### Bureau of Labor Statistics U.S. Bureau of Labor Statistics

Market Research Analysts Summary
                        
            
                                                        
                                                                
                        
            
            
            
                            
                                                
                                                
                                                
                                                
            						
							
				                                                
                                            




            			market research analysts imageMarket research analysts perform research and gather data to help a company market its products or services.							
						Quick Facts:     Market Research Analysts2023     Median Pay
            						$74,680     per year
										$35.90     per hourTypical Entry-Level Education
                                    Bachelor's degreeWork Experience in a Related Occupation
                                    NoneOn-the-job Training
                                    NoneNumber of Jobs, 2022
                                    868,600Job Outlook, 2022-32
                                    13% (Much faster than average)Employment Change, 2022-32
                                    116,600What Market Research Analysts Do
                                                
                        
                        
Market research analysts study consumer preferences, business conditions, and other factors to assess potential sales of a product or service.
            
                        Work Environment
                        
Because most industries use market research, these analysts are employed throughout the economy. Most analysts work full time during regular business hours.
            
                                                How to Become a Market Research Analyst
                                                
                        
Market research analysts typically need a bachelor’s degree. Some employers require or prefer that job candidates have a master’s degree.
            
                        Pay
                        												                            																				    														The median annual wage for market research analysts was $74,680 in May 2023.									                                					
						
            
                        Job Outlook
                        						
												Employment							of market research analysts is projected to grow							 13 percent from 2022 to 2032, much faster than the average for all occupations.
						About 94,600 openings for market research analysts are projected each year, on average, over the decade.
            			
            			 Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
						State & Area Data
                       Explore resources for employment and wages by state and area for market research analysts.
            
            
						
                        Similar Occupations
                        
                                                    Compare the job duties, education, job growth, and pay of market research analysts with similar occupations.
            
            
                        More Information, Including Links to O*NET
                        
                                               
                        Learn more about market research analysts by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
 What Market Research Analysts Do 
            

			Market research analystsMarket research analysts gather and analyze data on consumers and competitors.			
Market research analysts study consumer preferences, business conditions, and other factors to assess potential sales of a product or service. They help companies understand what products people want, who will buy them, and at what price.
Duties
Market research analysts typically do the following:
Monitor and forecast marketing and sales trends
Measure the effectiveness of marketing programs and strategies
Devise and evaluate methods for collecting data, such as surveys, questionnaires, and opinion polls
Gather data on consumers, competitors, and market conditions
Analyze data using statistical software
Convert data and findings into tables, graphs, and written reports
Prepare reports and present results to clients and managementMarket research analysts gather data and study other information to help a company promote its products or services. They gather data on consumer buying habits, demographics, needs, and preferences. They collect data and information using a variety of methods, such as focus groups, interviews, literature reviews, market analysis surveys, public opinion polls, and questionnaires.
Analysts help determine a company’s position in the marketplace by researching their competitors and studying their marketing methods, prices, and sales. Using this information, analysts may determine potential markets, product demand, and pricing. Their knowledge of the targeted consumer enables analysts to develop advertising brochures and commercials, product promotions, and sales plans.
Market research analysts evaluate data using statistical techniques and software. They must interpret what the data mean for their client, and they may forecast future trends. They often make charts, graphs, infographics, and other visual aids to present the results of their research.
Workers who design and conduct surveys that market research analysts use are survey researchers.
 Work Environment
			Market research analystsMarket research analysts may give presentations to clients.			

	    
				
	
	
	
	
	
	
	    					 Market research analysts held about 868,600 jobs in 2022. The largest employers of market research analysts were as follows:
        Management, scientific, and technical consulting services
                11%Finance and insurance
                9Information
                8Wholesale trade
                7Management of companies and enterprises
                7Because most industries use market research, these analysts are employed throughout the economy.
Market research analysts work individually or as part of a team, collecting, analyzing, and presenting data. For example, some analysts work with graphic designers and artists to create charts, graphs, and infographics summarizing their research and findings.
Work Schedules
Most market research analysts work full time during regular business hours.
 How to Become a Market Research Analyst

			Market research analystsMarket research analysts measure the effectiveness of marketing strategies.			
Market research analysts typically need a bachelor’s degree. Some employers require or prefer that job candidates have a master’s degree. Strong research and analytical skills are essential.
Education
Market research analysts typically need a bachelor's degree in market research or a related business, communications, or social science field.
Courses in statistics, research methods, and marketing are important for prospective analysts. Courses in communications and social sciences, such as economics or consumer behavior, are also helpful.
Some employers of market research analysts require or prefer a master’s degree. Several schools offer graduate programs in marketing research, but analysts may choose to complete a bachelor’s degree in another field, such as statistics and marketing, and earn a master’s degree in business administration (MBA). A master’s degree is often required for leadership positions or positions that perform more technical research.
Licenses, Certifications, and Registrations
Analysts may pursue certification, which is voluntary, to demonstrate a level of professional competency. The Insights Association offers several certifications for market research analysts, including the IPC Principal and the IPC Masters. Candidates qualify based on industry experience and passing an exam.
Other Experience
Completing an internship while in school may be helpful. Prospective analysts also may gain experience by volunteering for an organization and helping with market research or related projects.
Employers may prefer to hire candidates who have experience in other positions that require collecting and analyzing data or writing reports to summarize research.
Important Qualities
***Analytical skills.*** Market research analysts must evaluate large amounts of data and information related to market conditions.
***Communication skills.*** Market research analysts must be able to clearly convey information when gathering material, interpreting data, and presenting results to clients.
***Critical-thinking skills.*** To determine which marketing strategies would work best for a company, market research analysts must assess all available information.
***Detail oriented.*** Market research analysts must pay attention to minutiae to evaluate data.
 Pay

			



	
 
                                                     
            
    
                Market Research AnalystsMedian annual wages, May 2023Business operations specialists$78,500  Market research analysts and marketing specialists$74,680  Total, all occupations$48,060Note: All Occupations includes all occupations in the U.S. Economy.Source: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics
 

	
	



		
	
	
	
The median annual wage for market research analysts was $74,680 in May 2023. 


The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $40,040, and the highest 10 percent earned more than $137,040.





		
	    					 In May 2023, the median annual wages for market research analysts in the top industries in which they worked were as follows:	
        Management of companies and enterprises
                $94,130Information
                93,650Finance and insurance
                81,870Wholesale trade
                76,530Management, scientific, and technical consulting services
                68,150Most market research analysts work full time during regular business hours.
 Job Outlook

   
        
    
          
        
    
                Market Research AnalystsPercent change in employment, projected 2022-32Market research analysts and marketing specialists13%  Business operations specialists6%  Total, all occupations3%Note: All Occupations includes all occupations in the U.S. Economy.Source: U.S. Bureau of Labor Statistics, Employment Projections program
            
            
			 
	
	
	

			Employment				of market research analysts is projected to grow				 13 percent from 2022 to 2032, much faster than the average for all occupations.
			
			About 94,600 openings for market research analysts are projected each year, on average, over the decade.
			
			 Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
			Employment
	
			
Employment growth will be driven by an increasing use of data and market research across many industries. These workers will be needed to help understand the needs and wants of customers, measure the effectiveness of marketing and business strategies, and identify the factors affecting product demand.
The increase in the collection and analyses of big data—extremely large sets of information, such as social media comments or online product reviews—can provide insight on consumer behaviors and preferences. Businesses will need market research analysts to conduct analyses of the data and information.
			

                        Employment projections data for     market research analysts, 2022-32
                Occupational Title
                        SOC Code
                        Employment, 2022
                        Projected Employment, 2032
                        Change, 2022-32
                        Employment by IndustryPercent
                        NumericSOURCE: U.S. Bureau of Labor Statistics, Employment Projections program**Market research analysts and marketing specialists**
			13-1161
			868,600
			985,200
			13
			116,600
			Get data
 State & Area Data **Occupational Employment and Wage Statistics (OEWS)** The Occupational Employment and Wage Statistics (OEWS) program produces employment and wage estimates annually for over 800 occupations. These estimates are available for the nation as a whole, for individual states, and for metropolitan and nonmetropolitan areas. The link(s) below go to OES data maps for employment and wages by state and area. Market research analysts and marketing specialists **Projections Central** Occupational employment projections are developed for all states by Labor Market Information (LMI) or individual state Employment Projections offices. All state projections data are available at www.projectionscentral.com. Information on this site allows projected employment growth for an occupation to be compared among states or to be compared within one state. In addition, states may produce projections for areas; there are links to each state’s websites where these data may be retrieved. **CareerOneStop** CareerOneStop includes hundreds of occupational profiles with data available by state and metro area. There are links in the left-hand side menu to compare occupational employment by state and occupational wages by local area or metro area. There is also a salary info tool to search for wages by zip code.
 Similar Occupations This table shows a list of occupations with job duties that are similar to those of market research analysts. Occupation
                Job Duties
                ENTRY-LEVEL EDUCATION
                2023     MEDIAN PAY**Advertising, Promotions, and Marketing Managers**
            Advertising, promotions, and marketing managers plan programs to generate interest in products or services.
            Bachelor's degree
            $156,580**Cost Estimators**
            Cost estimators collect and analyze data in order to assess the time, money, materials, and labor required to make a product or provide a service.
            Bachelor's degree
            $74,740**Data Scientists**
            Data scientists use analytical tools and techniques to extract meaningful insights from data.
            Bachelor's degree
            $108,020**Economists**
            Economists conduct research, prepare reports, and evaluate issues related to monetary and fiscal policy. They also may collect and analyze statistical data.
            Master's degree
            $115,730**Management Analysts**
            Management analysts recommend ways to improve an organization’s efficiency.
            Bachelor's degree
            $99,410**Mathematicians and Statisticians**
            Mathematicians and statisticians analyze data and apply computational techniques to solve problems.
            Master's degree
            $104,860**Operations Research Analysts**
            Operations research analysts use mathematics and logic to help solve complex issues.
            Bachelor's degree
            $83,640**Public Relations Specialists**
            Public relations specialists create and maintain a positive public image for the clients they represent.
            Bachelor's degree
            $66,750**Survey Researchers**
            Survey researchers design and conduct surveys and analyze data.
            Master's degree
            $60,960
 Contacts for More Information
								
For more information about market research analysts, visit
Insights Association
For resources and information about qualitative research, visit
Qualitative Research Consultants Association (QRCA)
CareerOneStop
For a career video on market research analysts, visit
Market research analysts

                                                
                                                        
                                                                                                    O*NET
                                        Market Research Analysts and Marketing SpecialistsSearch Marketing Strategists
 Suggested citation: Bureau of Labor Statistics, U.S.  Department of Labor, Occupational Outlook Handbook, Market Research Analysts, 
        	 at https://www.bls.gov/ooh/business-and-financial/market-research-analysts.htm (visited *May 21, 2024*).
 **Last Modified Date:**
                        Wednesday, April 17, 2024


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