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Become A Market Analyst

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Working As A Market Analyst

  • Analyzing Data or Information
  • Getting Information
  • Interacting With Computers
  • Interpreting the Meaning of Information for Others
  • Communicating with Supervisors, Peers, or Subordinates
  • Mostly Sitting

  • Make Decisions

  • $48,586

    Average Salary

What Does A Market Analyst Do

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

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.

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How To Become A Market Analyst

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

Education

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, and 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

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 based on experience and knowledge; they must pass an exam, be a member of a professional organization, and have at least 3 years working in opinion and marketing research. Individuals must complete 20 hours of industry-related continuing education courses every 2 years to renew their certification.

Important 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. 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.

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Market Analyst jobs

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Real Market Analyst Salaries

Job Title Company Location Start Date Salary
Emerging Markets Structured Middle Office (SMO) Analyst Barclays Services Corp New York, NY Jul 30, 2015 $218,775
Consumer & Markets Insights Analyst Apple Inc. Cupertino, CA Sep 14, 2016 $185,000 -
$233,900
Power Markets Analyst Citigroup Energy Inc. Houston, TX Aug 06, 2015 $175,000
Global Markets Analyst Field Street Capital Management, LLC New York, NY Nov 13, 2015 $160,000
Markets Analyst Citicorp North America, Inc. New York, NY Mar 09, 2015 $160,000
Analyst, Emerging Markets Rs Investment Management Co. LLC San Francisco, CA Jun 30, 2016 $158,974
International Markets Analyst LDI Group Inc. Salt Lake City, UT Oct 26, 2015 $157,900
Debt Capital Markets Analyst Stifel Financial Corp. Greenwich, CT Sep 11, 2015 $150,000
Market Analyst Asia TV USA, Ltd Iselin, NJ Jan 09, 2016 $145,000
Market Analyst B & S International Inc. Avon, OH Apr 15, 2015 $143,562
International Market Analyst, Vertical Markets Twitter, Inc. New York, NY Jul 12, 2015 $142,792
Market Analyst Corestrategy Corporation Irvine, CA Feb 24, 2016 $136,427
Market Analyst and Manager Animal Care Equipment & Services, LLC Broomfield, CO Oct 05, 2016 $134,832
Market Analyst Johnson Hotels Inc. Pleasanton, CA Apr 18, 2016 $134,347
Capital Markets Analyst II Federal Home Loan Bank of Des Moines Des Moines, IA Sep 09, 2016 $69,680 -
$104,520
Secondary Market Analyst Maxreal Cupertino Cupertino, CA Jan 07, 2016 $69,600
Market Analyst II Airline Tariff Publishing Company (Atpco) Dulles Town Center, VA Aug 31, 2016 $69,493 -
$80,000
Telecom Market Analyst Bruel & Kjaer North America Inc. Aptos, CA Mar 20, 2016 $69,410 -
$120,000
Statistician-Market Analyst Love's Travel Stops & Country Stores Oklahoma City, OK Aug 25, 2015 $69,347 -
$71,050
Data Scientist-Market Analyst Sourcelink Acquisition LLC Greenville, SC Oct 09, 2016 $68,000
Hospitality Market Analyst APIC Hotel Management California LLC San Francisco, CA Jul 09, 2016 $50,960
Market Reseach Analyst Nishimoto Trading Co Ltd DBA Wismettac Asian Foods Norcross, GA Oct 27, 2016 $50,794
Market Analyst Shenhua International America, LLC Mount Prospect, IL Feb 01, 2015 $50,700 -
$52,000
Market Analyst Impex GLS, Inc. Wood Dale, IL Jan 27, 2015 $50,589
Market Analyst Alpha Search Advisory Partners LLC Manhasset, NY Oct 01, 2015 $50,568
Market Analyst Banco Bradesco S.A. New York, NY Sep 14, 2015 $50,000
Market Analyst AQM Capital LLC New York, NY Aug 18, 2016 $50,000
Hospitality Market Analyst APIC Hotel Management California LLC. San Francisco, CA Aug 27, 2015 $50,000 -
$69,000

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Top Skills for A Market Analyst

FinancialAnalysisNewProductDevelopmentMarketResearchDataCollectionStrategyMarketAnalysisPortfolioMarketTrendsRealEstateEnsureComplianceMarketDataEquityIncomeProductLineCustomerServiceAnalyticsBusinessDevelopmentCurrentMarketConditionsAdditionalDataAnalysis

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Top Market Analyst Skills

  1. Financial Analysis
  2. New Product Development
  3. Market Research
You can check out examples of real life uses of top skills on resumes here:
  • Performed financial analysis that directed the institution in daily investment decisions.
  • Lead new product development initiative for next generation exterior cladding platform.
  • Managed Frost and Sullivan market research vendor relationship.
  • Perform simple to complex customer data collection and analysis, provide insurance consultancy and handle the after sale customer service.
  • Researched and developed strategy for electric vehicle components.

Top Market Analyst Employers