What Makes Market Research Analyst the Most Demanded Job in the UK?

Market Research Analyst is a highly demanded job in the UK due to the crucial role they play in helping businesses understand their customers, their competition, and their market. This job requires a deep understanding of market trends and data analysis to provide insights to businesses. 

In this article, we will explore what makes Market Research analysts the most demanded job in the UK, their career paths, job description, salary, and in-demand skills. We will also discuss the benefits of being  a Market Research Analyst and the different types of Market Research Analyst jobs available in the UK.

How to Start a Career in Market Research Analysis?

To start a career in Market Research analysis,

  • Obtain relevant qualifications: A degree in a related field such as marketing, statistics, or business is typically required.
  • Gain marketing experience: gaining experience through internships or entry-level positions is beneficial. 
  • Apply for market research jobs: based on skills, apply for jobs through online job portals and other mediums.

Building a strong network and staying up-to-date with industry trends and technologies can also help advance your career in Market Research analysis.

To find the best Market Analyst jobs in the UK, it is important to network with professionals in the industry, attend industry events, and search for job openings on job boards and company websites. It is also important to tailor your resume and cover letter to highlight your skills and experience in Market Research analysis.

Market Research Analyst Job Description

Here are some of the key roles and responsibilities of Market Research Analysts in the UK:

  • Collecting and analyzing data from various sources, including surveys, focus groups, and secondary research.
  • Interpreting data to provide insights on consumer behaviour, market trends, and industry developments.
  • Developing research plans, including selecting research methods and determining sample sizes.
  • Creating and implementing surveys and questionnaires, ensuring that questions are clear and unbiased.
  • Conduct qualitative research, such as in-depth interviews and focus groups, to gain a deeper understanding of consumer attitudes and opinions.
  • Analysing quantitative data using statistical software and techniques.
  • Preparing reports and presentations to communicate research findings to clients or employers.
  • Providing strategic recommendations based on research findings to help clients or employers make informed business decisions.
  • Staying up-to-date with industry developments and trends, as well as advancements in research methodologies and tools.
  • Working collaboratively with other members of the research team and other departments, such as marketing and product development.

The specific roles and responsibilities may vary depending on the company, industry, and level of experience.

What are the Advantages of Being a Market Research Analyst?

Some benefits of being a Market Research Analyst 

  1. Good salary: The average market research analyst salary in the UK is £31,699 per year or £16.26 per hour, with experienced workers making up to £52,016 per year.
  2. Interesting work: As a market research analyst, you’ll work on various projects for a wide variety of clients with differing demands, making it an interesting and varied job.
  3. In demand: The demand for market research analysts is high as businesses rely on market research to make informed decisions about strategy and product development.
  4. Career growth: Market research analysts have the opportunity to move up the career ladder and take on more senior roles, such as research manager or director of insights.
  5. Opportunity to work in different sectors: Market research analysts can work in various sectors, such as healthcare, finance, and technology, giving them the opportunity to gain diverse experience.
  6. Analytical skills: Market research analysts need to analyse data and provide insights to clients, which develops their analytical skills and can be applied to other fields.
  7. Flexibility: Some market research analyst positions offer flexibility, such as remote work options or flexible working hours, providing a good work-life balance.

What are the In-Demand Skills for a Market Research Analyst?

To be successful as a Market Research Analyst, there are certain skills that are in high demand. These include

  1. Analytical skills
  2. Communication skills
  3. Problem-solving skills
  4. Attention to detail
  5. Technology skills

Average or Approximate Salary of a Market Research Analyst

According to various sources, the average or approximate salary of a Market Research Analyst in the United Kingdom is around £30,000 to £35,000 per year. For example, 

  1. Talent.com reports an average salary of £31,739 per year.
  2. Salary.com reports an average salary of £32,765 per year.
  3. Glassdoor reports an average salary of $47,461 per year.

SalaryExpert.com reports that the average market research analyst gross salary in London, United Kingdom is £70,880 per year, which is higher than the average salary in other parts of the UK. The salary range for this position in the UK can vary from £26,000 per year for entry-level positions to £52,000 per year for experienced workers.

Note: The salary range for this position can vary depending on factors such as location, years of experience, and industry.

What are the Most Common Job Titles in Market Research?

There are various types of Market Research Analyst jobs available in the UK, including

  1. Market Research Analyst
  2. Senior Market Research Analyst
  3. Market Research Manager
  4. Market Research Director
  5. Data Analyst
  6. Business Intelligence Analyst
  7. Research Associate
  8. Research Manager
  9. Research Director
  10. Quantitative Analyst
  11. Qualitative Researcher
  12. Consumer Insights Analyst
  13. Competitive Intelligence Analyst
  14. Market Analyst
  15. Research Consultant
  16. Customer Insights Analyst
  17. Brand Insights Analyst
  18. Research Project Manager
  19. Market Research Coordinator
  20. Marketing Research Specialist

If you want to be a market research analyst in the UK, we can help.

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In conclusion, Market Research Analyst is a highly demanded job in the UK due to the crucial role they play in helping businesses make informed decisions. The job offers a good salary, opportunities for growth, and a stable work environment. To succeed as a Market Research analyst, it is important to have strong analytical, communication, problem-solving, attention to detail, and technology skills. 

Frequently Asked Questions

What is a market research analyst?

A market research analyst is a professional who collects and analyses data from members of the public to help businesses make informed decisions about strategy and product development.

What skills are required to become a market research analyst?

A market research analyst needs to have strong analytical skills, be able to work with data and statistics, and have good communication skills to present findings to clients.

Why is a market research analyst a highly demanded job in the UK?

Market research analysts are in high demand in the UK because businesses increasingly rely on data-driven insights to inform their decision-making. Market research analysts are the experts at providing those insights.

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