Research Analyst Salary in 2023

Salary details

The average Research Analyst salary lies between USD 58,200 and USD 125,000 globally. It represents the overall compensation/gross salary amount for the working year (before deductions like social security, taxes and other contributions), not including equity/stock options or similar benefits.

All data shown are full-time equivalent (FTE) salaries. Part-time salary information has been extrapolated to its FTE value.

Last updated: Nov. 24, 2024

Salary trend

Top 20 Job Tags for Research Analyst roles

The three most common job tag items assiciated with Research Analyst job listings are Research, Python and Excel. Below you find a list of the 20 most occuring job tags in 2023 and the number of open jobs that where associated with them during that period:

Research | 186 jobs Python | 130 jobs Excel | 95 jobs SQL | 82 jobs Economics | 70 jobs Statistics | 67 jobs Engineering | 62 jobs Data analysis | 62 jobs R | 61 jobs Consulting | 53 jobs Privacy | 51 jobs Market research | 45 jobs Finance | 41 jobs Machine Learning | 35 jobs Power BI | 29 jobs Security | 27 jobs Tableau | 23 jobs Data visualization | 23 jobs Mathematics | 23 jobs Testing | 19 jobs

Top 20 Job Perks/Benefits for Research Analyst roles

The three most common job benefits and perks assiciated with Research Analyst job listings are Career development, Flex hours and Team events. Below you find a list of the 20 most occuring job perks or benefits in 2023 and the number of open jobs that where offering them during that period:

Career development | 95 jobs Flex hours | 72 jobs Team events | 54 jobs Health care | 51 jobs Startup environment | 47 jobs Equity / stock options | 38 jobs Competitive pay | 38 jobs Insurance | 33 jobs Salary bonus | 32 jobs 401(k) matching | 30 jobs Medical leave | 27 jobs Flex vacation | 26 jobs Wellness | 24 jobs Parental leave | 17 jobs Conferences | 15 jobs Fitness / gym | 8 jobs Home office stipend | 6 jobs Paid sabbatical | 5 jobs Fertility benefits | 4 jobs Lunch / meals | 3 jobs

Salary Composition

The salary for a Research Analyst in AI/ML/Data Science typically consists of a base salary, performance bonuses, and additional remuneration such as stock options or benefits. The composition can vary significantly based on several factors:

• Region: In tech hubs like Silicon Valley or New York, the base salary might be higher due to the cost of living and demand for talent. In contrast, regions with a lower cost of living might offer a smaller base salary but could compensate with other benefits.

• Industry: Industries such as finance or healthcare may offer higher bonuses due to the critical nature of data-driven insights in these fields. Tech companies might provide stock options as part of the compensation package.

• Company Size: Larger companies often have more structured compensation packages, including comprehensive benefits and bonuses. Startups might offer lower base salaries but compensate with equity or performance-based bonuses.

Increasing Salary

To increase your salary from a Research Analyst position, consider the following steps:

• Skill Enhancement: Continuously update your skills in emerging AI/ML technologies and tools. Specializing in niche areas like deep learning or natural language processing can make you more valuable.

• Advanced Education: Pursuing a master's or Ph.D. in a related field can open up higher-paying opportunities and leadership roles.

• Networking: Engage with industry professionals through conferences, workshops, and online platforms. Networking can lead to opportunities in higher-paying companies or roles.

• Performance and Results: Demonstrating a track record of impactful projects and results can position you for promotions or salary negotiations.

Educational Requirements

Most Research Analyst positions in AI/ML/Data Science require at least a bachelor's degree in a related field such as computer science, data science, statistics, or mathematics. However, a master's degree or Ph.D. is often preferred, especially for roles involving complex research and development tasks.

Helpful Certifications

While not always mandatory, certain certifications can enhance your profile:

• Certified Data Scientist (CDS)
• TensorFlow Developer Certificate
• AWS Certified Machine Learning – Specialty
• Microsoft Certified: Azure AI Engineer Associate

These certifications demonstrate proficiency in specific tools and platforms, which can be advantageous in job applications and salary negotiations.

Experience Requirements

Typically, employers look for candidates with 2-5 years of experience in data analysis, machine learning, or a related field. Experience with specific tools and technologies, such as Python, R, SQL, and machine learning frameworks, is often required. Internships, research projects, or relevant work experience can also be valuable.

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