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 may require a master’s degree. Strong math and analytical skills are essential.
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.
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.