繁體中文
工作實況：研究、建模同寫報告
投資分析師嘅核心工作係「研究加判斷」：緊貼行業同公司消息、分析財務數據、建立同更新財務模型、做估值，再寫出有觀點嘅研究報告。賣方分析師要經常同客戶同銷售團隊溝通，安排公司管理層同投資者見面；買方分析師就要為投資組合揀股同做盡職調查。無論邊一邊，都要捱得住長工時同業績期嘅高強度，同時要保持客觀同獨立。
入職關卡：證監會發牌同勝任能力
如果分析工作涉及就證券提供意見，就屬於證監會第4類受規管活動，須向證監會領牌：一般從業員申請「持牌代表」，監督有關業務嘅主管就要成為「負責人員」。發牌以「適當人選」為準則，會考慮學歷、行業經驗、勝任能力同信譽；證監會亦發出《勝任能力的指引》，列明行業經驗同考試等要求。除獲豁免外，申請人通常要通過香港證券及投資學會主辦嘅資格考試相關試卷。
唔係個個分析師都要牌
要留意，「投資分析師」係一個職能名稱，唔係個個都要證監會牌照。假如你嘅工作係就證券提供意見、發布研究或向客戶推介買賣，通常要領牌；但如果係純粹做內部研究、非證券類分析，或者只係支援性質，就未必受規管。同樣地，CFA 等專業資格係行業加分項，唔係法定要求。入行前最好睇清楚實際職務同事業機構嘅要求，唔好假設「叫得分析師就要有牌」。
English
The job: research, modelling and writing
The core of an investment analyst's work is research plus judgement: tracking industry and company news, analysing financial data, building and updating financial models, valuing businesses and writing research with a clear view. Sell-side analysts communicate constantly with clients and the sales team and arrange meetings between management and investors; buy-side analysts pick stocks for portfolios and carry out due diligence. On either side, analysts must cope with long hours and the intensity of reporting seasons while staying objective and independent.
The gate: SFC licensing and competence
If analytical work involves advising on securities, it falls under the SFC's Type 4 regulated activity and requires an SFC licence: ordinary staff apply as a "licensed representative", while those supervising the business become "responsible officers". Licensing is based on the "fit and proper" test, considering academic qualifications, industry experience, competence and reputation; the SFC also issues Guidelines on Competence setting out industry-experience and examination requirements. Unless exempted, applicants usually pass the relevant papers of the licensing examination run by the Hong Kong Securities and Investment Institute.
Not every analyst needs a licence
Note that "investment analyst" is a functional title, and not every such role needs an SFC licence. If the work involves advising on securities, publishing research or recommending trades to clients, a licence is usually required; but purely internal or non-securities analysis, or supporting roles, may not be regulated. Likewise, credentials such as the CFA are an industry advantage, not a legal requirement. Before joining, it is worth checking the actual duties and the requirements of the prospective employer rather than assuming that any job called "analyst" must be licensed.
