Research Analyst Salary in 2024

Salary details

The average Research Analyst salary lies between USD 78,308 and USD 150,000 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: Jan. 19, 2025

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 Statistics. Below you find a list of the 20 most occuring job tags in 2024 and the number of open jobs that where associated with them during that period:

Research | 489 jobs Python | 325 jobs Statistics | 282 jobs R | 232 jobs Excel | 230 jobs Data analysis | 192 jobs SQL | 185 jobs Engineering | 158 jobs Economics | 156 jobs Security | 138 jobs Mathematics | 137 jobs Finance | 125 jobs Power BI | 99 jobs Tableau | 97 jobs Machine Learning | 96 jobs SAS | 95 jobs Computer Science | 91 jobs Data visualization | 83 jobs Market research | 83 jobs Data Analytics | 65 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, Health care and Flex hours. Below you find a list of the 20 most occuring job perks or benefits in 2024 and the number of open jobs that where offering them during that period:

Career development | 310 jobs Health care | 238 jobs Flex hours | 131 jobs Competitive pay | 130 jobs Equity / stock options | 118 jobs Startup environment | 114 jobs Insurance | 111 jobs Team events | 100 jobs Flex vacation | 87 jobs Wellness | 87 jobs Medical leave | 70 jobs Salary bonus | 62 jobs Parental leave | 53 jobs 401(k) matching | 46 jobs Conferences | 35 jobs Transparency | 18 jobs Relocation support | 15 jobs Flexible spending account | 13 jobs Fitness / gym | 9 jobs Home office stipend | 9 jobs

Salary Composition

The salary for a Research Analyst in AI/ML/Data Science typically comprises a fixed base salary, performance-based bonuses, and additional remuneration such as stock options or benefits. The composition can vary significantly depending on the region, industry, and company size. In tech hubs like Silicon Valley, the base salary might be higher, but bonuses and stock options can also form a substantial part of the total compensation package. In contrast, companies in regions with a lower cost of living might offer a smaller base salary but compensate with other benefits. Industries such as finance or healthcare might offer higher bonuses compared to academia or non-profits. Larger companies often provide more comprehensive benefits and stock options, while startups might offer equity as a significant part of the package.

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, natural language processing, or computer vision can make you more valuable.
• Advanced Education: Pursuing a master's or Ph.D. in a relevant field can open up higher-paying opportunities.
• Networking: Engage with professional networks and attend industry conferences to learn about new opportunities and trends.
• Leadership Roles: Aim for roles with more responsibility, such as leading projects or teams, which often come with higher pay.
• Switching Companies: Sometimes, moving to a different company can result in a significant salary increase, especially if the new company values your specific skill set more.

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, mathematics, or statistics. However, a master's degree or Ph.D. is often preferred, especially for roles that involve complex data analysis or algorithm development. Advanced degrees can provide a deeper understanding of theoretical concepts and practical applications, making candidates more competitive.

Helpful Certificates

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
• Google Professional Machine Learning Engineer

These certifications demonstrate proficiency in specific tools and platforms, which can be advantageous in the job market.

Experience Requirements

Typically, employers look for candidates with 2-5 years of experience in data analysis, machine learning, or a related field. Experience with data manipulation, statistical analysis, and machine learning model development is crucial. Internships, research projects, or relevant work experience can also be valuable in demonstrating your capabilities.

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