What does an analyst do?
Analysts work in offices gathering and interpreting the performance statistics of a company and other relevant information. These professionals take this data and revise it into graphs, workflows, and charts to help the management and department heads understand the company data better. Business analysts utilize current statistics and indicators to identify improvement areas regarding the company's financial status, efficiency, and performance. They will then recommend new operational processes or business strategies and present them to company management. After implementing the recommended plans, the analysts will measure their progress to discover more ways to improve them.View Roles
What is the average salary of an analyst?
The median yearly salary for analysts in May 2021 was $93,000, according to the United States Bureau of Labor Statistics (BLS). The highest 10% received over $163,760, and the lowest 10% took home less than $50,190. Also, the average yearly salaries for analysts in the top industries in the U.S. ranged between $81,090 and $100,170. Self-employed analysts receive salaries directly from their clients, and the pay rate is either by the project or the hour. Analysts working full-time for consulting companies get a base salary and a bonus at the end of the year. As a professional analyst, your salary will depend on different factors, such as your work experience, qualifications, and location.
Analyst job Description
An analyst is responsible for gathering, interpreting, and using complex data to create useful information that will enhance company processes. In this position, you'll take loads of data, break it down into manageable and useful parts, and subsequently present your findings to the company executives to help them develop and implement strategic plans. As a professional analyst, you'll need to evaluate clients' needs and utilize research, detailed analysis, and testing to deliver useful information. During analysis, you'll use different tools to ensure your work is accurate and more efficient. This profession is suitable for team players and self-motivated people who are good with numbers and details.
What is the career outlook for an analyst?
According to the BLS, analysts’ job opportunities will grow by around 14% between 2020 and 2030. Over the decade, more than 124,400 new opportunities will open up each year. Many organizations and businesses are increasingly embracing and implementing big data analytics, significantly contributing to this growth. Besides, the demand for experienced analysts with expertise and relevant skills to change company data into useful info is also growing as big data evolves. As you gain more experience in your position, you'll get better opportunities to advance your career in various ways. You can move to consultancy, management, or your preferred data-related specialization, such as visualization, infrastructure, or mining.
What are the advantages of working with Spherion as an analyst?
Many job seekers usually struggle with finding the right connections they require to secure their dream jobs. However, working with Spherion can make things easier during your job search. The agency is familiar with the best companies and their hiring managers, which provides significant advantages. Finding your analyst position through Spherion provides important benefits, such as:
- Weekly payments
- Temporary and permanent positions
- A wide variety of career development and training opportunities
- Many sought-after opportunities in your local area
- Experienced contact persons to assist if needed
- Smooth interviewing processes
What education do you need as an analyst?
You need at least a bachelor's degree in mathematics or computer science to apply for an analyst position. Other fields acceptable in this position include information management, statistics, and economics. However, some corporations prefer applicants with postgraduate degrees in relevant fields like mathematics, computer science, or even engineering to fill senior positions. Entry-level analysts can secure positions without previous experience. Nonetheless, you'll need on-the-job training. The training will help you familiarize yourself with the policies and procedures of your company and teach you ways to apply your knowledge and expertise to the business environment. Since data analysis is an extremely dynamic field, applicants should remain up to date with the current data mining tools and trends.
Skills & competencies
Apart from academic qualifications, you need accreditations to appeal to prospective employers and to increase your chances of job promotion. Some of the desirable certifications you can pursue include Agile Analysis Certification (AAC), Certified Business Analysis Professional (CBAP), and Professional in Business Analysis (PBA). Analysts also need basic skills to execute their job duties. Some of the common skills you need to succeed in this position include:
- Strong written and oral communication skills
- Proficiency in mathematics and statistics
- Attention to detail
- Critical thinking skills
- Report presentation and writing skills
- Leadership capabilities
- Strong analytical skills
- Proficiency with computer systems and statistical software
- Outstanding organizational skills
- Team working skills
Analysts play a major role in helping organizations and corporations make informed and better decisions that propel business growth. If you are considering a career as an analyst, the following frequently asked questions will help you learn more about this profession.