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
For Marketing Analysts, progressing to a Senior Marketing Manager role may result in a significant raise. On average, a Senior Marketing Manager can earn $102K annually. Career advancement for the typical Marketing Analyst often leads to becoming a Marketing Manager or a Senior Marketing Analyst; median salaries in these positions are $8K higher and $18K higher, respectively.
Marketing Analyst Job Listings
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Popular Employer Salaries for Marketing Analyst
Marketing Analysts flock to The Bank of New York Mellon Corporation (BNY Mellon) for generous paychecks, where average earnings of $84K lead the pack in compensation.
Popular Skills for Marketing Analyst
Survey respondents exploit a significant toolbox of skills in their work. Most notably, skills in SQL, Business Analysis, Project Management, and Strategic Marketing are correlated to pay that is above average, with boosts between 5 percent and 13 percent. Skills that pay less than market rate include Google Analytics and Social Media Marketing. Most people experienced in Data Analysis also know 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.
Those in the early stages of their career can expect to make around $51K; however, individuals with five to 10 years of experience bring in $62K on average — a distinctly larger sum. Marketing Analysts with one to two decades of relevant experience report an average salary of approximately $66K. For some reason, Marketing Analysts with more than two decades of experience report lower paychecks overall; the median sum in this group sits near $64K.
Pay Difference by Location
For Marketing Analysts, Los Angeles provides a pay rate that is 19 percent greater than the national average. Marketing Analysts will also find cushy salaries in San Francisco (+18 percent), Dallas (+12 percent), Seattle (+12 percent), and Minneapolis (+9 percent). Trailing the national average by 10 percent, Miami is the market with the smallest paychecks.
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