How to Become a Market Research Analyst

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How to Become a Market Research Analyst: Career Guide

If you want to become a market research analyst, the first step is to determine if this career is right for you.

 

If you're interested in a well-paying career in an office setting that offers you the ability to work independently towards an overall team goal, and you are interested in analyzing data and preparing reports based on your findings, then a career as a market research analyst is right up your alley.

 

Below we've outlined what you'll need to succeed in a career as a market research analyst. We've also included helpful information for a greenhouse operator career, such as job description, job duties, salary expectations, a list of possible employers and much more!

 

 

Education Needed to Become a Market Research Analyst

Although educational requirements to become a market research analyst vary by employer, market research analysts typically need a bachelor’s degree in marketing, market research, economics or a related field.

 

Alternatively, having a degree in a field such as statistics, mathematics, or computer science can also help you get a job as a market research analyst, and provide you with the foundations to succeed in that job.

 

Coursework in fields such as business administration, sociology, political science and psychology can also be quite helpful in this career.

 

A master’s degree in a field such as economics, business administration (MBA) marketing or statistics is often required for leadership positions or positions that perform more technical research.

 

 

 

Market Research Analyst Job Description

Market research analysts are responsible for researching local, regional or national market conditions to determine the sales potential of a product or service. Market research analysts may also gather information regarding the prices, sales figures and marketing methods of the competition.

 

 

Market Research Analyst Job Duties

• Monitor industry statistics and trends

• Develop strategies for obtaining research data, such as surveys, opinion polls, interviews or questionnaires

• Measure the effectiveness of current marketing, advertising, and communications programs and strategies

• Oversee the work of market surveyors

• Analyze the sales, marketing and distribution methods of competitors

• Conduct research on consumer opinions and marketing strategies

• Collaborate with marketing professionals, statisticians, pollsters, and other professionals

• Collect and analyze data on customer demographics, preferences, needs, and buying habits to identify potential markets and factors affecting product demand

 

 

Who Hires Market Research Analysts?

There are many organizations interested in applying the skills, competencies and knowledge of market research analysts.

 

• Manufacturing and processing corporations

• Market research firms

• Management consulting firms

• Government agencies

• Advertising and marketing agencies

• Business associations

 

 

Find Market Research Analyst Job Opportunities

Market Research Analyst Jobs - Canada

 

Market Research Analyst Jobs - United States

 


 

 

 

Market Research Analyst Salary

The salary level for market research analysts can vary depending on a multitude of factors, including where the type and size of organization that employs them, their level of education and experience, and many other factors.

 

Market Research Analyst Salary Alberta: According to the 2011 Alberta Wage and Salary Survey, Albertans in the Business Development Officers and Marketing Researchers and Consultants occupational group earned on average from $32.09 to $44.97 an hour. Salaries for market research analysts are typically near the lower end of this range.

 

Market Research Analyst Salary United States: According to the United States Bureau of Labor Statistics, the median salary for Market Research Analysts is $60,570 per year (2010 figures). CNN Money reports that the top pay for this profession is $97,700 per year.

 

 

Characteristics Needed to Become a Market Research Analyst

In order to become a successful market research analyst, you will need more than a degree and a job opportunity; you will need certain personality traits that will help you get through the ups and downs of this career. Such traits include:

 

• Attention to detail

• A keen interest in analyzing data

• The ability to think critically

• The ability to work alone, with a team goal in mind

• Must enjoy coordinating information and consulting with others

• Must have excellent communication abilities and presentation skills

• Must enjoy a sedentary work environment

 

 

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Careers Similar to Market Research Analyst

Listed below are jobs that are similar in nature to that of a market research analyst, as they may involve many of the same skills, competencies and responsibilities.

 

Advertising Consultant

Business Development Officer

Database Marketing Analyst

Marketing Consultant

Pricing Analyst

 

 

References: Market Research Analyst Career

Please use the references below to find more information on the various aspects of a career as a Market Research Analyst.

 

Alberta Learning and Information Services website: alis.alberta.ca

CNN Money website: money.cnn.com

United States Bureau of Labor Statistics website: www.bls.gov

 

 

Scholarships for Becoming a Market Research Analyst

Scholarships listed for majors that apply to becoming a Market Research Analyst can be found on our All Scholarships by Major page.

 

Success Tip: Be sure to apply for any scholarships that you even barely qualify for, as there are millions of dollars of scholarships that go unused every year due to a lack of applicants!

 

 

Becoming a Market Research Analyst: Applicable Majors

Studying one of the university majors listed below is an excellent starting point to becoming a market research analyst. Click on the links to find out what else you can do with these majors!

 


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