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The differences between market analysts and market research analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a market analyst and a market research analyst. Additionally, a market analyst has an average salary of $61,606, which is higher than the $51,688 average annual salary of a market research analyst.
The top three skills for a market analyst include analytics, market research and provide management. The most important skills for a market research analyst are powerpoint, data analysis, and SPSS.
| Market Analyst | Market Research Analyst | |
| Yearly salary | $61,606 | $51,688 |
| Hourly rate | $29.62 | $24.85 |
| Growth rate | 19% | 19% |
| Number of jobs | 35,278 | 71,240 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 72% |
| Average age | 37 | 37 |
| Years of experience | 6 | 6 |
A market analyst is responsible for examining relevant information that will aid the organization to make informed decisions on market strategy. You will be responsible for assessing consumer preferences that will help the company decide how to advertise and market their products. Other typical duties that you will perform may include devising and evaluating methods for gathering data such as opinion polls, surveys, and questionnaires, interpreting the data and organizing this into statistical reports and tables, and creating visuals of industry trends.
A market research analyst is an individual who studies the market conditions so that he/she or she can examine the potential sales of an organization's product or service. Market research analysts are required to devise and evaluate methods for collecting data such as surveys, focus groups, and opinion polls. They must interpret the data they have collected and presented their findings to executives and clients to help them make better-informed decisions. Market research analysts are also required to create visuals of industry trends and competitors so the company can predict how it fares in the marketplace.
Market analysts and market research analysts have different pay scales, as shown below.
| Market Analyst | Market Research Analyst | |
| Average salary | $61,606 | $51,688 |
| Salary range | Between $41,000 And $90,000 | Between $36,000 And $73,000 |
| Highest paying City | Seattle, WA | Seattle, WA |
| Highest paying state | Delaware | Delaware |
| Best paying company | Intuitive Surgical | Imply |
| Best paying industry | Finance | Technology |
There are a few differences between a market analyst and a market research analyst in terms of educational background:
| Market Analyst | Market Research Analyst | |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between market analysts' and market research analysts' demographics:
| Market Analyst | Market Research Analyst | |
| Average age | 37 | 37 |
| Gender ratio | Male, 61.0% Female, 39.0% | Male, 51.2% Female, 48.8% |
| Race ratio | Black or African American, 4.8% Unknown, 4.9% Hispanic or Latino, 11.3% Asian, 14.4% White, 64.5% American Indian and Alaska Native, 0.1% | Black or African American, 4.7% Unknown, 4.9% Hispanic or Latino, 11.3% Asian, 14.3% White, 64.7% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 10% | 10% |