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The differences between market researchers and research consultants 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 consultant. Additionally, a research consultant has an average salary of $83,492, 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 consultant are data collection, medicaid, and business development.
| Market Researcher | Research Consultant | |
| Yearly salary | $52,309 | $83,492 |
| Hourly rate | $25.15 | $40.14 |
| Growth rate | 19% | 19% |
| Number of jobs | 23,734 | 61,865 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 61% |
| 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 consultant is an individual who is responsible for collecting and analyzing multiple types of data across a variety of formats and present research reports for research and analytics companies, public institutions, and private businesses. Research consultants are required to design research strategies to complete the needs of research projects as well as create a basic plan of action for finding data. They may use online resources, phone surveys, and other data-collection methods to find and collect data. Research consultants must also assign investigative teams to verify and double-check the collected data.
Market researchers and research consultants have different pay scales, as shown below.
| Market Researcher | Research Consultant | |
| Average salary | $52,309 | $83,492 |
| Salary range | Between $32,000 And $84,000 | Between $60,000 And $115,000 |
| Highest paying City | Linden, NJ | New York, NY |
| Highest paying state | Delaware | New York |
| Best paying company | Meta | Microsoft |
| Best paying industry | Automotive | Education |
There are a few differences between a market researcher and a research consultant in terms of educational background:
| Market Researcher | Research Consultant | |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 61% |
| Most common major | Business | Psychology |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between market researchers' and research consultants' demographics:
| Market Researcher | Research Consultant | |
| Average age | 37 | 37 |
| Gender ratio | Male, 48.4% Female, 51.6% | Male, 48.2% Female, 51.8% |
| 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, 11.1% Asian, 14.0% White, 65.1% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 10% | 10% |