A market research analyst is a professional 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.

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Market Research Analyst Responsibilities

Here are examples of responsibilities from real market research analyst resumes representing typical tasks they are likely to perform in their roles.

  • Manage thousands of accounts using CRM software such as SalesForce.
  • Lead CRM presentation including product demo with business benefits to the client.
  • Manage vendor selection process from developing the RFP, negotiating pricing to recommending vendors for selection.
  • Manage and evaluate income restrict housing market conditions and incorporate analysis into final written client reports.
  • Manage a variety of projects including survey development, analysis of operations, and all data analytics.
  • Perform statistical analysis using Minitab and SPSS.
  • Conduct primary research of aftermarket warranty products and analyze results using SPSS.
  • Translate statistical data into strategic, relevant, concise and insightful PowerPoint data stories and present to stakeholders.
  • Assist with CRM reporting in SalesForce.
  • Used SAS and gamma regression to do price prediction on district market data.
  • Appropriate testing methods and procedures in SAS are considered before designing the survey.
  • Upgrade and maintain database to meet new guidelines set by company or management.
  • Maintain the research database, renew and improve it by SQL server and SAS9.3.
  • Publicize, co-edit, and create content for the global website and LinkedIn page.
  • Require excellent written and verbal communication skills as well as excellent PC and organizational skills.

Market Research Analyst Job Description

Perhaps the hardest question to answer when deciding on a career as a Market Research Analyst is "should I become a Market Research Analyst?" You might find this info to be helpful. When compared to other jobs, Market Research Analyst careers are projected to have a growth rate described as "much faster than average" at 20% from 2018 through 2028. This is in accordance with the Bureau of Labor Statistics. What's more, is that the projected number of opportunities that are predicted to become available for a Market Research Analyst by 2028 is 139,200.

Market Research Analysts average about $23.87 an hour, which makes the Market Research Analyst annual salary $49,648. Additionally, Market Research Analysts are known to earn anywhere from $35,000 to $69,000 a year. This means that the top-earning Market Research Analysts make $34,000 more than the lowest earning ones.

Once you've become a Market Research Analyst, you may be curious about what other opportunities are out there. Careers aren't one size fits all. For that reason, we discovered some other jobs that you may find appealing. Some jobs you might find interesting include an Analyst Sales, Analyst, Data Analyst Internship, and Product Analyst.

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12 Market Research Analyst Resume Examples

Market Research Analyst Skills and Personality Traits

We calculated that 16% of Market Research Analysts are proficient in Market Research, Data Analysis, and Powerpoint. They’re also known for soft skills such as Analytical skills, Communication skills, and Detail oriented.

We break down the percentage of Market Research Analysts that have these skills listed on their resume here:

  • Market Research, 16%

    Encompassed strategic business research and analysis in developing business plans and market research in support of organization's initiatives and future direction

  • Data Analysis, 9%

    Provided full research services for business-to-business and business-to-government data analysis on federal, state and local business and IT needs.

  • Powerpoint, 7%

    Prepared reports, interpreted results and communicated findings using Excel and PowerPoint for client presentations and senior staff speaking engagements.

  • Spss, 4%

    Analyzed data using descriptive and inferential statistics using multivariate techniques and SPSS Statistics software.

  • Data Collection, 4%

    Performed regular data collection and analysis using Microsoft Excel and stored information for use in publications and by colleagues.

  • Competitive Intelligence, 3%

    Partnered with peers and upper level management facilitating revenue growth through competitive intelligence reports and detailed executive level summaries.

Some of the skills we found on Market Research Analyst resumes included "Market Research," "Data Analysis," and "Powerpoint." We have detailed the most important Market Research Analyst responsibilities below.

  • The most important skills for a Market Research Analyst to have in this position are Analytical skills. In this excerpt that we gathered from a Market Research Analyst resume, you'll understand why: "Market research analysts must be able to understand large amounts of data and information." According to resumes we found, Analytical skills can be used by a Market Research Analyst in order to "Analyzed data on customer demographics, preferences and buying habits to identify demand motivation factors. "
  • Another commonly found skill for being able to perform Market Research Analyst duties is the following: Communication skills. According to a Market Research Analyst resume, "Market research analysts need strong communication skills when gathering information, interpreting data, and presenting results to clients." Check out this example of how Market Research Analysts use Communication skills: "Measured the effectiveness of marketing, advertising, and communications programs and strategies, ROI. "
  • Market Research Analysts are also known for Detail oriented, which can be critical when it comes to performing their duties. An example of why this skill is important is shown by this snippet that we found in a Market Research Analyst resume: "Market research analysts must be detail oriented because they often do precise data analysis." We also found this resume example that details how this skill is put to the test: "Provide detailed analysis of real estate market metrics and specific properties for senior management to use in the decision making process. "
  • See the full list of Market Research Analyst skills.

    After discovering the most helpful skills, we moved onto what kind of education might be helpful in becoming a Market Research Analyst. We found that 72.0% of Market Research Analysts have graduated with a bachelor's degree and 19.5% of people in this position have earned their master's degrees. While most Market Research Analysts have a college degree, you may find it's also true that generally it's impossible to be successful in this career with only a high school degree. In fact, our research shows that one out of every nine Market Research Analysts were not college graduates.

    Those Market Research Analysts who do attend college, typically earn either Business degrees or Marketing degrees. Less commonly earned degrees for Market Research Analysts include Economics degrees or Finance degrees.

    When you're ready to become a Market Research Analyst, you might wonder which companies hire Market Research Analysts. According to our research through Market Research Analyst resumes, Market Research Analysts are mostly hired by Cenveo, Fisher Investments, and Best. Now is a good time to apply as Cenveo has 8 Market Research Analysts job openings, and there are 7 at Fisher Investments and 6 at Best.

    But if you're interested in companies where you might earn a high salary, Market Research Analysts tend to earn the biggest salaries at Microsoft, Dell, and eBay. Take Microsoft for example. The median Market Research Analyst salary is $103,575. At Dell, Market Research Analysts earn an average of $99,807, while the average at eBay is $97,159. You should take into consideration how difficult it might be to secure a job with one of these companies.

    View more details on Market Research Analyst salaries across the United States.

    We also looked into companies who hire Market Research Analysts from the top 100 educational institutions in the U.S. The top three companies that hire the most from these institutions include CoStar Group, Wells Fargo, and JPMorgan Chase.

    For the most part, Market Research Analysts make their living in the Technology and Manufacturing industries. Market Research Analysts tend to make the most in the Telecommunication industry with an average salary of $58,898. The Market Research Analyst annual salary in the Technology and Health Care industries generally make $56,406 and $56,280 respectively. Additionally, Market Research Analysts who work in the Telecommunication industry make 14.9% more than Market Research Analysts in the Retail Industry.

    The three companies that hire the most prestigious market research analysts are:

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      What Analyst Saless Do

      Analyst sales, or a sales analyst, is a professional who is responsible for increasing sales and revenue of a company by running competitive analysis and making recommendations on how the marketing and sales team should move forward. Sales analysts must assist in the review of monthly financial statements and prepare complex financial statements for retail and service businesses. They develop and provide market intelligence data solutions for the sales team to maximize territory sales efforts. Sales analysts must also maintain a business relationship with key account top management to deliver outstanding customer service and assistance.

      In this section, we compare the average Market Research Analyst annual salary with that of an Analyst Sales. Typically, Analyst Sales earn a $13,772 higher salary than Market Research Analysts earn annually.

      While the salaries between these two careers can be different, they do share some of the same responsibilities. Employees in both Market Research Analysts and Analyst Sales positions are skilled in Market Research, Data Analysis, and SQL.

      There are some key differences in responsibilities as well. For example, a Market Research Analyst responsibilities require skills like "Powerpoint," "Spss," "Data Collection," and "Competitive Intelligence." Meanwhile a typical Analyst Sales has skills in areas such as "Customer Service," "Salesforce," "CRM," and "Product Category." This difference in skills reveals how truly different these two careers really are.

      Analyst Sales tend to make the most money in the Retail industry by averaging a salary of $65,854. In contrast, Market Research Analysts make the biggest average salary of $58,898 in the Telecommunication industry.

      The education levels that Analyst Sales earn is a bit different than that of Market Research Analysts. In particular, Analyst Sales are 15.2% less likely to graduate with a Master's Degree than a Market Research Analyst. Additionally, they're 0.9% less likely to earn a Doctoral Degree.

      What Are The Duties Of an Analyst?

      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.

      Next up, we have the Analyst profession to look over. This career brings along a higher average salary when compared to a Market Research Analyst annual salary. In fact, Analysts salary difference is $20,002 higher than the salary of Market Research Analysts per year.

      While the salary may be different for these job positions, there is one similarity and that's a few of the skills needed to perform certain duties. We used info from lots of resumes to find that both Market Research Analysts and Analysts are known to have skills such as "Market Research," "Data Analysis," and "Data Collection. "

      While some skills are similar in these professions, other skills aren't so similar. For example, several resumes showed us that Market Research Analyst responsibilities requires skills like "Powerpoint," "Spss," "Competitive Intelligence," and "Research Projects." But an Analyst might use skills, such as, "Procedures," "Customer Service," "Troubleshoot," and "Management System."

      Analysts may earn a higher salary than Market Research Analysts, but Analysts earn the most pay in the Technology industry with an average salary of $74,694. On the other side of things, Market Research Analysts receive higher paychecks in the Telecommunication industry where they earn an average of $58,898.

      On the topic of education, Analysts earn lower levels of education than Market Research Analysts. In general, they're 14.8% less likely to graduate with a Master's Degree and 0.9% more likely to earn a Doctoral Degree.

      How a Data Analyst Internship Compares

      A data analyst internship involves a trainee who wants to gain working experience in the field of information technology (IT) by assisting data analyst professionals. Data analyst interns should examine information using data analysis tools so that they can help their employers make important decisions by identifying various facts and trends. They write reports and present them to the management to provide new insights about new trends and areas for improvement. Data analyst interns can find work in areas such as banks, specialist software development companies, and consultancies.

      The third profession we take a look at is Data Analyst Internship. On an average scale, these workers bring in lower salaries than Market Research Analysts. In fact, they make a $24,534 lower salary per year.

      By looking over several Market Research Analysts and Data Analyst Interns resumes, we found that both roles utilize similar skills, such as "Market Research," "Data Analysis," and "Spss." But beyond that the careers look very different.

      Some important key differences between the two careers are a few of the skills necessary to fulfill responsibilities. Some examples from Market Research Analyst resumes include skills like "Powerpoint," "Competitive Intelligence," "Research Projects," and "Primary Research," whereas a Data Analyst Internship might be skilled in "Python," "Data Extraction," "Data Visualization," and "BI. "

      Interestingly enough, Data Analyst Interns earn the most pay in the Technology industry, where they command an average salary of $41,987. As mentioned previously, Market Research Analysts highest annual salary comes from the Telecommunication industry with an average salary of $58,898.

      When it comes to education, Data Analyst Interns tend to earn similar education levels than Market Research Analysts. In fact, they're 0.4% less likely to earn a Master's Degree, and 0.3% less likely to graduate with a Doctoral Degree.

      Description Of a Product Analyst

      A product analyst job utilizes data analysis software and notates trends in market research. Primarily, analysts project the costs of product development and marketing. They think of the possibilities for profit and sales and monitor the performance of products on the market to come up with a better product. Their responsibilities include company product evaluation, product understanding, and product rating reviews. Familiarity with Microsoft Office Suite, strong communication skills, and proficiency in database software is necessary for this job.

      Product Analysts tend to earn a higher pay than Market Research Analysts by about $26,199 per year.

      While their salaries may vary, Market Research Analysts and Product Analysts both use similar skills to perform their jobs. Resumes from both professions include skills like "Market Research," "Data Analysis," and "Powerpoint. "

      Each job requires different skills like "Spss," "Data Collection," "Research Projects," and "Primary Research," which might show up on a Market Research Analyst resume. Whereas Product Analyst might include skills like "User Interface," "Business Process," "Tableau," and "Product Management."

      In general, Product Analysts make a higher salary in the Health Care industry with an average of $92,790. The highest Market Research Analyst annual salary stems from the Telecommunication industry.

      Product Analysts reach lower levels of education when compared to Market Research Analysts. The difference is that they're 8.3% more likely to earn a Master's Degree less, and 0.1% more likely to graduate with a Doctoral Degree.