How to become a Corporate Analyst?

Corporate Analysts are entrusted with the responsibility of making informed business decisions for an organization. They perform this role by thoroughly evaluating the overall performance and financial data of a company and extracting valuable insights for necessary improvements. Corporate analysts are also known as financial analysts and business analysts. If this career interests you, this blog will help throw light on the Corporate Analyst career path and the exact requirements for becoming one.

What is a Corporate Analyst?

As stated above, Corporate Analysts are involved in assisting a company improve its productivity and financial stability. They can do this by analyzing market trends, and business data, and preparing reports and models. Corporate analysts also offer financial support and assistance to the management. 

They generally work in financial institutions, large corporations, consulting firms, and other similar places that need a detailed analysis of a company’s finances and operations. 

How to become a Corporate Analyst?

Deciding to take the career path of a Corporate Analyst is one that requires an ideal combination of the right education, relevant professional experience, and the right skill set. Listed below are the exact steps to become a Corporate Analyst in India:

1. Get the right education: A Bachelor’s degree in a related domain such as accounting, economics, finance, or business administration is ideal to start your academic journey on the corporate analyst career path. 

You may choose to follow up your Bachelor’s with an optional Master’s degree in finance or an MBA that can help gain deeper insights into financial and business analysis and boost your career prospects. 

2. Build the right skillset: The career trajectory of a corporate analyst requires them to possess some specialized relevant skills in the domain. Some of them include technical skills in financial analysis software like SAS and Bloomberg, software tools like MS Excel, and knowledge of programming languages like Python or SQL.

A few other good-to-have skills for corporate analysts include analytical skills, problem-solving ability, financial modeling skills, and effective communication.

3. Earn the relevant work experience: Enter into internships or entry-level roles in the domains of accounting, finance, and business analysis. This will help you gain sufficient practical experience in the field for future career growth.

4. Upskill yourself: Once you start working in the role of a Corporate Analyst, it helps to keep upskilling yourself in the domain by earning professional certifications in the domain. Some of the top ones include CPA, FMVA, CFA, and CMA. 

5. Network: Networking is an important step in this career path. Make sure to join professional bodies such as the ICAI, CFA Institute, or local financial analyst societies. Look out for mentors who can help guide you on your career trajectory and seek guidance and assistance from them. Also be on the lookout for workshops, industry events, and seminars.

Skills needed for Corporate Analyst

In addition to meeting the required Corporate Analyst qualifications, you must also have certain specialized skills to chart out a career path in this role. Some of the top skills defined for Corporate Analysts are explained below:

• Technical skills: These are the most important prerequisites for Corporate Analysts, requiring them to have sound knowledge of financial modeling, data analysis, accounting, and financial software tools. 

• Effective communication skills: This includes both verbal and written communication that can break down complex financial data into easy-to-understand concepts for an audience with a non-financial background.

• Problem-solving skills: Corporate analysts must be able to identify potential problems in a company’s financial and operational areas and offer creative and innovative solutions for overall improvement and growth.

• Analytical skills: Attention to detail, critical thinking, and quantitative analysis are key skills here, enabling Corporate Analysts to display precision in their work.

Roles & responsibilities of Corporate Analyst

Corporate analysts are expected to handle a multitude of tasks in an organization, some of which are defined below for better understanding. The table below lists the top Corporate Analyst job roles and the responsibilities that they are expected to assume as part of their role:

Corporate Analyst salary in India

The salary of a Corporate Analyst in India differs depending on several factors, such as the reputation of the company, its size, and location. The potential market value of a candidate is likely to be higher depending on their academic background and work experience as well.   

The average annual salary of a Corporate Analyst in India is estimated at INR 11,66,353 per annum. The figures are indicative only and are likely to vary as per qualifications, skills, and experience from one organization to the other.

Conclusion

The role of a Corporate Analyst demands huge responsibility and also holds immense value for professionals. Equal value is added to the organization they work for, adding their expertise and skills in the process. 

This blog highlighted the immediate first steps that you can take to embark on a career path as a Corporate Analyst. Pursuing a degree in the field of commerce can help in this direction. Sikkim Manipal University offers online BCom and MCom courses on the Online Manipal platform, offering convenience and flexibility in learning to students. Graduates in these courses can then opt for rewarding careers in the role of a Corporate Analyst at different financial institutions and similar organizations.