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business.wfu.edu MS in Business Analytics Articles Market Research Analyst Career Guide

• Market Research Analyst Career Guide

Published 05/07/2021

The career outlook for market research analysts is bright. Employment of market research analysts is projected to grow 18% from through most of this decade, much faster than the average for all occupations, according to the  U.S. Bureau of Labor Statistics . As industries across the globe increasingly rely on data and research to make important business decisions, the need for people to analyze and make sense of such data will grow.

Are you exploring a career in market research? This guide explains what a market research analyst is, how to become one, what types of market research exist, and more.

What Is a Market Research Analyst?

Market research analysts study market conditions to gauge potential sales of a product or service. They help companies understand which products to market, what prices to set, and who their ideal target audience is. While all industries use market research to some extent, industries that rely most heavily on it include retail, pharmaceuticals, and manufacturing.

Related job titles in this field include, according to  ONET :

• Business development specialist
• Communications specialist
• Demographic analyst
• Market analyst
• Market research analyst
• Market research consultant
• Market research specialist
• Market researcher

Top market research firms include Nielsen, QuintilesIMS, Kantar, IRI, Ispos, Westat, and The NPD Group.

What Does a Market Research Analyst Do?

A market research analyst researches conditions in local, regional, national, or online markets, and then sorts through this data to determine the potential sales of a product or service—and/or, to plan a marketing or advertising campaign.

In carrying out the above, a market research analyst uses mathematical and statistical tools to gain insights from the data. They often work with large amounts of raw data and must be able to draw conclusions from the data, and then present those conclusions in an easily understandable manner (often charts, tables, or graphs).

Other key job functions of a market research analyst include:

• Gathering information on competitors, prices, sales, and methods of marketing
• Analyzing search marketing tactics and web metrics to recommend ways to increase search engine rankings
• Spotting patterns and detecting trends
• Measuring the effectiveness of marketing programs and strategies

Types of Market Research

Fundamentally, market research always involves the following:

• Defining the problem and setting objectives
• Developing the research plan
• Collecting and analyzing the data
• Presenting the findings
• Using the findings to make business decisions

But beyond that, market research can be thought of in two ways:

1. Primary vs. Secondary

• Primary research comes directly from customers and prospects.
• Secondary research is compiled from government agencies, trade associations, and other third parties.

2. Quantitative vs. Qualitative

The former is more about numbers, the latter more about people.

• Quantitative  statistical methods include multiple regression, discriminant analysis, factor analysis, cluster analysis, conjoint analysis, and multidimensional scaling. These methods can be used to gauge the size of a potential market, for example.
• Qualitative  statistical methods include phone interviews, customer observations, and in-depth interviews, to name a few. Qualitative discovery is often used to characterize customer segments, discover new product features, and identify communication elements that resonate with the target audience.

Methods of Market Research

A market research analyst may use the following methods in the course of their job:

• Audience research— looks at who is listening, watching, or reading radio, TV, or online and print media and evaluates the popularity of the medium
• Product research— involves the use of product tests (using actual products or prototypes)
• Brand analysis— identifies the reasons for brand loyalty or lack of it
• Psychological profiling— creates customer profiles or personas according to temperament, lifestyle, income, and other factors
• Scanner research— examines the use of checkout counter scans of transactions to develop patterns, track the success of coupons, and establish links between products for up-sell and cross-sell purposes
• Database research— Uses multiple sources of data (for example, cross-referencing purchase records with census data to reveal buying habits of various income groups); also referred to as database mining
• Post-sale or consumer satisfaction research —determines if the customer was satisfied; this research also can build brand loyalty by expressing an interest in customers  after  the sale

How to Become a Market Research Analyst

Typical entry-level education for a market research analyst is a bachelor’s degree, the  BLS reports . This bachelor’s degree may be in market research or a related field such as statistics, math, computer science, business administration, the social sciences, or communications. Some market research analyst jobs require a master’s degree.

To be successful in this role, it’s vital that you have taken courses in statistics, research methods, and marketing. You also need the following skills:

• Strong math and analytical skills
• Excellent attention to detail, being careful not to overlook details that could impact your results
• Critical thinking and complex problem-solving skills

Is Certification Needed to Be a Market Research Analyst?

Certification is completely voluntary, but it may make you more attractive to some employers. The Insights Association offers the  Professional Researcher Certification  for market research analysts.

Professional Organizations for Market Research Analysts

The following professional organizations may be of benefit to those interested in becoming a market research analyst:

• Insights Association  was formed in 2017 from the merger of two organizations serving the market research and analytics industry: the Council of American Survey Research Organizations (CASRO, founded in 1975) and the Marketing Research Association (MRA, founded in 1957).
• Strategic and Competitive Intelligence Professionals  (SCIP) includes business experts from the market research industry, academia, and government who share strategic intelligence, research decision-support tools, processes, and analytics capabilities.
• The  Advertising Research Foundation  focuses on research in advertising, media, and marketing. The American Marketing Association offers  tools and templates  to help professionals with market research projects.

Gain the Education Needed to Be a Market Research Analyst

If you are looking to develop your career as a research analyst, consider the  Wake Forest online Master of Science in Business Analytics (MSBA) . The MSBA enables working professionals to develop deep, quantitative capabilities and technical expertise to create business and social value, with marketable skills required by today’s top employers.

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10 Fastest Growing Jobs in Marketing

What are the fastest growing careers in marketing.

Marketing careers include jobs in promoting, advertising, and selling products or services to customers.

Here is a list of 10 fastest growing careers in the Marketing career cluster with substantial job demand.

• Market Research Analysts and Marketing Specialists : Projected Job Growth: 12.50% Research conditions in local, regional, national, or online markets. Gather information to determine potential sales of a product or service, or plan a marketing or advertising campaign. May gather information on competitors, prices, sales, and methods of marketing and distribution. May employ search marketing tactics, analyze web metrics, and develop recommendations to increase search engine ranking and visibility to target markets.
• Driver/Sales Workers : Projected Job Growth: 8.42% Drive truck or other vehicle over established routes or within an established territory and sell or deliver goods, such as food products, including restaurant take-out items, or pick up or deliver items such as commercial laundry. May also take orders, collect payment, or stock merchandise at point of delivery.
• Real Estate Sales Agents : Projected Job Growth: 7.36% Rent, buy, or sell property for clients. Perform duties such as study property listings, interview prospective clients, accompany clients to property site, discuss conditions of sale, and draw up real estate contracts. Includes agents who represent buyer.
• Marketing Managers : Projected Job Growth: 6.79% Plan, direct, or coordinate marketing policies and programs, such as determining the demand for products and services offered by a firm and its competitors, and identify potential customers. Develop pricing strategies with the goal of maximizing the firm's profits or share of the market while ensuring the firm's customers are satisfied. Oversee product development or monitor trends that indicate the need for new products and services.
• Public Relations Specialists : Projected Job Growth: 6.00% Promote or create an intended public image for individuals, groups, or organizations. May write or select material for release to various communications media. May specialize in using social media.
• Sales Representatives of Services, Except Advertising, Insurance, Financial Services, and Travel : Projected Job Growth: 4.92% Sell services to individuals or businesses. May describe options or resolve client problems.
• Sales Representatives, Wholesale and Manufacturing, Technical and Scientific Products : Projected Job Growth: 4.65% Sell goods for wholesalers or manufacturers where technical or scientific knowledge is required in such areas as biology, engineering, chemistry, and electronics, normally obtained from at least 2 years of postsecondary education.
• Solar Sales Representatives and Assessors : Projected Job Growth: 4.65% Contact new or existing customers to determine their solar equipment needs, suggest systems or equipment, or estimate costs.
• Property, Real Estate, and Community Association Managers : Projected Job Growth: 3.95% Plan, direct, or coordinate the selling, buying, leasing, or governance activities of commercial, industrial, or residential real estate properties. Includes managers of homeowner and condominium associations, rented or leased housing units, buildings, or land (including rights-of-way).
• Sales Managers : Projected Job Growth: 3.53% Plan, direct, or coordinate the actual distribution or movement of a product or service to the customer. Coordinate sales distribution by establishing sales territories, quotas, and goals and establish training programs for sales representatives. Analyze sales statistics gathered by staff to determine sales potential and inventory requirements and monitor the preferences of customers.

This list was developed to provide meaningful information, so only occupations with a minimum number of available jobs were included.

Explore more careers on BigFuture. Not sure where to start? Get a list of careers that match your interests with our easy 15-minute Career Quiz .

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CTE Career Clusters | Marketing

What Is the Marketing Career Cluster?

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March 8th, 2024 | 11 min. read

Brad Hummel

Coming from a family of educators, Brad knows both the joys and challenges of teaching well. Through his own teaching background, he’s experienced both firsthand. As a writer for iCEV, Brad’s goal is to help teachers empower their students by listening to educators’ concerns and creating content that answers their most pressing questions about career and technical education.

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As a high school business teacher, there’s a good chance you’ve been asked to teach courses in the Marketing career cluster. Even though marketing careers are popular, you might be uncertain about what exactly this cluster involves. What pathways and jobs are involved, and how can you get your students excited about pursuing careers in marketing?

In this article, you'll discover answers to the most essential questions about the Architecture and Construction career cluster:

Why Is This Career Cluster Important?

What are career pathways within this cluster.

After reading, you'll know more about the Marketing career cluster so you can encourage your students to select rewarding careers that match their passions.

The Marketing career cluster is one of 16 clusters in career and technical education (CTE) . While these marketing-related careers are an important part of business, they deal specifically with the concepts of acquiring and retaining customers.

Careers in this cluster are focused on refining business processes so that a company’s merchandising, communications, and sales are properly managed to offer and provide goods and services to prospective and returning customers.

Ensuring each marketing process works efficiently and effectively is part of what makes marketing careers exciting and complex. Marketing professionals ensure that the company delivers the proper message and product to customers at the right time. However, delivering on this promise requires research, training, and experience.

Whether in sports marketing or social media , a well-organized marketing effort can make a massive difference in ensuring the long-term success of a business, along with satisfied customers willing to become ambassadors for a company and its products.

The Marketing career cluster is important to successful business operations and communicating the value of a company and its offerings.

Marketing professionals are often the first people a prospective customer interacts with at a company, whether through encountering advertising campaigns or reviewing a company’s website, videos, and written materials. Sales and customer success representatives further enhance the customer experience by providing customized solutions and tailored assistance to meet individual needs.

Professionals in the Marketing career cluster are essential to the function of organizations and provide indispensable services to customers in the United States and beyond. Through their cross-functional work, they provide vital communications that ensure the delivery of timely messages, optimize marketing and sales processes, and create a world-class communications experience. Together, they are an organization’s brand ambassadors and chief promoters to the general public.

Though individuals in this cluster work with potential and current customers at different stages of the engagement process, each task fills a need for providing specialized attention to ever-improving processes. Successful marketing, sales, merchandising, and communication require ongoing research, analysis, and optimization, and these career professionals are continually looking to enhance this process to provide for a company or organization’s ongoing growth and viability.

Ultimately, careers in this pathway are essential to the function of today’s corporations and nonprofit organizations. When students elect opportunities in the Marketing career cluster, they choose a rewarding career that directly helps individuals while impacting an entire organization.

There are five career pathways within the Marketing cluster. When students choose a path, they specialize their CTE education to prepare them for specific careers in the overall sales and marketing process.

The five pathways are:

Marketing Management Pathway

• Professional Sales Pathway

Merchandising Pathway

Marketing communications pathway, marketing research pathway.

Each path begins with core high school classes in areas like English/Language Arts, Math, Science, and Social Studies. From there, students complete general business courses and specialized coursework within each pathway. Let's take a closer look at what each pathway entails and what careers students can pursue.

The Marketing Management pathway involves the assessment, organization, and execution of marketing operations for an organization. Jobs in this pathway ensure the overall and ongoing success of marketing from a managerial and analytical perspective so that a company can meet its sales and marketing objectives.

According to Advance CTE , examples of employment opportunities in Marketing Management include:

• Administrative Support Representative
• Brand Manager
• CRM Manager
• Customer Satisfaction Manager
• Customer Service Representative
• Database Analyst and Database Manager
• Director of Market Development
• Forecasting Manager
• Frequency Marketing Specialist
• Interviewer
• Knowledge Management Specialist
• Marketing Services Manager
• Planning Analyst
• Product Planner
• Research Associate, Research Project Manager, and Research Specialist/Manager
• Strategic Planner

The level of education required varies depending on the job. For example, learners will need a college degree for more technical and analytical roles. On the other hand, graduates can likely take roles such as a Customer Service Representative right out of high school.

Professional Sales Pathway 

The Professional Sales pathway directly engages current and potential customers with solutions to meet their needs. Sales professionals are involved in everyday meetings with customers to build relationships and oversee the sales experience.

Careers in this pathway are focused more specifically on sales operations and include:

• Account Executive
• Business Development Manager
• Channel Sales Manager
• Client Relationship Manager
• Field Marketing Representative
• Field Representative
• Inbound Call Manager
• Industrial Sales Representative
• Key Account Manager
• Manufacturer’s Representative
• National Account Manager
• Outside Sales Representative
• Regional Sales Manager
• Retail Sales Specialist
• Sales Engineer
• Sales Executive
• Sales Person
• Sales/Marketing Associate
• Solutions Advisor
• Technical Sales Specialist
• Telemarketer
• Territory Representative/ Manager

While more advanced opportunities in the Professional Sales pathway require additional education, CTE graduates can begin work in sales directly after high school. This allows learners to develop skills and consider further training.

The Merchandising Pathway deals specifically with buying materials and merchandise and presenting products for sale, often in a retail environment. Professionals in this pathway must have an excellent command of markets to know when and how to present products to customers.

Careers in this pathway represent both the buying and merchandising of products and include:

• Department Manager
• Merchandise Buyer
• Merchandising Manager
• Operations Manager
• Receiving Clerk
• Retail Marketing Coordinator
• Sales Associate and Sales Manager
• Stock Clerk
• Store Manager
• Visual Merchandise Manager

Like the other marketing pathways, there are plenty of opportunities in Merchandising for career advancement through additional education. However, some entry-level positions will be available to new CTE graduates.

The Marketing Communications pathway is all about ensuring that timely messages are delivered to current and prospective customers. Communication roles involve advertising and publicly promoting a company’s products to maximize brand awareness and sales.

Opportunities related to Marketing Communications concern managing and promoting products, along with ensuring the success of a brand:

• Account Supervisor
• Advertising Manager
• Art/Graphics Director
• Circulation Manager
• Contract Administrator
• Co-op Manager
• Creative Director
• Interactive Media Specialist
• Marketing Associate
• Media Buyer/Planner
• Promotions Manager
• Public Information Director
• Public Relations Manager
• Research Assistant
• Research Specialist
• Sales Promotion Manager
• Sales Representative
• Trade Show Manager

Like the other marketing pathways, there are plenty of opportunities for career advancement through additional education. However, some entry-level positions will be available to new CTE graduates.

Finally, the Marketing Research pathway concentrates on understanding markets, people, and organizations. People work in Marketing Research to determine how products fulfill a need in the marketplace, how the company should sell these products, and work to predict how consumer and organizational needs may change in the future.

There are a range of different opportunities in Marketing Research, such as:

• Database Analyst/Database Manager
• Research Associate
• Research Project Manager
• Research Specialist/Manager

Since research-related positions often require specialized knowledge and skills, students should consider advanced education for the most opportunities in Marketing Research. However, skills learned in high school CTE programs help lay the groundwork and prepare students for future opportunities.

Prepare Your Students for Success in Marketing Careers

The Marketing career cluster is just one of 16 clusters in Career and Technical Education (CTE). However, who pursue careers in Marketing pathways can have varied and successful careers in organizations throughout the country.

In this article, you've learned more about the Marketing career cluster and its critical role in corporate and nonprofit operations. You've also discovered the five pathways that handle different aspects of marketing and sales processes, along with specific careers CTE graduates pursue in these areas.

But regardless of which pathway students choose, many educators have found that the best way to teach their learners is with a comprehensive curriculum. The iCEV Business, Marketing, Finance, IT, and Media curriculum includes everything you need to teach courses throughout these CTE pathways and set students up for success.

To discover what courses you can teach with iCEV, visit the Marketing curriculum page . You’ll be able to learn more about iCEV to decide if it’s right for your program:

CAREER PATHWAYS

Looking for the perfect job? Explore our Career Guides!

How to Become a Market Research Analyst

By Alyciah Beavers

Published: March 19, 2024

In today’s ever-evolving business landscape, organizations strive to make informed decisions that will propel them toward success, and this is where a market research analyst role is crucial. The career suits anyone who wants to become a master of data, a sleuth of consumer behavior, and a guardian of market insights. Read on to understand what is a market research analyst and if this career might be the right choice for you.

Career Summary

Market research analyst salary.

Here is a general trajectory of market research analyst salary, according to Glassdoor.com :

• Entry Salary (US$56k)
• Median Salary (US$71k)
• Executive Salary (US$100k)

To put this into perspective, the annual average wage for all occupations in the US is $61,900 . This means that, based on your level, you can make some excellent cash as a market research analyst.

Market Research Analyst Job Description

So, what does a market research analyst do? A market research analyst collects, analyzes, and interprets data to provide insights and recommendations on market trends and consumer behavior to a business . Their main objective is to help businesses make informed decisions regarding their products, services, and marketing strategies. Additionally, a market research analyst conducts market analysis and assists companies in understanding the products people want and how to price them.

Market Research Analyst Career Progression

• Entry-Level Analyst: It is the starting point for most market research analysts. At this stage, your roles involve assisting more senior analysts in conducting research, collecting data, and analyzing market trends. Your role also entails preparing reports and presentations.
• Research Analyst: You have more independence and take on greater responsibility for designing research methodologies, managing data collection, and conducting analysis.
• Senior Analyst: You have a deeper understanding of market research methodologies, advanced analytical techniques, and industry-specific knowledge.
• Supervisor: Here, your role involves overseeing multiple research projects, managing a team of analysts, and contributing to high-level decision-making. You are responsible for resource allocation, project planning, and client management.
• Head of Market Research: You are responsible for shaping the overall research strategy, guiding the research team, and collaborating with senior executives to align research efforts with business goals. You are also involved in budgeting, business development, and fostering relationships with clients and stakeholders.

• It simulates intellectual intelligence, where you develop your critical and problem-solving skills.
• It gives you the proper industry exposure since you work with clients from diverse industries.
• The career offers continuous learning opportunities since market research is a rapidly evolving field.
• As a marketing analyst, you can comfortably tackle complex business problems.
• It offers a collaborative environment where you work as a team with other people, such as marketing professionals, statisticians, data scientists, and business executives.
• Some tasks are monotonous as they involve collecting and analyzing large amounts of data, which can sometimes be tedious.
• Market research often operates on tight deadlines, requiring analysts to work under pressure to meet project timelines.
• At times there is limited creativity, whereby some analysts may feel constrained when developing innovative solutions or exploring unconventional approaches.
• The industry is competitive, so analysts need to stay updated constantly on the trends and consumer behaviors.
• There is a lot of data overload, which is overwhelming and challenging to navigate.

Useful Skills to Have As a Market Research Analyst

As a market research analyst, several useful skills can enhance your abilities and contribute to your success in the field, including:

• Research and Analytical Skills
• Data Interpretation and Statistical Analysis
• Critical Thinking Skills
• Strong Communication Skills
• Problem-Solving Abilities
• Technological Proficiency

Popular Market Research Analyst Specialties

Market research analysts specialize in various areas depending on the industry and the specific needs of their clients or employers.

There are some popular specialties within the field of market research analysis:

• Consumer Behavior
• Market Segmentation
• Competitive Analysis
• Brand Research
• Product Development
• Market Trend Analysis

How to become a Market Research Analyst

The right way to become a market research analyst is through education, relevant work experience, and specific skills. While the exact path can vary depending on individual circumstances, here are some common steps to help you pursue a career in market research analysis.

Obtain a Degree in a Relevant Field

Do i need a degree to become a market research analyst.

While having a degree is not always a strict requirement to become a market research analyst, it can significantly enhance your prospects and competitiveness in the job market. Many employers prefer candidates with a bachelor’s degree, particularly in fields such as market research, business administration, statistics, economics, or social sciences .

Why Is It Important to Get A Degree In Market Research or a Related Field?

While it’s not always a strict requirement, obtaining a degree offers numerous advantages. A relevant degree equips you with the foundational knowledge and analytical skills necessary for market research analysis, as well as the skills to analyze complex data sets, use statistical tools and software, and derive meaningful conclusions.

A degree program can provide a comprehensive understanding of research methodologies, statistical analysis, consumer behavior, data interpretation, and marketing principles. These skills are essential for conducting adequate market research and making informed decisions based on the collected data.

Furthermore, some employers may specifically request a degree or prefer candidates with higher qualifications for specific positions or in highly competitive job markets.

Additionally, having a degree can serve as evidence of your commitment, discipline, and ability to acquire and apply knowledge, which can be valuable to potential employers.

How Long Does It Take To Get A Degree?

The duration of a degree program in market research analysis can vary depending on several factors, including the degree level and the educational institution’s structure:

• Associate’s Degree: An associate’s degree generally takes around two years to complete . This program provides a foundational understanding of market research principles and techniques.
• Bachelor’s Degree: A bachelor’s degree typically requires four years of full-time study . Students delve deeper into market research methodologies, data analysis, and related business courses during this program.
• Master’s Degree: Pursuing a master’s degree in market research takes two years beyond the bachelor’s degree . This program focuses on advanced research techniques, data analysis, consumer behavior, and marketing strategy.
• Doctoral Degree: A Ph.D. or doctoral degree in market research analysis can take an additional four to six years of study beyond the master’s degree . The programs emphasize research, theory development, and advanced methodologies. These degrees are more suited for individuals interested in academic or research-oriented careers.

How Much Does It Cost to Study Market Research Analysis at University?

The cost of studying market research analysis at a university can vary widely depending on factors such as the country, the specific university, the level of study, undergraduate or postgraduate. Additionally, tuition fees can change over time, so it’s essential to check with the specific university or college for the most accurate and up-to-date information. Here is a breakdown as of 2022:

• Undergraduate marketing research program tuition for an in-state student is US$12,020, while an out-of-state student pays US$28,345.
• A graduate market research in-state student pays US$13,864, while an out-of-state student pays US$24,560.

Can I become a Market Research Analyst Through Online Education?

Yes, online education makes it possible to become a market research analyst . The web offers numerous resources and programs in multiple fields, including market research, with flexible learning hours.

Look for accredited online courses, certificate programs , or degree programs in market research, marketing, business, statistics, or related fields. Ensure that the program you choose is from a reputable institution.

Gain Practical Experience

Practical experience complements theoretical knowledge and helps you demonstrate your skills and abilities to potential employers. Seeking opportunities to apply your knowledge and skills in realistic settings and continuously striving to expand your expertise through hands-on experience in market research is the only way to go. Some ways involve volunteering and interning in different corporations to gain hands-on experience.

What are Internship Opportunities for A Market Research Analyst?

As a market research analyst, several internship opportunities are available to gain practical experience and develop your skills.

Here are some potential avenues to explore:

• Market Research Firms: Many market research companies offer internship programs tailored explicitly for aspiring analysts. These firms research for various clients and industries, exposing interns to multiple projects and methodologies.
• Corporate Internships: Numerous companies, especially larger ones, have in-house market research departments. These organizations often offer internships to support their research activities, allowing you to work directly with their marketing teams and gain industry-specific insights.
• Advertising and Marketing Agencies: Advertising and marketing agencies frequently require market research to inform their strategies and campaigns. Interning with such agencies can expose you to diverse projects and clients, enhancing your understanding of how research drives marketing decisions.
• Technology Companies: Tech companies, particularly those involved in data analytics and consumer insights, often offer internships for market research analysts. These opportunities can provide exposure to innovative tools, techniques, and datasets, allowing you to develop skills in the intersection of technology and market research.
• Consulting Firms: Consulting firms may have market research divisions or projects to which interns can contribute. These firms work with clients to provide strategic advice; market research is critical to their decision-making processes.
• Government Agencies: Government agencies often conduct market research to inform policy decisions, public campaigns, and program evaluations. Interning with a government agency can provide insights into the unique challenges and considerations of conducting research within the public sector.

To find internship opportunities , consider exploring online job boards, company websites, and professional networking platforms and contacting your university’s career services department. Networking with professionals in the field, attending industry events, and joining relevant market research associations or groups can also help you discover internship opportunities.

What Skills Will I Learn As A Market Research Analyst?

As a market research analyst, you will develop various skills to effectively gather, analyze, and interpret data to support business decision-making.

Here are some essential skills you can expect to learn and enhance in this role:

• Research Design: You will learn how to design research studies and formulate appropriate research questions and objectives.
• Data Collection: You will acquire skills in collecting data through surveys, interviews, focus groups, and observational studies. This includes developing questionnaires, conducting interviews, and managing data collection processes.
• Data Analysis: You will gain proficiency in analyzing data using statistical techniques, data visualization tools, and software packages like Excel, SPSS , or R . This involves interpreting quantitative and qualitative data, identifying patterns and trends, and drawing meaningful insights.
• Market Analysis: You will learn to assess market trends, customer behavior, and competitive landscapes. This includes conducting competitor analyses, market segmentation, and identifying target markets.
• Report Writing: You will develop strong written communication skills to effectively communicate research findings and insights through reports, presentations, and visualizations. This involves summarizing complex data into clear and actionable recommendations.
• Critical Thinking: You will enhance your ability to think critically and analytically, evaluate research methodologies, assess data quality, and identify potential biases or limitations in research findings.
• Problem-Solving: As a market research analyst, you will learn to identify business problems, formulate research objectives, and develop strategic solutions based on data-driven insights.
• Collaboration: You will develop teamwork and collaboration skills, as market research often involves working with cross-functional teams, stakeholders, and clients to understand their needs and deliver actionable results.
• Technology and Tools: You will become proficient in utilizing market research tools, software, and technologies to enhance data collection, analysis, and reporting. This may include data analytics platforms, survey software, CRM systems , and visualization tools.
• Industry Knowledge: You will gain deep knowledge and understanding of the industry or market you are researching, including key trends, regulations, and emerging opportunities.

What are Some Web Resources to Learn Skills to Become a Market Research Analyst?

Several web resources can help you acquire the necessary knowledge and skills.

Here are some useful platforms and websites you can explore:

• MarketResearch.com : This website offers various market research reports and articles covering multiple industries. It can help you understand different research methodologies, industry trends, and analysis techniques.
• GreenBook : GreenBook provides a platform for market research professionals and offers industry news, reports, webinars, and online resources. It covers topics such as research techniques, data analysis, and emerging trends in the field.
• American Marketing Association (AMA) : The AMA website provides valuable resources and tools for marketers, including market research-related content. It offers articles, white papers, webinars, and events that enhance your understanding of market research concepts and practices.
• Research Association (ESOMAR) : ESOMAR is a global association for market, opinion, and social research professionals. Their website offers a comprehensive library of resources, including industry reports, webinars, and guidelines for conducting market research.
• Quirks : Quirks is a website that offers market research articles, case studies, and industry news. It covers various topics like survey design, data analysis, and emerging methodologies. They also have a directory of market research vendors and services.
• Research World : Research World is an online publication covering recent trends and developments in the market research industry. It provides articles, case studies, and insights from industry experts, which can be valuable for learning and staying updated.

Obtain Certifications

Consider pursuing additional certifications or courses in market research, data analysis, or relevant areas to enhance your knowledge and marketability.  While there is no single universal certification for market research analysts, several reputable organizations offer certifications that can enhance your credentials.

Some popular certifications include:  

• Certified Market Research Professional (CMRP) : This is a widely recognized certification that demonstrates a market research analyst’s expertise in research methodologies, ethics, and data analysis. It signifies a commitment to high professional standards and best practices in the field. Earning the CMRP can enhance your credibility, increase your chances of landing job opportunities, and potentially lead to higher earning potential.
• Professional Researcher Certification (PRC) : The PRC certification validates a market researcher’s knowledge, skills, and ethical practices. It covers a broad range of market research topics, including research design, data collection, analysis, and reporting. Holding the PRC designation demonstrates your commitment to professional excellence and adherence to industry standards.
• Google Analytics Individual Qualification (GAIQ) : While not specific to market research, the GAIQ certification is highly relevant for market research analysts who deal with website data and analytics. It showcases proficiency in using Google Analytics, a widely used tool for analyzing website traffic and user behavior. GAIQ certification can be valuable in demonstrating your ability to interpret web data, track consumer interactions, and optimize online marketing strategies.

It’s important to note that, to take the exam and become certified, you must meet eligibility requirements. Some might require a bachelor’s degree in a relevant field such as marketing, business, or statistics and a specific number of years of experience working in market research or a related area.

What’s the Career Outlook for Market Research Analysts?

As of 2021, the career outlook for market research analysts is generally positive, and the field will continue to experience steady growth. Researchers estimate that there will be a 19% growth from 2021 to 2031, which is way faster than any other occupation.

However, please note that economic and industry trends can change over time, so it’s always a good idea to consult up-to-date sources and labor market data for the most accurate information.

Some of the factors contributing to the positive career outlook for market research analysts include:

• Increasing Demand: With the rise of technology and data-driven decision-making, there is a growing need for skilled professionals who can interpret and analyze market data. Businesses across various industries rely on market research to gain a competitive edge, expand their customer base, and identify new market opportunities.
• Globalization and International Markets: As companies expand their operations globally, understanding diverse markets and consumer behaviors becomes crucial. Market research analysts with expertise in international markets and cultural nuances can offer valuable insights and are in high demand.
• Emphasis on Data-Driven Decision-Making: Organizations increasingly rely on data to drive their strategies in today’s data-driven business landscape. Companies seek market research analysts who can effectively collect, analyze, and interpret data using advanced analytical tools and techniques.
• Technological Advancements: Advancements in technology, such as big data analytics, artificial intelligence, and machine learning, are revolutionizing the field of market research. Professionals who can adapt to these technological changes and utilize them to extract actionable insights will likely have strong career prospects.

What Are The Job Opportunities Of A Market Research Analyst?

Market research analysts have a wide range of job opportunities across various industries. Their primary responsibility is to gather and analyze data to help organizations make informed business decisions.

Luckily, there are many other job opportunities within the field of market research analysis that a market research analyst can do:

• Market Research Analyst: This is the primary role of a market research analyst where they collect and analyze data to identify market trends, consumer behavior, and competitive landscape. They design surveys, conduct interviews, and use statistical techniques to interpret the data and generate actionable insights for decision-making.
• Market Intelligence Specialist: In this role, you would focus on gathering and analyzing data related to the industry, competitors, and market conditions. You would monitor market trends, track competitor activities, and provide strategic recommendations to support business development, product positioning, and market entry strategies.
• Consumer Insights Analyst: As a consumer insights analyst, you would delve into understanding consumer behavior, preferences, and attitudes. You would employ various research methods such as surveys, focus groups, and interviews to gather data and then analyze it to uncover consumer insights. These insights help companies develop effective marketing strategies and refine product offerings.
• Data Analyst : Data analysis is an essential aspect of market research, and as a data analyst, you would specialize in processing, organizing, and interpreting large datasets. You would use statistical techniques, data mining, and visualization tools to extract meaningful patterns and trends. Your findings would assist in making informed business decisions and optimizing marketing campaigns.
• Market Research Consultant: In a consulting role, you would work with clients from different industries to provide expert market research guidance. You would conduct comprehensive market studies, assess competitive landscapes, and deliver strategic recommendations based on your analysis. Consultants often work on a project basis and collaborate closely with clients to address specific business challenges.
• Brand Strategist: Brand strategists combine market research insights with creative thinking to develop and implement effective branding strategies. You would analyze consumer perceptions, market positioning, and competitive landscape to define brand identities, messaging, and marketing campaigns that resonate with target audiences.

What Type Of Companies Hire A Market Research Analyst?

Market research analysts are in demand across various industries and sectors.

Some of the companies that hire market research analysts include:

• Market Research Firms: These specialized firms conduct market research for clients across different industries.
• Consumer Goods Companies: Companies that produce and sell consumer goods often employ market research analysts to gather insights on consumer preferences, market trends, and product performance.
• Technology Companies: Technology companies, especially those involved in software development, electronics, and telecommunications, rely on market research analysts to understand customer needs, evaluate competition, and assess market potential.
• Healthcare and Pharmaceutical Companies: These companies require market research analysts to study patient demographics, evaluate the efficacy of drugs, analyze healthcare trends, and assess market opportunities.
• Financial Institutions: Banks, insurance companies, and investment firms hire market research analysts to analyze market trends, identify investment opportunities, and assess customer preferences.
• Advertising and Marketing Agencies: Agencies that offer advertising, branding, and marketing services often have market research analysts on their teams to provide insights for developing effective strategies and campaigns.
• Retail Companies: Retailers employ market research analysts to understand consumer behavior, analyze purchasing patterns, and identify market opportunities.
• Media and Entertainment Companies: Media companies, including television networks, film studios, and streaming platforms, use market research analysts to understand audience preferences, gauge viewership, and identify potential content opportunities.

What Is The Work-Life Balance Of A Market Research Analyst?

A market research analyst’s work-life balance can vary depending on company culture , industry, workload, and personal preferences. Generally, market research analysts strive to maintain a balanced lifestyle, but the actual balance achieved can differ from person to person.

The working hours of market research analysts involve standard office hours, 9 am to 5 pm, or similar. However, there may be times when they need to perform additional hours to meet project deadlines or during busy periods. Therefore, this affects how these individuals maintain their work and social life.

However, there is also a lot of flexibility in this job. Depending on the company and specific job requirements, market research analysts may have some flexibility in their work arrangements. This could include options for remote work , flexible schedules, or compressed work weeks. Flexibility can contribute positively to achieving a better work-life balance.

The workload varies based on the organization’s demands and the projects involved at different quarters of the year. There may be periods with high-intensity work where you should meet the deadlines, which could affect your work-life balance. However, there may also be quieter periods with a more manageable workload. Balancing workload, managing deadlines, and effectively communicating with stakeholders can help alleviate stress and improve work-life balance.

Personal factors such as individual preferences, commitments, and priorities significantly affect work-life balance. Some market research analysts may prioritize their personal lives, hobbies, or family time more, while others may focus more on their careers. Individuals must assess and prioritize their needs to achieve the desired work-life balance.

Ultimately, achieving a good work-life balance as a market research analyst involves finding a suitable position with a supportive company culture, managing workload and stress effectively, and establishing personal boundaries to ensure time for personal life outside of work.

Should I become a Market Research Analyst?

If you have a passion for market research, understanding market trends, and delving into the factors that influence consumers’ life decisions, this is the perfect career for you. It’s important to make an informed decision based on your interests, skills, and long-term goals. Notably, there will be over 99,800 job openings for market research analysts each year for the next decade leading to this job increase. Therefore, if you’re looking to invest in a promising career for the future, this is the ideal path to pursue.

Careers Related to Market Research Analyst

• Business Analyst
• Data Analyst
• Marketing Manager
• Product Manager
• Sales Manager

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What Market Research Analysts Do

Market research analysts study market conditions to examine potential sales of a product or service. They help companies understand what products people want, who will buy them, and at what price.

Work Environment

Because most industries use market research, these analysts are employed throughout the economy. Most analysts work full time during regular business hours. Some work under pressure of deadlines and tight schedules.

How to Become a Market Research Analyst

Most market research analysts need at least a bachelor’s degree. Top research positions may require a master’s degree. Strong math and analytical skills are essential.

Job Outlook

Employment of market research analysts is projected to grow 19 percent from 2014 to 2024, much faster than the average for all occupations. Employment growth will be driven by an increased use of data and market research across all industries, to understand the needs and wants of customers and to measure the effectiveness of marketing and business strategies.

Job Trends for Market Research Analysts

This occupation supported 415,700 jobs in 2012 and 495,500 jobs in 2014, reflecting an increase of 19.2%. In 2012, this occupation was projected to increase by 31.6% in 2022 to 547,200 jobs. As of 2014, to keep pace with prediction, the expected number of jobs was 442,000, compared with an observed value of 495,500, 12.1% higher than expected. This indicates current employment trends are much better than the 2012 trend within this occupation. In 2014, this occupation was projected to increase by 22.2% in 2024 to 587,800 jobs. Linear extrapolation of the 2012 projection for 2022 results in an expected number of 573,500 jobs for 2024, 2.4% lower than the 2014 projection for 2024. This indicates expectations for future employment trends are better than the 2012 trend within this occupation.

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Market research analyst work environment

We surveyed 3,075 market research analysts to better understand the work environment and required skills of a typical market research analyst. Here are the results.

How much intelligence is required as a market research analyst?

Working as a market research analyst typically doesn’t require the use of high levels of intelligence in daily tasks.

Can I learn to become a market research analyst?

Intrinsic talent, acquired talent.

A career as a market research analyst typically depends predominantly on qualities you can gain through experience, with a small aspect of skills you are born with.

Is it easy to get a job as a market research analyst?

It’s typically difficult to find a job as a market research analyst. If you’re curious about the numbers, check out the job market for market research analysts .

Do market research analysts work full-time or part-time?

80% of market research analysts work in full-time roles while 20% work part-time.

Is being a market research analyst stressful?

Stress is not uncommon amongst market research analysts, with daily work sometimes being quite demanding.

Is being organized important as a market research analyst?

Some level of organization is generally required to be a market research analyst.

How competitive is the workplace for market research analysts?

Competition at work is not common for market research analysts.

Does being a market research analyst require frequent time pressure to complete tasks?

Market research analysts will have to sometimes face time pressure on the job.

Are market research analysts allowed to express themselves creatively?

Market research analysts rarely get a chance to express themselves creatively.

Do market research analysts have control over the direction of their work?

Market research analysts tend to have a set and inflexible work schedule that they are unable to deviate from too much.

Is being a market research analyst physically demanding?

Work as a market research analysts is rarely physically demanding, making it a suitable option for those unable to perform physically strenuous tasks.

Are market research analysts exposed to a wide variety of work?

While sometimes repetitive, market research analysts tend to have opportunities for variety in their work.

Does being a market research analyst require attention to detail?

As in many careers, attention to detail is quite helpful for market research analysts.

Does being a good market research analyst require compassion and empathy?

The ability to be compassion and empathetic isn't considered fundamental to success as a market research analyst.

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Top 10 Market Research Analyst Jobs: Expert Insights & Tips

• Published: November 2, 2023
• By: Yellowbrick

Market Research Analyst Jobs: An In-Demand Career Path

Market research analyst jobs are in high demand in today’s competitive job market. As businesses strive to stay ahead of the curve, they rely on market research analysts to provide valuable insights and data-driven strategies. If you have a passion for data analysis, critical thinking, and problem-solving, a career as a market research analyst may be the perfect fit for you. In this article, we will explore the key responsibilities, skills, qualifications, and career prospects of market research analysts. We will also discuss the top 10 market research analyst jobs that you should consider if you want to excel in this field.

Market Research Analyst Overview

Before we dive into the specific job opportunities, let’s start with an overview of what market research analysts do. Market research analysts are professionals who collect and analyze data to help businesses make informed decisions . They gather information about market trends, consumer behavior, and competitor strategies to identify opportunities and challenges. Market research analysts use various research methods such as surveys, interviews, focus groups, and statistical analysis to gather and interpret data.

Key Responsibilities

The primary responsibility of a market research analyst is to conduct research and provide insights that drive business strategies. Some common responsibilities include:

• Designing and implementing research projects
• Collecting and analyzing data using statistical software
• Interpreting research findings and presenting actionable recommendations
• Monitoring market trends and competitor activities
• Collaborating with cross-functional teams to develop marketing strategies based on research insights

Skills and Qualifications

To excel as a market research analyst, you need a combination of technical and soft skills. Here are some essential skills and qualifications:

• Strong analytical skills: Market research analysts must be proficient in data analysis and have a solid understanding of statistical concepts.
• Research expertise: Knowledge of research methodologies and tools is crucial for collecting and interpreting data accurately.
• Critical thinking: Market research analysts must be able to think critically and draw meaningful insights from complex data sets.
• Communication skills: Effective communication skills are essential for presenting research findings and collaborating with stakeholders.
• Attention to detail: Market research analysts need to pay close attention to detail to ensure data accuracy and reliability.
• Bachelor’s degree: Most employers require a bachelor’s degree in market research, marketing, statistics, or a related field. A master’s degree may be preferred for advanced positions.

Career Prospects

The demand for market research analysts is expected to grow significantly in the coming years. According to the Bureau of Labor Statistics, the employment of market research analysts is projected to increase by 18% from 2019 to 2029, much faster than the average for all occupations. Industries such as advertising, consulting, healthcare, and technology offer excellent career opportunities for market research analysts.

Top 10 Market Research Analyst Jobs

Now that we have covered the key aspects of market research analyst jobs, let’s explore the top 10 jobs in this field that you should consider:

• Senior Market Research Analyst
• Marketing Research Manager
• Data Analyst
• Consumer Insights Analyst
• Market Intelligence Analyst
• Competitive Intelligence Analyst
• Business Analyst
• Pricing Analyst
• Brand Strategist
• Market Research Consultant

Each of these roles offers unique challenges and opportunities for growth. Depending on your skills, interests, and career goals, you can choose the path that aligns with your aspirations.

In conclusion, market research analyst jobs are highly sought after in today’s data-driven business landscape. With the right skills, qualifications, and passion for data analysis, you can build a successful career in this field. Consider the top 10 market research analyst jobs mentioned in this article and explore the opportunities that await you. Good luck on your journey to becoming a market research analyst!

Key Takeaways:

• Market research analyst jobs are in high demand and play a crucial role in helping businesses make informed decisions.
• The primary responsibilities of market research analysts include designing and implementing research projects, collecting and analyzing data, interpreting research findings, and collaborating with cross-functional teams.
• Essential skills for market research analysts include strong analytical skills, research expertise, critical thinking abilities, effective communication skills, and attention to detail.
• A bachelor’s degree in market research, marketing, statistics, or a related field is typically required for entry-level positions.
• The career prospects for market research analysts are promising, with a projected growth rate of 18% from 2019 to 2029.
• Consider exploring the top 10 market research analyst jobs mentioned in this article to find the right fit for your skills and interests.

As you embark on your journey to becoming a market research analyst, it’s important to continuously enhance your knowledge and skills. One valuable resource to consider is the Parsons Ecommerce Foundations online course and certificate program offered by Yellowbrick. This program provides comprehensive training in the field of ecommerce, equipping you with the expertise needed to excel in market research and analysis within the digital landscape. By completing this program, you can gain a competitive edge and further boost your career prospects as a market research analyst.

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Market Research Analyst, A comprehensive guide to a promising career

After every online purchase you make, there is a small survey that pops up asking you to fill it out, but where does it go and what is the benefit of doing so? This is exactly where the market research analyst starts doing his job.

Although surveys are a crucial part of their work, it does not end here, so grab your undivided attention, coffee, and a notebook and get ready to take your first step in one of the most promising careers in the next few years.

How to become a market research analyst

Beyond simply gauging demand and identifying target audiences, the market research analyst role involves a deeper mission than understanding consumer behavior and market dynamics. From quantitative to qualitative approaches, a diverse skill set is essential, laying the foundation for success in this field. After having a quick look at the job description, let's dive deep into the education requirements and workplace skills vital for thriving as a market research analyst.

Market research analyst job description

As a quick answer, the market research analyst helps companies understand what products and services people need and who are the perfect customers willing to pay for them. But according to the Bureau of Labor Statistics (BLS), the main goal of the market research analyst is to make an accurate analysis of market conditions, assessing potential sales for a certain product or service. 

This research can take various forms as long as it supports the company's understanding of its industry and audience, marketing its products effectively, and maximizing its profits. The research varies from quantitative to qualitative data research, in addition to a wide range of skills that we will know in detail later on in this article. 

Education you need to become a market research analyst

To become a market research analyst, you need to have a bachelor’s degree in market research, business development, communications, or social science. Additionally, you need to add some courses in statistics, research methods, data analysis, and marketing. The market research degree program often includes courses in the following fields: 

• Branding and product promotion
• Audience targeting
• Consumer behavior and psychology
• Statistics analysis

Now, after getting a quick glimpse of the market research analyst job description and the education needed to become one, it is time to have a magnified look into the workplace skills needed to become a market research analyst.

Market research workplace skills

To be a successful market research analyst, there is a combination of some important skills that you have to use. Market research workplace skills involve having the ability to gather and analyze data related to potential customers, products, and services.

Data analysis is the foundational skill for market researchers, in addition to the ability to use this data to make informed and useful recommendations to the company or the client you work with. The four key types of data analysis you have to learn are: 

• Descriptive data analysis: This type is used to identify trends; it depends on the results of the previous business strategies. 
• Predictive data analysis: It leverages current data to predict future trends and potential results.
• Prescriptive data analysis:  This type of data analysis is so similar to the predictive one as it forecasts outcomes from hypothetical changes the organization might make. It is used especially to predict whether the new products companies are willing to introduce will have an impact on the existing ones.
• Diagnostic data analysis:  It usually compares data to identify relationships between them and aims to find the reasons behind patterns as well as the links between data. 

Although data analysis is one of the most important skills to have as a market research analyst, it is not the only one needed, as you also need some additional skills next to it including: 

• Data visualization: After analyzing data, you have to communicate your findings to the stakeholders, and here is where the data visualization skills come out. The graphic representations of data and statistics are very useful in highlighting key trends and identifying areas for improvement. The importance of this skill lies in allowing non market researcher staff members to understand the data to help them make well educated decisions in their fields. 
• Interpersonal skills: In addition to helping you communicate effectively with your team members and colleagues, having strong  interpersonal skills  helps you communicate with consumers and conduct interviews, providing you with key insights that will help you with your research process. 

With all those skills in your hand, you are ready to start working as a market research analyst, Let’s zoom in and take a look together at a day in your practical life as a market research analyst, exploring your different duties. 

Market research analyst duties

We have seen how market research analysts play a key role in tracking and predicting sales trends, evaluating the impact of marketing campaigns, and assessing the effectiveness of sales strategies through various tools and methods. On a day-to-day basis, their responsibilities typically involve:

• Conducting detailed research to forecast the probability of a product’s or service’s success. 
• Communicating with the marketing and sales departments on a daily basis to determine promotional objectives. 
• Use location data to target consumers in specific regions. 
• Conducting deep research on competitors' positions and measuring the success of the strategies they use. 
• Offer advice to the company on the best design, promotion, and packaging to catch the consumer's eye.

What type of research does a market research analyst conduct?

Research is the bigger umbrella that includes everything the market research analyst does, but it has many types and comes in different forms, such as:

• Quantitative research: this type depends on numbers and statistical data, to make accurate numerical decisions. 
• Qualitative research: It depends more on the responses about people’s beliefs, opinions, and experiences than tangible number statistics. 

The last part of our article is about the salary range of market research analysts, as it is predicted to be one of the most profitable careers. 

Market research analyst salary range

The salary of a market research analyst in the United States of America ranges from $68,000/ year to $99,000/ year, according to the latest statistics. 

Final thoughts

As the digital age continues to shape consumer behavior, the role of market research analysts becomes increasingly pivotal. From deciphering trends to fine-tuning strategies, their expertise fuels the success of businesses across industries. Armed with a blend of analytical prowess, interpersonal finesse, and a keen eye for detail, aspiring market research analysts can embark on a fulfilling journey in a field ripe with opportunities for growth and innovation. 

So, seize the moment, dive into the depths of this dynamic career, and chart your course towards a promising future in market research analysis. 

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What Are The Career Clusters – A Complete List of 16 Career Clusters

Your skills, educational background, and interests all play a role in determining the best career path . It’s also a choice that could have an impact on your future education and retirement plans. You can choose the best career path by knowing about the 16 career clusters.

We address the question, “What are the career clusters?” in this article. and investigate the career paths and pathways within each one.  Career Clusters are groups of jobs in the same industry requiring similar skills. Career Clusters can be used by educators, parents, and students to help focus education plans on acquiring the knowledge, skills, and training necessary for success in a particular career path.

A group of jobs with the same characteristics is known as a career cluster. A person who enjoys one job will probably also enjoy other jobs in the same cluster. Based on similar skill sets, interests, abilities, and activities, the National Career Clusters Framework divides these occupations into 16 categories.

What are the career clusters?

An organizational tool used with the Career Technical Education (CTE) program is the National Career Clusters Framework, which has 16 career clusters. It puts careers into groups to help you find one that fits your interests and skills. There are 79 distinct pathways to pursue within the clusters, and those pathways lead to a variety of careers.

A group of jobs with similar characteristics is known as a career cluster. Similar skill sets or knowledge are required for jobs in the same cluster. People are more likely to enjoy jobs in the same group if they enjoy a particular cluster.

There are 16 job groups in the National Career Clusters Framework that share similar interests, skills, abilities, and activities. Career pathways are sub-groupings  of the clusters. The National Career Cluster Framework includes 79 career paths.

Career pathways are used by many school systems to develop curriculum that expands students’ knowledge and skills for a specific career field. You can investigate professions in the OCCU-Find by the vocation groups underneath.

These 16 career clusters are:

• Agriculture, Food & Natural Resources
• Architecture & Construction
• Arts, A/V Technology & Communications
• Business Management & Administration
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• Law, Public Safety, Corrections & Security
• Manufacturing
• Science, Technology, Engineering & Mathematics
• Transportation, Distribution & Logistics

How to u se c areer c lusters?

You can use the career clusters for the following scenarios:

Curriculum Development

Career cluster lesson plans and classroom activities, career clusters for high school students.

Using career pathways, curriculum and career and technical education (CTE) programs help students acquire the knowledge and skills necessary for a particular field.

National teams of educators, administrators, and representatives of businesses worked together to identify CTE program certifications and standards that are recognized nationally. Schools have been able to better align their reading, writing, math, and science curriculum with the skills and knowledge that students need to succeed in the workplace.

For educators who are interested in developing or improving their CTE curriculum, there are a number of resources available. A Career Clusters Local Implementation Self-Assessment Rubric is provided by Advance CTE to evaluate the development of a career cluster-based curriculum. Additionally, educators looking to include new CTE curricula in their existing offerings can access resources from the same organization.

The career cluster framework can also be utilized by educators to create day-to-day lesson plans. Free classroom activities that emphasize career planning are available through the ASVAB Career Exploration Program. Learning objectives, instructional guidelines, and teacher guides are included in the design of these recently enhanced activities. Additionally, they conform to national education standards.

To access these resources and create a free account, educators and counselors can use access code CEP4ME. Under “Step 3: Classroom Activities,” once logged in, select Plan” and sort by the “Career Tech Ed (CTE)” category to view activities that are related.

Students can learn about more extensive groups of careers in the context of their interests by using the career clusters framework. By selecting the courses that are most relevant to their plans for post-secondary  education, students can also focus their studies.

Students can sort the search results by “Career Clusters” to learn more about careers in a particular field by utilizing the OCCU-Find and their ASVAB results. Other Search Lists provides access to this feature.

Using the “Favorites” button, students can save a job they are interested in learning more about.

16 C areer C lusters  To Decide Your Career Path

The National Career Clusters Framework organizes CTE programs, as well as the development of curriculum and instruction. The National Career Clusters Framework consists of 16 Career Clusters and 79 Career Pathways to assist students in achieving greater success in college and in the workforce.

The framework also serves as a helpful guide for creating individual student plans of study for a wide range of career options and bridging the gap between secondary and post-secondary  education systems. As a result, it enables students to choose the educational path that can lead to success in high school, college, and a career by assisting them in identifying their interests and passions.

Let us go through 16 career clusters one by one:

1. Agriculture, Food and Natural Resources

Everything connected to the production of agricultural goods is included in the cluster Agriculture, Food, and Natural Resources. Scientists, engineers, ranchers, farmers, and veterinarians are all included in this.

Some of the career paths in this cluster may necessitate a bachelor’s degree in their particular field, while others educate individuals through hands-on experience. Since most of the work is done outside, most people in this field like to be outside.

Career pathways in this cluster include:

• Agribusiness Systems
• Animal Systems
• Environmental Service Systems
• Food Products and Processing Systems
• Natural Resources Systems
• Plant Systems
• Power, Structural and Technical Systems

Some jobs to pursue in this cluster are:

• Veterinarian
• Environmental officer
• Hazardous material handler

2. Architecture and Construction

People who are involved in the design, construction, and upkeep of homes, industrial facilities, streets, and bridges are included in the Architecture and Construction cluster. Education requirements for skilled tradespeople, such as carpenters and plumbers, vary depending on the job, but most of the time, training is completed on the job.

The people who work in this field are passionate about design, home improvement, and decor and have strong math skills. An office or the homes and businesses of your customers can serve as your typical workplace.

Pathways in the Architecture and Construction cluster are:

• Construction
• Design/Pre-Construction
• Maintenance/Operations

Here are some jobs to pursue in this cluster:

3. Arts, Audio/Visual Technology and Communications

The Arts, Audio/Visual Technology, and Communications cluster, which includes journalists, actors, dancers, singers, radio announcers, and people who work behind the scenes, may be the best career cluster for creative people. If you want to be an actor, studying theater and drama or film and media arts could be helpful.

You can also take certificate programs to become a sound engineer or a telecommunications technician. A theater, film, television, or recording studio could serve as the workplace. The majority of those employed in this cluster have genuine passions for fashion, dance, cinema, or music.

Career pathways in the Arts, Audio/Visual Technology and Communications cluster are:

• Audio and Visual Technology and Film
• Journalism and Broadcasting
• Performing Arts
• Printing Technology
• Telecommunications
• Visual Arts

Examples of jobs to pursue in this cluster are:

• Production assistant
• Photographer

4. Business, Management and Administration

Business analysts, accountants, HR professionals, and managers are all part of the Business, Management, and Administration cluster, as are numerous entry-level positions like receptionists, secretaries, and typists. A bachelor’s degree is required for most positions in this cluster, and some accounting positions may also require a CPA license.

The regular workplace is an office, and numerous jobs require working straightforwardly with clients. People who are interested in this career cluster typically have strong business acumen and strong communication skills.

The Business, Management and Administration cluster has pathways like:

• Administrative Support
• Business Information Management
• General Management
• Human Resources Management
• Operations Management

Jobs to pursue in this cluster include:

• Business development manager
• Human resources manager
• Marketing assistant

5. Education and Training

In addition to teacher, tutor, and instructor positions, the Education and Training career cluster employs counselors, school psychologists, and speech-language pathologists who provide students with support and direction. A bachelor’s degree and a license are required for elementary and secondary school teachers, while an advanced degree is required for college teachers.

A school or college is the usual place to work. People who want to be role models for younger people or have strong leadership skills might be interested in this career cluster. If you want to work in this field, you should be passionate about the subject you want to teach.

Pathways in the Education and Training cluster are:

• Administration and Administrative Support
• Professional Support Services
• Teaching/Training
• Preschool teacher
• Teacher aide
• School counselor

Auditor, financial analyst, treasurer, economist, bank worker, debt counselor, and insurance sales agent are the roles in the Finance cluster. A bachelor’s degree is required for many jobs in the Finance career cluster, and obtaining a license as a Certified Public Accountant or Certified Internal Auditor may be helpful for some positions.

An office, an accounting firm, or a tax agency are the usual places to work. Most of the time, people who work in this field have good math skills and can explain complicated ideas to customers who don’t work in the field.

The pathways in the Finance cluster are:

• Banking services
• Business finance
• Securities & Investments

Jobs to pursue in this cluster:

• Loan Officer

7. Hospitality and Tourism

You can work in restaurants, bars, tourist attractions, resorts, hotels, and travel agencies in the Hospitality and Tourism cluster. While a high school diploma or its equivalent is typically required for entry-level positions, a bachelor’s degree and proficiency in multiple languages may be required for higher-level positions such as tour guides or travel agents.

The kitchen of a restaurant, a ticket office, a hotel reception, or an airport are all common places to work. People who enjoy cooking and don’t mind standing for long periods of time might be interested in the careers that are associated with bars and restaurants. People who enjoy culture, the arts, and traveling may be interested in career paths related to tourist attractions.

Here are the career pathways in the Hospitality and Tourism cluster:

• Recreation, Amusements & Attractions
• Restaurants and Food/Beverage Services
• Travel & Tourism
• Hotel front desk clerk
• Restaurant manager
• Travel agent

8. Human Services

Psychologists, social workers, and child advocates are among the professionals in the Human Services career cluster, as are hairdressers, manicurists, and cosmetologists. A bachelor’s degree and a license are required for the counseling and mental health career paths. Beauty and wellness-related jobs require specialized training. A person who wants to be a cosmetologist, for instance, could take a specific college course and then work as an apprentice in a beauty salon.

A beauty salon, spa, or hospital might be the place of employment. The particular career path has a profound effect on the environments. Most of the people who work in this cluster have good interpersonal and listening skills, as well as patience and empathy for other people.

The Human Services cluster’s pathways are:

• Consumer Services
• Counseling and Mental Health Services
• Early Childhood Development and Services
• Family and Community Services
• Personal Care Services
• Psychologist
• Social worker
• Hairstylist

9. Information Technology

Computer science teachers, computer forensic professionals, and information security analysts are among the other careers in the Information Technology cluster. The cluster is for students who want to become developers, web designers, network administrators, and computer support specialists. degrees or certifications in the field, such as Microsoft Certified or AWS Certified Developer: For many of these jobs, Azure Solutions Architect Expert is helpful.

Due to the rapid pace of technological advancement, those who work in this field typically require ongoing education. The workplace is typically an office, and people who have a passion for the Internet may be interested in a career in information technology, such as assisting with web navigation and resolving security issues.

Pathways in the Information Technology cluster are:

• Information Support and Services
• Network Systems
• Programming and Software Development
• Web and Digital Communications
• Computer engineer
• Software developer
• Web designer

10. Law, Public Safety, Corrections and Security

Citizens are safeguarded by members of the Law, Public Safety, Corrections, and Security cluster, including FBI agents, attorneys, paralegals, and security guards. After completing three years of law school and passing the final bar exam, attorneys earn a bachelor’s degree. Police officers graduate from the police academy after passing the entrance exam.

A jail, court, police station, or other public location where people need to be protected could serve as the workplace. This could include playgrounds, beaches, and pools. People who are courageous and have a strong desire to protect others may be interested in working in this cluster.

Pathways for the Law, Public Safety, Corrections and Security cluster are:

• Correction Services
• Emergency and Fire Management Services
• Law Enforcement Services
• Legal Services
• Security and Protective Services
• Legal assistant
• Police officer

11. Manufacturing

The careers of equipment operators, millwrights, assemblers, and warehouse workers are just a few examples of the kinds of physical work that can be found in the Manufacturing cluster. While other paths may require a bachelor’s degree, these positions typically only require on-the-job training. Some workers, for instance, check the quality of goods and services while others make sure factories are safe.

An industrial unit is a typical workplace. However, some employees are able to fix household appliances or work directly at their clients’ homes. If you have strong manual skills and enjoy doing things yourself, you might want to work in manufacturing.

Career pathways in the Manufacturing cluster are:

• Health, Safety and Environmental Assurance
• Logistics and Inventory Control
• Maintenance, Installation and Repair
• Manufacturing Production Process Development
• Quality Assurance

Some to pursue in this cluster include:

• Manufacturing engineer
• Production worker
• Electrician

12. Marketing, Sales and Service

Salespeople, telemarketers, real estate agents, representatives of customer service, market research analysts, and marketing managers are all members of the Marketing, Sales, and Service cluster. Even if you don’t need a degree in marketing, it can be helpful.

Certifications like the Google AdWords certification or the Google Analytics Individual Qualification can also help people who want to work in online marketing. The customer’s home, an office, or a retail store can all serve as the workplace. Those with excellent communication skills may be interested in pursuing a career in this field.

Career pathways in the Marketing, Sales and Service cluster are:

• Marketing Communications
• Marketing Management
• Marketing Research
• Merchandising
• Professional Sales
• Sales representative
• Marketing director
• Real estate agent

13. Science, Technology, Engineering and Mathematics

Biologists, statisticians, chemists, and geoscientists are among the most highly educated workers in the Science, Technology, Engineering, and Mathematics cluster. A bachelor’s degree in a relevant field is required for all positions, and professional engineers must also obtain a state license.

A weather station, a laboratory, or an industrial facility could all serve as the working environment. People who are interested in this career cluster typically have a strong interest in geography, science, or math, and they are willing to continue their education and training.

Career pathways for the Science, Technology, Engineering and Mathematics cluster are:

• Engineering and Technology
• Science and Mathematics

Examples of to pursue in this cluster include:

• Laboratory technician
• Data scientist
• Research assistant

14. Government and Public Administration

People who aid in the enforcement of the law are included in the Government and Public Administration cluster. It includes, for instance, tax collectors, municipal clerks, personnel serving in the military, and customs brokers. Mail carriers, aircrew members, and postal service clerks are also part of this cluster.

Some jobs require a bachelor’s degree, but jobs like judges and magistrates require an advanced degree. You could also earn a Certification as a Municipal Clerk, a Certification as a Tax Assessor, or a License as a Customs Broker depending on the career path you choose. Most of the time, the workplace is a city’s municipal or customs office. People with strong communication skills and an interest in politics might be interested in pursuing a career in this area.

Career pathways in the Government and Public Administration cluster include:

• Foreign Service
• National Security
• Public Management and Administration
• Revenue and Taxation
• Financial controller
• Flight attendant
• Administrative clerk

15. Health Science

Specialized training is required for all roles in the Health Science cluster, which includes doctors, nurses, pharmacists, paramedics, and healthcare operators. Nurses, for instance, go to nursing school and get a license, whereas doctors need more education, like a medical degree.

In a similar vein, opticians earn a state license and attend EMT training, which leads to either a national or state certification. People who are interested in this cluster typically have a natural predisposition to assist others, and the workplace may be a hospital, private clinic, pharmacy retail chain, or the homes of patients.

The Health Science cluster includes career pathways like:

• Biotechnology Research and Development
• Diagnostic Services
• Health Informatics
• Support Services
• Therapeutic Services
• Director of nursing
• Anesthesiologist

16. Transportation, Distribution and Logistics

The Transportation, Distribution, and Logistics cluster is responsible for driving, fixing, and working behind the scenes to ensure that public transportation is always efficient. They are parking lot attendants, pilots, rail car mechanics, civil engineers, and transportation planners. Licenses are required for truck drivers, train operators, and pilots; advanced degrees are required for engineering positions. A specific certification is not required for rail car repairers, but it can be very helpful.

An office, a train, a bus, or a car repair shop can all serve as the workplace. The career in question determines the location. For individuals who have a passion for driving automobiles or repairing automobiles, the careers in this cluster may be appealing.

Career pathways in the Transportation, Distribution and Logistics cluster are:

• Facility and Mobile Equipment Maintenance
• Health, Safety and Environmental Management
• Logistics Planning and Management Services
• Sales and Service
• Transportation Operations
• Transportation Systems/Infrastructure Planning, Management and Regulation
• Warehousing and Distribution Center Operations

Some to pursue in this cluster are:

• Truck driver
• Logistics manager

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Research Analyst Career Path: Roles, Salaries & Progression

From a broad perspective, the role of research analyst can be used to describe any individual who collects and interprets data, and presents their findings in a clear way to help guide any decisions that need to be made by an organization.

In the finance sector, research analysts are usually involved in creating market reports on assets, securities or other investment opportunities for use either internally, such as by an investment bank, or to provide to external clients. 

A range of titles are used such as investment analyst or perhaps more commonly equity research analyst, depending on the specific company and area of finance they work in. However most analysts are responsible for similar scopes of work, which is to gather data, analyze and present information that forms a foundation for their firm’s strategy and decision making.

Becoming a research analyst will provide professionals with a great deal of career flexibility. As these positions are also in high demand, recruiters are always looking for individuals who possess the talent and drive to ascend to the next level. 

Are you considering a research analyst career path? Here’s everything you need to know to decide if it is right for you.

Buy-side versus sell-side analysts

When talking about research analysts, an important distinction needs to be made. Those who take on the role of a research analyst will normally be provided with two possible career paths:

• Sell-side analysts
• Buy-side analysts

What are the differences between these two terms? 

Sell-side analysts are primarily concerned with industry-specific stocks and assets, and conduct their research in order to provide targeted investment advice. They can work in tandem with institutional investors, traders and wealth management specialists. This communication takes place via research reports and ratings in regard to the asset(s) in question.

Buy-side analysts are more directly involved with the investments themselves. Often working on the behalf of a company, their main goal is to provide opportunities for capital growth that is in accordance with the aims (and the portfolio) of the firm itself. This research is generally not offered to the public. Opportunities often involve asset classes such as mutual funds, private equity schemes and pensions.

It’s worth bearing in mind that the market for sell-side analysts has slightly dried up in recent years. This is primarily due to an increase in the number of regulations that have been put in place, such as MiFID II. While there are still opportunities available, a growing number of candidates tend to be more focused upon buy-side positions.

What does a research analyst do?

Although the exact responsibilities of a research analyst will vary depending upon the position and the company, some of the core duties are likely to include:

• Keeping up to date with the latest news and data.
• Performing quantitative and qualitative analyses in relation to this data, mainly building earnings models and valuations.
• Monitor market conditions and anticipate the potential short and long term impact it has on an asset under coverage.
• Communicating and presenting investment ideas with others such as managers, co-workers, and clients.

As an entry level associate or junior analyst, you’ll most likely report to a senior analyst and a typical day will be structured according to priorities set by managers. Hours can sometimes be long, with 12 hour days not unusual, or longer at busy periods such as financial results announcement season.

Why become a research analyst?

Those who progress through the ranks as an analyst can enjoy decent salaries, challenging, analytical work where everyday is different. While hours can sometimes be long, particularly for entry level roles, a career as an analyst can be financially rewarding.

In addition to a good compensation, another advantage associated with this career is the sheer level of expertise that an analyst is required to possess. Highly desirable by firms that hope to embrace a competitive edge, this enables experienced analysts to diversify into other similar fields as potential future exit opportunities.

Despite experienced research analysts having a significant amount of knowledge, this field is reasonably easy to get into, at an entry level at least, in comparison to some other financial careers . Therefore it can be a good option for those who are keen to get their career underway right out of university or college and who possess a degree in the right subject.

While the job can be demanding, for those who enjoy using their analytical and numerical skills to identify the best solutions, it can also be extremely satisfying and intellectually stimulating. Analysts can work and specialize in a variety of different industries and asset types and, which makes this career path quite dynamic.

Personality traits which will normally be associated with a good research associate or analyst candidate include:

• Critical thinking
• Strong communication skills
• Logical reasoning
• An attention to detail
• A talent for maths and numbers in general

Research analyst hierarchy and progressing within the role

Assuming that you have decided to explore the role of a research analyst, how will your career progress in accordance with your experience? 

Unlike roles in investment banking which progression times are more ‘standard’, the exact time required to advance between stages in a research analyst career path is rather fluid. In other words, some individuals will ascend faster than others. That said, here are the typical 4 stage progression structure in a research role:

Research associate

Most associates will be accepted into an entry-level position after having graduated with a bachelor’s degree in business, finance or a similar field. These individuals will be directly supervised by a senior or VP analyst; enabling them to further hone their skills while gaining real-world experience. It is not uncommon for new entrants to be shifted between different senior analysts during the first few months.

Once one has gained enough experience, he or she will be granted the title of “Analyst” as opposed to “Associate”. While this might seem like a minor change, analysts can hold a number of additional titles such as vice president of analytics. Additionally, there can be different levels of analysts in research analytics, meaning not everyone who is an analyst is operating at the same level within the hierarchy. 

Analysts will therefore oversee their junior associates while also communicating with their seniors. While they still perform a fair amount of basic tasks, the added responsibility will provide room to further improve existing skill sets.

Senior VP analyst

Senior analysts are heavily involved in the final interpretation of data before it is presented to stakeholders (such as institutional investors or company management). Thus, they represent the “face” of an organization more than an associate or a mid-level analyst. Some additional duties involve taking ownership of the covered sector coverage, build relationships with investor relations teams of covered companies, communicating with clients, and making well-informed recommendations. Due to the technical nature of this position, many senior analysts will seek to obtain a master’s degree.

Research director

This final stage generally represents the top of the food chain within the career of a research analyst. Directors are responsible for overseeing the day-to-day operations of a firm. The duties can vary in accordance with the exact position, but some core roles include:

• Approving the onboarding of new employees.
• Monitoring team performance.
• Meeting with high-level clients and travelling when required.
• Defining the overall mission statement of an organization.
• Determining which asset classes/opportunities are in alignment with short- and long-term goals.

Due to the sheer number of responsibilities associated with a research director, up to 7 years of prior managerial experience may be required.

Research analyst salary

How much can you expect to earn as a research analyst? This will once again be based on experience and the exact role. Let’s compare typical average salaries of those working in financial centres in the UK and the US.

Expected research analyst salaries in London

Expected research analyst salaries in New York

As this illustrates, research analysts in the US could generally expect to receive higher pay than those in the UK (and indeed the rest of Europe). It’s important to point out that salaries can range quite significantly between firms and location, with larger banks usually paying higher than smaller ones.

How to become a research analyst

Most research analysts will require a formal university degree in subjects such as economics, business, finance, or accounting in order to join as an entry level associate. That said, obtaining a summer internship whilst still studying can certainly improve your odds to secure a full time role before graduating. 

From there, it’s a matter of performing well, gaining experience and keeping an eye out for opportunities. Research teams can often be smaller than in other financial roles like investment banking , which means opportunities to progress can be more limited. It may therefore be necessary to move between firms to rise up the ranks more quickly.

Those who wish to switch their careers from a different financial role , such as investment banking into equity research could do so given the high transferable skills. However, it may be still necessary to begin at an entry-level position. The primary difference is that those with prior experience will tend to ascend faster through the hierarchy.

What types of skills do recruiters look for when headhunting potential research analysts? While technical knowledge is certainly important, a handful of traits are just as critical, including:

• A familiarity with financial analysis software and the ability to learn new programs.
• An understanding of human behaviour and behavioural finance (important when identifying specific trends).
• Superior levels of reading, writing, communication and data analysis.
• The ability to maintain focus within individual and group settings.

Above all, analysts should always possess the ability to embrace new skills; the learning curve within this career never truly ends.

What qualifications are useful as a research analyst?

The competitive nature of this field dictates that candidates who possess prior qualifications tend to be hired quicker than those with little knowledge other than a university degree. Thankfully, a number of the best finance certifications are available to those either already working as a research analyst, or hoping to do so, and each of these offers its own unique advantages.

Chartered Financial Analyst (CFA)

Those who hold a CFA (Chartered Financial Analyst) distinction will already possess an advantage over their competitors. As perhaps the gold standard of financial qualifications, a CFA charter demonstrates real-world skills and knowledge that are highly relevant to anyone wanting to begin or already following a research analyst career path. There are nearly 170,000 CFA charterholders worldwide ( some of these being research analysts ) and this number is expected to grow into the future.

Chartered Alternative Investment Analyst (CAIA)

A Chartered Alternative Investment Analyst (CAIA) certification is another useful “string to the bow” for research analysts. As a growing number of investors and organizations are interested in diversification and seeking higher returns, those who possess a working knowledge of alternative investment opportunities are now in high demand. More than 70,000 professionals are certified as CAIA charterholders and while narrower in scope when compared to the CFA, it is becoming extremely popular amongst a range of finance professionals.

Environmental, Social & Governance (ESG) certifications

Environmental, social and governance (ESG) concerns are becoming increasingly important topics in this day and age. This is particularly relevant when discussing buy-side analysts due to the amount of transparency that is now required. Those holding an ESG certification will be able to appreciate the environmental impacts of their recommendations while also being capable of assessing any potential risks that may be present.

As investment groups become even more concerned with potential compliance issues, ESG analysts are now more relevant than ever before, and qualifications like the CFA Institute’s Certificate in ESG Investing (and a whole range of ESG qualification options ) are designed to equip finance professionals with the skills to navigate this fast growing sector.

Master of Business Administration (MBA)

An MBA (Master of Business Administration) certification is another possible option for those involved in the research analysis sector. This is generally something undertaken by those wanting to move into a senior analyst or director role, as they will be required to oversee the day-to-day operations of an organization as well as its subordinates.

An MBA is also an excellent way to increase one’s existing salary; some studies finding that annual pay rate may rise by up to 50%. Whether an MBA versus a CFA or other financially focused qualification is the best choice largely depends on the individual and the way in which they’re aiming to progress their career.

Research analyst career outlook

Aside from strong data analysis skills, candidates will also need to possess a working knowledge of common financial software packages to handle bigger datasets. Some other notable observations include:

• The ability to adapt to a hybrid work environment.
• A greater focus upon ethical and sustainable investment opportunities.
• Critical thinking is expected to gain more weight within the field.

However, it is prudent to highlight that the demand for sell side equity research analysts has somewhat dampened in recent years. The US Bureau of Labor Statistics estimated that employment of research analysts (both buy and sell side) is expected to grow 6% on average from 2020-2030 , about as fast as the average for all occupations. This may be the result of increased regulations and leaner business models associated with lower commissions.

Although there are still opportunities, some are not as attractive as they once were. This brings us to the next point.

Research analyst exit options and opportunities

The good news is that those who have recently entered into the field of research analytics always have the opportunity to gain experience and to progress to higher professional levels. This is particularly the case for anyone who is a CFA charterholder or a similar certification.

What about potential exit opportunities? Assuming that you wish to change financial careers , numerous options may be available. For instance, the technical nature of this position may provide the ability to migrate into investment banking . Some other interesting alternatives include:

• Portfolio management
• Hedge funds
• Corporate finance/development
• Private equity
• Wealth management

The exact career path will ultimately depend upon your experience, interest and career goals.

Is a research analyst a good career choice for you?

Would the role of a research analyst fulfil your professional goals? Not only is this position quite varied, good salary and work life balance (compared to investment banking), but it is unique in the fact that there are a variety of potential exit opportunities in the future.

Still, there are some possible downsides. These include:

• The demand for sell-side analysts has diminished in recent times.
• It is not normally possible to obtain an entry-level position without a university degree.

Ultimately, it is wise to balance these observations with all of the other metrics highlighted throughout this article. If you’re interested in a fast-paced, yet sustainable finance career with a strong focus on combining analytical and qualitative work to make an informed decision, it’s likely that research analyst career may be suitable for you.

We hope the guide above shed some light on a research analyst career. Do you think  this career path suits you ? Let us know in the comments below!

Meanwhile, here are related articles which you may find interesting:

• Finance Career Quiz: Which Finance Career Fits Your Skills & Personality?
• CFA Careers: What Are Typical Job Opportunities for CFA Charterholders?
• Why is ESG Important and Which Careers Can Benefit From It?
• Finance Career Change: Plan Your Finance Career Switch With Our Free Tool
• Epic Career Path Guides:  Accounting  |  Investment Banking  |  Corporate Finance | Portfolio Management | Financial Planning  | Private Equity | Wealth Management | Risk Management | Hedge Funds | Fintech

1 thought on “Research Analyst Career Path: Roles, Salaries & Progression”

Excellent prescrived above for research analyst carrer and qualification skill devolups

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Institute for Defense Analyses

Research analyst – entry-level phd.

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We support transparency, equity, and fairness in our compensation program and provide a reasonable estimate of the salary range based on data-driven market analysis for each position. While it is not typical for an individual to be hired at or near the top of the range, a reasonable estimate of the salary range for this role is $112,924-$263,335. Individual salary within this range will be commensurate with the incumbent’s experience, unique skills and qualifications, and other relevant factors.

What is the Institute for Defense Analyses (IDA)?

IDA is a non-profit that is uniquely positioned to answer the most challenging U.S. security and science questions with objective and rigorous analysis leveraging extraordinary scientific, technical, and analytic expertise. Work at IDA is conducted in a team environment and often involves a multi-disciplinary approach.

IDA has an immediate opening in the Science, Systems, and Sustainment Division (S3D) for a Research Analyst with technical expertise and data analysis skills. The ideal candidate is eager to support the broad spectrum of research conducted in S3D. S3D explores topics that span the technology life cycle, from basic science, system implementation and analyses, and the sustainment of deployed systems. Example tasks included assessing the performance of individual military or intelligence systems; determining the effectiveness of various force mixes in a mission or campaign context; observing test and evaluation of systems in development; looking at the impacts of climate on national security; assessing the physical security of critical infrastructure; and reviewing the utility of novel and emergent technologies. IDA takes great pride in the high caliber and timeliness of its analyses, which are produced in a collegial atmosphere that encourages independent thinking, teamwork, and objective results. IDA provides an inclusive work environment and a comprehensive and competitive salary and benefits package.

Responsibilities

Research Analysts are responsible for contributing to scientifically sound research and providing technical review for others’ research products. IDA addresses diverse and ever-changing topics. Research Analysts are expected to be adaptable, self-motivated, and committed to life-long learning; capable of working independently or as a member of an interdisciplinary research team; and able to work multiple projects concurrently. Specific research-related activities expected of Research Analysts include:

• Develop and maintain relationships with potential sponsors and stakeholders in the national security community to identify emerging issues.
• Engage effectively with sponsors to understand their issues and constraints, and develop responsive research plans.
• Formulate research questions that address sponsors’ challenging and complex problems, and are informed by the broader context of national security.
• Identify key factors of the issue under study, and create and execute appropriate quantitative analytic methodologies, including novel computational and model-based approaches.
• Interact with government officials, military personnel, and other subject matter experts during the research process.
• Analyze, evaluate, and integrate data and model results to develop strategic and actionable insights.
• Prepare reports and presentations documenting findings, conclusions, and recommendations and effectively communicate the results of IDA’s analysis to sponsors and selected audiences.

Qualifications

• PhD in Engineering, Physics, Chemistry, Applied Mathematics, Operations Research, or a closely related field of science, technology, or research.
• A demonstrated record of research accomplishments in the field of study.
• A demonstrated ability to perform independent research.
• Significant programming experience, preferably with modern programming environments and languages (C++, Python, R, MATLAB, etc.)
• Strong written, oral, and interpersonal communication skills, particularly the ability to communicate technical information to technical and non-technical audiences.
• Significant interest in Department of Defense issues, military operations, and related subjects is desired.
• Successful completion of a criminal background check is required.
• Travel (domestic or international) may be required.

Why work at IDA?

IDA, as a non-profit, is uniquely positioned to answer the most challenging U.S. security and science questions with objective and rigorous analysis leveraging extraordinary scientific, technical, and analytic expertise. This position is located in Alexandria, VA, just outside Washington, D.C.

IDA offers the following benefits and resources to their employees:

• Comprehensive benefits including diverse health insurance options, generous 11% contribution to retirement, maternity/paternity leave, 20 days paid time off, and relocation reimbursement;
• Mission-oriented work at a non-profit that supports and protects our warfighters; as a non-profit, IDA employees are eligible for Public Service Loan Forgiveness (PSFL);
• Professional development including tuition reimbursement, internal and external trainings, and funding for researcher-pitched projects and publications;
• A culture of work-life balance, including flex time, partial telework, and limiting work communication to core business hours;
• A brand-new facility located in Alexandria’s high-tech corridor in Potomac Yard; amenities include a cafeteria, gym, and close proximity to local dining and shopping; and
• Easy access to Potomac Yard Metro stop and Potomac Yard DASH bus stop. Employer contributes $300/month (IRS max) to commuter benefits.

What are the next steps?

• Complete the application and submit your resume.

The application process consists of three interviews.

• A short screening call with HR;
• A 30 min – 60 min screening call with researchers; and
• A full day interview with various researchers and staff; includes giving an hour presentation on a research project.

Prior to the full day interview, you will be asked to provide:

• Transcripts (unofficial accepted);
• 3 letters of recommendation; and
• A writing sample.

U.S. Citizenship is required

Ability to obtain and maintain a security clearance is required

IDA is an equal opportunity employer committed to providing a fair recruiting process and working environment free from discrimination. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identify, national origin, disability or protected veteran status. Click here to learn more about IDA’s commitment to diversity, equity, and inclusion.

We respectfully acknowledge the University of Arizona is on the land and territories of Indigenous peoples. Today, Arizona is home to 22 federally recognized tribes, with Tucson being home to the O'odham and the Yaqui. Committed to diversity and inclusion, the University strives to build sustainable relationships with sovereign Native Nations and Indigenous communities through education offerings, partnerships, and community service.

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3 Things to Know About Intel's Disastrous Report

• Intel missed expectations, provided weak guidance, and announced a massive round of layoffs on Thursday.
• Excess customer inventories will hurt PC chip sales in the third quarter, and data center spending is still focused on AI chips rather than CPUs.
• The foundry strategy is still on track, but it's going to be a rough year or two as Intel navigates a tough environment.
• Motley Fool Issues Rare “All In” Buy Alert

NASDAQ: INTC

It was a lot of bad news all at once from the chipmaker.

Semiconductor giant Intel ( INTC -26.06% ) was expecting demand in its core markets to pick back up in the second quarter, but that demand failed to materialize. In the company's conference call with analysts on Thursday, chief financial officer David Zinsner said, "... the market has not recovered as expected, and we're obviously not satisfied with our results." 

Intel missed analyst expectations across the board, reported an unexpectedly large loss, and guided for a bigger revenue decline in the third quarter. The company is taking drastic actions to lower costs and free up cash as it continues to plot its turnaround.

Intel will reduce its head count by more than 15%, slash operating expenses by billions of dollars over the next few years, reduce its capital spending to better reflect market demand, and suspend its dividend until cash flow improves. The market reacted to this barrage of bad news as one would expect, sending shares down nearly 30% by Friday afternoon.

There's a lot to unpack in Intel's second-quarter report, but here are a few key things that investors need to know.

1. Customers have too much inventory

The PC market has begun to bounce back after a post-pandemic plunge, but the recovery has been sluggish. Gartner reported that global PC shipments increased by just 1.9% year over year in the second quarter and that PC inventories were still a bit elevated.

That lines up with Intel's results. While Intel's client computing group saw a 9% jump in revenue during the second quarter, the company noted that customer inventories are still not quite normal. In the third quarter, it expects its client segment to be flat to down as that inventory is digested.

2. AI chips are crowding out CPUs

Intel faces multiple problems in its data center business. First, the company has fallen behind rival AMD in performance and efficiency. It is looking to change the story with two new server chip families this year.

The Sierra Forest central processing unit (CPU), with a large number of efficiency cores, is aimed at cloud workloads, while the more traditional Granite Rapids is meant for workloads that need raw power. Sierra Forest has already launched, and Granite Rapids will launch in the third quarter. Both are built on the Intel 3 process, and the next-gen versions of each will move to the upcoming Intel 18A process.

The second problem for Intel is that data center customers are focused on building out their AI footprints . Much of the spending in the data center is going toward AI accelerators, where Intel has a small presence, rather than CPUs.

AI servers still need CPUs, and Intel is having success positioning its Xeon server chips as the "head node" used to manage AI server clusters. However, that's not enough to drive meaningful growth.

The company does expect the situation to improve in the second half of the year as the traditional server market rebounds, but only modestly.

3. The foundry strategy is on track

Despite the layoffs and cost cuts, Intel remains on track to complete its rollout of five nodes in four years, key to its plan to grow into the world's second-largest foundry by 2030.

The foundry business has started to generate some external revenue from advanced packaging services, although this number is currently small. Once the Intel 18A process is ready in early 2025 and ramps up in volume in 2026, external foundry revenue will grow in earnest. During the earnings call, CEO Pat Gelsinger reiterated that 2027 is still a good target for when the foundry business is expected to break even.

Getting its advanced processes up and running is crucial for Intel's product segment as well. Manufacturing of Lunar Lake, the company's upcoming laptop CPUs, is outsourced to Taiwan Semiconductor Manufacturing , leading to higher costs. Much of Intel's existing CPU lineup uses its older nodes, which have "uncompetitive cost structure and power performance," according to Zinsner.

Intel remains confident that its target of producing $15 billion in annual external foundry revenue by 2030 is still achievable despite the cost cuts.

A painful period for Intel

Turnarounds aren't easy, especially for a sprawling company like Intel. The foundry strategy is still a few years away from really paying off, and in the meantime, demand for the company's core products remains muted.

The good news is that Intel has a solid product line through the end of 2025. On the PC side, Lunar Lake for laptops and Arrow Lake for desktops arrive this year, and the Intel 18A-built Panther Lake comes in 2025.

On the server side, after Sierra Forest and Granite Rapids this year comes Clearwater Forest next year and an unnamed successor to Granite Rapids. As the company moves chips onto its Intel 18A process, competitiveness should increase, and the cost structure should improve.

Intel stock is not for the faint of heart. The company's overall strategy still looks promising, but the path forward is riddled with potholes, land mines, and brick walls. Expect the stock to be volatile as Intel scrambles to turn itself around over the next few years.

Timothy Green has positions in Intel. The Motley Fool has positions in and recommends Advanced Micro Devices and Taiwan Semiconductor Manufacturing. The Motley Fool recommends Gartner and Intel and recommends the following options: long January 2025 $45 calls on Intel and short August 2024 $35 calls on Intel. The Motley Fool has a disclosure policy .

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Cloud infrastructure revenue approached $80 billion this quarter

With ai propelling the market forward.

The cloud infrastructure market has put the doldrums of 2023 firmly behind it with another big quarter. Revenue continues to grow at a brisk pace, fueled by interest in AI. Synergy Research reports revenue totaled $79 billion for the quarter, up $14.1 billion or 22% from last year.

This marked the third consecutive quarter that year-over-year growth was 20% or more and AI was a big part of that growth, according to Synergy.

The bottom line is that the cloud, in spite of last year’s hiccups, is showing little sign of slowing down. Even with some element of political and economic uncertainty on the horizon, Synergy chief analyst John Dinsdale sees a market that will continue to grow, with the firm expecting the market to double again in four years’ time. It took 13 quarters to double from $40 billion to almost $80 billion (which it will surpass soon).

One surprise this quarter was Microsoft Intelligent Cloud, which includes Azure, missing analysts’ estimates. The company reported $28.52 billion versus analysts’ expectations of $28.68 billion, per CNBC; Azure still grew 30% , per Altimeter partner Jamin Ball, so it wasn’t all bad news.

Dinsdale says that it’s important, however, not to make too much out of the miss. “Microsoft’s Intelligent Cloud quarterly revenues came in within the guidance range provided by Microsoft three months ago. To be growing a $28.5 billion business by 19% a year is no mean feat. Azure is the largest chunk of Intelligent Cloud and it grew by 29% [for the quarter], which is actually rather impressive,” he told TechCrunch.

Amazon reported revenue of $26.3 billion for the quarter , up 19% over the prior year, as it seems to have settled into this growth rate range for the time being after dipping into the 12% and 13% range in early 2023.

Google Cloud had a nice quarter pushing over $10 billion for the first time, up 29% YoY, per Ball. But it’s important to note his number includes Google Workspace, as well as infrastructure services. More importantly, perhaps, the company gained a full percentage point of market share, according to Synergy, whose numbers don’t include Workspace.

The overall market share numbers came out to 32% (around $25 billion) for Amazon; 23% (around $18 billion) for Microsoft; and 12% (around $9.5 billion) for Google. It’s worth noting that Microsoft lost approximately two percentage points of market share over last quarter , according to Synergy, yet continues to grow at a brisk rate — a point that Dinsdale acknowledged, attributing the drop to seasonality in the Azure sales cycle.

“There is some seasonality to Azure numbers and sequential growth is often weak in the April-June quarter after strong growth in the previous quarters. That happened again,” he said. “While Azure did not grow relative to the first quarter, both Amazon and Google did and their market shares both improved. If you take out the seasonality and look at rolling annualized growth rates, Azure actually grew more than either Google or Amazon. Azure is most definitely not in a trough.”

In the next tier of companies, Oracle nudged up to 3%, passing IBM and tying Salesforce for fifth place overall. While that might sound good, the Big 3 account for more than 73% of the market, but 3% is still good for over $2 billion in revenue.

It does get confusing looking at the different ways the companies and the firms that watch them count cloud numbers. Ball is looking at publicly reported information. Synergy looks at infrastructure as a service, platform as a service and hosted private cloud services. It does not count SaaS and includes some of its own market analysis in its numbers.

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• The company says it's going to keep spending big this year to support AI research and development.
• Investors cheered despite the plans for increased spending. Meta's stock rose nearly 7% after hours.

Investors seem to be backing Meta's continued heavy spending on AI .

The social media giant surpassed analyst expectations in its second-quarter earnings report released Wednesday. Its revenue hit $39 billion, a 22% increase over the same period last year. Wall Street analysts had expected just over $38 billion.

Meanwhile, the company said it expects infrastructure costs — such as the money it's plowing into building its artificial intelligence capabilities — to be a "significant driver of expense growth." It's expecting to spend at least $35 billion to $37 billion this year — an increase from its last estimate. It kept its maximum spend estimate at $40 billion for the year.

And it is planning to keep spending in 2025, too.

"While we continue to refine our plans for next year, we currently expect significant capital expenditures growth in 2025 as we invest to support our artificial intelligence research and product development efforts," the company said in its earnings report.

Even after saying it would spend more, investors apparently liked what they heard: Meta's stock zoomed ahead nearly 7% in after-hours trade. It's up nearly 40% so far this year.

Meta CEO Mark Zuckerberg said on the investor call that the big focus is "figuring out the right amount" of infrastructure for the AI future. Meta is planning the computing clusters and data centers for the next several years, he said, but it's "hard to predict" how that'll pan out.

"I'd rather risk building capacity before it's needed rather than too late," Zuckerberg said.

Meta's bullish attitude toward AI spending isn't new.

Zuckerberg has shared plans to purchase 350,000 Nvidia GPUs by the end of 2024, bringing Meta's GPU collection to roughly 600,000. Analysts have estimated Meta could spend about $18 billion by the end of 2024. A JPMorgan analyst said the company's costs could hit $50 billion by 2025, according to a report from Quartz.

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Still, the reaction from investors was a sharp contrast from Microsoft's earnings on Tuesday. While Microsoft reported an overall positive quarter in terms of revenue, Microsoft Azure spending slightly missed estimates and shares dropped in post-market trading by more than 6%. They lost another 1% on Wednesday.

Unlike Microsoft, Meta seemed to persuade investors it was moving in the right direction with its AI investments with growth in key areas of investment.

"We've released the first frontier-level open-source AI model," Zuckerberg said. "We continue to see good traction with our Ray-Ban Meta AI glasses and we're driving good growth across our apps."

Still, similar to Microsoft, Meta executives said that over the long-term, they expect their stepped-up investments in AI to pay off.

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