Market Researcher Salary
Earnings for Market Researchers in the United States come in at around $51K per year on average. Experience level and the particular city each impact pay for this group, with the former having the largest influence. Although a fair number have medical coverage and the larger part have dental coverage, between a fifth and a fourth claim no health benefits at all. Job satisfaction for Market Researchers is high. Men make up a slight majority of Market Researchers (51 percent) who responded to the survey. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.
Job Description for Market Researcher
Market researchers are in charge of researching all aspects of the market on behalf of their organization. They are responsible for completing different research tasks and analyzing raw data, conducting assessments, surveys, and other research to obtain valuable information on the market in which their company operates. Market researchers create detailed research reports and generate conclusions based on their findings. They use a personal computer as one of their main tools to gather market data and utilize different research methods to support their conclusions.Read More...
Other tasks performed by market researchers include working closely with product teams to identify research topics, sharing information with other researchers, and working with design, product marketing, product management, content strategy, and engineering teams to develop more effective company offerings. Market researchers conduct in-person, telephone, and online assessments to gather opinions on the products and services offered by their company. Market researchers strive to communicate results and illustrate suggestions in compelling and creative ways.
A bachelor's degree in marketing, psychology, or a related field is necessary for this position. Previous experience in market research is generally required or preferred. Market researchers must work well in a team environment, but they also must be able to perform effectively by themselves with minimal supervision. They need to work effectively in a fast-paced environment and be able to multitask efficiently on a variety of projects.
Market Researcher Tasks
- Assist in the development of marketing plans.
- Track and analyze marketing and sales trends, forecasts and prepare reports in order to measure the effectiveness of programs.
- Conduct research market conditions in specific areas, and analyze customer preferences to determine potential sales of a product or service.
- Gather data on competitors and past sales to analyze prices and methods of marketing and distribution.
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Popular Skills for Market Researcher
Market Researchers note just a narrow range of job skills. Most notably, skills in Project Management, Research Analysis, Data Analysis, and Market Research are correlated to pay that is above average. Market Analysis and Market Research as skills, however, tend to be associated with significantly smaller paychecks. For most people, competency in Market Research indicates knowledge of Data Analysis.
Pay by Experience Level for Market Researcher
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Respondents with less than five years' experience take home $41K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $79K. Market Researchers who work for 10 to 20 years in their occupation tend to earn about $76K. People who have worked for 20 years or more actually report earning less than people who are in the middle of their careers; the veterans take home a mere $65K by contrast.
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Key Stats for Market Researcher
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