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:
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:
| 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.
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.
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.
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.
Analytical skills. Market research analysts must evaluate large amounts of data and information related to market conditions.
Communication skills. Market research analysts must be able to clearly convey information when gathering material, interpreting data, and presenting results to clients.
Critical-thinking skills. To determine which marketing strategies would work best for a company, market research analysts must assess all available information.
Detail oriented. Market research analysts must pay attention to minutiae to evaluate data.
Median annual wages, May 2021
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.
Percent change in employment, projected 2021-31
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.
| Occupational Title | SOC Code | Employment, 2021 | Projected Employment, 2031 | Change, 2021-31 | Employment by Industry | ||
|---|---|---|---|---|---|---|---|
| Percent | Numeric | ||||||
SOURCE: U.S. Bureau of Labor Statistics, Employment Projections program |
|||||||
Market research analysts and marketing specialists |
13-1161 | 792,500 | 942,800 | 19 | 150,300 | Get data | |
For more information about market research analysts, visit
For resources and information about qualitative research, visit
Qualitative Research Consultants Association (QRCA)
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