Lessons I Have Learned as an Entry-Level Analyst

By Matthew Moran

The thought of starting a new job can be a daunting feeling, going into a new challenge not fully knowing what to expect. Similarly, I was certainly feeling nervous and excited in the weeks leading up to my first day in consulting. Since starting my role as an analyst 5 months ago, I have learned many valuable lessons - such as keeping an open mind and taking every situation as an opportunity to learn and grow. I recently took some time to reflect on this period and compile a list of lessons that I have learned since. If you’re an analyst who just started or is starting soon the hope is that reading through these lessons will help you better prepare and calm any nerves you may be have. ?

While these lessons might seem very broad, they all revolve around three main ideas: being patient, keeping an open mind, and being receptive to feedback. Following these three ideas will ensure you are setting yourself up for success:

1. Get Organized!Organization is critical to staying on top of details and deliverables, so prepare ahead of time, keep an open mind, and don't hesitate to try new methods. When I first started, I soon realized my go-to method from college (using a notebook and colored pencils) was not as effective in my new environment. At the suggestion of my manager, I tried using Outlook's Task function. Though I never liked digital planners in the past, they are now a staple in my workday! Ultimately, the method doesn't matter as much as the results, so try whatever works best for you. This will make your day smoother while delivering the work you're assigned, at the quality you're capable of, in the time you're given.
2. Always Ask QuestionsYou are an analyst. When you were hired it wasn’t under the assumption that you were all-knowing in the field. It was with the understanding that you are eager to learn and take initiative. If you ever feel nervous or self-conscious about asking a question, remind yourself that you’re trying to learn and the best way to do so is to ask. So, fire those questions away and get to learning!
3. Befriend Your Team!It is important to build a strong relationship with your co-workers, considering you spend more time with them than anyone else. Not only will it create a positive work environment, but it will also make work more enjoyable! This can be done in a multitude of ways: It can be as simple as asking your coworkers what they did over the weekend or if they have weekend plans. You can even take it a step further and plan group activities! If you are in person this can be planning a team outing or if you are remote, it can be a virtual happy hour. The objective is to form a connection with your team beyond just being employees of the same company, doing so creates a positive working environment that you and others are happy to be a part of.
4. Don't Get Attached to Your WorkSomething you will need to learn early on as an entry-level analyst is that certain decisions will be out of your control, and you need to be okay with that. The organization can decide that the deliverable you have been working on no longer aligns with its goals and scrap it. It is important to remember that this is not a result of the quality of work you have been doing but simply a change in approach. It might be easy to feel discouraged and view the deliverable as a waste of your time. This, however, couldn’t be further from the truth. Regardless of the deliverable’s impact, the lessons learned while creating it will stay with you, and any learning opportunity is valuable.
5. Feedback is Your Best FriendAt the entry-level, your priority should be to learn and create a strong foundation that you can build upon. The best way to do this is to welcome feedback with open arms. Remember that you are in a learning mode, you won’t do everything right on your first go-ahead. Feedback isn’t a criticism of your character in the slightest, so don’t take it personally! Feedback is what will help engrain best practices into your work ethic. Without feedback, it is almost impossible to make significant progress. So welcome feedback at any opportunity.
6. Iterations are Part of the ProcessWhenever you are working on a first draft it is easy to be discouraged. You have all these ideas in your head about how things are supposed to look but they don’t seem to come together the way you’d hope. It is important to keep in mind that no first draft will be close to a final draft. Without improvements, you will never reach a well-polished final product. So, keep pushing through and make that ugly first version because it means you are one draft closer to the final product. Remember iterations are part of the process.
7. Time Works WondersIt can be easy to get frustrated if you feel like you aren’t meeting the goals you’ve set for yourself. However, remembering to frame the situation correctly is critical. As an analyst, you probably have very little experience (especially in consulting) under your belt. Expecting yourself to master a field in a short amount of time is unreasonable. Take each day as it comes and be patient. With more time comes more opportunities to learn and grow. Rome wasn’t built in one day and neither will your career.

While there are many more lessons to be learned, these seven are a great place to start! As a first-year analyst, you must remember that feedback is significant to your development. Every situation, positive or negative, has valuable lessons to be learned. This is an exciting time in your career, enjoy the process and remind yourself that you are just starting out. If you are ever feeling lost, confused, or overwhelmed you should always reach out and ask! That is what your team is for, they want to see you succeed just as much as you do.

Similarly, I’d love to hear what other people's experiences as entry-level analysts have been. What lessons or insights did you learn during that time, and how have they affected your career? Let me know in the comments below!