To increase their earning potential, research professionals must expand their skills to include methodologies and analytical techniques for the digital world.
Austin, TX (PRWEB) March 29, 2012
The seventh Annual Survey of Market Research Professionals conducted by MarketResearchCareers among 500 market research professionals reveals that annual salaries increased by only 1.9% in the past 12 months -- with researchers losing purchasing power as the national Consumer Price Index increased by 2.9% during the same period. The 1.9% salary increase was well below the 3.2% increase expected by research professionals.
The current average salary by job title across all experience levels and geographic locations are:
- Project Director: $75,750
- Senior Project Director: $73,521
- Research Analyst: $59,540
- Senior Research Analyst: $78,141
- Research Manager/Director: $93,585
- Senior Research Manager/Director: $112,536
- Account Executive/Manager: $75,500
- Senior Account Executive/Manager: $86,704
- Statistician: $68,125
- Brand Manager: $80,937
- Assistant Vice President: $124,500
- Vice President: $122,201
- Senior Vice President: $144,708
- President/General Manager: $139,413
- Owner: $87,644
- Total (All Job Titles): $99,016
The report reveals that salaries are, on average, 4.0% higher among those working within corporate research departments compared to their colleagues working for market research suppliers. However, depending upon job title (such as Project Director and Research Manager), salaries could be as much as 35% higher within corporate research departments.
Further highlighting compensation pressures, raise expectations among market research professionals declined from 3.2% in 2011 to 2.6% in 2012 -- with more researchers not expecting a raise in 2012.
"To increase their earning potential, market research professionals will be required to expand their skill set to include methodologies and analytical techniques for the digital world -- including the capture and interpretation of social media and behavioral data," said Mike Carroll, Director of Sales and Marketing for MarketResearchCareers. "It will be increasingly challenging for researchers to get ahead without acquiring new skills and switching jobs to fully practice their new skills," said Carroll.
The 2012 Annual Survey of Market Research Professionals was conducted between January 12 and February 1, 2012 with 500 market research professionals completing the survey -- providing a data tolerance of +/- 4.4%.
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