The volume integral equation of electromagnetic scattering can be used to c
ompute the scattering by inhomogeneous or anisotropic scatterers. In this p
aper we compute the spectrum of the scattering integral operator for a sphe
re and the eigenvalues of the coefficient matrices that arise from the disc
retization of the integral equation. For the case of a spherical scatterer,
the eigenvalues lie mostly on a line in the complex plane, with some eigen
values lying below the line. We show how the spectrum of the integral opera
tor can be related to the well-posedness of a modi ed scattering problem. T
he eigenvalues lying below the line segment arise from resonances in the an
alytical series solution of scattering by a sphere. The eigenvalues on the
line are due to the branch cut of the square root in the definition of the
refractive index. We try to use this information to predict the performance
of iterative methods. For a normal matrix the initial guess and the eigenv
alues of the coefficient matrix determine the rate of convergence of iterat
ive solvers. We show that when the scatterer is a small sphere, the converg
ence rate for the nonnormal coefficient matrices can be estimated but this
estimate is no longer valid for large spheres.