Market research analysts held about 792,500 jobs in 2021. The largest employers of market research analysts were as follows:
| Management, scientific, and technical consulting services | 11% |
| Finance and insurance | 10 |
| Management of companies and enterprises | 7 |
| Wholesale trade | 7 |
| Publishing industries (except Internet) | 4 |
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.
Education
Market research analysts typically need a bachelor's degree in market research or a related business, communications, or social science field.
Courses in statistics, research methods, and marketing are important for prospective analysts. Courses in communications and social sciences, such as economics or consumer behavior, are also helpful.
Some employers of market research analysts require or prefer a master’s degree. Several schools offer graduate programs in marketing research, but analysts may choose to complete a bachelor’s degree in another field, such as statistics and marketing, and earn a master’s degree in business administration (MBA). A master’s degree is often required for leadership positions or positions that perform more technical research.
Licenses, Certifications, and Registrations
Analysts may pursue certification, which is voluntary, to demonstrate a level of professional competency. The Insights Association offers several certifications for market research analysts, including the IPC Principal and the IPC Masters. Candidates qualify based on industry experience and passing an exam.
Other Experience
Completing an internship while in school may be helpful. Prospective analysts also may gain experience by volunteering for an organization and helping with market research or related projects.
Employers may prefer to hire candidates who have experience in other positions that require collecting and analyzing data or writing reports to summarize research.
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:
| Management of companies and enterprises | $79,640 |
| Publishing industries (except Internet) | 79,450 |
| Finance and insurance | 76,650 |
| Wholesale trade | 64,090 |
| Management, scientific, and technical consulting services | 62,650 |
Most market research analysts work full time during regular business hours.
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
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
For resources and information about qualitative research, visit
Qualitative Research Consultants Association (QRCA)