How To Become An Industry Analyst: Career Guide, Courses, Scopes, Jobs, Salary

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-NCRSuresh Gyan Vihar University, Jaipur, Swami Vivekananda University, Kolkata and many more offering courses like BSc StatisticsBSc 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. 

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 

BHU UET NEST IISER Aptitude Test
GSAT PUBDET IPU CET

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

Top Colleges for B.Sc 

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
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.

Master of Science [M.Sc] (Applied Mathematics) : 18 answered questions

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Ques. Should I go for M.Math program at ISI Kolkata?

● Top Answer By Ritwik Patnayak on 16 Sept 21

Ans. M.Math is quite thorough in different ways, it is best not to end up opting for it without vital information. As a brief interpretation, you really do not require programming skills to further opt for the M.Math course.  A very intensive knowledge of linear algebra, real analysis, and basic abstract algebra is required prior to joining the M.Math course. Despite that, the course is very challenging.  The academic background does not necessarily affect the course you are about to take up. There are students who arrive from an engineering background.  It is best to go through the coursework of Mathematics and decide whether or not you are inclined towards it or not.  M.Math students usually secure placements at a variety of companies, but achieving that howsoever is extremely difficult. Thus, choose only if you are confident. Read more
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Ques. What's the reputation of the South Asian University in Delhi for an MSc in applied mathematics?

● Top Answer By Suhani Kashyap on 23 Jun 21

Ans. South Asian University is a central funded government university. According to my friend studying there, It is not only an exceptional university in India but only one among the records of international universities in the world. This international university was established by a member of the SAARC. It was a dream project of Dr. Man Mohan Singh which he had proposed in the 13th SAARC summit held in Dhaka. It was later in the 14th summit that the establishment of this university was decided to be held in India. It provides courses of Applied Math, Biotechnology, Computer Science, Development Economics, International relations, Sociology, and Legal Studies. Its permanent campus is under construction in Maidan Garhi, Delhi while being operated from Akbar Bhawan, Chanakyapuri. SAARC consists of 8 countries which are India, Afghanistan, Bangladesh, Bhutan, Maldives, Nepal, Pakistan, and Sri Lanka. Therefore, the degree given by the university is recognized by the UGC of all 8 countries. The tag of SAARC attached would benefit your career in foreign countries as well. SAU has its own limitations as it is a new university. SAU is yet to be known among the scholarly and creating its name. Due to its less popularity, the entrance competition is not very tough. However, students prefer IITs, DU, and JNU for their post-graduate studies ignoring the high-level facilities provided at SAU.Read more
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Ques. Should I opt for an M. Sc. Math course in BITS Pilani?

● Top Answer By Trina Saha on 22 Jul 21

Ans. You are perhaps going for one of the most difficult streams of M.Sc, which is, of course, Maths. Few of my friends are studying there and as they have mentioned, by the time you reach your third year, one of the subjects in Maths would have a good number of theorems. The next thing you would have is coordinate geometry as a part of your Maths 1. This would come in handy while solving double/triple integrations. However, this is still the base of things. It gets complicated ahead- although, not sure if that would be in the third year essentially. Perhaps for better clarity, you should try and reach out to someone who is actually doing his/her M.Sc from BITS Pilani Now, when it comes to application and coding Mathematics, the wisest combination to opt for is M.Sc Maths along with CS. By the time you become a pro at coding, these math concepts wherein you studied geometry might come in handy for the applications that you would use. Try and sustain a CGPA of 8+, if you are genuinely serious about carrying along with CS as a second subject option. My friends mentioned that students who are carrying along two degrees at the same time have CS as their ultimate aim. There were a few friends of mine who with a double degree, either ended up slogging into semesters, achieved CS with hardly any effort, and eventually, some of them had to choose chemical/civil out of sheer compulsion.Read more
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Ques. How is the integrated MSc at BIT Mesra?

● Top Answer By Arun Biswas on 12 Apr 23

Ans. If you are interested in pursuing a career in research, the integrated MSc program offered by BIT Mesra is a great option to consider. Here are some key points to keep in mind: The program offers a comprehensive curriculum that covers a wide range of topics in mathematics, computing, physics, chemistry, and food technology. This provides students with a strong foundation in the fundamentals of science and prepares them for advanced study and research. One of the unique features of the program is that it offers an exit option after the third year , allowing students to leave with a BSc degree if they choose to do so. This is not available at many other colleges and can be helpful for those who may want to pursue other options after completing their undergraduate studies. If you choose to continue with the program and complete the full five-year integrated MSc, you will have the opportunity to specialize in mathematics and computing , which is equivalent to a computer science degree. This specialization can be particularly useful if you are interested in pursuing a career in software development or data science. While placements should not be the primary focus of a science degree, the mathematics and computing specialization at BIT Mesra has a good placement record . Students who work hard and excel in their studies can expect to have job opportunities available to them after graduation. The Integrated MSc program at BIT Mesra is a rigorous and demanding course of study. It requires a strong commitment to hard work and dedication to succeed. However, for those who are passionate about science and research, it can be a highly rewarding and fulfilling experience.Read more
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Ques. Will SBI Bank give a education loan to a student of MSc Maths at Bits Goa?

● Top Answer By Vatsal Mishra on 09 Aug 21

Ans. Yes, SBI will give you an education loan irrespective of your choice of course. Most importantly, it is not important whether you are a student or not at BITS Goa. SBI offers loans to all students studying in famous and recognized colleges.  Usually, education loans are provided mostly for Professional courses at post-graduation level. You must check whether BITS Goa is listed or not. You can do so by visiting the nearest SBI Branch. Getting an education loan in BITS Goa isn't that tough. The loan will be sanctioned without any obstacles.Read more
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