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Market Research Analyst

Market research analysts study consumer preferences, business conditions, and other factors to assess potential sales of a product or service. They help companies understand what products people want, who will buy them, and at what price.

Market research analysts typically do the following:

• Monitor and forecast marketing and sales trends
• Measure the effectiveness of marketing programs and strategies
• Devise and evaluate methods for collecting data, such as surveys, questionnaires, and opinion polls
• Gather data on consumers, competitors, and market conditions
• Analyze data using statistical software
• Convert data and findings into tables, graphs, and written reports
• Prepare reports and present results to clients and management

Market research analysts gather data and study other information to help a company promote its products or services. They gather data on consumer buying habits, demographics, needs, and preferences. They collect data and information using a variety of methods, such as focus groups, interviews, literature reviews, market analysis surveys, public opinion polls, and questionnaires.

Analysts help determine a company’s position in the marketplace by researching their competitors and studying their marketing methods, prices, and sales. Using this information, analysts may determine potential markets, product demand, and pricing. Their knowledge of the targeted consumer enables analysts to develop advertising brochures and commercials, product promotions, and sales plans.

Market research analysts evaluate data using statistical techniques and software. They must interpret what the data mean for their client, and they may forecast future trends. They often make charts, graphs, infographics, and other visual aids to present the results of their research.

Workers who design and conduct surveys that market research analysts use are survey researchers.

Market research analysts held about 792,500 jobs in 2021. The largest employers of market research analysts were as follows:

Because most industries use market research, these analysts are employed throughout the economy.

Market research analysts work individually or as part of a team, collecting, analyzing, and presenting data. For example, some analysts work with graphic designers and artists to create charts, graphs, and infographics summarizing their research and findings.

Work Schedules

Most market research analysts work full time during regular business hours.

Market research analysts typically need a bachelor’s degree. Some employers require or prefer that job candidates have a master’s degree. Strong research and analytical skills are essential.

Market research analysts typically need a bachelor's degree in market research or a related business, communications, or social science field.

Courses in statistics, research methods, and marketing are important for prospective analysts. Courses in communications and social sciences, such as economics or consumer behavior, are also helpful.

Some employers of market research analysts require or prefer a master’s degree. Several schools offer graduate programs in marketing research, but analysts may choose to complete a bachelor’s degree in another field, such as statistics and marketing, and earn a master’s degree in business administration (MBA). A master’s degree is often required for leadership positions or positions that perform more technical research.

Licenses, Certifications, and Registrations

Analysts may pursue certification, which is voluntary, to demonstrate a level of professional competency. The  Insights Association  offers several certifications for market research analysts, including the IPC Principal and the IPC Masters. Candidates qualify based on industry experience and passing an exam.

Other Experience

Completing an internship while in school may be helpful. Prospective analysts also may gain experience by volunteering for an organization and helping with market research or related projects.

Employers may prefer to hire candidates who have experience in other positions that require collecting and analyzing data or writing reports to summarize research. 

Market research analysts typically have an interest in the Thinking, Persuading and Organizing interest areas, according to the Holland Code framework. The Thinking interest area indicates a focus on researching, investigating, and increasing the understanding of natural laws. The Persuading interest area indicates a focus on influencing, motivating, and selling to other people. The Organizing interest area indicates a focus on working with information and processes to keep things arranged in orderly systems.

If you are not sure whether you have a Thinking or Persuading or Organizing interest which might fit with a career as a market research analyst, you can take a career test to measure your interests.

Market research analysts should also possess the following specific qualities:

Analytical skills. Market research analysts must be able to understand large amounts of data and information. 

Communication skills. Market research analysts need strong communication skills when gathering information, interpreting data, and presenting results to clients. 

Critical-thinking skills. Market research analysts must assess all available information to determine what marketing strategy would work best for a company.

Detail oriented. Market research analysts must be detail oriented because they often do precise data analysis.

The median annual wage for market research analysts was $63,920 in May 2021. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $37,570, and the highest 10 percent earned more than $128,320.

In May 2021, the median annual wages for market research analysts in the top industries in which they worked were as follows:

Employment of market research analysts is projected to grow 19 percent from 2021 to 2031, much faster than the average for all occupations.

About 99,800 openings for market research analysts are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire. 

Employment growth will be driven by an increasing use of data and market research across many industries. These workers will be needed to help understand the needs and wants of customers, measure the effectiveness of marketing and business strategies, and identify the factors affecting product demand.

The increase in the collection and analyses of big data—extremely large sets of information, such as social media comments or online product reviews—can provide insight on consumer behaviors and preferences. Businesses will need market research analysts to conduct analyses of the data and information.

For more information about market research analysts, visit

Insights Association

For resources and information about qualitative research, visit

Qualitative Research Consultants Association  (QRCA)

Where does this information come from?

The career information above is taken from the Bureau of Labor Statistics Occupational Outlook Handbook . This excellent resource for occupational data is published by the U.S. Department of Labor every two years. Truity periodically updates our site with information from the BLS database.

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This information is taken directly from the Occupational Outlook Handbook published by the US Bureau of Labor Statistics. Truity does not editorialize the information, including changing information that our readers believe is inaccurate, because we consider the BLS to be the authority on occupational information. However, if you would like to correct a typo or other technical error, you can reach us at [email protected] .

I am not sure if this career is right for me. How can I decide?

There are many excellent tools available that will allow you to measure your interests, profile your personality, and match these traits with appropriate careers. On this site, you can take the Career Personality Profiler assessment, the Holland Code assessment, or the Photo Career Quiz .

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Market Research Analyst Overview

Overall Score 5.7 / 10

• # 7 in Best Business Jobs
• # 27 in 100 Best Jobs

What is a Market Research Analyst ?

• Communicating with stakeholders and participating in meetings.
• Analyzing data and creating visualizations.
• Ensuring project timelines are met.
• Monitoring sales trends. 

Market Research Analysts rank # 7 in Best Business Jobs . Jobs are ranked according to their ability to offer an elusive mix of factors. Read more about how we rank the best jobs.

• Job Market 4.6
• Future Growth 8.1
• Work Life Balance 4.8

How Much Does a Market Research Analyst Make?

Job satisfaction.

Average Americans work well into their 60s, so workers might as well have a job that's enjoyable and a career that's fulfilling. A job with a low stress level, good work-life balance and solid prospects to improve, get promoted and earn a higher salary would make many employees happy. Here's how Market Research Analysts job satisfaction is rated in terms of upward mobility, stress level and flexibility.

Opportunities for advancements and salary

Work environment and complexities of the job's responsibilities

Alternative working schedule and work life balance

Kara Coleman Fields

Kara Coleman Fields is an editor and writer on the Advice Products team, where she works on projects including Best Companies to Work For and Best Jobs. Previously, she wrote and edited SkillBuilder, loans and credit cards content for U.S. News. Prior to joining U.S. News, she worked for news outlets in Alabama and Tennessee. Read more

How to Become a Market Research Analyst ?

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Research Analyst Career Path: Roles, Salaries & Progression

From a broad perspective, the role of research analyst can be used to describe any individual who collects and interprets data, and presents their findings in a clear way to help guide any decisions that need to be made by an organization.

In the finance sector, research analysts are usually involved in creating market reports on assets, securities or other investment opportunities for use either internally, such as by an investment bank, or to provide to external clients. 

A range of titles are used such as investment analyst or perhaps more commonly equity research analyst, depending on the specific company and area of finance they work in. However most analysts are responsible for similar scopes of work, which is to gather data, analyze and present information that forms a foundation for their firm’s strategy and decision making.

Becoming a research analyst will provide professionals with a great deal of career flexibility. As these positions are also in high demand, recruiters are always looking for individuals who possess the talent and drive to ascend to the next level. 

Are you considering a research analyst career path? Here’s everything you need to know to decide if it is right for you.

Buy-side versus sell-side analysts

When talking about research analysts, an important distinction needs to be made. Those who take on the role of a research analyst will normally be provided with two possible career paths:

• Sell-side analysts
• Buy-side analysts

What are the differences between these two terms? 

Sell-side analysts are primarily concerned with industry-specific stocks and assets, and conduct their research in order to provide targeted investment advice. They can work in tandem with institutional investors, traders and wealth management specialists. This communication takes place via research reports and ratings in regard to the asset(s) in question.

Buy-side analysts are more directly involved with the investments themselves. Often working on the behalf of a company, their main goal is to provide opportunities for capital growth that is in accordance with the aims (and the portfolio) of the firm itself. This research is generally not offered to the public. Opportunities often involve asset classes such as mutual funds, private equity schemes and pensions.

It’s worth bearing in mind that the market for sell-side analysts has slightly dried up in recent years. This is primarily due to an increase in the number of regulations that have been put in place, such as MiFID II. While there are still opportunities available, a growing number of candidates tend to be more focused upon buy-side positions.

What does a research analyst do?

Although the exact responsibilities of a research analyst will vary depending upon the position and the company, some of the core duties are likely to include:

• Keeping up to date with the latest news and data.
• Performing quantitative and qualitative analyses in relation to this data, mainly building earnings models and valuations.
• Monitor market conditions and anticipate the potential short and long term impact it has on an asset under coverage.
• Communicating and presenting investment ideas with others such as managers, co-workers, and clients.

As an entry level associate or junior analyst, you’ll most likely report to a senior analyst and a typical day will be structured according to priorities set by managers. Hours can sometimes be long, with 12 hour days not unusual, or longer at busy periods such as financial results announcement season.

Why become a research analyst?

Those who progress through the ranks as an analyst can enjoy decent salaries, challenging, analytical work where everyday is different. While hours can sometimes be long, particularly for entry level roles, a career as an analyst can be financially rewarding.

In addition to a good compensation, another advantage associated with this career is the sheer level of expertise that an analyst is required to possess. Highly desirable by firms that hope to embrace a competitive edge, this enables experienced analysts to diversify into other similar fields as potential future exit opportunities.

Despite experienced research analysts having a significant amount of knowledge, this field is reasonably easy to get into, at an entry level at least, in comparison to some other financial careers . Therefore it can be a good option for those who are keen to get their career underway right out of university or college and who possess a degree in the right subject.

While the job can be demanding, for those who enjoy using their analytical and numerical skills to identify the best solutions, it can also be extremely satisfying and intellectually stimulating. Analysts can work and specialize in a variety of different industries and asset types and, which makes this career path quite dynamic.

Personality traits which will normally be associated with a good research associate or analyst candidate include:

• Critical thinking
• Strong communication skills
• Logical reasoning
• An attention to detail
• A talent for maths and numbers in general

Research analyst hierarchy and progressing within the role

Assuming that you have decided to explore the role of a research analyst, how will your career progress in accordance with your experience? 

Unlike roles in investment banking which progression times are more ‘standard’, the exact time required to advance between stages in a research analyst career path is rather fluid. In other words, some individuals will ascend faster than others. That said, here are the typical 4 stage progression structure in a research role:

Research associate

Most associates will be accepted into an entry-level position after having graduated with a bachelor’s degree in business, finance or a similar field. These individuals will be directly supervised by a senior or VP analyst; enabling them to further hone their skills while gaining real-world experience. It is not uncommon for new entrants to be shifted between different senior analysts during the first few months.

Once one has gained enough experience, he or she will be granted the title of “Analyst” as opposed to “Associate”. While this might seem like a minor change, analysts can hold a number of additional titles such as vice president of analytics. Additionally, there can be different levels of analysts in research analytics, meaning not everyone who is an analyst is operating at the same level within the hierarchy. 

Analysts will therefore oversee their junior associates while also communicating with their seniors. While they still perform a fair amount of basic tasks, the added responsibility will provide room to further improve existing skill sets.

Senior VP analyst

Senior analysts are heavily involved in the final interpretation of data before it is presented to stakeholders (such as institutional investors or company management). Thus, they represent the “face” of an organization more than an associate or a mid-level analyst. Some additional duties involve taking ownership of the covered sector coverage, build relationships with investor relations teams of covered companies, communicating with clients, and making well-informed recommendations. Due to the technical nature of this position, many senior analysts will seek to obtain a master’s degree.

Research director

This final stage generally represents the top of the food chain within the career of a research analyst. Directors are responsible for overseeing the day-to-day operations of a firm. The duties can vary in accordance with the exact position, but some core roles include:

• Approving the onboarding of new employees.
• Monitoring team performance.
• Meeting with high-level clients and travelling when required.
• Defining the overall mission statement of an organization.
• Determining which asset classes/opportunities are in alignment with short- and long-term goals.

Due to the sheer number of responsibilities associated with a research director, up to 7 years of prior managerial experience may be required.

Research analyst salary

How much can you expect to earn as a research analyst? This will once again be based on experience and the exact role. Let’s compare typical average salaries of those working in financial centres in the UK and the US.

Expected research analyst salaries in London

Expected research analyst salaries in new york.

As this illustrates, research analysts in the US could generally expect to receive higher pay than those in the UK (and indeed the rest of Europe). It’s important to point out that salaries can range quite significantly between firms and location, with larger banks usually paying higher than smaller ones.

How to become a research analyst

Most research analysts will require a formal university degree in subjects such as economics, business, finance, or accounting in order to join as an entry level associate. That said, obtaining a summer internship whilst still studying can certainly improve your odds to secure a full time role before graduating. 

From there, it’s a matter of performing well, gaining experience and keeping an eye out for opportunities. Research teams can often be smaller than in other financial roles like investment banking , which means opportunities to progress can be more limited. It may therefore be necessary to move between firms to rise up the ranks more quickly.

Those who wish to switch their careers from a different financial role , such as investment banking into equity research could do so given the high transferable skills. However, it may be still necessary to begin at an entry-level position. The primary difference is that those with prior experience will tend to ascend faster through the hierarchy.

What types of skills do recruiters look for when headhunting potential research analysts? While technical knowledge is certainly important, a handful of traits are just as critical, including:

• A familiarity with financial analysis software and the ability to learn new programs.
• An understanding of human behaviour and behavioural finance (important when identifying specific trends).
• Superior levels of reading, writing, communication and data analysis.
• The ability to maintain focus within individual and group settings.

Above all, analysts should always possess the ability to embrace new skills; the learning curve within this career never truly ends.

What qualifications are useful as a research analyst?

The competitive nature of this field dictates that candidates who possess prior qualifications tend to be hired quicker than those with little knowledge other than a university degree. Thankfully, a number of the best finance certifications are available to those either already working as a research analyst, or hoping to do so, and each of these offers its own unique advantages.

Chartered Financial Analyst (CFA)

Those who hold a CFA (Chartered Financial Analyst) distinction will already possess an advantage over their competitors. As perhaps the gold standard of financial qualifications, a CFA charter demonstrates real-world skills and knowledge that are highly relevant to anyone wanting to begin or already following a research analyst career path. There are nearly 170,000 CFA charterholders worldwide ( some of these being research analysts ) and this number is expected to grow into the future.

Chartered Alternative Investment Analyst (CAIA)

A Chartered Alternative Investment Analyst (CAIA) certification is another useful “string to the bow” for research analysts. As a growing number of investors and organizations are interested in diversification and seeking higher returns, those who possess a working knowledge of alternative investment opportunities are now in high demand. More than 70,000 professionals are certified as CAIA charterholders and while narrower in scope when compared to the CFA, it is becoming extremely popular amongst a range of finance professionals.

Environmental, Social & Governance (ESG) certifications

Environmental, social and governance (ESG) concerns are becoming increasingly important topics in this day and age. This is particularly relevant when discussing buy-side analysts due to the amount of transparency that is now required. Those holding an ESG certification will be able to appreciate the environmental impacts of their recommendations while also being capable of assessing any potential risks that may be present.

As investment groups become even more concerned with potential compliance issues, ESG analysts are now more relevant than ever before, and qualifications like the CFA Institute’s Certificate in ESG Investing (and a whole range of ESG qualification options ) are designed to equip finance professionals with the skills to navigate this fast growing sector.

Master of Business Administration (MBA)

An MBA (Master of Business Administration) certification is another possible option for those involved in the research analysis sector. This is generally something undertaken by those wanting to move into a senior analyst or director role, as they will be required to oversee the day-to-day operations of an organization as well as its subordinates.

An MBA is also an excellent way to increase one’s existing salary; some studies finding that annual pay rate may rise by up to 50%. Whether an MBA versus a CFA or other financially focused qualification is the best choice largely depends on the individual and the way in which they’re aiming to progress their career.

Research analyst career outlook

Aside from strong data analysis skills, candidates will also need to possess a working knowledge of common financial software packages to handle bigger datasets. Some other notable observations include:

• The ability to adapt to a hybrid work environment.
• A greater focus upon ethical and sustainable investment opportunities.
• Critical thinking is expected to gain more weight within the field.

However, it is prudent to highlight that the demand for sell side equity research analysts has somewhat dampened in recent years. The US Bureau of Labor Statistics estimated that employment of research analysts (both buy and sell side) is expected to grow 6% on average from 2020-2030 , about as fast as the average for all occupations. This may be the result of increased regulations and leaner business models associated with lower commissions.

Although there are still opportunities, some are not as attractive as they once were. This brings us to the next point.

Research analyst exit options and opportunities

The good news is that those who have recently entered into the field of research analytics always have the opportunity to gain experience and to progress to higher professional levels. This is particularly the case for anyone who is a CFA charterholder or a similar certification.

What about potential exit opportunities? Assuming that you wish to change financial careers , numerous options may be available. For instance, the technical nature of this position may provide the ability to migrate into investment banking . Some other interesting alternatives include:

• Portfolio management
• Hedge funds
• Corporate finance/development
• Private equity
• Wealth management

The exact career path will ultimately depend upon your experience, interest and career goals.

Is a research analyst a good career choice for you?

Would the role of a research analyst fulfil your professional goals? Not only is this position quite varied, good salary and work life balance (compared to investment banking), but it is unique in the fact that there are a variety of potential exit opportunities in the future.

Still, there are some possible downsides. These include:

• The demand for sell-side analysts has diminished in recent times.
• It is not normally possible to obtain an entry-level position without a university degree.

Ultimately, it is wise to balance these observations with all of the other metrics highlighted throughout this article. If you’re interested in a fast-paced, yet sustainable finance career with a strong focus on combining analytical and qualitative work to make an informed decision, it’s likely that research analyst career may be suitable for you.

We hope the guide above shed some light on a research analyst career. Do you think  this career path suits you ? Let us know in the comments below!

Meanwhile, here are related articles which you may find interesting:

• Finance Career Quiz: Which Finance Career Fits Your Skills & Personality?
• CFA Careers: What Are Typical Job Opportunities for CFA Charterholders?
• Why is ESG Important and Which Careers Can Benefit From It?
• Finance Career Change: Plan Your Finance Career Switch With Our Free Tool
• Epic Career Path Guides:  Accounting  |  Investment Banking  |  Corporate Finance | Portfolio Management | Financial Planning  | Private Equity | Wealth Management | Risk Management | Hedge Funds | Fintech

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Excellent prescrived above for research analyst carrer and qualification skill devolups

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Market Research Analysts

Career, salary and education information.

What They Do : Market research analysts study market conditions to examine potential sales of a product or service.

Work Environment : Because most industries use market research, these analysts are employed throughout the economy. Most analysts work full time during regular business hours. Some work under pressure of deadlines and tight schedules.

How to Become One : Most market research analysts need at least a bachelor’s degree. Some research positions may require a master’s degree. Strong math and analytical skills are essential.

Salary : The median annual wage for market research analysts is $63,920.

Job Outlook : Employment of market research analysts is projected to grow 19 percent over the next ten years, much faster than the average for all occupations.

Related Careers : Compare the job duties, education, job growth, and pay of market research analysts with similar occupations.

Following is everything you need to know about a career as a market research analyst with lots of details. As a first step, take a look at some of the following jobs, which are real jobs with real employers. You will be able to see the very real job career requirements for employers who are actively hiring. The link will open in a new tab so that you can come back to this page to continue reading about the career:

Top 3 Market Research Analyst Jobs

Market research analyst . Monitor and forecast marketing trends. Mail resume. Saint Vincent Healthcare, 1810 N. Fair Oaks Avenue, Pasadena, CA 91103, Attn. C. Bautista recblid ...

The Market Research Analyst (Political and Corporate) reports to the Associate or Director and is responsible for assisting with the execution and implementation of custom qualitative and ...

Read, review, and analyze the impact of scientific literature, patents, market reports, and news ... Author custom research reports using data from our proprietary database of 500 million+ research ...

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What Market Research Analysts Do [ About this section ] [ To Top ]

Market research analysts study market conditions to examine potential sales of a product or service. They help companies understand what products people want, who will buy them, and at what price.

Duties of Market Research Analysts

Market research analysts typically do the following:

• Monitor and forecast marketing and sales trends
• Measure the effectiveness of marketing programs and strategies
• Devise and evaluate methods for collecting data, such as surveys, questionnaires, and opinion polls
• Gather data on consumers, competitors, and market conditions
• Analyze data using statistical software
• Convert complex data and findings into understandable tables, graphs, and written reports
• Prepare reports and present results to clients and management

Market research analysts research and gather data to help a company market its products or services. They gather data on consumer demographics, preferences, needs, and buying habits. They collect data and information using a variety of methods, such as interviews, questionnaires, focus groups, market analysis surveys, public opinion polls, and literature reviews.

Analysts help determine a company's position in the marketplace by researching their competitors and analyzing their prices, sales, and marketing methods. Using this information, they may determine potential markets, product demand, and pricing. Their knowledge of the targeted consumer enables them to develop advertising brochures and commercials, sales plans, and product promotions.

Market research analysts evaluate data using statistical techniques and software. They must interpret what the data mean for their client, and they may forecast future trends. They often make charts, graphs, infographics, and other visual aids to present the results of their research.

Workers who design and conduct surveys are known as survey researchers .

Work Environment for Market Research Analysts [ About this section ] [ To Top ]

Market research analysts hold about 792,500 jobs. The largest employers of market research analysts are as follows:

Because most industries use market research, these analysts are employed throughout the economy.

Market research analysts can work individually or as part of a team, collecting, analyzing, and presenting data. For example, some analysts may work with graphic designers and artists to create charts, graphs, and infographics summarizing the research and findings.

Market Research Analyst Work Schedules

Most market research analysts work full time during regular business hours. Some, however, work under pressure of deadlines and tight schedules, which may require additional hours of work.

How to Become a Market Research Analyst [ About this section ] [ To Top ]

Get the education you need: Find schools for Market Research Analysts near you!

Most market research analysts need at least a bachelor's degree. Some research positions may require a master's degree. Strong math and analytical skills are essential.

Education for Market Research Analysts

Market research analysts typically 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 backgrounds in business administration, the social sciences, or communications.

Courses in statistics, research methods, and marketing are essential for these workers. Courses in communications and social sciences, such as economics or consumer behavior, are also important.

Some market research analyst jobs require a master's degree. Several schools offer graduate programs in marketing research, but many analysts complete degrees in other fields, such as statistics and marketing, and/or earn a master's degree in business administration (MBA). A master's degree is often required for leadership positions or positions that perform more technical research.

Licenses, Certifications, and Registrations for Market Research Analysts

Certification is voluntary, but analysts may pursue certification to demonstrate a level of professional competency. The Marketing Research Association offers the Professional Researcher Certification (PRC) for market research analysts. Candidates qualify on the basis of experience and knowledge; they must pass an exam, have at least 3 years working in opinion and marketing research, and complete 12 hours of industry-related education courses. Individuals must complete 20 hours of industry-related continuing education courses every 2 years to renew their certification.

Important Qualities for Market Research Analysts

Analytical skills. Market research analysts must be able to understand large amounts of data and information.

Communication skills. Market research analysts need strong communication skills when gathering information, interpreting data, and presenting results to clients.

Critical-thinking skills. To determine what marketing strategy would work best for a company, market research analysts must assess all available information.

Detail oriented. Market research analysts must be detail oriented because they often do precise data analysis.

Market Research Analyst Salaries [ About this section ] [ More salary/earnings info ] [ To Top ]

The median annual wage for market research analysts is $63,920. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $37,570, and the highest 10 percent earned more than $128,320.

The median annual wages for market research analysts in the top industries in which they work are as follows:

Job Outlook for Market Research Analysts [ About this section ] [ To Top ]

Employment of market research analysts is projected to grow 19 percent over the next ten years, much faster than the average for all occupations.

About 99,800 openings for market research analysts are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.

Employment of Market Research Analysts

Employment growth will be driven by an increasing use of data and market research across many industries. They will be needed to help understand the needs and wants of customers, measure the effectiveness of marketing and business strategies, and identify the factors affecting product demand.

The increase in the collection and analyses of big data—extremely large sets of information, such as social media comments or online product reviews—can provide insight on consumer behaviors and preferences. Businesses will need market research analysts to conduct analyses of the data and information.

Careers Related to Market Research Analysts [ About this section ] [ To Top ]

Advertising, promotions, and marketing managers.

Advertising, promotions, and marketing managers plan programs to generate interest in products or services. They work with art directors, sales agents, and financial staff members.

Cost Estimators

Cost estimators collect and analyze data in order to estimate the time, money, materials, and labor required to manufacture a product, construct a building, or provide a service. They generally specialize in a particular product or industry.

Data Scientists

Data scientists use analytical tools and techniques to extract meaningful insights from data.

Economists study the production and distribution of resources, goods, and services by collecting and analyzing data, researching trends, and evaluating economic issues.

Mathematicians and Statisticians

Mathematicians and statisticians analyze data and apply mathematical and statistical techniques to help solve real-world problems in business, engineering, healthcare, or other fields.

Operations Research Analysts

Operations research analysts use advanced mathematical and analytical methods to help organizations investigate complex issues, identify and solve problems, and make better decisions.

Public Relations Specialists

Public relations specialists create and maintain a favorable public image for the organization they represent. They craft media releases and develop social media programs to shape public perception of their organization and to increase awareness of its work and goals.

Survey Researchers

Survey researchers design and conduct surveys and analyze data. Surveys are used to collect factual data, such as employment and salary information, or to ask questions in order to understand people's opinions, preferences, beliefs, or desires.

More Market Research Analyst Information [ About this section ] [ To Top ]

For more information about market research analysts, visit

Insights Association

A portion of the information on this page is used by permission of the U.S. Department of Labor.

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Research Analyst Skills

Learn about the skills that will be most essential for Research Analysts in 2024.

Getting Started as a Research Analyst

• What is a Research Analyst
• How To Become
• Certifications
• Tools & Software
• LinkedIn Guide
• Interview Questions
• Work-Life Balance
• Professional Goals
• Resume Examples
• Cover Letter Examples

What Skills Does a Research Analyst Need?

Find the important skills for any job.

Types of Skills for Research Analysts

Critical thinking and analytical skills, technical proficiency and data management, quantitative research and statistical knowledge, communication and visualization, industry knowledge and business acumen, top hard skills for research analysts.

• Critical Thinking and Analytical Reasoning
• Effective Communication

Attention to Detail

• Problem-Solving
• Adaptability and Flexibility
• Time Management and Prioritization
• Collaboration and Teamwork
• Creativity and Innovation
• Emotional Intelligence
• Persuasion and Negotiation

Top Soft Skills for Research Analysts

• Data Collection and Management
• Statistical Analysis and Quantitative Methods
• Data Visualization and Reporting
• Advanced Excel and Spreadsheet Proficiency
• Database Management and SQL
• Programming Skills in Python or R
• Econometrics and Modeling Techniques
• Machine Learning and Predictive Analytics
• Survey Design and Implementation
• Big Data Analytics Tools (e.g., Hadoop, Spark)

Most Important Research Analyst Skills in 2024

Advanced analytical proficiency, critical thinking and problem solving, technological savvy, effective communication and storytelling, industry-specific knowledge, quantitative research methodologies, adaptability and continuous learning.

Show the Right Skills in Every Application

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• Master Advanced Data Analytics Tools: Invest time in learning cutting-edge data analysis software and platforms that are becoming industry standards, to handle large datasets more efficiently.
• Develop Proficiency in Statistical Programming: Gain expertise in programming languages such as R or Python, which are essential for complex data manipulation and analysis.
• Expand Your Knowledge in Machine Learning: Explore machine learning techniques to uncover deeper insights from data and stay competitive in the field of advanced analytics.
• Enroll in Specialized Research Methodology Courses: Keep abreast of the latest research methodologies by taking courses from accredited institutions or online learning platforms.
• Build a Strong Foundation in Data Ethics: Understand the ethical implications of data handling and analysis to ensure integrity and trustworthiness in your research.
• Participate in Research Forums and Networks: Engage with the research community through forums, webinars, and professional networks to exchange ideas and stay informed about industry trends.
• Seek Opportunities for Collaborative Research: Collaborate with peers from different disciplines to broaden your perspective and enhance your analytical skills.
• Attend Industry-Specific Seminars and Conferences: Stay updated on sector-specific insights and developments by attending relevant events, which can also serve as networking opportunities.
• Focus on Effective Communication of Findings: Improve your ability to communicate complex data and analysis clearly to stakeholders through visualization tools and storytelling techniques.
• Embrace Continuous Learning: Dedicate time to reading academic journals, industry reports, and books to keep your knowledge current and comprehensive.

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What are the emerging skills for research analysts today, how can research analysts effectivley develop their soft skills, how important is technical expertise for research analysts.

Research Analyst Education

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What Does a Market Research Analyst Do?

Learn About the Salary, Required Skills, & More

The Balance / Theresa Chiechi 

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Market Research Analyst Salary

• Education, Training & Certification
• Skills & Competencies

Job Outlook

Work environment, work schedule, comparing similar jobs.

Market research analysts assess consumer preferences to help organizations decide how to shape, advertise, and market their products and services. Many market research analysts work for consulting firms that are hired on a contract basis. Others work directly for employers as part of a marketing team at consumer and product firms.

Approximately 738,000 people worked as market research analysts in the U.S. in 2020.

Market Research Analyst Duties & Responsibilities

Market analysts' responsibilities can depend somewhat on the employer, but they're largely similar:

• Devise and evaluate methods for collecting data, such as surveys, focus groups, questionnaires, and opinion polls.
• Analyze data using statistical software.
• Interpret the data they've collected, ​organizing this information into statistical tables and reports.
• Present their findings to executives and clients through charts, graphs, and other visual means to help them make ​better-informed decisions about product introductions, modifications, and marketing campaigns. 
• Create a visual of industry trends and of competitors so organizations can predict how products and services will fare in the marketplace.
• Measure effectiveness of marketing programs and strategies.

The industries that most frequently employ market research analysts include management, science, technical consulting services, computer systems design services, and advertising/public relations services.

Salaries can vary depending upon employer and industry. Those who work in the publishing industry tend to be the highest paid, but only marginally over those in company management.

• Median Annual Salary: $65,810
• Top 10% Annual Salary: More than $127,410
• Bottom 10% Annual Salary: Less than $33,80

Education, Training & Certification

Advanced education and certification can help land a job in this occupation.

• Education: Market research analysts typically have at least a bachelor's degree in marketing, market research, statistics, computer science, math, social sciences, business administration, communications, or a related field. An  MBA  or other advanced education isn't required, but it's usually desired for leadership positions.
• Certification: Certifications are voluntary but strongly recommended because they help demonstrate professional competency.

The  Marketing Research Association  provides training and certification to those who qualify. 

Market Research Analyst Skills & Competencies

Some qualities and acquired skills will help you succeed at becoming a market research analyst.

• Computer skills: Experience with Microsoft PowerPoint and Word, as well as statistical software platforms such as SPSS, WinCross, SAS, and Market Sight, can help with sorting data, as well as creating visual results and trends.
• Math and analytical skills: These are essential for analyzing research data.
• Confidence : You should be comfortable speaking in front of strangers and presenting results to internal team members and management.
• Multitasking capability : You should be able to manage multiple projects with a quick turnaround.
• Interpersonal skills: You'll need an ability to work well with all levels of management, internal staff, clients, and vendors.

According to the U.S. Bureau of Labor Statistics, opportunities for market research analysts are expected to grow by 18% from 2016 through 2029, which is much faster than the average for all occupations.

Trends toward using data to understand consumer preferences for products and services and to target marketing to specific consumer niches are chiefly responsible for this projected growth.

This is a diversified position that can require working alone or with a team at any given time. You'll be working with people with a wide variety of skills and talents.

This is a full-time job, normally during regular business hours. Some overtime can be required due to looming deadlines and business volume.

How to Get the Job

LEARN AND APPLY:

The Insights Association has job listings, a networking portal, and it offers a certification program that can add immeasurably to your resume. Also check the top job boards for available positions.

DRAFT THE PERFECT RESUME:

Your resume is your first introduction to a prospective employer, and a good one can't be overrated. Learn tips and techniques for making yours perfect.

INCLUDE RELEVANT SKILLS IN YOUR COVER LETTER:

If the job requests a  cover letter , use two to three short paragraphs to describe past projects where you successfully performed market research.

Here's the estimated annual earning for similar occupations.

• Cost estimator : $66,610
• Economist : $108,350
• Public relations specialist : $62,810
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