Research analysts are the glue that holds the marketing department together. They're the ones who take the information gathered by researchers and turn it into something that can be used. With research analysts, marketers could get a way to make sense of it or use it to improve their campaigns.
Research analysts are also responsible for helping marketers understand what their customers want and need. The more research analysts do, the more they'll understand what makes their customers tick—and how to tailor their products and services accordingly.
What Do Research Analysts Do?
Research analysts are the people who research and compile information for the company that they work for. They gather data, analyze it and report their findings to their supervisors. They can work in various industries such as finance, retail, technology, or any other industry that requires data analysis.
Research analysts perform many different tasks depending on their role within an organization. Some research analysts may be involved in market research, where they collect data about customer preferences and attitudes toward products or services offered by a company.
Other research analysts may be responsible for gathering information about competitors so that it can be used when developing new products or services the company provides.
Research analysts may also conduct surveys among customers or employees if they want feedback about existing products or services offered by a company and potential new ones that could be provided in the future.
Research Analyst Salary According to Location and Experience
Research Analyst Salary in the US
Research analysts are very much in demand and make a lot of money. If you're interested in becoming research analyst, keep reading to learn more about how much research analysts can expect to earn.
The average salary of a research analyst is $69,011. Entry-level research analysts earn around $40,000 annually,
Mid-level research analysts earn around $60,000 annually, and senior-level research analysts earn about $80,000 annually.
Research Analyst Salary in India
Research Analyst Salary in India ranges between ₹ 1.8 Lakhs to ₹ 8.5 Lakhs with an average annual salary of ₹ 3.2 Lakhs. The median wage is ₹ 1.8 Lakhs per annum, and the most common salary is ₹ 5.8 Lakhs per annum.
The research analyst's job market has been increasing over the past five years, and this trend is expected to rise for the next seven years.
Research Analyst is a professional position that requires a bachelor's degree in business, economics, or a related field. The average starting salary for a Research Analyst with up to 5 years of experience working full-time is around ₹ 8.5 Lakhs, with an annual average wage of ₹ 3.2 Lakhs.
Research Analyst Salary in the UK
Research Analyst is one of the best bets if you're looking for a research analyst job in the UK. According to Payscale's salary report, the average salary is £29,875 a year, and entry-level analysts can earn as much as £27,000.
The growth potential is also high—experienced research analysts can earn between £30,000 and £48,000 annually in the UK.
Professional Certificate Program In Data Analytics
If you're looking to fast-track your career in the Data Analytics field, look no further than Simplilearn's Data Analytics certification program. Using Tableau and Power BI, students will learn how to analyze data using Python and R languages, interact with databases using SQL, and visualize data using Stats foundations and Python.
The Data Analytics certification program emphasizes master classes and business case studies through an applied learning approach. This course is ideal for all working professionals, regardless of their prior programming knowledge.
The master classes are led by leading practitioners in the industry, giving you access to the most up-to-date information on this ever-expanding field. You'll apply what you learn immediately in our live sessions, where you can ask questions directly from experts who have been working in the field for years!
You've got a lot of options when it comes to pursuing a career in data analytics. But there's one thing you can't do: go wrong with Simplilearn’s Professional Certificate Program In Data Analytics program.
This program is designed to help you boost your career by learning to use data analytics tools and techniques in real-world scenarios so that you can apply this knowledge to all kinds of jobs.
And the best part?
You'll be able to learn from some of the best professors at Purdue University and IBM—and get a certificate from them too!
1. Do research analysts get paid well?
To earn the most money as a Research Analyst, you should become an experienced one.
According to the research firm AmbitionBox, mid-career Research Analysts with 4-9 years of experience earn an average salary of ₹5.9 Lakhs per year, while experienced Research Analysts with 10-20 years of experience earn an average wage of ₹10.8 Lakhs per year.
2. What does a research analyst do?
A research analyst identifies and analyzes data, then uses that information to make recommendations. They're usually employed in research and development or marketing, but they can also be found in other industries.
3. Is a research analyst an excellent job?
Yes, being a research analyst is an excellent job.
A research analyst is a person who works in the business field of market research and analysis. They are responsible for collecting and analyzing data to provide information and insights to their clients. Research analysts may work at various companies, such as financial institutions, consulting firms, marketing agencies, and government agencies.
4. What qualifications do you need to be a research analyst?
To be a research analyst, you must have a bachelor's degree in economics, finance, or business administration. If you have an advanced degree in one of those areas, you will be advantaged when applying for jobs.
It would help if you also had experience working with data and building models. It can include work experience at a company or organization that collects and analyzes its data. You will also need to write well to explain your findings to clients and other stakeholders.
5. Do I need a degree to be a research analyst?
You can do without a degree to be a research analyst.
There is no formal requirement for becoming a research analyst, and many people have made careers in this field without formal education. However, we recommend getting at least some degree, like a proper certification.