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The differences between market research consultants 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 research consultant and a market research analyst. Additionally, a market research consultant has an average salary of $85,073, which is higher than the $51,688 average annual salary of a market research analyst.
The top three skills for a market research consultant include client facing, risk management and powerpoint. The most important skills for a market research analyst are powerpoint, data analysis, and SPSS.
| Market Research Consultant | Market Research Analyst | |
| Yearly salary | $85,073 | $51,688 |
| Hourly rate | $40.90 | $24.85 |
| Growth rate | 19% | 19% |
| Number of jobs | 76,424 | 71,240 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 72% |
| Average age | 37 | 37 |
| Years of experience | 6 | 6 |
A market research consultant specializes in developing and recommending strategies to optimize a company's marketing operations. They perform extensive market research and analysis, gather and analyze client feedback, spearhead surveys and studies to determine how the current marketing projects affect the consumers, and develop social media techniques to raise brand awareness and public interest. Using their research findings, a market research consultant develops conclusions and recommendations that adhere to the company's goals. Moreover, there are instances when a market research consultant participates in planning and creating marketing programs and materials.
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 research consultants and market research analysts have different pay scales, as shown below.
| Market Research Consultant | Market Research Analyst | |
| Average salary | $85,073 | $51,688 |
| Salary range | Between $54,000 And $132,000 | Between $36,000 And $73,000 |
| Highest paying City | Renton, WA | Seattle, WA |
| Highest paying state | Washington | Delaware |
| Best paying company | Invesco | Imply |
| Best paying industry | - | Technology |
There are a few differences between a market research consultant and a market research analyst in terms of educational background:
| Market Research Consultant | Market Research Analyst | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between market research consultants' and market research analysts' demographics:
| Market Research Consultant | Market Research Analyst | |
| Average age | 37 | 37 |
| Gender ratio | Male, 53.1% Female, 46.9% | Male, 51.2% Female, 48.8% |
| Race ratio | Black or African American, 4.8% Unknown, 4.9% Hispanic or Latino, 11.4% Asian, 14.5% White, 64.2% 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% |