Education and Training: Bachelor’s degree, master’s degree, or doctoral degree
Average Salary: $61,070 per year
Job Outlook: Faster than average
A marketing analyst investigates what people want, how they think, and what they will or currently buy. Marketing analysts gather data, compile the results of that data, and then use that information to predict the future i.e. how successful a project or product will be.
Typical methods to gather data include the Internet, focus group discussions, telephone surveys, mail surveys, or shopping mall surveys. Marketing analysts work in a variety of industries such as government, academia, and Fortune 500 companies. Marketing analysts are the reason we have seen many improvements to consumer goods, professional services, and life in general.
Education and Training Requirements
High school courses in business, marketing, consumer behavior, economics, psychology, and sociology are recommended. A bachelor’s degree is the minimum requirement for most market analysts. A master’s or doctoral degree is required for positions that are more technical in nature.
Certification is offered via the Marketing Research Association. The Professional Researcher Certification is offered at the practitioner and expert level. The comprehensive exam covers research areas such as questionnaire design and report writing, legal areas such as ethics and privacy, and business areas such as marketing and human resources. Continuing education is required to maintain certification every two years.
The American Marketing Association offers certification as a Professional Certified Marketer. The test covers the following areas: legal, ethical, and professional issues in marketing, relationship, information and resource management, assessment and planning of the strategic marketing process, use of the marketing mix, and marketing evaluation. Continuing education is required to maintain certification every three years.
Getting the Job
A bachelor’s degree is the minimum requirement for employment as a marketing analyst. Apprenticeships for recent graduates and internships for college students are available for those new to the marketing field and can lead to full time employment.
In the apprenticeship or internship role, the job an employee may work in depends on the company. Some of the jobs an apprentice or an intern may do are personal assistant, marketing assistant, media researcher, or market research executive. Internships and apprenticeships can range from one semester to one year.
Job Prospects, Employment Outlook and Career Development
Competition is fierce for marketing analyst positions. Those who have the most education, a masters or doctoral degree, and strongest technical background have the best chance of obtaining marketing analyst positions, especially positions that are technical.
It is best to have a strong foundation in mathematics, statistics, computer science, and survey design so that you have the better edge in obtaining the best jobs. Marketing analysts who possess bachelor’s degrees in less technical disciplines will have the best opportunity with lower level positions.
Working Conditions and Environment
The marketing analyst works full time and can also work on a consulting basis. They may work alone or as part of a group. People skills are crucial since some of the work requires working with the public. Stress from deadlines, overtime, or short timelines does occur. In addition, some travel may be required.
Salary and Benefits
According to the 2008 Occupational Employment Statistics (OES) survey, the median salary for marketing analysts was $61,070. The highest 10 percent earned more than $112,410, the lowest 10 percent earned less than $33,770, and the middle 50 percent earned between $43,990 and $85,510.
Where to Go for More Information
American Marketing Association
311 S Wacker Dr., Ste. 5800
Chicago, IL 60606
Phone: (800) AMA-1150
Fax: (312) 542-9001
Marketing Research Association
110 National Dr., 2nd Fl.
Glastonbury, CT 06033
Phone: (860) 682-1000
Fax: (888) 512-1050
Northwestern University (Kellogg)
2001 Sheridan Rd.
Evanston, IL 60208
Phone: (847) 491-3308
Fax: (847) 491-4960
University of Pennsylvania (Wharton)
420 Jon M. Huntsman Hall
3730 Walnut St.
Philadelphia, PA 19104
Phone: (215) 898-6183
Fax: (215) 898-0120