market research analyst career cluster

What is a Market Research Analyst?

Learn about the role of Market Research Analyst, what they do on a daily basis, and what it's like to be one.

• What is a Market Research Analyst
• How to Become
• Certifications
• Tools & Software
• LinkedIn Guide
• Interview Questions
• Work-Life Balance
• Professional Goals
• Market Research Analyst Resumes
• Market Research Analyst Cover Letters

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Definition of a Market Research Analyst

What does a market research analyst do, key responsibilities of a market research analyst.

• Designing and executing market research studies, including surveys, focus groups, and interviews
• Collecting and analyzing quantitative and qualitative data from primary and secondary sources
• Identifying and monitoring market trends, consumer preferences, and competitive activities
• Conducting competitive analysis to assess the strengths, weaknesses, and positioning of competitors
• Developing and presenting comprehensive market research reports and data visualizations
• Collaborating with cross-functional teams, such as product development, marketing, and sales, to align research efforts with business objectives
• Recommending data-driven strategies and actionable insights to support decision-making processes
• Evaluating the effectiveness of marketing campaigns and product launches through post-launch analysis
• Identifying potential market opportunities and threats by analyzing industry trends and consumer behavior
• Staying up-to-date with the latest market research techniques, tools, and industry best practices
• Managing research projects, timelines, and budgets to ensure efficient and cost-effective execution
• Mentoring and training junior research analysts to enhance team capabilities and knowledge sharing

Day to Day Activities for Market Research Analyst at Different Levels

Daily responsibilities for entry level market research analysts.

• Conducting secondary research using online databases and industry reports
• Assisting with the design and execution of surveys and focus groups
• Performing data entry and cleaning tasks for research datasets
• Conducting basic statistical analysis and preparing data visualizations
• Supporting the development of research reports and presentations
• Assisting in the coordination of research projects with internal and external stakeholders

Daily Responsibilities for Mid Level Market Research Analysts

• Developing comprehensive research plans and methodologies
• Managing and mentoring junior research team members
• Conducting advanced statistical analysis and modeling techniques
• Collaborating with cross-functional teams to align research efforts with business objectives
• Presenting research findings and recommendations to stakeholders
• Overseeing the implementation of research insights into business strategies

Daily Responsibilities for Senior Market Research Analysts

• Developing and overseeing the implementation of comprehensive market research strategies
• Leading and mentoring large research teams across multiple specializations
• Collaborating with C-level executives to align research initiatives with business goals
• Identifying and evaluating new research methodologies and technologies
• Managing relationships with key partners, vendors, and industry experts
• Driving research innovation and best practices across the organization

Types of Market Research Analysts

Consumer behavior analysts, market segmentation analysts, competitive intelligence analysts, product research analysts, brand equity analysts, what's it like to be a market research analyst , work environment, working conditions, how hard is it to be a market research analyst, is a market research analyst a good career path, faqs about market research analysts, how do market research analysts collaborate with other teams within a company, what are some common challenges faced by market research analysts, what does the typical career progression look like for market research analysts.

How To Become a Market Research Analyst in 2024

Related Career Paths

Uncovering insights through data, driving strategic decisions with informed analysis

Transforming data into insights, driving strategic business decisions and growth

Uncovering market trends and insights to drive strategic business decisions and competitive edge

Uncovering consumer behaviors and trends to drive strategic business decisions and growth

Driving business growth and efficiency through data-driven insights and strategic analysis

Unlocking business insights through data, driving strategic decisions with numbers

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Market Research Analyst

Market research analysts study consumer preferences, business conditions, and other factors to assess potential sales of a product or service. They help companies understand what products people want, who will buy them, and at what price.

Market research analysts typically do the following:

• Monitor and forecast marketing and sales trends
• Measure the effectiveness of marketing programs and strategies
• Devise and evaluate methods for collecting data, such as surveys, questionnaires, and opinion polls
• Gather data on consumers, competitors, and market conditions
• Analyze data using statistical software
• Convert data and findings into tables, graphs, and written reports
• Prepare reports and present results to clients and management

Market research analysts gather data and study other information to help a company promote its products or services. They gather data on consumer buying habits, demographics, needs, and preferences. They collect data and information using a variety of methods, such as focus groups, interviews, literature reviews, market analysis surveys, public opinion polls, and questionnaires.

Analysts help determine a company’s position in the marketplace by researching their competitors and studying their marketing methods, prices, and sales. Using this information, analysts may determine potential markets, product demand, and pricing. Their knowledge of the targeted consumer enables analysts to develop advertising brochures and commercials, product promotions, and sales plans.

Market research analysts evaluate data using statistical techniques and software. They must interpret what the data mean for their client, and they may forecast future trends. They often make charts, graphs, infographics, and other visual aids to present the results of their research.

Workers who design and conduct surveys that market research analysts use are survey researchers.

Market research analysts held about 792,500 jobs in 2021. The largest employers of market research analysts were as follows:

Because most industries use market research, these analysts are employed throughout the economy.

Market research analysts work individually or as part of a team, collecting, analyzing, and presenting data. For example, some analysts work with graphic designers and artists to create charts, graphs, and infographics summarizing their research and findings.

Work Schedules

Most market research analysts work full time during regular business hours.

Market research analysts typically need a bachelor’s degree. Some employers require or prefer that job candidates have a master’s degree. Strong research and analytical skills are essential.

Market research analysts typically need a bachelor's degree in market research or a related business, communications, or social science field.

Courses in statistics, research methods, and marketing are important for prospective analysts. Courses in communications and social sciences, such as economics or consumer behavior, are also helpful.

Some employers of market research analysts require or prefer a master’s degree. Several schools offer graduate programs in marketing research, but analysts may choose to complete a bachelor’s degree in another field, such as statistics and marketing, and earn a master’s degree in business administration (MBA). A master’s degree is often required for leadership positions or positions that perform more technical research.

Licenses, Certifications, and Registrations

Analysts may pursue certification, which is voluntary, to demonstrate a level of professional competency. The  Insights Association  offers several certifications for market research analysts, including the IPC Principal and the IPC Masters. Candidates qualify based on industry experience and passing an exam.

Other Experience

Completing an internship while in school may be helpful. Prospective analysts also may gain experience by volunteering for an organization and helping with market research or related projects.

Employers may prefer to hire candidates who have experience in other positions that require collecting and analyzing data or writing reports to summarize research. 

Market research analysts typically have an interest in the Thinking, Persuading and Organizing interest areas, according to the Holland Code framework. The Thinking interest area indicates a focus on researching, investigating, and increasing the understanding of natural laws. The Persuading interest area indicates a focus on influencing, motivating, and selling to other people. The Organizing interest area indicates a focus on working with information and processes to keep things arranged in orderly systems.

If you are not sure whether you have a Thinking or Persuading or Organizing interest which might fit with a career as a market research analyst, you can take a career test to measure your interests.

Market research analysts should also possess the following specific qualities:

Analytical skills. Market research analysts must be able to understand large amounts of data and information. 

Communication skills. Market research analysts need strong communication skills when gathering information, interpreting data, and presenting results to clients. 

Critical-thinking skills. Market research analysts must assess all available information to determine what marketing strategy would work best for a company.

Detail oriented. Market research analysts must be detail oriented because they often do precise data analysis.

The median annual wage for market research analysts was $63,920 in May 2021. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $37,570, and the highest 10 percent earned more than $128,320.

In May 2021, the median annual wages for market research analysts in the top industries in which they worked were as follows:

Employment of market research analysts is projected to grow 19 percent from 2021 to 2031, much faster than the average for all occupations.

About 99,800 openings for market research analysts are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire. 

Employment growth will be driven by an increasing use of data and market research across many industries. These workers will be needed to help understand the needs and wants of customers, measure the effectiveness of marketing and business strategies, and identify the factors affecting product demand.

The increase in the collection and analyses of big data—extremely large sets of information, such as social media comments or online product reviews—can provide insight on consumer behaviors and preferences. Businesses will need market research analysts to conduct analyses of the data and information.

For more information about market research analysts, visit

Insights Association

For resources and information about qualitative research, visit

Qualitative Research Consultants Association  (QRCA)

Where does this information come from?

The career information above is taken from the Bureau of Labor Statistics Occupational Outlook Handbook . This excellent resource for occupational data is published by the U.S. Department of Labor every two years. Truity periodically updates our site with information from the BLS database.

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I think I have found an error or inaccurate information on this page. Who should I contact?

This information is taken directly from the Occupational Outlook Handbook published by the US Bureau of Labor Statistics. Truity does not editorialize the information, including changing information that our readers believe is inaccurate, because we consider the BLS to be the authority on occupational information. However, if you would like to correct a typo or other technical error, you can reach us at [email protected] .

I am not sure if this career is right for me. How can I decide?

There are many excellent tools available that will allow you to measure your interests, profile your personality, and match these traits with appropriate careers. On this site, you can take the Career Personality Profiler assessment, the Holland Code assessment, or the Photo Career Quiz .

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Market research analyst work environment

We surveyed 3,163 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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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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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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Market Research Analyst Career

What is a market research analyst .

Positioned at the crossroads of psychology, data science, and advertising, market research analysis involves leveraging qualitative and quantitative information to enhance marketing strategies. Market research analysts and marketing specialists provide data-informed marketing guidance to companies. They’re skilled researchers who scour web analytics, sales records, social media platforms, and customer feedback to collect data and uncover valuable insights. Market research analysts translate disjointed, complex information into cohesive action plans that marketing teams use to expand their audience, increase sales, and better meet customers’ needs. If you’re an analytical thinker with an interest in marketing, the market research analyst career may be right for you. 

RESPONSIBILITIES

What Does a Market Research Analyst Do? 

The day in the life of a market research analyst involves a mixture of data collection, statistical analysis, reporting, presentations, and cross-team collaboration. While job duties can vary depending on the industry and marketing goals, this dynamic career typically involves the following responsibilities: 

• Developing data-collection tools such as customer satisfaction surveys and questionnaires.
• Interviewing customers and conducting focus groups to understand the target audience’s opinions and perceptions of the brand. 
• Collecting and analyzing data from web analytics tools, social media interactions, online reviews, sales statistics, and customer relationship management (CRM) systems. 
• Estimating potential sales. 
• Visualizing and summarizing numerical information using graphs, charts, tables, and infographics.
• Developing action plans detailing the suggested marketing goals and strategies. 
• Recommending new marketing tactics to company leaders.
• Evaluating sales data and analytics to determine the success of the company’s marketing initiatives.
• Investigating competitors’ products, services, systems, and advertising methods.
• Closely following emerging consumer trends, market fluctuations, and industry dynamics.

EDUCATION & BEST DEGREES

How do i become a market research analyst .

The market research field attracts individuals of diverse educational backgrounds. If you’re interested in this multifaceted and evolving profession, consider earning a degree in marketing, business, or psychology. While each educational route provides a unique skill set and knowledge base, they can all establish the foundation for a thriving market research analyst career. Professionals with a B.S. in Psychology , for example, use their understanding of human behavior to identify customers’ needs and devise persuasive marketing strategies. Psychology programs emphasize quantitative and qualitative data collection and analysis—abilities that are crucial for a research analyst job. 

A  B.S. in Business Administration–Marketing  or  B.S. in Business Administration–Business Management  can also set the stage for a prosperous market research analyst career. If you want to qualify for advanced positions with greater responsibilities and higher salaries, consider earning a master’s degree. An  M.S. in Marketing  can provide the in-depth knowledge needed to excel in this competitive job market. Once you’ve earned your degree, you may want to acquire one or more professional certifications. Certifications can further enhance your legitimacy as a research analyst and show employers that you have the expertise needed to succeed in this challenging career. WGU offers a self-directed, competency-based  Business Leadership Certificate  to help you develop your leadership abilities. The certificate curriculum is deliberately chosen to align with the competencies employers seek in job candidates.

Best Degrees for a Market Research Analyst

An online psychology program for students who want to make a difference in...

An online psychology program for students who want to make a difference in their life, and the lives of others.

• Time:  95% of students finish similar programs in less than 4 years.
• Tuition:  $4,085 per 6-month term.
• Courses:  34 total courses in this program.

Skills for your résumé included in this program: 

• Social psychology
• Consumer psychology
• Adult psychology
• Mental health awareness
• Psychopathology

This degree allows you to gain valuable knowledge and experience in the field of psychology and can prepare you for additional certifications or careers.

Hone your business acumen and garner added respect:...

Hone your business acumen and garner added respect:

• Time: 61% of graduates finish within 19 months
• Tuition:  $3,755 per 6-month term
• Courses : 40 total courses in this program

Skills for your résumé this program will teach you include: 

• Business communication
• Product development
• Decision making models
• Project management strategies
• Budgeting for business

This online degree program is an excellent choice for kick-starting your organizational management career.

For those who want to lead brands and steer consumer markets:...

For those who want to lead brands and steer consumer markets:

• Time: 60% of graduates finish within 19 months.
• Tuition:  $3,755 per 6-month term.
• Courses: 41 total courses in this program.

Skills for your résumé you will learn in this program include: 

• Communication
• Project Management
• Product Management

Marketing is a creative and exciting field—and one where an undergraduate degree will open better opportunities.

Two online marketing master's degree options with a focus on either...

Two online marketing master's degree options with a focus on either digital marketing or marketing analytics.

• Time:  61% of graduates finish WGU master's programs in 18 months
• Tuition:  $4,755 per 6-month term
• Courses:  10 total courses in this program
• Specialization:  Students choose from two specializations to focus their marketing studies on digital marketing or marketing analytics

Skills for your résumé that you will learn in this program:

• Strategic Planning
• Digital Marketing Analytics
• Presentations
• Market Research
• Communications

A marketing master's degree will help you prepare for a wide range of exciting marketing careers.

An online UX Design program designed for students who want to become...

An online UX Design program designed for students who want to become business-savvy designers that can generate best-in-class, customer-centric products and services.

• Time:  60% of students finish similar programs in 19 months.
• Courses:  38 total courses in this program

Skills for your résumé you will learn in this program:

• Wireframing and Prototyping
• Artificial Intelligence
• Accessible Design
• Figma Design Software
• UI/UX Research
• User Testing
• Adobe Express

This degree prepares you with relevant industry skills and experience that will help you move forward in your career.

How Much Does a Market Research Analyst Make? 

According to the U.S. Bureau of Labor Statistics (BLS), The median market research analyst salary is $68,230 per year . Annual wages range from less than $38,280 to more than $131,850. Salaries vary based on location, employer, and industry. 

What Is the Job Outlook for a Market Research Analyst? 

Consumers have more options than ever when choosing the companies they patronize. Businesses rely on market research analysts to provide data-driven insights to help them develop effective marketing campaigns and stand out from the competition. The BLS estimates that the need for market research analysts from 2022 to 2032 will grow by 13% . This favorable job outlook is primarily driven by the increasing use of data-informed marketing across industries. During this period, there will be an estimated 94,600 openings for market research analysts each year. 

What Skills Does a Market Research Analyst Need? 

Because it’s a multifaceted profession, market research analyst jobs require proficiency in multiple domains. You’ll need the following skills:

• Data collection and analysis. Through systematic data analysis, market research analysts pinpoint the marketing strategies with the greatest potential for advancing the business. 
• Research expertise . Navigating vast data sets isn’t easy, and marketing professionals must harness statistical knowledge, analytical thinking, and attention to detail to identify patterns and extract meaningful insights. 
• Communication . Because they explain complex marketing recommendations to stakeholders, market research analysts need a mix of strong verbal and written communication skills. 
• Strategic thinking. Strategic thinking allows market research analysts to collect data, account for relevant factors, prioritize information, and develop marketing initiatives that are practical, financially worthwhile, and aligned with the business’s broader goals.
• Continuous learning. By embracing a growth mindset, research analysts can stay abreast of market conditions and economic trends influencing their marketing strategies.
• Collaboration. Because the job intersects with so many other business sectors, teamwork is vital to being a market research analyst. 
• Technological proficiency. Market research analysts need to be proficient in various digital tools and technologies. They frequently use data from CRM systems, Google Analytics, HubSpot, SEMrush, and internal databases to inform their marketing approaches. 
• Project management. It’s common for marketing specialists to manage numerous initiatives simultaneously, so project management skills are essential. 
• Creativity. Market research analysts use their creative talent to design innovative research methodologies and marketing tactics. 
• Brand management. Ensuring that marketing tactics improve the target audience’s perception of the brand requires marketing know-how, ingenuity, and adaptability. 
• Social media marketing. Proficiency in content creation, customer relationship management, and data interpretation allows market research analysts to develop successful social media campaigns.

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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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