Career Definition of a Buy Side Analyst
Buy side analysts are financial analysts who focus on working for companies. They deal with large amounts of money that are being invested to earn revenue. In order to be effective in their role they must meet with clients and assess their investment goals and the funds they have for investments. They evaluate investment opportunities. In order to do this they may conduct research on companies and economic factors that may impact the performance of investment options.
It is their job to recommend investment opportunities to their clients. They may recommend that they purchase things like stocks or they may recommend that they buy shares in a company. They must maintain confidentiality for their clients and they may also play a role in purchasing the investments for their clients. In some cases, buy side analysts may work specifically for one company and handle their investment portfolio exclusively.
|Educational Requirements||Bachelor's degree|
|Job Skills||Attention to detail, ability to meet deadlines, ability to work under pressure, research skills, analytical skills, mathematical skills, communication skills, computer skills|
|Median Salary (2019)*||$85,660 (financial analysts)|
|Job Outlook (2018-2028)*||6% (financial analysts)|
Source: *U.S. Bureau of Labor Statistics
Buy side analysts are required to have a bachelor's degree to work in their field. They may opt to major in accounting or may focus on earning a degree in a comparable subject, such as finance. Once they have earned a degree and gained practical work experience they may opt to pursue certification such as the Chartered Financial Analyst (CFA) certification. Those that are interested in advancement opportunities may also benefit from earning a master's degree in business administration or a comparable discipline.
Buy side analysts must be able to locate relevant information that they use to develop recommendations so they need to have good research skills. Attention to detail is important because they are also required to review large amounts of financial and business data. They use analytical skills to assess the data that they collect. Since they work with large amounts of money they need to be comfortable working under pressure and they must also be able to meet deadlines so that they can secure investment opportunities at the optimal time.
Career Outlook and Salary
Buy side analysts are grouped with financial analysts by the U.S. Bureau of Labor Statistics (BLS). While the BLS expects an average job growth rate of 5% for all occupations from 2018 to 2028, it projects that the job growth rate will be the same for financial analysts. The BLS expects job increases of 11% in this career field. As of 2019, the BLS reported that financial analysts earned a median income of $85,660 per year.
If a career as a buy side analyst sounds appealing, there are a number of other careers in the financial sector that may also be worth exploring. The links listed here lead to information about the work that investment bankers, financial advisors and financial service representatives do.