People who love research, gathering and analyzing data, problem-solving, and being able to effectively explain their results are good candidates for research analyst jobs. Research analyst jobs can be found in a variety of industries, including business operations, marketing, management, finance, and government. Qualifications vary, but research analysts, in general, need excellent mathematics, communication, and critical-thinking abilities. They should also be adaptable, able to work both alone and as part of a team.
Market Research Analyst
Market research analysts analyze customer preferences and purchasing patterns using methods such as surveys and focus groups, as well as statistical analysis and data mining, to help businesses market their products and services more successfully. Future sales are also predicted by market analysts. A bachelor’s degree in marketing or a similar area is required to work as a market research specialist. The BLS predicts faster-than-average job growth in this sector, with the best chances going to experienced analysts with graduate degrees. According to the Bureau of Labor Statistics, market research analysts earned an average of $65,810 in 2020.
These analysts, sometimes known as management consultants, assist corporations and other customers in developing strategies, streamlining operations, and increasing profitability. Recent graduates of prestigious business schools can begin their careers as management consultants for renowned consulting companies. A bachelor’s or master’s degree, usually in business administration, management, or economics, is required to work as a business analyst. Excellent research, analysis, critical thinking, and communication abilities are required of management consultants. According to the Bureau of Labor Statistics, management consultants earned an average of $87,660 in 2020.
Operations Research Analyst
Operations research analysts specialize in crunching data to address issues for businesses in areas like labor and material efficiency. Analysts analyze large amounts of data using mathematical models and statistical methods, and then write reports on their findings. Operations research analysts may be found in almost any industry that gathers and analyzes significant quantities of data, including manufacturing, transportation, and government. A master’s degree in operations research, mathematics, economics, or a similar area is usually required to work as an operations researcher. However, according to the BLS, bachelor’s degree holders may be eligible for certain entry-level jobs. According to the Bureau of Labor Statistics, salaries for operations research analysts averaged $86,200 per year in 2020.
Public Policy Analyst
Public policy analysts are analytical types with a love for politics and public affairs. They provide research and analysis on public policy options in a variety of fields, including education and criminal justice, as well as national security and environmental preservation. Many experts speak before congressional committees and other legislative bodies on their results. Government agencies, nonprofit organizations, and policy research companies, often known as “think tanks,” are among the employers of public policy analysts. Government policy analysts analyze proposed new policies as well as current government initiatives. A bachelor’s degree in a social science area, such as political science, economics, or sociology, is required to work as a policy analyst. The Bureau of Labor Statistics does not collect salary statistics for policy analysts, although it does note that pay varies significantly depending on the company and the analyst’s expertise.
Financial analysts initiate and conduct company research, track stock performance, and make recommendations to investment advisers and investors on whether to buy or sell specific stocks. Many financial and equities research analysts specialize in certain stocks or industries, such as healthcare, biotechnology, and energy. Financial analysts work long hours, often nights and weekends, but are compensated well, with yearly performance bonuses common. As beginning research associates, equity research analysts earn $90,000 to $115,000 per year, including bonuses, according to the website Mergers and Inquisitions. According to the website, analysts typically earn around $300,000 per year in salary and bonuses.