A product analyst performs market research on new products and projects the costs. They later go on to launch strategies based on their analysis. Product analysts are responsible for coming up with marketing strategies for a product and monitoring its performance in the market.
Product analysts are essential when a company is releasing a new product or making changes to an existing one. A successful product analyst possesses written and verbal communication skills, analytical abilities, and are up-to-date on prevailing industry news. Product analysts work closely with other departments, such as marketing, finance, and IT, to execute their work efficiently.
Product analysts work 40 hours a week, from Monday to Friday. Their role is very demanding and it might require them to work late evenings and weekends occasionally.
There is more than meets the eye when it comes to being a product analyst. For example, did you know that they make an average of $35.79 an hour? That's $74,440 a year!
Between 2018 and 2028, the career is expected to grow 14% and produce 118,300 job opportunities across the U.S.
There are certain skills that many product analysts have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed interpersonal skills, problem-solving skills and time-management skills.
When it comes to the most important skills required to be a product analyst, we found that a lot of resumes listed 8.0% of product analysts included user interface, while 7.0% of resumes included business process, and 6.2% of resumes included tableau. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the product analyst job title. But what industry to start with? Most product analysts actually find jobs in the technology and finance industries.
If you're interested in becoming a product analyst, one of the first things to consider is how much education you need. We've determined that 73.5% of product analysts have a bachelor's degree. In terms of higher education levels, we found that 14.7% of product analysts have master's degrees. Even though most product analysts have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a product analyst. When we researched the most common majors for a product analyst, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on product analyst resumes include associate degree degrees or high school diploma degrees.
You may find that experience in other jobs will help you become a product analyst. In fact, many product analyst jobs require experience in a role such as business analyst. Meanwhile, many product analysts also have previous career experience in roles such as internship or customer service representative.