Market researcher
Market researchers collect and analyse data and information to help their clients make informed political, social and economic decisions
As a market researcher, you'll specialise in collecting, analysing and presenting either quantitative or qualitative research.
Most market researchers are employed by marketing agencies, where work is carried out on numerous projects for different companies and industries.
Sometimes market researchers are employed directly by a company (known as client-side), where they collect information on customer opinions, investment and marketing trends.
Types of market research
You'll specialise in either:
- Quantitative research - which involves working with statistics and percentages and can deliver quick results.
- Qualitative research - where you'll analyse opinions and can provide the reasons behind certain percentages. This is a longer process and can sometimes take years to complete.
Responsibilities
There can be some variation in responsibilities depending on whether you work for an agency or client-side, however, you’ll generally need to:
- meet and liaise with clients to negotiate and agree research projects
- prepare briefs and commission research
- formulate plans or proposals to present to your client or senior management
- write and manage the distribution of surveys and questionnaires
- brief interviewers and researchers
- liaise with and manage survey staff
- moderate focus groups
- undertake ethnographic research (observing people in their homes and other environments)
- conduct qualitative or quantitative surveys, which may involve field, interview or focus group assessments
- use statistical software to manage and organise information
- monitor the progress of research projects
- analyse and interpret data to identify patterns and solutions, including surveys and focus group transcripts
- write detailed reports and present results
- advise clients or senior management on how to best use research findings
- manage budgets.
Salary
- Starting salaries for market researchers are in the region of £20,000 to £25,000. With experience this can rise to £25,000 to £35,000.
- At a senior level, once you've gained significant experience, you can expect to earn between £40,000 and £70,000+.
These figures do not include earnings that can be achieved from freelance work or self-employment.
Some larger firms may offer additional benefits, such as a company car, profit-sharing scheme, medical insurance, gym membership and bonuses.
Paid overtime is rare, but some organisations will offer time off in lieu.
Salary figures are intended as a guide only.
Working hours
Working hours for in-house and quantitative researchers are generally 9am to 5pm, with occasional evening or weekend work required to meet project deadlines. It's common for qualitative researchers to have to work evenings and weekends so that they have a better chance of contact with their respondents.
Career breaks and secondments may be possible if you're working for larger organisations, particularly if your role is client-side.
What to expect
- You may be desk-based but some market researchers do travel nationally and occasionally internationally to visit client organisations and to complete their research.
- Self-employment or freelance work is sometimes possible with significant experience. For self-employment, this usually means having acquired around ten years' experience and a good network of contacts.
- Short-term contracts are available via recruitment agencies, although these are generally for more senior market research posts.
- Most opportunities with market research firms are in London and the South East of England but client-side posts are generally available nationwide.
- This can be a fast-paced, high-pressure role due to the tight deadlines, but it's also challenging, varied and rewarding.
- Competition for jobs is strong. Speculative approaches can be more successful than relying on advertised vacancies. Consider applying for market research assistant posts first.
Qualifications
Most employers expect candidates to have a degree and look for skills in communication and analysis. If you want to get into quantitative research, the following subjects are useful:
- business or management
- economics
- mathematics
- statistics.
For qualitative research it is helpful to have a degree in a subject such as:
- anthropology
- geography
- psychology
- social sciences
- sociology.
Degrees in marketing, English and languages are also useful but a variety of degrees are often accepted by employers.
For specialist industrial market research posts, a degree in a specific subject linked to the industry, such as engineering or science, may be useful. For some posts, an understanding and knowledge of specialist statistical software may give candidates an edge.
A postgraduate qualification is not usually needed, although for some types of roles a Masters or diploma in a statistics-related subject may improve your chances of finding employment, particularly if your first degree isn't statistical.
Skills
You'll need to show:
- interpersonal skills, with strong written and oral communication skills
- good analytical and numerical skills
- accuracy and attention to detail
- the ability to use initiative
- excellent organisational skills
- business awareness
- creativity and problem-solving skills
- teamwork and negotiation skills
- flexibility and drive
- IT literacy
- an interest in psychology and behaviour.
Work experience
Pre-entry experience in areas such as research, statistical data analysis and interview techniques will be helpful.
You can get relevant work experience through work placements, shadowing or volunteering and a range of market research agencies offer structured placement opportunities.
For details see Market Research Society (MRS) - Work Placement and Intern Opportunities.
Find out more about the different kinds of work experience and internships that are available.
Employers
Most positions are in market research agencies or consultancies. These specialist agencies manage and oversee research projects commissioned by a range of organisations, including businesses, advertising and PR agencies, local and central government and charities.
Many of the marketing research agencies are located in and around London and in the South East of England. Agencies range in size from two to several hundred employees, offering specialist or general consultancy.
Opportunities also exist client-side, where market researchers work within industrial and commercial organisations, such as manufacturing, pharmaceutical and retail companies, as well as in advertising agencies and charities. Roles in these settings may involve coordinating and contracting out the research on behalf of the company or assisting in the development of marketing strategies.
Research institutions and government departments also employ market researchers. For more information on working for local authorities or government departments, see government social research officer.
You can get details of market research agencies and consultants, as well as background information on the different sectors from:
Look for job vacancies at:
Some recruitment agencies specialise in market research vacancies, such as Hasson Associates and Pollen Recruitment. Vacancies for graduates may be advertised as research assistants or as graduate trainees.
Professional development
Once in post, most training is provided informally, on the job, with support from more experienced colleagues. Some larger agencies run graduate training schemes, which typically last two years. There are also a variety of external courses available, specifically designed for market research professionals.
The MRS runs training courses and offers qualifications at different levels. While you're in the first two years of your market research career you can take the MRS Advanced Certificate in Market and Social Research Practice. Some large companies may incorporate this qualification into their graduate training programmes.
For more experienced market researchers who are progressing to senior roles, there is the MRS Diploma in Market and Social Research Practice. To take this you need to have between one to three years' experience in a relevant role depending on whether you already hold the MRS Advanced Certificate or another professional qualification or degree. The MRS also offers accredited Masters degrees at Cranfield School of Management and Newcastle University Business School.
Many of the qualifications offered by the Chartered Institute of Marketing (CIM) include a market research component. There is also a range of relevant postgraduate courses available in statistics, marketing or social research.
The Social Research Associationa (SRA) runs a range of courses on topics such as survey design and quantitative data analysis.
Continuing professional development (CPD) is important and can be carried out in many ways. The MRS offers training courses covering a range of topics, as well as webinars and online training in questionnaire design and business skills. It offers a range of events and networking opportunities, some specifically designed for new and young researchers through the MRS & more - young researchers network.
Career prospects
Generally, career progression in market research can be relatively rapid, with many market researchers being given the opportunity to advance to a more senior post within two or three years of entry. Promotion is usually based on merit, professional qualifications gained, experience and specialism.
You'll often progress to research executive, before moving onto senior researcher and finally advancing to the role of account director.
Responsibility for client contact, presentations, and project and team management increases with seniority, often with a corresponding decrease in the level of field work undertaken.
It's recommended that you gain a range of experience before specialising, to enhance your career development and/or job mobility later in your career.
The rapid growth of international business and developments in information technology has created worldwide opportunities in this field. With a good level of experience in your specialist area, you can progress to working as a research practitioner, either independently or in a partnership.
You may also want to consider setting up your own consultancy or working as a freelance, but this will only be possible once you've built up substantial experience and have a good contacts list.