Research Analyst Salary

Created by Henry Steele

By Henry Steele - January 8, 2018
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The following article discusses the career path of Research Analyst. Learn about how to become one, education requirements, job duties, traits and qualities, national salary outlook as well as top national employers of Research Analysts.

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Job Duties

Research analysts carefully loos at data, using this to produce reports for their employers. This means they can translate the meaning of data, check that the data is correct, and use this to validate theories and ideas. When they do not verify or examine information, they work with senior officers to showcase the lessons learned from the data and how the business can use this in future.

They can work in public and private sectors. Most financial businesses need research analysts in order to be successful. Depending on the field and company they work for, these professionals often focus on data on a number of different subjects. They also rarely work alone, instead working in a team with other analysts, validating each other’s findings.

Other job duties of a research analyst are:

  • To use different sources in order to analyze and research topics, essentially becoming an expert
  • To work with quantitative data, collecting and analyzing it
  • To provide written and spoken presentations on findings
  • To interview team members and clients in order to better understand their information needs and how those should be delivered

Where We Work

According to the U.S. Bureau of Labor Statistics, there were 595,400 market research analysts in 2016. The largest employers of these professionals were:

  • Management, scientific, and technical consulting services: 12%
  • Finance and insurance: 10%
  • Wholesale trade: 9%
  • Management of companies and enterprises: 8%
  • Publishing industries (except Internet): 3%

How to Become

A research analyst usually has at least a bachelor’s degree, most of the time in a major related to business or accounting. They also often complete additional education relevant to their particular industry or niche. They are also trained on giving presentations.

Education Requirements

A research analyst usually has to have a bachelor’s degree in a field related to market research as a minimum. Many have majored in communications, social sciences, business administration, computer science, math, or statistics. This shows the variation of work and knowledge related to this profession.

It is generally expected that a research analyst has completed courses in marketing, research methods, and statistics at least. Social sciences (consumer behavior and economics in particular) and communication courses are also important.

In some cases, a research analyst is expected to hold a master’s degree. There are a number of relevant graduate programs, including marketing research. However, most complete the master of business administration (MBA), with concentrations in marketing or statistics. These degrees are particularly important if someone wants to take on a leadership or management position.

Research analysts are not legally required to obtain certification, but it does make them more in demand because it shows they have professional competency. The PRC (Professional Researcher Certification) is offered by the Marketing Research Association, for instance. A research analyst must meet the necessary admission requirements for this, including additional education. The certification must be maintained through continuous education courses.

Traits & Qualities

The most effective research analysts have the following traits to some degree or other:

  • Strong analytical skills
  • Excellent communication skills, both oral and written
  • Great critical thinking skills
  • Detail oriented

Minimum Education

Bachelor’s Degree

National Salary

The national average salary estimate for Research Analyst was $65,125. This number is estimated from over 932,724 employees, users past and present job advertisements from Indeed.com. This equates to an hourly salary of $33.92 and monthly of $5,427.

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$14,000

$157,000

Salary Distribution

Salary by State

The following section lists Research Analyst salaries in each state around the country. The figures are based on the total number of job postings through Indeed.com. For example, Massachusetts had the largest quoted salary of $89,539 while Nebraska had the smallest quoted salary of $27,974.

AlaskaHawaiiMissouriPennsylvania
AlabamaIowaNorth CarolinaSouth Carolina
ArkansasIdahoNebraskaTennessee
ArizonaIllinoisNew HampshireTexas
CaliforniaIndianaNew JerseyUtah
ColoradoKansasNew MexicoVirginia
ConnecticutKentuckyNevadaWashington
DCMassachusettsNew YorkWisconsin
DelawareMarylandOhio
FloridaMichiganOklahoma
GeorgiaMinnesotaOregon
Alaska – $58,656Rank: 21st
The average salary ranks 21st among states in the country. There were also job openings from employers like Workplace Alaska.

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$1,800

$9,400

Salary Distribution
Alabama – $65,614Rank: 12th
The average salary ranks 12th among states in the country. There were also job openings from employers like Federal Government Jobs, United States Department Of Defense, U.S. Air Force, and U.S. Army.

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$14,000

$156,000

Salary Distribution
Arkansas – $44,351Rank: 34th
The average salary ranks 34th among states in the country. There were also job openings from employers like Arkansas Department of Health, Arkansas Department Of Human Services, and Utah Department Of Workforce Services.

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$14,000

$93,000

Salary Distribution
Arizona – $55,231Rank: 26th
The average salary ranks 26th among states in the country. There were also job openings from employers like Department of the Interior, United States Department Of Defense, University of Arizona, and Maricopa County.

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$16,000

$117,000

Salary Distribution
California – $67,819Rank: 9th
The average salary ranks 9th among states in the country. There were also job openings from employers like TIGER ANALYTICS LLC, Apple, San Mateo County Community College District, and Volt.

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  • Most Reported
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$16,000

$155,000

Salary Distribution
Colorado – $63,339Rank: 14th
The average salary ranks 14th among states in the country. There were also job openings from employers like U.S. Air Force, Denver Public Schools, University of Colorado, and Metropolitan State University of Denver.

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$16,000

$142,000

Salary Distribution
Connecticut – $78,520Rank: 5th
The average salary ranks 5th among states in the country. There were also job openings from employers like United States Department Of Defense, State of Connecticut, WHOLESALE CLUB LLC, and Yvonne Loubiere LLC.

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$20,000

$176,000

Salary Distribution
DC – $80,953Rank: 2nd
The average salary ranks 2nd among states in the country. There were also job openings from employers like U.S. Securities and Exchange Commission, Customs and Border Protection, Department of Labor, and Department of Education.

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$21,000

$178,000

Salary Distribution
Delaware – $69,052Rank: 8th
The average salary ranks 8th among states in the country. There were also job openings from employers like HealthCore, Inc..

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$25,000

$134,000

Salary Distribution
Florida – $52,598Rank: 28th
The average salary ranks 28th among states in the country. There were also job openings from employers like The Royak Group Inc., U.S. Air Force, Innovative Scheduling, LLC, and Ad-VANCE Talent Solutions, Inc..

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$14,000

$116,000

Salary Distribution
Georgia – $59,167Rank: 20th
The average salary ranks 20th among states in the country. There were also job openings from employers like Principle Solutions Group, U.S. Air Force, Aptonet, Inc., and The Creative Group.

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$16,000

$128,000

Salary Distribution
Hawaii – $79,535Rank: 3rd
The average salary ranks 3rd among states in the country. There were also job openings from employers like State of Hawaii.

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$27,000

$160,000

Salary Distribution
Iowa – $33,465Rank: 39th
The average salary ranks 39th among states in the country. There were also job openings from employers like Wells Fargo, DISYS, Aerotek, and Randstad.

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$8.80

$26.45

Salary Distribution
Idaho – $41,529Rank: 36th
The average salary ranks 36th among states in the country. There were also job openings from employers like IDAHO DEPT. OF LABOR.

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$9.80

$37.95

Salary Distribution
Illinois – $73,780Rank: 6th
The average salary ranks 6th among states in the country. There were also job openings from employers like U.S. Army, The laSalle Network, DRW Trading Group, and William Rainey Harper College.

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$14,000

$182,000

Salary Distribution
Indiana – $48,509Rank: 33rd
The average salary ranks 33rd among states in the country. There were also job openings from employers like Pyramid Consulting Group, IUPUI – Indianapolis, University of Notre Dame, and Indiana Univ. Purdue Univ. Indianapolis.

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$16,000

$98,000

Salary Distribution
Kansas – $56,347Rank: 23rd
The average salary ranks 23rd among states in the country. There were also job openings from employers like U.S. Army, Kansas Department of Corrections, and University of Kansas.

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  • Most Reported
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$16,000

$120,000

Salary Distribution
Kentucky – $38,841Rank: 38th
The average salary ranks 38th among states in the country. There were also job openings from employers like U.S. Army, Federal Government Jobs, Talis Group, and University of Kentucky.

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  • Most Reported
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$8.40

$37.00

Salary Distribution
Massachusetts – $89,539Rank: 1st
The average salary ranks 1st among states in the country. There were also job openings from employers like 4Sight Technologies, Inc., Robert Half Finance & Accounting, Department of Transportation, and HealthCore, Inc..

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$18,000

$215,000

Salary Distribution
Maryland – $67,196Rank: 10th
The average salary ranks 10th among states in the country. There were also job openings from employers like United States Department Of Defense, Department of Health and Human Services, Centers for Medicare & Medicaid Services, and U.S. Department of State.

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$17,000

$150,000

Salary Distribution
Michigan – $56,495Rank: 22nd
The average salary ranks 22nd among states in the country. There were also job openings from employers like Federal Government Jobs, LLamasoft, Inc., Arbor Research Collaborative for Health, and The University of Michigan.

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$18,000

$114,000

Salary Distribution
Minnesota – $42,508Rank: 35th
The average salary ranks 35th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, Saint Paul Public Schools, Wells Fargo, and V-Soft Consulting Group.

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$9.75

$39.35

Salary Distribution
Missouri – $50,652Rank: 30th
The average salary ranks 30th among states in the country. There were also job openings from employers like United States Department Of Defense, Monsanto, The Federal Reserve Bank of St. Louis, and Washington University in St. Louis.

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$14,000

$108,000

Salary Distribution
North Carolina – $50,421Rank: 31st
The average salary ranks 31st among states in the country. There were also job openings from employers like Bank Of America, Amundi Smith Breeden LLC, The Creative Group, and Robert Half The Creative Group.

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$14,000

$109,000

Salary Distribution
Nebraska – $27,974Rank: 41st
The average salary ranks 41st among states in the country. There were also job openings from employers like University of Nebraska, State of Nebraska, and American Title Inc.

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$7.25

$25.90

Salary Distribution
New Hampshire – $55,288Rank: 25th
The average salary ranks 25th among states in the country. There were also job openings from employers like Dartmouth College.

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$14,000

$133,000

Salary Distribution
New Jersey – $63,027Rank: 15th
The average salary ranks 15th among states in the country. There were also job openings from employers like Compest Solutions Inc, The New Jersey Judiciary, Rutgers University, and Data-Pro.

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$14,000

$172,000

Salary Distribution
New Mexico – $59,807Rank: 18th
The average salary ranks 18th among states in the country. There were also job openings from employers like U.S. Army, U.S. Air Force, New Mexico State Personnel Office, and University of New Mexico.

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$16,000

$131,000

Salary Distribution
Nevada – $61,917Rank: 16th
The average salary ranks 16th among states in the country. There were also job openings from employers like Zappos Family of Companies and Allegiant Travel Company.

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$21,000

$122,000

Salary Distribution
New York – $69,784Rank: 7th
The average salary ranks 7th among states in the country. There were also job openings from employers like Two Sigma, CUBIST SYSTEMATIC STRATEGIES, LLC, UBS, and Coda Search.

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$14,000

$174,000

Salary Distribution
Ohio – $51,857Rank: 29th
The average salary ranks 29th among states in the country. There were also job openings from employers like U.S. Air Force, United States Department Of Defense, Progressive, and Ohio State University.

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$14,000

$128,000

Salary Distribution
Oklahoma – $59,195Rank: 19th
The average salary ranks 19th among states in the country. There were also job openings from employers like U.S. Air Force, U.S. Army, POWER COSTS, INC., and Zoning-Info, Inc..

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$16,000

$130,000

Salary Distribution
Oregon – $66,401Rank: 11th
The average salary ranks 11th among states in the country. There were also job openings from employers like Bonneville Power Administration, Department of Energy, Multnomah County, OR, and Rentrak Corporation.

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$20,000

$138,000

Salary Distribution
Pennsylvania – $56,233Rank: 24th
The average salary ranks 24th among states in the country. There were also job openings from employers like Federal Government Jobs, U.S. Navy, Independence Blue Cross, and COMMUNITY BEHAVIORAL HEALTH.

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$16,000

$119,000

Salary Distribution
South Carolina – $39,107Rank: 37th
The average salary ranks 37th among states in the country. There were also job openings from employers like Wells Fargo, Laudisi Enterprises, and Medical University of South Carolina.

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$14,000

$84,000

Salary Distribution
Tennessee – $54,881Rank: 27th
The average salary ranks 27th among states in the country. There were also job openings from employers like Eastman Chemical, Federal Government Jobs, Blue Cross Blue Shield, and JDResources.com.

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$14,000

$129,000

Salary Distribution
Texas – $60,393Rank: 17th
The average salary ranks 17th among states in the country. There were also job openings from employers like Capital One, Reddwerks Corporation, The Forum Group, and U.S. Air Force.

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$15,000

$134,000

Salary Distribution
Utah – $30,470Rank: 40th
The average salary ranks 40th among states in the country. There were also job openings from employers like U.S. Air Force, Utah Valley University, University of Utah, and DealerSocket.

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$7.25

$29.00

Salary Distribution
Virginia – $79,413Rank: 4th
The average salary ranks 4th among states in the country. There were also job openings from employers like Capital One, U.S. Army, National Geospatial-Intelligence Agency, and Piper Companies.

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$19,000

$181,000

Salary Distribution
Washington – $64,530Rank: 13th
The average salary ranks 13th among states in the country. There were also job openings from employers like State of Washington, Washington State Government, Washington State Patrol, and Employment Security Department.

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$16,000

$143,000

Salary Distribution
Wisconsin – $48,574Rank: 32nd
The average salary ranks 32nd among states in the country. There were also job openings from employers like University of Wisconsin–Madison, Wells Fargo, and Education Analytics.

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$18,000

$92,000

Salary Distribution

Top 20 National Employers

According to Indeed.com, the following states had employers looking to hire a Research Analyst. The quoted salary figure represents the average salary from all job postings by this employer.

Employer NameLocationAverage Salary
The ONeil Search GroupNew Jersey$204,902
Two SigmaNew York$157,641
CUBIST SYSTEMATIC STRATEGIES, LLCNew York$157,231
Huxley AssociatesMassachusetts$153,022
U.S. Securities and Exchange CommissionDC$152,612
UBSNew York$145,856
Piper CompaniesVirginia$144,230
Federal Government JobsConnecticut$142,463
Matthews International Capital Management, LLCCalifornia$139,870
Coda SearchNew York$133,445
EverPoint Asset Management, LLCNew York$132,655
MPG Operations LLCNew York$130,798
First Eagle Investment Management, LLCNew York$130,415
Selby JenningsConnecticut$129,060
AllianceBernstein L.P.New York$128,481
Bank of America Merrill LynchNew York$127,933
BarclaysNew York$124,571
Lord, Abbett & Co. LLCNew Jersey$123,047
PanAgora Asset Management, Inc.Massachusetts$122,573
Department of TransportationNew Jersey$120,844

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Henry Steele
Managing Editor
Henry is Managing Editor of BusinessStudent.com. He is a seasoned business professional who regularly consults with local business's throughout Southern California. Henry pursued his undergrad in Business and Economics at the University of San Diego and gained valuable life changing experience through a unique internship upon graduation.

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