Market Analysts are the professionals who use their professional skills for analyzing and interpreting data to make recommendations on the research findings. The average salary of a Market Analyst in India is around INR 4,34,000 which increases with experience and expertise in the field.
The average annual salary of a Market Analyst varies depending upon the various parameters such as experience, company, qualifications and many others. Candidates who hold professional degrees such as BBA, MBA, MCom, etc are usually paid higher than those holding Diploma or Certifications.
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A digital marketing Analyst earns around INR 8,00,000 per annum as starting salary. Apart from this, stock Market Analyst salary in India is also increasingly popular, they generally earn around INR 7,00,000 per annum as their starting salary. The highest salary of a Market Analyst in India is around INR 14,00,000 per annum.
Table of Contents
Who is a Market Analyst?
A market analyst is that individual who studies market conditions. They need to assess the potential sales of services and products by studying market conditions. They need to analyze qualitative data, strategies, trends, and competition focusing on increasing competitiveness. The role of a Market Analyst is not just limited to research and do component analysis but also they have to communicate around presenting their statistical findings as well as strategic thinking behind the present solution.
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Qualifications to Become a Market Analyst
An individual wishing to become a Market Analyst must have completed the courses to gain essential knowledge and have experience in the field. To pursue the courses to become a Data Analyst one must fulfill the eligibility requirements and they may be also required to qualify entrance exams conducted at National or state level. Apart from these mentioned above qualifications some of the other requirements to become a successful Market Analyst are given below:
- Individuals should have more than 5+ years of experience in marketing or similar fields.
- Individuals must possess the ability and skills such as search engines, business research tools, acumen, and web analytics.
- Aspirants must have a good knowledge and understanding about databases, statistical packages (SPSS or SAS), and MS office.
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Courses to become a Market Analyst
To become a Market Analyst most of the aspirants prefer to pursue online courses instead of regular full-time courses. Some of the popular online courses to become a Market Analyst are given below:
| Course Name | Course Provider | Average Fees |
|---|---|---|
| Certificate Courses | Udemy | INR 5,000 to INR 15,000 |
| Diploma Courses | Udemy or Coursera | INR 400 to INR 1,000 |
| Undergraduate Courses | Udemy | INR 3,000 to INR 4,500 |
| Postgraduate Courses | Udemy | INR 4,000 to INR 5,000 |
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Salary of a Market Analyst in India
Market Analysts in India average earning is higher than many other professions. The salary of a Market Analyst in India generally varies depending upon the qualifications and seniority of an individual. A digital Marketing Analyst earns around INR 8,00,000 per annum as starting salary. The highest salary of a Market Analyst in India is around INR 14,00,000 per year which depends upon the expertise and experience of a Market Analyst.
Qualification Wise Salary
The salary of a Marketing Analyst in India also varies depending upon the qualifications of an Individual. Aspirants having a certificate course in marketing analyst will receive less salary than a diploma course holder in marketing analyst course. However, a postgraduate aspirant having specialized in marketing analyst courses may earn a high salary compared to other degree holders.
The average annual salary of a Market Analyst depending upon the level of their qualifications are given below in the table chart:
| Qualifications Level | Average Annual Salary |
|---|---|
| Certificate Degree | INR 2,00,000 to INR 3,20,000 |
| Diploma Degree | INR 3,00,000 to INR 4,50,000 |
| Undergraduate Degree | INR 4,20,000 to INR 5,10,000 |
| Postgraduate Degree | INR 4,80,000 to INR 5,50,000 |
Company Wise Salary
Every company offers a different salary to a Market Analyst. Tabulated below is the average salary offered to a Market Analyst by different companies.
| Name of the Companies | Average Annual Salary |
|---|---|
| Growthtrack | INR 3,20,000 to INR 3,40,000 |
| Vinayak Solutions Pvt Ltd | INR 3,50,000 to INR 3,90,000 |
| Soundrise Hearing Solutions Pvt Ltd | INR 2,50,000 to INR 4,10,000 |
| Accenture | INR 4,50,000 to INR 6,20,000 |
| IBM India | INR 5,00,000 to INR 7,20,000 |
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Experience Wise Salary
Experience plays an important role to determine the salary of a Market Analyst. The experience Wise salary of a Market Analyst is given below:
| Years of Experience | Average Annual Salary |
|---|---|
| 0-2 years | INR 3,00,000 to INR 3,40,000 |
| 2-5 years | INR 4,00,000 to INR 4,80,000 |
| 5-10 years | INR 5,50,000 to INR 8,80,000 |
| 10-15 years | INR 7,20,000 to INR 9,50,000 |
| 15 years & above | INR 9,60,000 to INR 11,50,000 |
Skills Required to Become a Market Analyst
To become a successful Market Analyst, aspirants need to possess certain skills. Market Analysts have software knowledge such as SPSS or Excel. Apart from this, one should identify patterns in data to make informed decisions. The analytical skills of a Market Analyst also must be strong.
Some of the essential skills one must possess who wish to become a market analyst are the following:
| Data Mining | Programming Skills |
| Survey/query software | SQL databases |
| Critical Thinking Skills | Detail-oriented |
| Strong written and oral communication | Experts in mathematics, marketing, and statistics |
| Statistical Analysis Software | - |
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How to Get Hired as a Market Analyst in 2023
Some important tips and tricks to get hired as a Market Analyst in 2023 are listed below for your reference:
Tip 1: Focus on fundamentals in the financial analysis interview.
Tip 2: Always consider cross-team communication
Tip 3: Try to evaluate business knowledge
Tip 4: Develop your critical thinking skills
Tip 5: Assess accounting and quantitative basics.
Salary of a Market Analyst: FAQs
Ques. What is the total duration of the certificate in the market analyst course?
Ans. Certificates in Market Analyst courses differ from four weeks to six months.
Ques. Is it the best-specialized course in Management?
Ans. Yes, it is one of the best and demanding specialized courses in Management.
Ques. What does a market analyst do?
Ans. Market Analysts help the business make informed decisions regarding the market.
Ques. What is the average salary of a mid-level market analyst?
Ans. The average salary of a mid-level market analyst starts from INR 5,50,000 to INR 8,80,000 per annum.
Ques. What is the minimum percentage required to pursue a Digital Marketing Analyst Salary in India?
Ans. An aggregate 50% of marks in 10+2 is required for pursuing a Digital Marketing Analyst Salary in India
Ques. Is online learning available for this course?
Ans. Yes, online learning is available for this course.
Ques. Can a science graduate pursue this course?
Ans. Yes, a science graduate can pursue this course.
Ques. Is good communication skill necessary to become a market analyst?
Ans. Yes, good communication skills are necessary to become a market analyst.
Ques. What are the main entrance exams to pursue a diploma in market analyst course?
Ans. The main entrance exams to pursue a diploma in market analyst course are CAT, SET and MAT etc.
Ques. Is pursuing a diploma in a market analyst course costly?
Ans. No, this course is not so costly and aspirants can apply for educational loans from any bank to pursue this course.
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