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Working As A Product Analyst

  • 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 Product Analyst 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 Product Analyst

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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Product Analyst Career Paths

Product Analyst
Product Manager Marketing Manager
Senior Manager Of Marketing
9 Yearsyrs
Product Manager Senior Product Manager
Product Management Director
12 Yearsyrs
Product Manager Sales Manager Marketing Manager
Product Marketing Manager
7 Yearsyrs
Project Manager Marketing Manager Product Marketing Manager
Senior Product Marketing Manager
10 Yearsyrs
Project Manager General Manager Account Manager
Strategic Accounts Manager
9 Yearsyrs
Project Manager Senior Project Manager
Senior Product Manager
9 Yearsyrs
Finance Analyst Senior Finance Analyst
Manager Finance Planning And Analysis
8 Yearsyrs
Finance Analyst Manager Marketing Director
Director, Global Marketing
12 Yearsyrs
Finance Analyst Pricing Analyst
Pricing Manager
7 Yearsyrs
Senior Business Analyst Manager Production Manager
Product Development Manager
7 Yearsyrs
Senior Business Analyst Senior Consultant Senior Manager
Director Of Analytics
12 Yearsyrs
Consultant Senior Analyst
Analytical Manager
8 Yearsyrs
Consultant Senior Accountant Senior Analyst
Manager, Strategy
8 Yearsyrs
Senior Business Analyst Business Manager Communications Manager
Marketing Program Manager
6 Yearsyrs
Operations Manager Sales And Marketing Manager Product Marketing Manager
Partner Marketing Manager
7 Yearsyrs
Assistant Product Manager Brand Manager Social Media Manager
Marketing Strategist
6 Yearsyrs
Assistant Product Manager Assistant Marketing Manager
Marketing Services Manager
6 Yearsyrs
Assistant Manager Communications Manager Social Media Manager
Digital Marketing Strategist
5 Yearsyrs
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Average Length of Employment
Senior Analyst 3.3 years
Project Analyst 3.0 years
Process Analyst 2.7 years
Solutions Analyst 2.4 years
Analyst 2.4 years
Marketing Analyst 2.1 years
Product Analyst 2.0 years
Top Careers Before Product Analyst
Internship 10.9%
Analyst 8.5%
Consultant 3.3%
Manager 2.8%
Specialist 2.8%
Top Careers After Product Analyst
Consultant 5.8%
Analyst 4.9%
Manager 3.7%
Associate 2.9%

Do you work as a Product Analyst?

Average Yearly Salary
$76,000
Show Salaries
$58,000
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%
$99,000
Max 90%
Best Paying Company
DraftKings
Highest Paying City
San Francisco, CA
Highest Paying State
Washington
Avg Experience Level
2.4 years
How much does a Product Analyst make at top companies?
The national average salary for a Product Analyst in the United States is $76,407 per year or $37 per hour. Those in the bottom 10 percent make under $58,000 a year, and the top 10 percent make over $99,000.

The largest raises come from changing jobs.

See what's out there.

Real Product Analyst Salaries

Job Title Company Location Start Date Salary
Product Analyst ZL Technologies, Inc. Feb 04, 2015 $207,709
Analyst, Macro and Structured Products Tse Capital Management L.P. Apr 16, 2016 $200,000
Product Analyst Adobe Systems Incorporated May 05, 2016 $173,826
Product Analyst Facebook, Inc. May 06, 2015 $168,000 -
$188,000
Clo/Structured Products Analyst Elliot Management Corporation Jan 10, 2016 $150,000
Clo/Structured Products Analyst Elliot Management Corporation Apr 29, 2015 $150,000
Refined Product Paper Analyst Koch Supply and Trading, L.P. Sep 03, 2015 $150,000
Clo/Structured Products Analyst Elliott Management Corporation Jul 03, 2016 $150,000
Nest Hvac Product Analyst Google Inc. May 09, 2016 $145,000
Product Analyst ZL Technologies, Inc. Oct 01, 2015 $140,878
Product Analyst, Ambulatory Provider Software GE Healthcare IITS USA Corp. Dec 27, 2016 $140,000 -
$150,000
Data Product Analyst Yipit, Inc. Jul 12, 2016 $140,000
Product Analyst Invisionapp Inc. Oct 17, 2016 $140,000
Product Analyst Google Inc. Nov 14, 2016 $135,750
IM Product Analyst-Sap Human Capital Management Kiewit Corporation Aug 28, 2016 $96,720
Sales and Product Analyst Toyota Motor Credit Corporation ('TMCC') Aug 29, 2016 $95,500
Analyst, Product Strategy & Partnerships Cengage Learning Inc. Sep 17, 2016 $95,000
Product Insight Analyst Insurance Services Office, Inc. Dec 04, 2015 $95,000 -
$115,000
Product Analyst Moody's Analytics, Inc. Aug 27, 2016 $95,000
Productivity Analyst Varonis Systems Nov 08, 2016 $95,000
Product Analyst Markit North America, Inc. Aug 16, 2016 $94,640 -
$123,000
Product Analyst II-Quantitative Plymouth Rock Management Company of New Jersey Sep 01, 2015 $77,355 -
$94,078
Product Analyst, Product Management Abercrombie & Fitch Management Co. Jul 11, 2016 $77,210
Product Analyst 360 It Professionals, Inc. Jun 25, 2015 $76,918
Product Analyst Connectedhealth, LLC Apr 13, 2015 $76,000
Product Analyst Real Foundation, Inc. Aug 24, 2015 $75,400
Product Analyst 360 It Professionals, Inc. Jun 25, 2015 $75,046
Associate Product Analyst Moody's Analytics, Inc. Aug 27, 2016 $75,000

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Top Skills for A Product Analyst

  1. New Product Development
  2. Business Requirements
  3. Financial Statements
You can check out examples of real life uses of top skills on resumes here:
  • Influenced recommendations on product strategy, product portfolio management and new product development through survey of competitive and regulatory landscapes.
  • Propose new treasury limits and adjustments to limit sizes and tenors based on business requirements and utilization history.
  • Evaluated tax returns for guarantors and prepared bank formatted personal financial statements.
  • Analyze Data, Public Relations and Sales * Worked on the Gorgon LNG Plant in Western Australia for Chevron and CKJV.
  • Conducted process audits of various manufacturing lines to ensure compliance to operating procedures.

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Top 10 Best States for Product Analysts

  1. Minnesota
  2. Washington
  3. Delaware
  4. New Jersey
  5. Rhode Island
  6. Idaho
  7. Texas
  8. New York
  9. Oregon
  10. West Virginia
  • (1,139 jobs)
  • (1,140 jobs)
  • (211 jobs)
  • (1,571 jobs)
  • (214 jobs)
  • (108 jobs)
  • (3,454 jobs)
  • (3,070 jobs)
  • (533 jobs)
  • (77 jobs)

Product Analyst Resume Examples And Tips

The average resume reviewer spends between 5 to 7 seconds looking at a single resume, which leaves the average job applier with roughly six seconds to make a killer first impression. Thanks to this, a single typo or error on your resume can disqualify you right out of the gate. At Zippia, we went through over 3,249 Product Analyst resumes and compiled some information about how best to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

Learn How To Create A Top Notch Product Analyst Resume

View Resume Examples

Product Analyst Demographics

Gender

Male

50.3%

Female

43.7%

Unknown

6.1%
Ethnicity

White

56.8%

Asian

14.9%

Hispanic or Latino

14.2%

Black or African American

10.5%

Unknown

3.7%
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Foreign Languages Spoken

Spanish

42.4%

French

8.2%

Korean

7.0%

Mandarin

6.3%

Chinese

6.3%

Italian

4.4%

Portuguese

4.4%

German

4.4%

Hindi

2.5%

Russian

1.9%

Cantonese

1.9%

Carrier

1.9%

Arabic

1.9%

Greek

1.3%

Japanese

1.3%

Polish

1.3%

Swedish

0.6%

Telugu

0.6%

Vietnamese

0.6%

Gujarati

0.6%
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Product Analyst Education

Schools

New York University

9.8%

University of Texas at Austin

9.3%

Pennsylvania State University

6.2%

University of Washington

6.2%

DePaul University

6.2%

Michigan State University

5.2%

Northeastern University

5.2%

University of Chicago

5.2%

Carnegie Mellon University

4.6%

University of Connecticut

4.1%

University of Michigan - Ann Arbor

4.1%

University of California - Santa Barbara

4.1%

Drexel University

4.1%

University of Illinois at Chicago

4.1%

Webster University

3.6%

University of Minnesota - Twin Cities

3.6%

Texas A&M University

3.6%

San Diego State University

3.6%

University of North Carolina at Charlotte

3.6%

Duke University

3.6%
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Majors

Business

30.3%

Finance

12.2%

Marketing

8.2%

Computer Science

5.2%

Management

5.1%

Accounting

5.1%

Economics

5.0%

Management Information Systems

3.6%

Communication

3.6%

Information Technology

2.9%

Mathematics

2.5%

Psychology

2.4%

English

2.2%

Electrical Engineering

1.9%

Computer Information Systems

1.9%

Political Science

1.7%

International Business

1.6%

Statistics

1.5%

Chemistry

1.5%

Biology

1.4%
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Degrees

Bachelors

52.0%

Masters

33.0%

Associate

5.9%

Certificate

4.4%

High School Diploma

2.3%

Doctorate

1.5%

Diploma

0.9%

License

0.1%
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Top Product Analyst Employers

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Updated May 18, 2020