Career Profiles Market Research Analyst
Market research analysts study the response of the public to various inputs, thereby helping their companies predict what products customers will buy, and how much they will be willing to pay. The median salary for market research analysts in 2006, according to the United States Bureau of Labor Statistics (http://www.bls.gov), was $58,820. The Bureau of Labor Statistics also reports that approximately 234,000 market research analysts held U.S. position in 2006, and like most professionals in the advertising and marketing field, are seen across almost all industries, due to the nature of the position. Average job growth for market research analysts is expected to exceed the average for all industries, but may vary with specific industries.
Like any position in the advertising and marketing fields, the market research analyst position is an integral part of the market research, marketing strategy, advertising, and pricing function for its company. The work schedule is typical of an office position, and market research analysts tend to be individual contributors rather than leaders. Typical job duties include compiling data and reports independently, serving on market research teams, and interacting with the public.
Market research analysts gather and analyze data. Innovation is expected in order to gather the most comprehensive, realistic data and make the most accurate sales predictions. Data acquisition often comes in the forms of surveys distributed online or via email, or personal interviews conducted over the phone, door-to-door, or in public places where people are expected to gather. An understanding of statistical analysis and an ability to interpret statistical results is critical so that the market research analyst may make recommendations to his or her employer.
The ideal candidate for a market research analyst position is analytical, innovative, and demonstrates technical aptitude, particularly with computer applications, thanks to the Internet advertising explosion. Interpersonal skills and teamwork may be required to work with research teams and interact with the public, and communication skills are necessary to report findings and make recommendations. A bachelor's degree is preferred by most employers in order to qualify for an entry-level position as a market research analyst, and the typical field of study includes courses in marketing, business, and statistics. Often, ongoing training is provided or expected by the employer so that the market research analyst may keep up with the current trends in surveying and marketing. Certification can be obtained from the Marketing Research Association, and continuing education is required to maintain the certification once it has been earned.
