National Avg. Salary

$70,030 More Salary Data →

Job Growth Rate

18.6% More Growth Data →

Recommended Degree

Associate's Programs & Degrees →

Attributes

  • Creativity Focused
  • Don't Take Work Home
  • Fast Paced Career
  • Growing Industry

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Market Research analysts are individuals that research public market conditions by gathering the data from their research and using statistical techniques and software.  They will also help companies conceive the potential sale of a specific sale and/or service.  They will assist companies in knowing what products consumers will want and will purchase and at what price point.

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Job Description

The following responsibilities are common for individuals in the Market Research field:

  • Exploring different marketing strategies
  • Forecasting sales trends
  • Gathering and analyzing market research data
  • Converting market research data into tables, charts, graphs and reports
  • Presenting the market research findings to clients and companies

A Day in the Life
Market Research Analysts work by providing clients and companies with consumer and industry data analysis and information needed to identify new target consumer groups and adequately market their products and services.

Some companies and clients require tight deadlines and strict time frames so this could require a them to work long hours. And they can work independently or as a team.

They spend a lot of time on the computer preparing and producing tables, charts, graphs and reports with the data acquired from specific demographic audiences.  They will need to keep up to date with the news, popular trends, and keep up with different market sectors.

Every day can be different.  One day they will be designing a questionnaire or developing an online survey, to then consulting with various clients and/or companies to present the research findings.  The findings and recommendations produced are vital for companies to make informed decisions based on the information they provide.

Typical Work Schedule
They will typically work an 8 or 9 hour day Monday through Friday, depending on the client and project being carried out and emerging projects and deadlines.

Projected Job Growth

Market Research Analyst positions are expected to grow exponentially in the upcoming years.  With the demand of more and more companies that need to get inside the minds of the consumers and companies in need of strategy, these particular positions will be in high demand in the future.

Career Progression

Early Career – Obtain a bachelor’s degree in mathematics, statistics or sociology and pursue an entry-level position with a marketing research firm
Mid-Career – Obtain an MBA and achieve a management position in a company or start pursuing technical research analyst positions.
Late Career – Obtain a doctorates degree to teach Market Research in a university

Typical Employers

Typically they would work for a marketing firm.  The most desired positions are those with the Big Four marketing firms.  Those Big Four marketing firms are: Nielsen and Kantar, IMS Health and Ipsos S.A.

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Market Research Analyst Salary Data

We've provided you the following to learn more about this career. The salary and growth data on this page comes from recently published Bureau of Labor Statistics data while the recommendations and editorial content are based on our research.

National Annual Salary

Low Range

$44,950

Average

$70,030

High Range

$120,460

National Hourly Wage

Low Range

$22/hr

Average

$34/hr

High Range

$58/hr

How do Market Research Analyst salaries stack up to other jobs across the country? Based on the latest jobs data nationwide, Market Research Analyst's can make an average annual salary of $70,030, or $34 per hour. On the lower end, they can make $44,950 or $22 per hour, perhaps when just starting out or based on the state you live in.

Salary Rankings And Facts

  • #198 Nationally for All Careers

  • Above Average Salary Nationally

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How To Become

Becoming a Market Research Analyst generally requires a bachelor’s degree of some kind.  They  should have superb analytical skills along with an innate curiosity for all types of people. Students should pursue business management, mathematics and statistics, computer science and marketing are all great classes to take to prepare yourself for this role.

Having previous experience in business and marketing can prove extremely helpful for this job.  Most of them are employed by consulting firms or work for many various different companies.

Having a Bachelor’s degree is great for entry – level positions.  But ultimately they should acquire an MBA because more and more companies and clients are seeking out employees with this degree level.  Graduate degrees are especially useful for management positions and individuals seeking out the technical market research.  A doctorate degree would be required for the individual wanting to teach at the university level.


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Quick Summary

  • Recommended Min. Degree

    Associate's

Programs and Degrees

Here are the most common degrees for becoming a Market Research Analyst. an Associate's is usually recommended and specifically a degree or coursework that prepares you for the particular field, see below.

Highest Education Among Market Research Analyst

  • 3.1%   Doctorate
  • 23%   Masters
  • 53.9%   Bachelors
  • 4.9%   Associates
  • 10.6%   College
  • 3.9%   High School
  • 0.7%   Less than High School

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Job Growth Projections and Forecast

2014 Total Jobs

495,500

2024 Est. Jobs

587,800

Job Growth Rate

18.6%

Est. New Jobs

92,300

How does Market Research Analyst job growth stack up to other jobs across the country? By 2024, there will be a change of 92,300 jobs for a total of 587,800 people employed in the career nationwide. This is a 18.6% change in growth over the next ten years, giving the career a growth rate nationwide of Above Average.

Growth Rankings And Facts

  • #66 Nationally for All Careers

  • Above Avg. Growth Nationally

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What Companies Employ The Most Market Research Analysts

Industry Current Jobs New Jobs Needed % Increase
Management, scientific, and technical consulting services 50,000 18,900 19%
Management of companies and enterprises 41,800 5,600 6%
Computer systems design and related services 26,200 8,100 8%

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