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Become A Market Research Consultant

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Working As A Market Research Consultant

  • 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

  • $86,000

    Average Salary

What Does A Market Research Consultant 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 Research Consultant

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 Research Consultant Jobs

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Market Research Consultant Career Paths

Market Research Consultant
Vice President Vice President And Manager Director Of Sales
Director Of Marketing & Development
9 Yearsyrs
Vice President Group Account Director Marketing Director
Brand Director
10 Yearsyrs
Vice President Sales Vice President Business Development Director
Director, Global Marketing
12 Yearsyrs
Market Research Manager Marketing Manager Marketing Director
Senior Director Of Marketing
12 Yearsyrs
Market Research Manager Marketing Manager Product Marketing Manager
Senior Product Marketing Manager
10 Yearsyrs
Market Research Manager Marketing Manager
Marketing And Operations Manager
5 Yearsyrs
Project Manager Senior Manager
Director Of Analytics
12 Yearsyrs
Project Manager Product Manager Sales And Marketing Manager
Business Development And Marketing Manager
7 Yearsyrs
Project Manager Product Manager Marketing Communications Manager
Events Marketing Manager
5 Yearsyrs
Senior Consultant Product Manager Product Marketing Manager
Marketing Manager, Global Marketing
8 Yearsyrs
Senior Consultant Program Manager Portfolio Manager
Strategist
6 Yearsyrs
Senior Consultant Development Manager Brand Manager
Head Of Marketing
5 Yearsyrs
Account Manager Senior Project Manager Senior Product Manager
Marketing Lead
5 Yearsyrs
Account Manager Business Manager Manager Finance Planning And Analysis
Pricing Manager
7 Yearsyrs
Research Manager Planning Manager
Manager, Strategy
8 Yearsyrs
Research Manager Brand Manager Social Media Manager
Online Marketing Manager
5 Yearsyrs
Research Manager Brand Manager Marketing Manager/Project Manager
Marketing Account Manager
5 Yearsyrs
Owner Owner And Founder Social Media Manager
Marketing Strategist
6 Yearsyrs
Business Development Manager Co-Founder Digital Marketing Manager
Brand Strategist
5 Yearsyrs
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Do you work as a Market Research Consultant?

Help others decide if this is a good career for them

Average Length of Employment
Research Director 3.5 years
Research Manager 3.2 years
Market Analyst 2.1 years
Research Analyst 2.0 years
Market Researcher 1.7 years
Top Careers Before Market Research Consultant
Consultant 9.3%
Internship 9.0%
Manager 3.5%
Analyst 3.3%
Top Careers After Market Research Consultant
Consultant 14.2%
Internship 4.0%
Director 3.5%
Owner 3.3%
Manager 3.3%

Do you work as a Market Research Consultant?

Average Yearly Salary
$86,000
View Detailed Salary Report
$53,000
Min 10%
$86,000
Median 50%
$86,000
Median 50%
$86,000
Median 50%
$86,000
Median 50%
$86,000
Median 50%
$86,000
Median 50%
$86,000
Median 50%
$140,000
Max 90%
Best Paying Company
Wells Fargo
Highest Paying City
Seattle, WA
Highest Paying State
Washington
Avg Experience Level
1.9 years
How much does a Market Research Consultant make at top companies?
The national average salary for a Market Research Consultant in the United States is $86,470 per year or $42 per hour. Those in the bottom 10 percent make under $53,000 a year, and the top 10 percent make over $140,000.

Real Market Research Consultant Salaries

Job Title Company Location Start Date Salary
Market Risk Consultant (Mathematical Modeling) Wells Fargo Securities, LLC. Charlotte, NC Oct 01, 2015 $162,500
Market Risk Consultant Wells Fargo Securities, LLC Charlotte, NC Aug 03, 2016 $162,500
Market Risk Consultant (Mathematical Modeling) Wells Fargo Securities, LLC New York, NY May 14, 2013 $143,000
Market Risk Consultant (Trading Systems) Wells Fargo Securities, LLC Charlotte, NC May 08, 2013 $141,000
International Go-To-Market Consultant Accenture LLP Northfield, IL Jun 04, 2010 $130,000
Market Access Consultant Team Trade USA LLC New York, NY Nov 01, 2010 $120,000
Market Research Consultant C1 Consulting LLC San Francisco, CA Sep 11, 2010 $120,000
Consultant I, Market Research CMFG Life Insurance Company Madison, WI Jan 03, 2016 $97,026
Market Consultant Ct Corporation Systems New York, NY Aug 07, 2014 $96,096 -
$120,000
Market Research Consultant Lightfish Technology Inc. Mountain View, CA Jun 12, 2011 $96,000
Market Research Consultant Lightfish Technology Inc. Mountain View, CA Oct 01, 2011 $96,000
Market Risk Consultant Murex North America, Inc. New York, NY Jul 02, 2012 $95,000
Market Research and Pricing Consultant Pro Unlimited, Inc. Boston, MA Dec 09, 2016 $93,600
Market Information Consultant CP Bank of America N.A. Charlotte, NC Jul 01, 2011 $90,043 -
$110,000
Market Research Consultant Caterpillar Inc. Peoria, IL Sep 30, 2010 $75,384
Market Information Consultant CP Bank of America N.A. Charlotte, NC May 01, 2011 $75,000 -
$95,000
Market Research Consultant Attune LLC San Francisco, CA Sep 10, 2015 $72,000
Market Research Consultant Clear USA, LLC New York, NY Jul 30, 2015 $71,500
Senior Market Research Consultant Informa Business Intelligence, Inc. Memphis, TN Sep 03, 2016 $71,395
Market Information Consultant CP Bank of America N.A. New York, NY May 17, 2013 $70,000 -
$90,000
Market Research Consultant Synovate Management Analytics Inc. New York, NY Sep 09, 2015 $70,000
Market Research Consultant Informa Economics, Inc. Memphis, TN Oct 01, 2011 $55,000
TPM Consultant Latin America and Domestic Markets Marshall Institute, Inc. Raleigh, NC Nov 21, 2011 $52,250 -
$85,000
Market Research Consultant Aqua Market of Weston, Inc. Margate, FL Oct 23, 2012 $52,175
Hospitality Industry Market Research Consultant Hospitality Advisors LLC Urban Honolulu, HI Apr 04, 2014 $52,000
TPM Consultant Latin America and Domestic Markets Marshall Institute Inc. Raleigh, NC Nov 15, 2009 $51,000
Market Research Consultant Reussir, Inc. Jackson, NY Sep 23, 2013 $50,088 -
$52,175
Market Research Consultant Mind Genomics Associates Inc. White Plains, NY Sep 09, 2015 $50,000

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Top Skills for A Market Research Consultant

  1. Market Research
  2. Strategic Recommendations
  3. New Product Development
You can check out examples of real life uses of top skills on resumes here:
  • Administered an online primary market research survey designed to identify physician prescribing patterns in the HIV therapeutic area.
  • Analyzed market and trend data to formulate strategic recommendations for entering new markets.
  • Market Research Specialist Inside Account Rep Managed business-to-business and consumer research studies for a leading financial services company.
  • Earned Certificate of Recognition for Flexible and quality customer service and fostering of professional and respectful relationships during this research effort.
  • Solved database questions from clients with specific requests focused on possibility and potential of data elements to drive business development initiatives.

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Top 10 Best States for Market Research Consultants

  1. Delaware
  2. Rhode Island
  3. New Jersey
  4. New York
  5. Massachusetts
  6. Texas
  7. Minnesota
  8. District of Columbia
  9. Virginia
  10. Washington
  • (31 jobs)
  • (49 jobs)
  • (295 jobs)
  • (568 jobs)
  • (378 jobs)
  • (607 jobs)
  • (216 jobs)
  • (143 jobs)
  • (443 jobs)
  • (219 jobs)

Market Research Consultant Demographics

Gender

Male

47.0%

Female

41.6%

Unknown

11.4%
Ethnicity

White

56.6%

Asian

14.8%

Hispanic or Latino

14.0%

Black or African American

10.7%

Unknown

3.9%
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Foreign Languages Spoken

Spanish

31.6%

French

11.0%

Chinese

10.3%

Mandarin

9.0%

Portuguese

7.1%

Russian

5.2%

Italian

4.5%

Japanese

4.5%

Hindi

3.2%

German

3.2%

Arabic

2.6%

Swedish

1.3%

Vietnamese

1.3%

Ukrainian

1.3%

Telugu

0.6%

Gujarati

0.6%

Indonesian

0.6%

Armenian

0.6%

Tamil

0.6%

Kannada

0.6%
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Market Research Consultant Education

Schools

New York University

8.3%

University of Connecticut

7.3%

University of California - San Diego

6.7%

University of Phoenix

6.2%

Arizona State University

5.7%

University of Texas at Austin

5.2%

Cornell University

5.2%

Columbia University

5.2%

Boston University

5.2%

George Washington University

4.7%

Pennsylvania State University

4.7%

Fordham University

4.7%

Syracuse University

4.1%

University of Pennsylvania

4.1%

Stanford University

4.1%

Thunderbird School of Global Management

4.1%

Brigham Young University

3.6%

University of Iowa

3.6%

Harvard University

3.6%

University of Massachusetts Amherst

3.6%
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Majors

Business

31.9%

Marketing

17.6%

Finance

9.1%

Management

7.2%

Economics

5.2%

Communication

3.9%

Psychology

3.3%

Accounting

2.5%

International Business

2.1%

Political Science

2.1%

Management Science

1.9%

Public Administration

1.8%

Health Care Administration

1.8%

Sociology

1.8%

English

1.4%

Anthropology

1.3%

Public Relations

1.3%

Computer Science

1.2%

Project Management

1.2%

Mathematics

1.2%
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Degrees

Masters

46.7%

Bachelors

34.1%

Other

10.3%

Doctorate

4.1%

Certificate

2.6%

Associate

1.8%

Diploma

0.4%

License

0.1%
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