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The differences between market researchers 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 researcher and a senior research analyst. Additionally, a senior research analyst has an average salary of $75,056, 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 senior research analyst are analytics, data analysis, and data collection.
| Market Researcher | Senior Research Analyst | |
| Yearly salary | $52,309 | $75,056 |
| Hourly rate | $25.15 | $36.08 |
| Growth rate | 19% | 19% |
| Number of jobs | 23,734 | 71,891 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 68% |
| 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.
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 researchers and senior research analysts have different pay scales, as shown below.
| Market Researcher | Senior Research Analyst | |
| Average salary | $52,309 | $75,056 |
| Salary range | Between $32,000 And $84,000 | Between $57,000 And $98,000 |
| Highest paying City | Linden, NJ | Olympia, WA |
| Highest paying state | Delaware | Washington |
| Best paying company | Meta | JPMorgan Chase & Co. |
| Best paying industry | Automotive | Finance |
There are a few differences between a market researcher and a senior research analyst in terms of educational background:
| Market Researcher | Senior Research Analyst | |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 68% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between market researchers' and senior research analysts' demographics:
| Market Researcher | Senior Research Analyst | |
| Average age | 37 | 37 |
| Gender ratio | Male, 48.4% Female, 51.6% | Male, 54.1% Female, 45.9% |
| 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, 11.2% Asian, 14.1% White, 65.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 10% | 10% |