Market Research Analysts: Know It All In 1 Minute
In this career summary, you will find out what the job of A Market Research Analyst is about and what it is like.
After reading this, you will have a good idea on what the job is about and decide if this is the right career for you.
Market Research Analysts and Marketing Specialists research market conditions in local, regional, or national areas, or gather information to determine potential sales of a product or service, or create a marketing campaign. May gather information on competitors, prices, sales, and methods of marketing and distribution.
- Prepare reports of findings, illustrating data graphically and translating complex findings into written text.
- Seek and provide information to help companies determine their position in the marketplace.
- Gather data on competitors and analyze their prices, sales, and method of marketing and distribution.
- Collect and analyze data on customer demographics, preferences, needs, and buying habits to identify potential markets and factors affecting product demand.
$70030 per year
$33.67 an hour
Market Research Analysts with little to no experience tend to make between $33530 and $44950 while the more experienced ones make over $87900 per year.
|Top 5 paying states||Hourly||Annual|
1 of the easiest ways to increase your salary as A Market Research Analyst is to move to a higher paying state like CA. Right now, the highest paying states for Market Research Analysts are CA, WA, CO, DE and NY.
However a higher pay at CA doesn’t guarantee that you will make more because the living expenses at CA might be 2x higher than where you are currently at now.
3 other factors that can increase your salary as A Market Research Analyst is the degree you hold, the industry you work in and lastly the company you work for (bigger companies like the Fortune 500 companies tend to pay more).
Recommended degree level
We asked other Market Research Analysts what degree they had when they got the job and most of them said they had a Bachelors degree followed by Master’s degree.
Other than that we also asked them what did they major in and here are the most popular majors that came up.
Another popular question from our readers is what makes A Market Research Analyst successful or would they be good in this career.
Well, we found that most successful Market Research Analysts have these 5 skillsets.
|Complex Problem Solving|
In addition to that, 1 common characteristic among successful Market Research Analysts is they are good at Integrity. Here are the top 5 common characteristics.
|Attention to Detail|
= Hot in-demand that most employers are looking for
Pros and Cons
Here are some reasons why you should and shouldn’t choose A Market Research Analyst as your career.
|Suitable for people who likes to solve problems mentally|
|Suitable for people who values achievements and are resultsoriented|
|This career is perfect for people who love to work indoors.|
|Very good salary|
|Normal working hours (40 hours per week)|
|Not suitable for people who likes to help and teach others|
|It is hard to get into this career. A considerable amount of workrelated skill, knowledge, or experience is required for this career.|
There will be pros and cons for all jobs. The point is how much do the pros outweigh the cons to you.
A pro to you might be a con to Bob. A pro to Bob might be a con to you. We suggest reading about this career framework that can help you to find out what type of careers are right for you.
What is the job like
Is this job meaningful
40 hours per week
Regular (Set schedule and routine)
On a normal working week Market Research Analysts and Marketing Specialists work 40 hours per week.
68% of Market Research Analysts said they were satisfied with their job and 41% said they feel like their job is making other people’s lives better.
Is this right for me
Best personality for this career
The Thinkers and The Persuaders
You can read more about these career personality types here.
People who are suitable for this job tends to like working with ideas, and require an extensive amount of thinking. They like searching for facts and figuring out problems mentally.
They also like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk taking and often deal with business.
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They analyze and manage risk management issues by identifying, measuring, and making decisions on operational or enterprise risks for an organization.
They plan, develop, or conduct surveys. May analyze and interpret the meaning of survey data, determine survey objectives, or suggest or test question wording. Includes social scientists who primarily design questionnaires or supervise survey teams.
They plan, direct, or coordinate marketing policies and programs, such as determining the demand for products and services offered by a firm and its competitors, and identify potential customers. Develop pricing strategies with the goal of maximizing the firm’s profits or share of the market while ensuring the firm’s customers are satisfied. Oversee product development or monitor trends that indicate the need for new products and services.
They conduct quantitative analyses of information affecting investment programs of public or private institutions.
They conduct programs of compensation and benefits and job analysis for employer. May specialize in specific areas, such as position classification and pension programs.
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Career type Business and Finance
Marketing Information Management and Research
Science and Math
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Related to Market Research Analysts and Marketing Specialists Career Information
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