|Quick Facts: Market Research Analysts|
|2012 Median Pay||$60,300 per year
$28.99 per hour
|Entry-Level Education||Bachelor’s degree|
|Work Experience in a Related Occupation||None|
|Number of Jobs, 2012||415,700|
|Job Outlook, 2012-22||32% (Much faster than average)|
|Employment Change, 2012-22||131,500|
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.
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 often require a master’s degree. Strong math and analytical skills are essential.
The median annual wage for market research analysts was $60,300 in May 2012.
Employment of market research analysts is projected to grow 32 percent from 2012 to 2022, 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.