Marketing Analyst Salary
Job Description for Marketing Analyst
A market analyst helps businesses gain more insight into their products from a marketing perspective. Clients have certain unique marketing goals, and the market analyst creates a plan, analyzes the available data, and comes up with multiple potential solutions for the client. They accomplish this by looking at information such as the target audience’s demographic data, market data, and studies from organizations conducting research. The information they produce helps a company to better understand its potential and current customer bases, the current field of competition for their products or services, and its current price structures. These reports can also help the company develop an appropriate marketing strategy for products aimed at a certain demographic.Read More...
A strong background in business intelligence and reporting software is required for market analysts, along with an educational background in business, marketing, or a similar field. A market analyst must be able to develop strong relationships with clients and senior-level executives, and they must be able to effectively communicate findings' significance to clients.
Marketing Analyst Tasks
- Conduct marketing program, business, and trend analysis through the use of predictive statistics, customer profiling, and data analysis.
- Collaborate with internal departments to prepare and present findings to clients.
- Identify key opportunities for new initiatives, generate sales forecasts, and make appropriate recommendations.
- Develop metrics and strategies to test and enhance performance.
Common Career Paths for Marketing Analyst
As Marketing Analysts transition into upper-level roles such as Senior Marketing Manager, they may see a strong upturn in salary. Senior Marketing Managers earn $102K on average per year. It is quite typical for Marketing Analysts to transition into roles as Marketing Managers or Senior Marketing Analysts, where reported median earnings are $8K and $18K higher per year.
Marketing Analyst Job Listings
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Popular Employer Salaries for Marketing Analyst
The Bank of New York Mellon Corporation (BNY Mellon) leads the field in terms of pay, with a median salary of $84K.
Popular Skills for Marketing Analyst
Marketing Analysts report using a deep pool of skills on the job. Most notably, skills in SQL, Business Analysis, Strategic Marketing, and Project Management are correlated to pay that is above average, with boosts between 5 percent and 14 percent. Skills that are correlated to lower pay, on the other hand, include Social Media Marketing and Google Analytics. Most people skilled in Data Analysis are similarly competent in Market Analysis and Market Research.
Pay by Experience Level for Marketing Analyst
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Workers in their first five years can expect to earn $51K, but people who have been around for five to 10 years earn a noticeably bigger sum of $62K. Marketing Analysts who work for 10 to 20 years in their occupation tend to earn about $69K. Survey respondents who have worked for more than 20 years actually report somewhat lower incomes of $65K.
Pay Difference by Location
Marketing Analysts will find that Los Angeles offers an impressive pay rate, one which exceeds the national average by 19 percent. Marketing Analysts can also look forward to large paychecks in cities like San Francisco (+16 percent), Dallas (+12 percent), Houston (+11 percent), and Seattle (+10 percent). In Miami, salaries are 8 percent below the national average and represent the lowest-paying market.