Mastering key skills can significantly increase your earning potential as a Product Analyst. According to Salary.com’s Real-time Job Posting Data, expertise in Collaboration can lead to a 8% salary raise, while strong Product Development skills boost pay by a 2%. As a market research analyst, your work would entail analyzing market trends and data to support marketing and product initiatives.
Average Product Analyst Salary in Malaysia
The full compensation package for a product analyst depends on a variety of factors, including but not limited to the candidate’s experience and geographic location. See below for detailed information on the average product analyst salary. Additional compensation from tips, profit sharing, and commissions will be around £3,415 1. As a product analyst, you’ll monitor products’ performance over their lifecycle. It’s essential to look for patterns and trends that indicate how well a product performs on the market.
Salary outlook for product analysts
You’ll understand the statistical side of data analytics, be able to make projections and infer causation and correlations from data. Be able to produce detailed reports by summarising and presenting your findings https://wizardsdev.com/en/vacancy/sales-manager-outstaff-outsource/ in an easily understood manner. Your success will depend on how well you tell the story of the analysed data. If you can engage the interest of stakeholders with the impact of your insights, you’ll be able to affect change.
Average Product salaries in US
A product analyst can become a business analyst if they have the necessary skillset and want to specialize in business analysis. The product analyst is responsible for communicating with stakeholders (customers, executives, marketing, etc.) to ensure everyone is aligned on the product vision and goals. A product analyst must be thorough with the product analysis process and capture the needs and requirements of the customers. You can do this through user interviews, surveys, focus groups, etc.
- A business analyst’s job is to understand a company’s financials, assess risk, and make recommendations to improve the business.
- Our data covers more than 25,000 unique job titles over 8,000 organizations.
- Beyond seniority, company, and location, there are other factors that can impact the salary of product analysts.
- If you love data and are curious, innovative, and collaborative, consider a career as a product analyst.
- Organisations need them to gather and interpret data to design better products and services.
- However, there are some common duties that all product analysts perform.
What is the Pay by Experience Level for Senior Product Analysts?
You’ll also help decide when a product has come to the end of its life. This allows you to determine what product features are widely adopted and which need improvement. This person is responsible for understanding customers’ needs and translating them into actionable requirements for the development team. Read on to learn more about product analysts’ work duties, pay prospects, and industry trends for product analyst salary figures. Work experience and seniority are important factors in determining the salary of product analysts.
As a product analyst, you’ll work on exciting BI Developer/Analyst job projects throughout the product lifecycle and directly impact product strategy and business performance. If you love data and are curious, innovative, and collaborative, consider a career as a product analyst. Product analysts observe market trends and customer experiences to develop strategies and product recommendations.
- The product analyst’s job entails gathering and analysing data on how customers use a particular product.
- Product Analyst salaries are based on responses gathered by Built In from anonymous Product Analyst employees in US.
- The Zuckerberg universe is another great company offering a handsome product analyst salary.
- The following table lists the base salary ranges provided by Payscale, Glassdoor, Zippia, Indeed, and Salary.com.
- If you’re ready to take your next step into a product analyst career, you can start building your knowledge and skills by learning online.
Talking about product management, the primary app that product managers rely on is Chisel. Coding It comes with a package filled with features such as building team alignment, creating product roadmaps, and collecting customer feedback. For example, product analysts may help on what new features to develop, what kind of product-specific marketing strategy may be the best, and how to retain customers. The product analyst role requires strong analytical skills and an understanding of software development and how to communicate with developers. Why This Role MattersThis role serves as a critical link between business needs and technical execution, ensuring successful project outcomes.
Companies Hiring Product Analysts
Subsequently, you’ll monitor sales numbers and gather customer feedback data to gauge performance. A product analyst’s job is to understand the customer, market, and business to help the product team make data-driven decisions. Educational requirements for a product analyst include having at least a bachelor’s degree in business, engineering, information systems, or a related field. However, many companies are willing to hire candidates who have no formal education but have worked in the same role for at least three years. As the demand for product analysts continues to increase, it’s essential to understand what this job entails and what skills you need to succeed. The average Product Analyst salary in the United Kingdom is £35,827 as of March 03, 2021, but the range typically falls between £28,568 and £42,455.
