How do I become a commodity market research analyst? (2024)

How do I become a commodity market research analyst?

How to Become a Commodity Analyst. Beginning a career as a commodity analyst requires you have some formal qualifications and education, typically at least a bachelor's degree in finance or a closely related field. Upon graduation, you must obtain licensure from the Financial Industry Regulatory Authority (FINRA).

What are the qualifications of a market research analyst?

Market research analysts typically need a bachelor's degree in market research or a related business, communications, or social science field. Courses in statistics, research methods, and marketing are important for prospective analysts.

What is a commodity research analyst?

Commodity analysts are professionals tasked with the crucial responsibility of dissecting, understanding, and predicting trends in various commodity markets.

How long does it take to become a market research analyst?

Market research analyst jobs typically require a bachelor's degree and two or three years of experience. More senior-level market research analyst jobs may require a master's degree. Majors that can prepare you for a job as a market research analyst: Business administration.

What is the salary of commodity research?

If we look at the Commodity analyst salary statistics in United Kingdom as of April 10, 2024, the represented employee makes £87,824; to be more precise pay rate is £7,319 per month, £1,689 per week, or £43.39 per hour.

How to become a market research analyst with no experience?

Another way to qualify as a market research analyst is to gain relevant experience and build a portfolio of your work. You can look for internships, entry-level jobs, or freelance projects that involve market research tasks, such as conducting surveys, analyzing data, or writing reports.

Can I be market researcher without a degree?

The skills needed to become a market research analyst

A combination of relevant work experience and the right education can aid you in obtaining a market research analyst role. While most hiring managers require a bachelor's degree for this position, a master's degree may be preferred.

How can I study commodity market?

Both fundamental and technical analysis are used to study commodity markets. Fundamentals, or supply/demand factors, tend to provide underlying reason to the market. Technical analysis is used to provide an indication of price trend, and an estimate of the timing and magnitude of price change.

How much does a Citi commodities analyst make?

$107K (Median Total Pay)

The estimated total pay range for a Commodities Analyst at Citi is $85K–$136K per year, which includes base salary and additional pay.

What is the career path of a commodity analyst?

As a commodity analyst, you have a wide range of career options. You can move into a purchasing manager role, where you'll oversee the procurement process and negotiate contracts. You could also become a director of purchasing, managing multiple departments and ensuring supply chain efficiency.

How do I start a career in market research?

Is it hard to be a market research analyst?

Data collection and analysis can be complex and time-consuming. Market researchers need to be able to collect data from a variety of sources, including surveys, interviews, focus groups, and social media.

Is market research a high paying job?

The median annual salary for market research analysts was $63,920 as of May 2021, according to the U.S. Bureau of Labor Statistics (BLS). The top 10% of earners made roughly double the median, with a salary of $128,320.

How much does a commodity analyst make at Goldman Sachs?

$228K (Median Total Pay)

The average Senior Commodity Research Analyst base salary at Goldman Sachs is $191K per year.

What commodity makes the most money?

1. Crude oil: Brent crude. Crude oil is one the world's most in-demand commodities as it can be refined into products including petrol, diesel and lubricants, along with many petrochemicals that are used to make plastics.

Can you make money in commodity market?

Day trading commodity futures – because of the leverage available which makes even small price fluctuations significant as far as potential profits or losses on any given day – do indeed offer tremendous opportunities for profits.

What are the disadvantages of being a market research analyst?

In addition to financial expenses, conducting market research often requires time to complete. The research process involves multiple stages, and it can take time to determine the most important research questions to ask, develop a plan to gather data for each and then collect and process the data to find results.

What is the difference between a marketing analyst and a market research analyst?

Market research analysts have a more narrow focus than marketing analysts, concentrating specifically (and perhaps unsurprisingly) on market research. This might mean understanding trends in specific markets, or predicting prices, wages, and other economic indicators.

What is the difference between a market researcher and a market research analyst?

Market researchers – also known as research analysts or market analysts – gather, organize and interpret data that businesses use to make critical decisions. They may work as freelance consultants or company employees.

Are market research analysts in demand?

The Bureau of Labor Statistics projects 13.4% employment growth for market research analysts between 2022 and 2032. In that period, an estimated 116,600 jobs should open up.

Are market research jobs in demand?

Each year there are about 94,000 job openings for market research analysts. The average growth rate is expected to be 13% over the next 10 years, which is much faster than average. The median salary for research analysts in 2022 was $68,230 per year.

Do you need an MBA to be a market research analyst?

While a master's degree is not always required for entry-level or early career market research analyst jobs, it can be helpful and is sometimes a necessity to be considered for advanced, higher-level positions, many of which offer a higher salary.

How do I start a career in commodities?

How do I start a career in commodity trading?

Many individuals who have built highly successful careers in commodities have formal qualifications in areas of business and finance. While these credentials are not strictly essential, they can make it easier to gain internships or junior positions at bigger commodity trading firms.

How do I get a job in commodity trading?

It is common practice for most commodity traders to have a bachelor's degree in business, international business, finance, economics or accounting in order to compete in the finance industry, but no degree is actually required to become a trader.