What is a Research Analyst?

As a Research Analyst, you will be collecting and studying data coming from different sources. After collection and study, you will then make recommendations to the management in order to help businesses or companies determine the products' target market and ideal price.

With a job growth rate of 20%, you are also given a chance to explore other roles and look into other tasks. You can be a Consultant, an Operations Manager, a Branch Manager, or a Manager and Assistant Vice President. This will all be dependent on the path you plan to pursue.

There are special skills you need to have in order to do your job well as a Research Analyst. You need to have great analytical skills in order to filter out information. You also need to have good communication skills to be able to deal with different people. Lastly, you need to be detail-oriented to avoid making mistakes.

What Does a Research Analyst Do

There are certain skills that many research 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 analytical skills, communication skills and detail oriented.

Learn more about what a Research Analyst does

How To Become a Research Analyst

If you're interested in becoming a research analyst, one of the first things to consider is how much education you need. We've determined that 69.6% of research analysts have a bachelor's degree. In terms of higher education levels, we found that 17.9% of research analysts have master's degrees. Even though most research analysts have a college degree, it's impossible to become one with only a high school degree or GED.

Learn More About How To Become a Research Analyst

Research Analyst Job Description

A research analyst is responsible for collecting and analyzing data in order to better the efficiency of a company. Their duties include conducting research on market trends and competitors, organizing data, and presenting to the company's leadership team.

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Research Analyst Career Paths

In addition to switching up your job search, it might prove helpful to look at a career path for your specific job. Now, what's a career path you ask? Well, it's practically a map that shows how you might advance from one job title to another. Our career paths are especially detailed with salary changes. So, for example, if you started out with the role of consultant you might progress to a role such as operations manager eventually. Later on in your career, you could end up with the title manager, assistant vice president.

Research Analyst

Average Salary for a Research Analyst

Research Analysts in America make an average salary of $70,232 per year or $34 per hour. The top 10 percent makes over $107,000 per year, while the bottom 10 percent under $45,000 per year.
Average Research Analyst Salary
$70,232 Yearly
$33.77 hourly
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Roles and Types of Research Analyst

The role of a research analyst includes a wide range of responsibilities. These responsibilities can vary based on an individual's specific job, company, or industry.Here are some general research analyst responsibilities:

  • Conduct database and internet research to support information requests submitted by internal clients
  • The qualified applicant will provide proven expertise in the receipt, coding,
  • The candidate will be responsible to articulate, analyze,

There are several types of research analyst, including:

Analyst

Role:

An analyst can work in many different industries. So if you're looking for a position with endless job possibilities, then you've come to the right place. Who knows, the job might even come with a sweet salary, but you'll have to keep reading to find out.

Typically, an analyst will work in an office. They'll analyze data and make informed decisions based on the information they collect. An analyst might have a financial background or they might be a management analyst. Maybe you want to be a market research analyst or a news analyst. Either way, you've got to be good at making decisions.

The majority of analysts work a full-time position of 40 hours a week. Although, it isn't unheard of for analysts to work more than that. Did someone say overtime?

  • Average Salary: $73,007
  • Degree: Bachelor's Degree

Data Analyst

Role:

The work of a Data Analyst is key for a business or organization to determine viable operational strategies and potential risks. The main responsibility of a data analyst is gathering and interpreting data with advanced computer technologies, analyzing the quality and meaning of the data results in information that highlights important patterns and trends in the activities of the organization.

Data analysts present these reports to management and, without these results, stakeholders are unable to make informed decisions. Data analysts are employed by a number of different institutions such as banks, universities, factories, software development companies, and many more.

You need to have excellent problem-solving skills and a keen mathematical mind to be a successful data analyst. You need to know various programming languages, and you must display a logical approach. You will work under pressure for tight deadlines with a team of like-minded individuals, so an ability to prioritize tasks and a willingness to work with a team is also crucial.

  • Average Salary: $74,342
  • Degree: Bachelor's Degree

Pricing Analyst

Role:

Pricing analysts research the market and analyze data to understand the most profitable prices for the products of their company that stay in sync with market demands and yet allows for achieving sufficient revenues. They contribute to developing pricing models and sales strategies while striving to increase the company's competitiveness.

You will have to assess data from various sources to gain insight into market trends and competitors' pricing, market shares and margins, and customers' preferences. Based on these findings, you will advise your company on appropriate pricing strategies.

As a pricing analyst, you will work in an office and use standard office equipment and software. Your input will be important in forecasting trends and avoiding financial risk, allowing your business to quickly and successfully adapt to changes in the market.

  • Average Salary: $64,168
  • Degree: Bachelor's Degree
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States With The Most Research Analyst Jobs

Mouse over a state to see the number of active research analyst jobs in each state. The darker areas on the map show where research analysts earn the highest salaries across all 50 states.

Average Salary: Job Openings:

Number Of Research Analyst Jobs By State

RankStateNumber of JobsAverage Salary
1California5,688$66,301
2Texas2,892$58,558
3Florida2,064$51,510
4New York1,957$87,822
5Pennsylvania1,951$62,617
6Illinois1,787$66,109
7Virginia1,769$60,665
8Massachusetts1,363$69,318
9New Jersey1,338$77,931
10Ohio1,311$55,182
11North Carolina1,296$53,595
12Georgia1,279$56,642
13Michigan1,110$60,071
14Minnesota997$60,984
15Colorado996$57,523
16Washington899$93,681
17Arizona892$49,920
18Maryland885$60,277
19Oregon819$67,090
20Missouri810$47,516
21Tennessee781$49,725
22Indiana751$47,893
23Wisconsin651$53,859
24Utah513$46,966
25Connecticut482$77,546
26Iowa347$52,375
27Alabama336$47,514
28South Carolina335$46,992
29Kansas330$48,599
30Oklahoma326$43,198
31Kentucky326$42,720
32Nebraska297$44,153
33New Mexico274$50,018
34Arkansas270$53,889
35Louisiana270$43,180
36New Hampshire266$64,298
37Rhode Island239$74,352
38Nevada232$52,332
39Idaho214$56,853
40Delaware212$75,650
41Mississippi190$42,145
42West Virginia178$48,213
43Maine170$67,634
44Vermont156$55,199
45Montana149$54,533
46South Dakota145$50,530
47Hawaii130$37,101
48North Dakota115$44,656
49Wyoming86$46,688
50Alaska77$75,376

Research Analyst Education

Research Analyst Majors

Business
18.9 %
Finance
11.1 %
Economics
10.0 %

Research Analyst Degrees

Bachelors

69.6 %

Masters

17.9 %

Associate

5.9 %

Top Colleges for Research Analysts

1. University of Georgia

Athens, GA • Private

In-State Tuition

$11,830

Enrollment

29,474

2. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition

$55,584

Enrollment

10,764

3. University of Wisconsin - Madison

Madison, WI • Private

In-State Tuition

$10,555

Enrollment

30,360

4. Northwestern University

Evanston, IL • Private

In-State Tuition

$54,568

Enrollment

8,451

5. University of Maryland - College Park

College Park, MD • Private

In-State Tuition

$10,595

Enrollment

30,184

6. University of Minnesota - Twin Cities

Minneapolis, MN • Private

In-State Tuition

$14,760

Enrollment

31,451

7. Ball State University

Muncie, IN • Private

In-State Tuition

$9,896

Enrollment

15,529

8. Purdue University

West Lafayette, IN • Private

In-State Tuition

$9,992

Enrollment

33,495

9. Howard University

Washington, DC • Private

In-State Tuition

$26,756

Enrollment

6,166

10. Texas State University

San Marcos, TX • Private

In-State Tuition

$10,280

Enrollment

34,187

Top Skills For a Research Analyst

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 6.3% of research analysts listed data analysis on their resume, but soft skills such as analytical skills and communication skills are important as well.

Choose From 10+ Customizable Research Analyst Resume templates

Zippia allows you to choose from different easy-to-use Research Analyst templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Research Analyst resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.

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Research Analyst diversity

Research Analyst Gender Distribution

Male
Male
51%
Female
Female
49%

After extensive research and analysis, Zippia's data science team found that:

  • Among research analysts, 49.2% of them are women, while 50.8% are men.

  • The most common race/ethnicity among research analysts is White, which makes up 64.7% of all research analysts.

  • The most common foreign language among research analysts is Spanish at 34.7%.

Online Courses For Research Analyst That You May Like

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1. Data Analysis Immersive (Full-time)

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Learn to problem solve, and effectively communicate, like an analyst. This course teaches you to use industry-standard tools to make ethical, data-driven decisions. Experience hands-on training to master SQL, Excel, Tableau, PowerBI, and Python – tools listed in virtually every data analytics job posting across industries...

2. Data Analytics (Part Time)

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Harness Excel, SQL, and Tableau to drive powerful analysis and insights. Build confidence and credibility to apply this versatile skill set to countless jobs. This course is offered in person and live online, in a remote classroom setting...

3. Intro to Statistics

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Statistics is about extracting meaning from data. In this class, we will introduce techniques for visualizing relationships in data and systematic techniques for understanding the relationships using mathematics...

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Best States For a Research Analyst

Some places are better than others when it comes to starting a career as a research analyst. The best states for people in this position are Washington, New York, New Jersey, and Connecticut. Research analysts make the most in Washington with an average salary of $93,681. Whereas in New York and New Jersey, they would average $87,822 and $77,931, respectively. While research analysts would only make an average of $77,546 in Connecticut, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. Rhode Island

Total Research Analyst Jobs: 239
Highest 10% Earn:
$114,000
Location Quotient:
1.36

$74,352

Avg. Salary

View 239 Research Analyst Jobs In RI

2. New York

Total Research Analyst Jobs: 1,957
Highest 10% Earn:
$137,000
Location Quotient:
1.05

$87,822

Avg. Salary

View 1,957 Research Analyst Jobs In NY

3. New Jersey

Total Research Analyst Jobs: 1,338
Highest 10% Earn:
$121,000
Location Quotient:
1.16

$77,931

Avg. Salary

View 1,338 Research Analyst Jobs In NJ
Full List Of Best States For Research Analysts

How Do Research Analysts Rate Their Jobs?

4.5/5

5 Stars

4 Stars

3 Stars

2 Stars

1 Star

Research Analyst Reviews

5.0
Jul 2020
Pros

Compiling data of organization and implementing strategies to measure growth in business

Cons

Fundamental Economics

4.0
Feb 2019
Pros

I get to work on data that interests me and help make sure that data collection goes as planned. Lots of problem-solving with the flexibility to work a slightly different schedule or from home.

Cons

Lots of sitting.

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Top Research Analyst Employers

Most Common Employers For Research Analyst

RankCompanyAverage SalaryHourly RateJob Openings
1The Citadel$172,440$82.9091
2Point72$121,876$58.59100
3JPMorgan Chase & Co.$115,642$55.60348
4Bloomberg$115,270$55.4266
5Fidelity Investments$95,249$45.7983
6CBRE Group$90,831$43.6777
7CoStar Group$86,092$41.39189
8Nielsen Holdings$85,780$41.24109
9Thomson Reuters$85,689$41.2095
10Q-Tech$82,035$39.4463
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Becoming a Research Analyst FAQs

How Do I Get Experience As A Research Analyst?

You can get experience as a research analyst during college through classes and internship experiences. A person can also seek entry-level research jobs and volunteer work to build up their knowledge and various skills and tools to succeed as a research analyst.

What Degree Do You Need To Be A Research Analyst?

You need a bachelor's degree to be a research analyst. Typical fields of study that research analysts have included business, economics, and mathematics.

Research analysts can be found everywhere and in any industry, not just the financial sector. Therefore, nearly any academic background could viably serve a prospective researcher, as long as the researcher has the requisite technical, mathematical, and analytical skills.

What Is The Career Path For A Research Analyst?

The career path for a research analyst is varied. Typically, this path starts as a research assistant and becomes a research specialist, research manager, or research director. The specific direction any given research analyst takes depends on their unique set of interests and aptitude.

What Skills Do You Need To Be A Research Analyst?

The skills you need to be a research analyst are math skills paired with specific interpersonal skills. This combination allows the research analyst to recognize trends and patterns and understand the human motives that may drive such practices.

Have more questions? See all answers to common business and financial questions.

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Updated April 6, 2023