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The differences between market researchers and 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 researcher and a research analyst. Additionally, a research analyst has an average salary of $70,232, which is higher than the $52,309 average annual salary of a market researcher.
The top three skills for a market researcher include data analysis, primary research and data collection. The most important skills for a research analyst are data analysis, data collection, and research projects.
| Market Researcher | Research Analyst | |
| Yearly salary | $52,309 | $70,232 |
| Hourly rate | $25.15 | $33.77 |
| Growth rate | 19% | 19% |
| Number of jobs | 23,734 | 81,374 |
| Job satisfaction | 5 | 4.5 |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 70% |
| Average age | 37 | 37 |
| Years of experience | 6 | 6 |
In businesses, a market researcher is primarily responsible for performing market research and analysis. Although the extent of their duties usually depends on their place of employment, it typically includes coordinating with other experts, gathering and analyzing data, identifying new business opportunities, studying market activities, creating questionnaires, and developing test structures. Through their research findings, they must produce detailed reports and presentations for managers and even executives. Furthermore, as a market researcher, it is essential to understand the company's needs, including its vision and mission.
A research analyst is responsible for providing a company with insights and advice concerning finance, investments, and expenditures. Utilizing their analytical skills and extensive expertise in marketing, they analyze the trends and significant factors to conclude which decision should be the best to make. They can also take part in conducting an in-depth analysis of a business and examine which areas require improvement or has potential. Furthermore, they may work with a company or independently as a freelance analyst.
Market researchers and research analysts have different pay scales, as shown below.
| Market Researcher | Research Analyst | |
| Average salary | $52,309 | $70,232 |
| Salary range | Between $32,000 And $84,000 | Between $45,000 And $107,000 |
| Highest paying City | Linden, NJ | Seattle, WA |
| Highest paying state | Delaware | Washington |
| Best paying company | Meta | The Citadel |
| Best paying industry | Automotive | Finance |
There are a few differences between a market researcher and a research analyst in terms of educational background:
| Market Researcher | Research Analyst | |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 70% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between market researchers' and research analysts' demographics:
| Market Researcher | Research Analyst | |
| Average age | 37 | 37 |
| Gender ratio | Male, 48.4% Female, 51.6% | Male, 50.8% Female, 49.2% |
| Race ratio | Black or African American, 4.9% Unknown, 4.9% Hispanic or Latino, 11.7% Asian, 14.0% White, 64.3% 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% |