What Does a Junior Analyst Do?

Junior analysts are entry-level employees in the business world who work with more senior members of their organization to support a variety of tasks. They may be tasked with gathering and analyzing data, creating reports or presentations, or assisting with other projects as needed.

Junior analysts commonly have little to no experience in their field when they begin this type of employment. However, they must be able to quickly learn new skills and adapt to changing demands on the job.

Junior Analyst Job Duties

Junior analysts typically have a wide range of responsibilities, which can include:

• Reviewing reports from internal clients or external customers to identify issues or concerns that could be addressed by modifying existing processes or developing new processes
• Supporting senior analysts by conducting research, preparing reports, and assisting with client meetings
• Preparing presentations on research findings or other topics based on data analysis to managers or clients
• Communicating with clients to clarify information or gather additional data when needed
• Conducting audits of company records to ensure that processes are being followed correctly
• Analyzing data to identify trends and patterns in order to make recommendations for improvement
• Recommending changes to existing policies based on research findings
• Analyzing data from various sources to identify potential problems or opportunities for improvement
• Communicating with other departments within a company to gather information about new products or potential risks

Junior Analyst Salary & Outlook

Junior analysts’ salaries vary depending on their level of education, years of experience, and the company size and industry. They may also earn additional compensation in the form of bonuses.

• Median Annual Salary: $62,500 ($30.05/hour)
• Top 10% Annual Salary: $80,500 ($38.7/hour)

The employment of junior analysts is expected to grow at an average rate over the next decade.

Employment growth will be driven by the continued need for investment advice as more people seek help with their retirement planning and other financial decisions. However, the increasing complexity of financial products and services may limit the demand for junior analysts.

Related: Junior Analyst Interview Questions and Answers

Junior Analyst Job Requirements

Junior analysts typically need to have the following background:

Education: Junior analysts are typically required to have a bachelor’s degree in a field such as finance, accounting or business. Some companies may hire candidates who have a related master’s degree, such as a Master of Business Administration (MBA).

Many junior analysts also have a relevant master’s degree in finance, accounting or business. These master’s degrees can help junior analysts advance their careers and increase their earning potential.

Training & Experience: Junior analysts typically receive on-the-job training from their supervisors or other senior analysts. This training can last for a few weeks or months, depending on the company and the junior analyst’s experience. During this training, the junior analyst will learn about the company’s policies and procedures, the software they use and the specific tasks they perform. They will also learn about the company’s culture and how to interact with their colleagues.

Certifications & Licenses: Although junior analysts don’t need certifications or licenses, they can earn them to demonstrate their dedication to their profession and increase the likelihood of earning higher-paying positions.

Junior Analyst Skills

Junior analysts need the following skills in order to be successful:

Communication: Communication is another skill that can help you succeed as a junior analyst. You may be required to communicate with other members of your team, clients and other individuals. Strong communication skills can help you convey information clearly and answer questions effectively.

Data analysis: Data analysis is the ability to interpret data and draw conclusions from it. Junior analysts often work with large amounts of data, so it’s important for them to be able to understand the data and use it to make decisions.

Critical thinking: Critical thinking is the ability to analyze information and make decisions based on the information you have. Junior analysts need to be able to make decisions about the data they analyze and the conclusions they make based on that data.

Problem-solving: Junior analysts often work on projects that are new to the company, so they need to be able to identify problems and find solutions. This can include identifying issues with a product or service and finding ways to improve it. It can also mean identifying issues with a project’s budget and finding ways to cut costs.

Teamwork: Junior analysts often work with other team members, including senior analysts, managers and other junior analysts. Being able to work well with others is an important skill for junior analysts to have.

Junior Analyst Work Environment

Junior analysts typically work in the investment banking industry in the research department of a bank. They work long hours, often more than 60 hours per week, and may be required to work on weekends. The work is very demanding and stressful, and junior analysts must be able to handle large amounts of pressure and work well under pressure. They must be able to think quickly and make decisions quickly, as well as have excellent analytical and mathematical skills. Junior analysts typically have a bachelor’s degree in business, economics, or a related field.

Junior Analyst Trends

Here are three trends influencing how junior analysts work. Junior analysts will need to stay up-to-date on these developments to keep their skills relevant and maintain a competitive advantage in the workplace.

The Need for More Technical Talent

The need for more technical talent is a trend that is being driven by the increasing complexity of business. In order to keep up with this complexity, businesses are looking for employees who have strong technical skills.

This trend is having a significant impact on the job market, as employers are increasingly looking for candidates with experience in areas such as data analytics, cloud computing, and software development. As a result, junior analysts will need to develop these skills in order to be competitive in the job market.

More Focus on Data Quality

As data becomes more important in business, there is an increasing focus on ensuring that it is accurate and reliable. This means that junior analysts will need to focus on data quality in order to ensure that their reports are accurate and useful.

In order to meet the demands of this trend, junior analysts will need to develop skills in data cleaning and data validation. They will also need to be able to identify potential problems with data and suggest solutions for them.

Data Science Becomes a More Important Skill

As data science becomes a more important skill, junior analysts will need to learn how to use data to make decisions.

This trend is especially important in industries where data is becoming more prevalent, such as finance and healthcare. By understanding how to use data to make decisions, junior analysts can make better decisions about which products to sell or which treatments to recommend.

How to Become a Junior Analyst

A Junior Analyst career path can be a great way to get your foot in the door of the business world. As a Junior Analyst, you’ll have the opportunity to work on a variety of projects and learn from more experienced professionals. You’ll also gain valuable experience that will help you move up the ladder later in your career.

To succeed as a Junior Analyst, it’s important to be willing to take on new challenges and learn new things. You should also be able to work independently and be comfortable with change.

Advancement Prospects

Junior analysts typically start out in entry-level positions, working under the supervision of more experienced analysts. As they gain experience and knowledge, they are given more responsibility and may be promoted to senior analyst positions.

Those who are particularly skilled at analyzing data may be promoted to management positions, such as research director or marketing manager. Some junior analysts may eventually become independent consultants.

Junior Analyst Job Description Example

As a Junior Analyst at [CompanyX], you will be working with large data sets to find trends and insights that will help our clients make better business decisions. You will be responsible for cleaning, manipulating, and analyzing data, as well as creating reports and presentations to communicate your findings. The ideal candidate will have strong analytical and problem-solving skills, as well as the ability to work independently and take initiative. If you are a quick learner with a passion for data, we want you on our team!

Duties & Responsibilities

• Understand and document business requirements, processes, and workflows
• Conduct data analysis to support decision making and process improvements
• Design and develop reporting solutions (e.g., dashboards, scorecards) to help track progress and KPIs
• Maintain and improve existing reporting solutions
• Help develop and maintain data quality standards
• Perform data cleansing and data mining tasks as needed
• Assist in the development and maintenance of data warehouses and ETL processes
• Understand and utilize relational databases (e.g., SQL Server, Oracle)
• Understand and utilize BI tools (e.g., Tableau, QlikView, Power BI)
• Understand and utilize statistical analysis software (e.g., R, SAS, SPSS)
• Understand and utilize Excel for data analysis
• Understand and utilize PowerPoint for presentation purposes

Required Skills and Qualifications

• Bachelor’s degree in business, economics, finance, or related field
• 1-3 years professional experience in an analytical role
• Exceptional mathematical skills and statistical analysis abilities
• Strong Excel skills; proficiency in other data analysis software a plus
• Excellent written and verbal communication skills
• Detail-oriented with excellent organizational skills

Preferred Skills and Qualifications

• MBA or other advanced degree
• Experience in the financial services industry
• Programming skills in SQL, VBA, Python, R, or similar
• Experience with big data platforms such as Hadoop or Spark