There are four steps required to become a market analyst: post-secondary training, related work experience, apply for a job, and complete the job interview process. A market analyst spends the majority of her day reviewing the movements of all the stocks and financial instruments listed available for trade. Market analysts are focused primarily on the activity of the stock market, but this may be expanded to include the financial and bond markets.
People who enjoy working independently, are detail-oriented, and are interested in financial markets find this type of job interesting. The most important skill required for a market analyst is the ability to remember large volumes of data and relate it back to a larger trend. For example, the market analyst is expected to inform the traders and management of the best possible training activity and timing.
The first requirement to become a market analyst is to complete a post-secondary education program. A university degree in finance, commerce, accounting, or business is a requirement for this type of role. Increasingly, advanced degrees are required for these roles. The ability to maintain an independent, unbiased opinion in a very profit-driven sector is critical to your success in this role.
Related work experience includes working in the stock market, as a financial adviser, pension analyst, or market research reporter. This type of role is most suitable for someone with at least seven years post-graduate working experience. These programs do not normally offer a cooperative or internship term.
When applying for a job to become a market analyst, be sure to proofread your resume and cover letter, double checking for any grammar or spelling mistakes. It is becoming increasingly common for financial investment firms to require a credit and criminal records check as part of the application process. Keep this in mind when applying.
During the job interview process, most employers have a standard list of questions and are looking for complete, concise responses. Keep in mind that everything you say will be written down and reviewed. Think about your answers, stay calm, and focus on the skills you bring and how you can contribute. Many people go to several interviews before they can become a market analyst.
In order to advance your career to a management or supervisory level, additional formal training is usually required. This often include a master's in business administration (MBA) or finance. Many people remain as an analyst for their entire careers, making lateral position changes to keep their work varied and interesting. Talk to your human resources manager about the career options available to you within the firm.