April 2015 Newsletter: MR Compensation and Job Security
We wanted to share several key findings from the 2015 Annual Survey of Market Research Professionals. We hope you enjoy these insights only available from MarketResearchCareers.
Today, the majority of research professionals feel they have less time to complete their projects and believe they are overworked.
Currently the "typical" MR professional has an annual salary approaching $105,500. In 2015, MR Professionals expect an average raise of 3.0% and an annual bonus of more than $25,000.
Interestingly, MR professionals working in Corporate Research Departments tend to earn a higher base salary as do those individuals working on the East or West Coast (compared to the Central or Mountain areas). Of course, compensation also varies by experience, industry, role and other dimensions.
A greater number of researchers have received a performance review in the past year, with fewer switching jobs, searching for jobs or attending an interview.
Since 2014, overall job satisfaction among MR professionals has increased by five percentage points.
Hiring and Layoffs
But while nearly half (51%) of all research organizations intend to hire in 2015, expectations for layoffs have modestly increased for the same period. Researchers believe Corporate Research Departments or organizations with more than 1,000 employees are more likely to engage in workforce reduction practices in 2015.
The tenth editionof the Annual Survey of Market Research Professionals was conducted between January 12 and February 1, 2015 capturing the opinions of 675 market research professionals.
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