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Market Research Analysts

Market Research Analysts
Quick Facts : Market Research Analysts*
2010 Median Pay$60,570
Entry Level EducationBachelor's degree
Work Experience in Related OccupationNone
Number of Jobs, 2012282,700
Job Outlook41% (Much faster than average)
Employment Change116,600


Market research analysts study market conditions to examine potential sales of a product or service. They look at local, regional and national areas and help companies understand what products people want, the types of consumers and the price. They help determine a company?s position in the marketplace by researching their competitors and analyzing their prices, sales, and marketing methods.

What Market Research Analysts Do

  • Monitor and forecast marketing and sales trends
  • Measure the effectiveness of marketing programs and strategies
  • Gather data about consumers, competitors, and market conditions
  • Analyze data using statistical software
  • Prepare reports and present results to clients or management

Work Environment

Market research analysts work in nearly every industry. They may work with the public to gather information and data, but they generally work at a computer, collecting and analyzing marketing data and preparing reports. Although most work full time during regular business hours, some may work long hours to meet deadlines.
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Job Outlook

Employment of market research analysts is expected to grow 41 percent from 2010 to 2020, which will be driven by an increased use of data and market research across all industries in understanding the needs and wants of customers and to measure the effectiveness of marketing and business strategies.
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Pay

The average salary of market research analysts was $60,570 in May 2010.
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Market Research Analysts*
Average Annual Salary, May 2010

Market Research Analysts

60570

Finance Occupations

59143.0435

All Jobs in the U.S.

52312.5223
Market Research Analysts*
Percent Change in Employment

Market Research Analysts

41.2451

Finance Occupations

18.39732977618342

All Jobs in the U.S.

15.767561808929724

Becoming a Market Research Analysts

Market research analysts need a bachelor's degree in market research or a related field. Many have degrees in fields such as statistics, math, or computer science. Others have a background in business administration, one of the social sciences, or communications.
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