Market research analysts study the current market conditions in order to gauge the potential sales of a product or service. As a market research analyst, you could help companies understand the demand for products, who the potential customers are, and what price they are willing to pay. The annual median pay for research analysts is $60,300 per year. [i] If you are a detail-oriented person who enjoys analyzing information, you may want to consider a career in this field.
How Might Market Research Analysts Prepare for Their Jobs?
Market research analysts typically obtain a bachelor’s degree in market research or a related field. Some analysts have degrees in areas such as statistics, math, computer science, business administration or communications. However, many employers may prefer market research analysts to have a master’s degree (particularly in leadership positions or those that require more technical research).
What Is the Job Outlook for Market Research Analysts?
Employment of market research analysts is expected to grow by 32% from 2012 to 2022 (which outpaces the average for all occupations). [i] This is likely do in part to the fact that most industries require market research to keep abreast of consumer demographics and buying habits in order to better position their products and services.
Which Online Degrees Might Support This Career Goal?