Market Research Industry Stabilizes: Budgets Reverse Decline with a Planned 1.1% Increase for 2010
Despite a difficult 2009, 43% of research organizations expect to hire in 2010.
Stamford, CT, February 22, 2010 --(PR.com)-- The fifth Annual Survey of Market Research Professionals conducted by MarketResearchCareers reveals the 2009 contraction of the market research industry has abated with expectations for growth returning for 2010.
"Despite 45% of all market research professionals characterizing 2009 as a "bad" or "terrible" fiscal year for their company, buyers of market research are expecting to spend 1.1% more in 2010 -- which is a dramatic improvement over last year's double digit decline," said Mike Carroll, Director of Sales and Marketing for MarketResearchCareers.
After a challenging year, the report reveals the sharpest increases of 2010 market research budgets are expected within the Advertising/Public Relations and Banking/Finance industries -- with the largest decreases within the Insurance and Retail/Wholesale industries.
With many research organizations sensing the "eye of the storm" has passed, 43% expect to hire in 2010 -- up significantly from 30% in 2009. Positions in greatest demand include: entry level researchers, Project Managers, and Market Research Managers.
The 2010 Annual Survey of Market Research Professionals also reveals average salaries increased 2.0% during the past year to $93,924 -- with clear variations by job title, years of experience, and industry role. Despite 45% of all market research professionals stating they are not anticipating a salary increase, the average 2010 expected raise is 2.3%.
"With skies clearing, the industry may still face a few squalls," said Carroll. With variations by company size, the report indicates that 16% of surveyed market research professionals expect their organization to conduct layoffs during 2010. "Compared to last year, 2010 appears to be a fundamentally stronger year for market research organizations and the industry as a whole," concluded Carroll.
For detailed budget, compensation, and industry information, please refer to this year's report.
The 2010 survey was conducted between January 7 and January 26, 2010 with 495 market research professionals completing the survey -- providing a data tolerance of +/- 4.4%.
To learn more or obtain a copy of the report, please visit contact:
Mike Carroll
Director of Sales and Marketing
1-800-872-5401
mcarroll@marketresearchcareers.com
About MarketResearchCareers
MarketResearchCareers is the career website with the most comprehensive database of resumes and jobs focusing exclusively on the Market Research industry.
Visited monthly by nearly half of all market research professionals in the United States and possessing the resumes of more than 30,000 market researchers, MarketResearchCareers is your market research staffing headquarters. See why so many corporate hiring managers, human resource professionals, market research suppliers, and thousands of skilled researchers turn to MarketResearchCareers to fill their market research jobs.
Visit us on the web at http://www.marketresearchcareers.com or call us at 1-800-872-5401.
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"Despite 45% of all market research professionals characterizing 2009 as a "bad" or "terrible" fiscal year for their company, buyers of market research are expecting to spend 1.1% more in 2010 -- which is a dramatic improvement over last year's double digit decline," said Mike Carroll, Director of Sales and Marketing for MarketResearchCareers.
After a challenging year, the report reveals the sharpest increases of 2010 market research budgets are expected within the Advertising/Public Relations and Banking/Finance industries -- with the largest decreases within the Insurance and Retail/Wholesale industries.
With many research organizations sensing the "eye of the storm" has passed, 43% expect to hire in 2010 -- up significantly from 30% in 2009. Positions in greatest demand include: entry level researchers, Project Managers, and Market Research Managers.
The 2010 Annual Survey of Market Research Professionals also reveals average salaries increased 2.0% during the past year to $93,924 -- with clear variations by job title, years of experience, and industry role. Despite 45% of all market research professionals stating they are not anticipating a salary increase, the average 2010 expected raise is 2.3%.
"With skies clearing, the industry may still face a few squalls," said Carroll. With variations by company size, the report indicates that 16% of surveyed market research professionals expect their organization to conduct layoffs during 2010. "Compared to last year, 2010 appears to be a fundamentally stronger year for market research organizations and the industry as a whole," concluded Carroll.
For detailed budget, compensation, and industry information, please refer to this year's report.
The 2010 survey was conducted between January 7 and January 26, 2010 with 495 market research professionals completing the survey -- providing a data tolerance of +/- 4.4%.
To learn more or obtain a copy of the report, please visit contact:
Mike Carroll
Director of Sales and Marketing
1-800-872-5401
mcarroll@marketresearchcareers.com
About MarketResearchCareers
MarketResearchCareers is the career website with the most comprehensive database of resumes and jobs focusing exclusively on the Market Research industry.
Visited monthly by nearly half of all market research professionals in the United States and possessing the resumes of more than 30,000 market researchers, MarketResearchCareers is your market research staffing headquarters. See why so many corporate hiring managers, human resource professionals, market research suppliers, and thousands of skilled researchers turn to MarketResearchCareers to fill their market research jobs.
Visit us on the web at http://www.marketresearchcareers.com or call us at 1-800-872-5401.
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MarketResearchCareers
Mike Carroll
800-872-5401
www.marketresearchcareers.com
Mike Carroll
800-872-5401
www.marketresearchcareers.com
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