Market Research Analysts Salary: What Recruiters Need to Know
Published on November 1st, 2023
As recruiters and hirers seeking the best talent for your organization, understanding the salary landscape is crucial. In this blog post, we'll explore the "Market Research Analysts Salary" to provide you with valuable insights for recruiting and hiring candidates in this dynamic field.
Market Research Analyst Salary Overview
In 2021, market research analysts earned a median salary of $63,920. This figure serves as a benchmark for the industry, representing the midpoint where half of the professionals earned more and half earned less.
- The top 25% of market research analysts made an impressive $97,600 in 2021.
- On the other end of the spectrum, the lowest 25% earned a starting salary of $48,400.
These figures offer a glimpse into the salary range for market research analysts, showcasing the potential for both entry-level and experienced professionals.
Salary Outlook for Market Research Analysts
To gain a deeper understanding of salary trends in this field, let's take a look at a visual representation of the data:
[Insert Salary Outlook Graph]
As you can see, market research analyst salaries have shown steady growth over the years, with a median salary of $63,920 in 2021. This consistent increase is a testament to the importance of this profession in today's business landscape.
Best-Paying Cities for Market Research Analysts
Location often plays a significant role in salary differences for market research analysts. Here are the top five best-paying cities for this profession in 2021:
- San Jose, California - $119,180
- San Francisco, California - $108,370
- Seattle, Washington - $99,510
- New York, New York - $91,580
- Boulder, Colorado - $89,020
Recruiters looking to attract top talent should consider these locations when offering competitive salary packages.
Best-Paying States for Market Research Analysts
States and districts also have a substantial impact on market research analyst salaries. In 2021, the following locations paid the highest mean salaries for this profession:
- Washington - $93,210
- Delaware - $92,840
- New York - $88,900
- New Jersey - $87,570
- District of Columbia - $87,390
These states offer excellent opportunities for market research analysts and should be on your radar when recruiting nationwide.
Comparing Market Research Analyst Salaries
It's essential to put market research analyst salaries in perspective. In 2021, the average salary for market research analysts was $76,080. To provide context, here's a comparison to other related professions:
- Marketing Managers made an average of $153,440.
- Actuaries earned an average salary of $125,300.
- Logisticians took home an average of $79,230.
- Cost Estimators had an average salary of $73,740.
Understanding where market research analyst salaries stand in relation to these professions can guide your compensation decisions during the hiring process.
In conclusion, "Market Research Analysts Salary" is a critical factor when recruiting top talent in this field. By staying informed about salary trends, you can attract and retain the best candidates, ensuring that your organization benefits from the valuable insights provided by market research analysts.
Thomas M. A.
A literature-lover by design and qualification, Thomas loves exploring different aspects of software and writing about the same.
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