Data analysts observe, record, research and model information to detect patterns, create explanations and make recommendations to other professionals such as managers. Because this type of analysis is used in the sciences, business and administration, full-time analyst salaries depend on the kinds of information that they study and on their employers.
Management analysts use data to improve an organization’s profits and efficiency. Only a few work as employees. Most are freelancers who work contractually and are called management consultants. A bachelor’s degree is the minimum education though some employers prefer those with a master’s degree in business administration. Management analysts earned a mean $42.30 per hour or $87,980 per year, according to the Bureau of Labor Statistics. The bottom 10 percent averaged $21.12 per hour or $43,920. And the top 10 percent received $68.16 per hour or $141,780 per year. Their highest paying employers were manufacturers of petroleum and coal products. Mean salaries here ran $55.44 per hour or $115,320 per year.
Market Research Analysts:
Market research analysts study local, regional or national market conditions so they can improve the sales of a product. They research consumer demographics, preferences, buying habits and desires through questionnaires, interviews, focus groups and surveys. A bachelor’s degree in math, computer science or statistics is typically needed, though top research positions require a master’s. Market research analysts made a mean $32.27 per hour or $67,130 per year. The low was $16.10 per hour or $33,490 per year, and the high was $54.12 per hour or $112,560 per year. Their top-paying employer was motor vehicle manufacturing with means at $47.75 per hour or $99,320 per year.
Financial analysts determine the best investments to sell or buy by evaluating economic data and business trends. On the sell side, they work for financial services sales agents. On the buy side, they work for institutional investors and wealthy individuals. Typical prerequisites include a bachelor’s degree in accounting, economics, finance or statistics, although a master’s degree may be needed for higher positions. Financial analysts received a mean $42.18 per hour or $87,740 per year. Their lowest salary averaged $22.26 per hour or $46,300 per year, and their highest salary ran $69.99 per hour or $145,580 per year. Advertising, public relations and related services were the best employers for pay at a mean $62.10 per hour or $129,160 per year.
Computer Systems Analysts:
Computer systems analysts study the needs of an organization so they can recommend hardware and software. They work with managers to develop efficient computer procedures by analyzing the costs and benefits of current and new technology. A bachelor’s degree in computer science is a common entry requirement. Computer system analysts made a mean $39.58 per hour or $82,230 per year, with a low of $23.74 per hour or $49,370 per year, and a high of $57.72 per hour or $120,060 per year. Their highest paying employer was animal slaughtering and processing with a means of $60.46 per hour or $125,750 per year.