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The differences between market research consultants and senior 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 senior research analyst. Additionally, a market research consultant has an average salary of $85,073, which is higher than the $75,056 average annual salary of a senior research analyst.
The top three skills for a market research consultant include client facing, risk management and powerpoint. The most important skills for a senior research analyst are analytics, data analysis, and data collection.
| Market Research Consultant | Senior Research Analyst | |
| Yearly salary | $85,073 | $75,056 |
| Hourly rate | $40.90 | $36.08 |
| Growth rate | 19% | 19% |
| Number of jobs | 76,424 | 71,891 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 68% |
| 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.
The duties of a senior research analyst depend on one's line of work or industry of employment. Typically, their responsibilities revolve around coordinating with different departments to gather necessary data, performing research and analysis to identify consumer and market needs, finding new business opportunities, and devising strategies to optimize workflow and workforce processes. Furthermore, as a senior research analyst, it is essential to lead and encourage the team members and serve as a mentor to junior analysts, all while implementing the company's policies and regulations.
Market research consultants and senior research analysts have different pay scales, as shown below.
| Market Research Consultant | Senior Research Analyst | |
| Average salary | $85,073 | $75,056 |
| Salary range | Between $54,000 And $132,000 | Between $57,000 And $98,000 |
| Highest paying City | Renton, WA | Olympia, WA |
| Highest paying state | Washington | Washington |
| Best paying company | Invesco | JPMorgan Chase & Co. |
| Best paying industry | - | Finance |
There are a few differences between a market research consultant and a senior research analyst in terms of educational background:
| Market Research Consultant | Senior Research Analyst | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 68% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between market research consultants' and senior research analysts' demographics:
| Market Research Consultant | Senior Research Analyst | |
| Average age | 37 | 37 |
| Gender ratio | Male, 53.1% Female, 46.9% | Male, 54.1% Female, 45.9% |
| 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, 11.2% Asian, 14.1% White, 65.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 10% | 10% |