicine related automobiles or economic services. They are also involved in firms related to banks, investment sectors or advisors.
The School level preparation for becoming an Industry Analyst:
- The candidate should pass out 10+2 with the main subject PCMB or PCM.
- If an aspirant picks the pathway of admission through entrance exams, they have to prepare well and in accordance with the syllabus published by the colleges.
- There are some skills that a candidate must possess at his or her school level so that they can qualify to become a good Industry analyst like:
- Systematic skills
- Skills of finding solution to problems
- Conversational skills
- Management skills
- Administrative skills
- Cooperation skills
- Vital contemplation skills
- The students must be taught these above mentioned skills to prepare them for becoming better Industry Analysts.
How to Become an Industry Analyst After 12th?
Mentioned below are few of the crucial points that must be followed to become a successful Industry Analyst,
Undergraduate Preparation
- A bachelor’s qualification in mathematics, computer science, statistics and market research.
- Mostly people take up the following courses for this career:
- Bachelor in Science in Statistics- Rs. 12,000 to Rs. 50,000
- Bachelor in Science in mathematics- Rs. 10,000 to Rs. 50,000
- BBA in Business Analytics- Rs. 35,000 to Rs. 00 lakh
Post Graduate Preparation
- Masters in the subject mathematics and analytics, to get assigned to higher post.
- Course to pursue is MBA in Data Analytics which is around Rs. 40,000 to Rs. 6.00 lakh.
- A master’s degree helps a student to grasp advanced education and learn more about the career Industry Analyst.
- They get the perspective of analytical tool awareness like JIRA, GoodData, SAP Lumira and Google Analytics 360 Suite.
Courses to Pursue to Become an Industry Analyst
Candidates aspiring to become Industry Analysts have to pursue a certain specific courses. Also they can apply for the same course by filling a common Application form. The fee varies from the government institution to the private institution. The fee structure might change with the year.
Bachelor in Science in Statistics / Mathematics
Admission process: Admission for any B.sc for any course follows the same admission procedure.
Many colleges or deemed academies carry out a centralized procedure for the admission B.sc. But there are some colleges which prefer conducting their own entrance tests or take admissions directly.
In India, the procedure to get admission in the B.sc is three fold:
- Applying for the colleges through Centralized procedure.
- Applying through the entrance tests conducted by the colleges individually.
- Applying in the colleges where the students can get in through direct admission.
Willing candidates are allowed access to the colleges or institution’s website, in favor for direct admissions. These institutes check for the marks obtained in the STD 12 score card.
Eligibility: A minimum of 40% or 45% score is necessary in STD 12 in the subjects PCMB.
BBA in Business Analytics
Admission Process: The process for the BBA in Business Analytics admission is direct. The colleges offer admission to the candidates based on the percentage scored in STD 12. The admission will be held in two rounds: an individual interview round and group debate round. But this process prevails for different colleges. For further details the candidates can access the official website of the colleges.
Eligibility: The eligibility criteria differ from college to college. The common eligibility criteria are:
- Students passed out their STD 12th from any acknowledged institution or school.
- Percentage scored must be 50%.
- Some colleges conduct their own separate entrance exam to select the candidates. Qualifying that particular exam is necessary for the admission.
MBA in Data Analytics
Admission Process: Admission process is held in two ways, i.e. through merit as well as through entrance exams. However, the majority of the colleges grant admission through entrance exams such as CAT, MAT, XAT, NMAT etc.Eligibility: The eligibility criteria for pursuing an MBA in Data Analytics are listed below for your reference,
- Bachelor’s degree with 40% to 50% or equal CGPA.
- 5% reduction for OBC/SC/ST category like the percentage will be 40% to 45%.
- Graduation in the subjects Mathematics, Science, Physics, Engineering, or whichever new subject associated with data analytics.
How to Become an Industry Analyst Abroad?
If a student is aiming to become a successful Industry Analyst internationally, they have to pay attention to the study level and degree to achieve. In the abroad countries, there are more people with only a bachelor's degree and around 14% with a master’s qualification. Abroad can also become an Industry Analyst after his or her completion of higher secondary education. Other than the bachelor’s and master’s degree there are other courses like an associate degree or a diploma to become an Industry Analyst.
The person applying abroad should always be fairly acquainted with the native language spoken be it UK, US, Australia and Canada. The common language spoken in every place is English. To learn, understand and speak English is really necessary.
The visa application is a necessity for the aspirants who seek to work as an Industry Analyst internationally.
Skills as an International Industry Analyst, a person should possess:
- Maintaining the fixed standards.
- Should be able to produce monetary reports about all the assets, investments and the input from the stakeholders.
- Maintain the team in the business department.
- They should also have to solve trade issues.
- Data analyzing and management
The standard salary of the international Industry Analyst is about 60,000 dollars yearly.
How to Become an Industry Analyst in UK
- There are around 8 colleges that allow admission in Masters for international students to take the course for Industry Analysts and around 49 colleges for Bachelor’s courses.
- Every year about 60% of international students get admission to a college in the United Kingdom.
- The courses available that can be pursued are B.Sc in Statistics or B.Sc in Mathematics or MBA in Data Analytics
- Job prospects: As an Industry Analyst, the person gets appointed to work inside an Organization, assisting in supervising, altering and preparing for their objectives. They can work as:
- Project analyst
- Supervision consultant
- Development analyst
- Merchandise manager
- Systems analyst
- Salary of an Industry Analyst varies from £21,000 a year in Indian Currency it varies from Rs. 21, 51,585.95. a year
Top Colleges for MBA
| Name of the Colleges | Average Fees (INR) |
|---|---|
| University Of Greenwich | 2080684 |
| University Of Birmingham | 3235823 |
| London South Bank University | 1967938 |
| Liverpool Hope University | 1455454 |
Top Colleges for B.Sc
| Name of the Colleges | Average Fees (INR) |
|---|---|
| University Of Leeds | 2757163 |
| School Of Business And Economics, Loughborough University | 2582918 |
| University Of Exeter Business School | 2357426 |
| Aston Business School | 2078634 |
How to Become an Industry Analyst in USA
- There are around 5 colleges that allow admission in Masters for international students to take the course for Industry Analysts and around 8 colleges for Bachelor’s courses.
- Every year about 60% of international students get admission to a college in the United States of America.
- The courses that are available and can be pursued are B.Sc Statistics and MBA in Data Analytics
- Job Prospects: Post completing the course an Industry Analyst can work as Finance Analyst, Market Research Analyst, Stock Analyst, Quantitative Analyst or a Stockbroker
- Salary here of an Industry Analyst varies from $77,198 a year which in Indian currency is Rs. 57,80,539.92
Top Colleges for MBA
| Name of the Colleges | Average Fees (INR) |
|---|---|
| The University Of Chicago | 5390334 |
| University Of Pennsylvania | 6091826 |
| University Of Akron | 1263733 |
| Baruch College | 2425650 |
| University Of Chicago Booth School Of Business | 5390334 |
Top Colleges for B.Sc
| Name of the Colleges | Average Fees (INR) |
|---|---|
| University Of Bridgeport | 2460088 |
| University Of Pittsburgh | 2444815 |
| University Of Bridgeport | 2463083 |
| New York University Tandon School Of Engineering | 2071235 |
| Weber State University | 1219338 |
How to Become an Industry Analyst in Canada
- There are around 41 colleges that allow admission in Masters for international students to take the course for Industry Analysts and around 8 colleges for Bachelor’s courses.
- Every year about 70% of international students get admission in the college of Canada.
- The courses available are B.Sc Statistics and Mathematics and MBA in Data Analytics
- Some of the top job prospects post completing the course are Senior Analyst, Manufacturing Execution Systems (MES) Business Analyst, Senior Associate Credit Analyst
- The average salary ranges between INR 25 - 30 LPA
Top Colleges for MBA
| Name of the Colleges | Average Salary (INR) |
|---|---|
| University Of Toronto | 2957402 |
| The University Of British Columbia | 3975476 |
| McGill University | 4670818 |
| University Of Montreal | 2156439 |
Top Colleges for BSc
| Name of the Colleges | Average Fees (INR) |
|---|---|
| University Of Toronto | 2675745 |
| The University Of British Columbia | 1889451 |
| McGill University | 792161 |
| Queen's University | 1067951 |
How to Become an Industry Analyst in Australia
- There are around 28 colleges that allow admission in Masters for international students to take the course for Industry Analysts and around 5 colleges for Bachelor’s courses.
- Every year about 60% of international students get admission in the colleges of Australia.
- The courses available are B.Sc Mathematics or BSc Statistics and MBA in Data Analytics
- Some of the top job prospects Research Analyst, Industry Analyst, Equity Research Analyst etc
- The average salary is Rs. 3191985.7
Top Colleges for MBA
| Name of the Colleges | Average Fees (INR) |
|---|---|
| Australian National University | 1813128 |
| University Of Melbourne | 1868072 |
| University Of New South Wales | 3184513 |
| University Of Queensland | 3063473 |
| Monash University | 1668078 |
Top Colleges for Bsc
| Name of the Colleges | Average Fees (INR) |
|---|---|
| Macquarie University | 2065867 |
| UTS | 2252675 |
| RMIT University | 1901038 |
| University Of Southern Queensland | 879092 |
Benefits of Becoming an Industry Analyst
Mentioned below are few of the benefits of working as an Industry Analyst for your reference,
- The salary scale is quite good.
- There are various job roles as an Industry Analyst with great scope in the work area.
- The person who works as an Industry Analyst always stays updated with current market development.
- The people who like working indoors can pursue this profession.
Skills Required to Become an Industry Analyst
An Industry Analyst must possess some skill sets that are tabulated below for your reference,
| Systematic Skills | Problem Solving Skills | Communication Skills |
| Managerial Skills | Administrative Skills | Vital Contemplation Skills |
Salary of an Industry Analyst
The average salary of an Industry Analyst in mentioned below along with the various segregations and their average salary expectancy
Sector Wise Salary
| Sector | Average Salary (INR) |
|---|---|
| Government | 5,00,000 |
| Private | 11,89,000 |
Designation Wise Salary
| Job Profiles | Average Salary (INR) |
|---|---|
| Finance Analyst | 5,00,000 |
| Market Research Analyst | 4,42,934 |
| Stock Analyst | 7,70,781 |
| Quantitative Analyst | 9,24,000 |
| Stockbroker | 2,48,538 |
Gender Wise Salary
| Gender | Average Salary (INR) |
|---|---|
| Male | 8,97,750 |
| Female | 7,16,000 |
Experience Wise Salary
| Work Experience | Salary (INR) |
|---|---|
| Fresher | 6,39,000 |
| Experienced | 15,10,000 |
How to Become an Industry Analyst: FAQs
Ques. In which company an Industry Analyst can apply for job?
Ans. An industry Analyst can apply for job in the banking sector, market research firms or investment sectors.
Ques. What is standard salary of an Industry Analyst?
Ans. The average salary of an Industry Analyst depends on knowledge and skills. A new worker can bring in up to Rs. 3 lakh / annum.
Ques. What is the advantage of being an Industry Analyst?
Ans. A person can earn a fine-looking salary package and career as an Industry Analyst will aid in appreciating in progress market trends.
Ques. What are the courses can be pursued to become an Industry Analyst?
Ans. There are courses like BBA in Business Analytics and MBA in Data Analytics, which a person can pursue.
Ques. What are the skill set required by an Industry Analyst?
Ans. There are skills like Systematic skills, Skills of finding solution to problems, Conversational skills, Management skills, Administrative skills, Cooperation skills and vital contemplation skills, which a person shall possess.
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