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The differences between research consultants and market 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 research consultant and a market research analyst. Additionally, a research consultant has an average salary of $83,492, which is higher than the $51,688 average annual salary of a market research analyst.
The top three skills for a research consultant include data collection, medicaid and business development. The most important skills for a market research analyst are powerpoint, data analysis, and SPSS.
| Research Consultant | Market Research Analyst | |
| Yearly salary | $83,492 | $51,688 |
| Hourly rate | $40.14 | $24.85 |
| Growth rate | 19% | 19% |
| Number of jobs | 61,865 | 71,240 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 72% |
| Average age | 37 | 37 |
| Years of experience | 6 | 6 |
A research consultant is an individual who is responsible for collecting and analyzing multiple types of data across a variety of formats and present research reports for research and analytics companies, public institutions, and private businesses. Research consultants are required to design research strategies to complete the needs of research projects as well as create a basic plan of action for finding data. They may use online resources, phone surveys, and other data-collection methods to find and collect data. Research consultants must also assign investigative teams to verify and double-check the collected data.
A market research analyst is an individual who studies the market conditions so that he/she or she can examine the potential sales of an organization's product or service. Market research analysts are required to devise and evaluate methods for collecting data such as surveys, focus groups, and opinion polls. They must interpret the data they have collected and presented their findings to executives and clients to help them make better-informed decisions. Market research analysts are also required to create visuals of industry trends and competitors so the company can predict how it fares in the marketplace.
Research consultants and market research analysts have different pay scales, as shown below.
| Research Consultant | Market Research Analyst | |
| Average salary | $83,492 | $51,688 |
| Salary range | Between $60,000 And $115,000 | Between $36,000 And $73,000 |
| Highest paying City | New York, NY | Seattle, WA |
| Highest paying state | New York | Delaware |
| Best paying company | Microsoft | Imply |
| Best paying industry | Education | Technology |
There are a few differences between a research consultant and a market research analyst in terms of educational background:
| Research Consultant | Market Research Analyst | |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 72% |
| Most common major | Psychology | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between research consultants' and market research analysts' demographics:
| Research Consultant | Market Research Analyst | |
| Average age | 37 | 37 |
| Gender ratio | Male, 48.2% Female, 51.8% | Male, 51.2% Female, 48.8% |
| Race ratio | Black or African American, 4.7% Unknown, 4.9% Hispanic or Latino, 11.1% Asian, 14.0% White, 65.1% American Indian and Alaska Native, 0.1% | Black or African American, 4.7% Unknown, 4.9% Hispanic or Latino, 11.3% Asian, 14.3% White, 64.7% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 10% | 10% |