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The differences between market research analysts and analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a market research analyst, becoming an analyst takes usually requires 2-4 years. Additionally, an analyst has an average salary of $73,007, which is higher than the $51,688 average annual salary of a market research analyst.
The top three skills for a market research analyst include powerpoint, data analysis and SPSS. The most important skills for an analyst are customer service, troubleshoot, and data analysis.
| Market Research Analyst | Analyst | |
| Yearly salary | $51,688 | $73,007 |
| Hourly rate | $24.85 | $35.10 |
| Growth rate | 19% | 11% |
| Number of jobs | 71,240 | 253,138 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 67% |
| Average age | 37 | 44 |
| Years of experience | 6 | 4 |
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.
Analysts are employees or individual contributors with a vast experience in a particular field that help the organization address challenges. They help the organization improve processes, policies, and other operations protocol by studying the current processes in place and determining the effectiveness of those processes. They also research industry trends and data to make sound inferences and recommendations on what the company should do to improve their numbers. Analysts recommend business solutions and often help the organization roll out these solutions. They ensure that the proposed action plans are effective and produce the desired results.
Market research analysts and analysts have different pay scales, as shown below.
| Market Research Analyst | Analyst | |
| Average salary | $51,688 | $73,007 |
| Salary range | Between $36,000 And $73,000 | Between $53,000 And $99,000 |
| Highest paying City | Seattle, WA | Jersey City, NJ |
| Highest paying state | Delaware | New Jersey |
| Best paying company | Imply | The Citadel |
| Best paying industry | Technology | Technology |
There are a few differences between a market research analyst and an analyst in terms of educational background:
| Market Research Analyst | Analyst | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Georgia | Northwestern University |
Here are the differences between market research analysts' and analysts' demographics:
| Market Research Analyst | Analyst | |
| Average age | 37 | 44 |
| Gender ratio | Male, 51.2% Female, 48.8% | Male, 52.4% Female, 47.6% |
| Race ratio | 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% | Black or African American, 7.4% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.3% White, 65.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 10% | 12% |