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Become A Market Specialist

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Working As A Market Specialist

  • Analyzing Data or Information
  • Getting Information
  • Interacting With Computers
  • Interpreting the Meaning of Information for Others
  • Communicating with Supervisors, Peers, or Subordinates
  • Mostly Sitting

  • Make Decisions

  • $76,000

    Average Salary

What Does A Market Specialist Do

Market research analysts study market conditions to examine potential sales of a product or service. They help companies understand what products people want, who will buy them, and at what price.

Duties

Market research analysts typically do the following:

  • Monitor and forecast marketing and sales trends
  • Measure the effectiveness of marketing programs and strategies
  • Devise and evaluate methods for collecting data, such as surveys, questionnaires, and opinion polls
  • Gather data on consumers, competitors, and market conditions
  • Analyze data using statistical software
  • Convert complex data and findings into understandable tables, graphs, and written reports
  • Prepare reports and present results to clients and management

Market research analysts research and gather data to help a company market its products or services. They gather data on consumer demographics, preferences, needs, and buying habits. They collect data and information using a variety of methods, such as interviews, questionnaires, focus groups, market analysis surveys, public opinion polls, and literature reviews.

Analysts help determine a company’s position in the marketplace by researching their competitors and analyzing their prices, sales, and marketing methods. Using this information, they may determine potential markets, product demand, and pricing. Their knowledge of the targeted consumer enables them to develop advertising brochures and commercials, sales plans, and product promotions. 

Market research analysts evaluate data using statistical techniques and software. They must interpret what the data mean for their client, and they may forecast future trends. They often make charts, graphs, infographics, and other visual aids to present the results of their research. 

Workers who design and conduct surveys are known as survey researchers.

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How To Become A Market Specialist

Most market research analysts need at least a bachelor’s degree. Top research positions may require a master’s degree. Strong math and analytical skills are essential. 

Education

Market research analysts typically need a bachelor’s degree in market research or a related field. Many have degrees in fields such as statistics, math, and computer science. Others have backgrounds in business administration, the social sciences, or communications.

Courses in statistics, research methods, and marketing are essential for these workers. Courses in communications and social sciences, such as economics or consumer behavior, are also important.

Some market research analyst jobs require a master’s degree. Several schools offer graduate programs in marketing research, but many analysts complete degrees in other fields, such as statistics and marketing, and/or earn a master’s degree in business administration (MBA). A master’s degree is often required for leadership positions or positions that perform more technical research. 

Licenses, Certifications, and Registrations

Certification is voluntary, but analysts may pursue certification to demonstrate a level of professional competency. The Marketing Research Association offers the Professional Researcher Certification (PRC) for market research analysts. Candidates qualify based on experience and knowledge; they must pass an exam, be a member of a professional organization, and have at least 3 years working in opinion and marketing research. Individuals must complete 20 hours of industry-related continuing education courses every 2 years to renew their certification.

Important Qualities

Analytical skills. Market research analysts must be able to understand large amounts of data and information. 

Communication skills. Market research analysts need strong communication skills when gathering information, interpreting data, and presenting results to clients. 

Critical-thinking skills. To determine what marketing strategy would work best for a company, market research analysts must assess all available information.

Detail oriented. Market research analysts must be detail oriented because they often do precise data analysis.

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Market Specialist Career Paths

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Average Yearly Salary
$76,000
Show Salaries
$44,000
Min 10%
$76,000
Median 50%
$76,000
Median 50%
$76,000
Median 50%
$76,000
Median 50%
$76,000
Median 50%
$76,000
Median 50%
$76,000
Median 50%
$131,000
Max 90%
Best Paying Company
BP America
Highest Paying City
Austin, TX
Highest Paying State
Delaware
Avg Experience Level
2.5 years
How much does a Market Specialist make at top companies?
The national average salary for a Market Specialist in the United States is $76,757 per year or $37 per hour. Those in the bottom 10 percent make under $44,000 a year, and the top 10 percent make over $131,000.

Real Market Specialist Salaries

Job Title Company Location Start Date Salary
Equity Buy Side Market Specialist Bloomberg, LP New York, NY May 26, 2015 $200,000
Senior Market Specialist Calypso Technology, Inc. New York, NY Nov 19, 2014 $170,000
Application-Interest Rate Derivative Market Specialist Bloomberg, LP New York, NY Oct 01, 2015 $167,000
Senior Market Specialist (Presales) Calypso Technology, Inc. New York, NY Nov 12, 2013 $165,152 -
$190,800
Senior Market Specialist Calypso Technology, Inc. New York, NY Nov 17, 2014 $156,125
Product Market Specialist Calypso Technology, Inc. San Francisco, CA May 01, 2016 $140,355
Market Specialist-Hedge Accounting Bloomberg, LP New York, NY Sep 08, 2014 $135,000
Search Engine Market Specialist Audible, Inc. Newark, NJ Sep 11, 2015 $131,019
Search Engine Market Specialist Audible, Inc. Newark, NJ Oct 19, 2016 $131,019
Ecommerce Market Specialist-Partnerships World First USA, Inc. Austin, TX Aug 31, 2016 $130,000
Capital Markets Specialist Citibank, N.A. New York, NY Jan 06, 2014 $130,000
International Country Market Specialist Morgan Stanley Smith Barney LLC New York, NY Oct 19, 2016 $125,000
International Country Market Specialist Morgan Stanley Smith Barney LLC New York, NY Apr 21, 2016 $125,000
Market Specialist Mphasis Corporation San Jose, CA Sep 14, 2016 $114,338
International City Market Specialist Morgan Stanley Smith Barney LLC New York, NY Aug 02, 2014 $99,996
Market Specialist Calypso Technology, Inc. New York, NY May 04, 2013 $99,000 -
$149,000
LED Lighting Market Specialist 8 Plus Construction, Inc. Sunnyvale, CA Sep 04, 2014 $96,000
LED Lighting Market Specialist 8 Plus, Inc. Sunnyvale, CA Sep 05, 2014 $96,000
Specialist, Market Intelligence Tripadvisor LLC Needham, MA Feb 26, 2016 $92,997 -
$100,356
Specialist, Market Intelligence Tripadvisor LLC Newton, MA Sep 02, 2015 $90,000 -
$103,500
International Market Specialist I.P.S. Services, Inc. Houston, TX Jun 17, 2014 $90,000
Senior Energy Imbalance Market Specialist Pacificorp Portland, OR Sep 11, 2015 $90,000
International Market Specialist Everax Textile Inc. New York, NY May 10, 2016 $61,796
Market Specialist-Senior Cummins Inc. Shoreview, MN Aug 01, 2015 $61,600 -
$84,700
Market Specialist Ascend Foundation Inc. New York, NY Jun 15, 2014 $60,252
Market Specialist, US Ooh USA Corp Miami, FL Jun 01, 2015 $60,000
Market Specialist Axiom Capital Management, Inc. New York, NY Oct 01, 2013 $60,000
Market Specialist Financial Technologies Forum LLC New York, NY Sep 24, 2013 $60,000
Market Specialist Trustlook Inc. San Jose, CA Sep 11, 2015 $60,000

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Top Skills for A Market Specialist

  1. Product Knowledge
  2. Customer Service
  3. Market Research
You can check out examples of real life uses of top skills on resumes here:
  • Facilitated and delivered effective training for new and existing clients to increase product knowledge, expand positioning/penetration and revenue generation.
  • Initiated site optimization for new consumer and business products that resulted in fewer customer service calls and increased site engagement.
  • Conduct market research, Recruit sellers to secure competition for optimizing purchasing efficiency for government, businesses, and educational institutions.
  • Managed Product Line and Development data to uphold data integrity.
  • Follow implemented policies/procedures to ensure compliance with appropriate statues and regulations; remain 100% compliant on mandatory training requirements.

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Top 10 Best States for Market Specialists

  1. Minnesota
  2. Delaware
  3. Massachusetts
  4. New York
  5. Texas
  6. Rhode Island
  7. New Jersey
  8. District of Columbia
  9. Michigan
  10. Pennsylvania
  • (395 jobs)
  • (50 jobs)
  • (548 jobs)
  • (831 jobs)
  • (945 jobs)
  • (50 jobs)
  • (394 jobs)
  • (128 jobs)
  • (433 jobs)
  • (747 jobs)

Market Specialist Demographics

Gender

Male

47.7%

Female

41.8%

Unknown

10.5%
Ethnicity

White

60.0%

Hispanic or Latino

17.0%

Black or African American

10.3%

Asian

8.5%

Unknown

4.1%
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Foreign Languages Spoken

Spanish

46.2%

French

14.3%

Portuguese

4.2%

Chinese

4.2%

Russian

3.4%

Arabic

3.4%

Romanian

2.5%

Mandarin

2.5%

Urdu

2.5%

Italian

2.5%

German

2.5%

Vietnamese

1.7%

Georgian

1.7%

Dari

1.7%

Dakota

1.7%

Polish

1.7%

Swedish

0.8%

Hausa

0.8%

Hindi

0.8%

Korean

0.8%
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Market Specialist Education

Schools

University of Phoenix

14.5%

Washington State University

9.7%

Florida State University

5.5%

Webster University

4.8%

George Mason University

4.8%

San Jose State University

4.2%

Northern Kentucky University

4.2%

West Virginia University

4.2%

San Diego State University

4.2%

University of Wisconsin - Milwaukee

4.2%

University of Houston

4.2%

University of Oregon

4.2%

University of Texas at Austin

4.2%

Liberty University

4.2%

American University

4.2%

University of Alabama

3.6%

New York University

3.6%

University of Cincinnati

3.6%

University of California - Irvine

3.6%

Arizona State University

3.6%
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Majors

Business

33.0%

Marketing

11.5%

Finance

8.9%

Communication

7.1%

Management

4.4%

Economics

4.3%

Accounting

4.3%

Psychology

3.4%

Political Science

2.8%

Public Relations

2.6%

Biology

2.2%

English

2.0%

Nursing

1.8%

Sociology

1.8%

General Education, Specific Areas

1.8%

Criminal Justice

1.7%

Health Care Administration

1.7%

Liberal Arts

1.6%

Advertising

1.6%

International Business

1.3%
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Degrees

Bachelors

52.1%

Masters

20.7%

Other

14.9%

Associate

6.3%

Certificate

2.8%

Doctorate

1.5%

Diploma

1.1%

License

0.6%
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