Operations Research AnalystsAnalysts, Operations Research salary statistic
The operations research analyst conducts research for their employer as it relates to the company’s operations. This includes tracking down new trends in operations, collecting data related to current operations, and digging into that data to find valuable information and to detect certain patterns.
The purpose of this research is to determine how effective and efficient current operational procedures are, to recognize potential problem areas, and to identify how and where improvements can be made. They also seek out opportunities to reduce operation costs without impacting quality and efficiency.
This job involves dealing with large sets of data, creating models, and using a variety of analysis tools. Essentially, someone in this position gathers and organizes the information that company executives use to make important decisions about the daily operations, policies, and procedures that can impact customers, employees, and investors alike.
Operations Research Analyst Salary Report: Skills And Education
People in this position have the bare minimum of a Bachelor’s degree. Many have graduate degrees. It is very common for research analysts to possess degrees in computer or managerial science. In some cases, the operations research analyst will have a Bachelor’s degree in an industry relevant field such as Finance, Business Administration, or Engineering. Then, they will buttress that with a Master’s degree in a more analytical discipline.
Industry specific certifications are also held in high regard. This is because these indicate that the analyst has relevant experience and knowledge regarding the trends and regulations that impact their industry specifically.
Even though the research operations analyst spends much of their time immersed in data, having people skills is still extraordinarily important. One of the tasks people in this field commonly perform is translating complex data so that it can be easily understood by managers and executives. There’s also a frequent need for a bit of diplomacy when it becomes necessary to suggest that existing operational methodologies are not working well.
Operations Research Analyst Salary Report: Income Information
The median salary for a research analyst who explores the effectiveness of a company’s operations is just under 75K. The total range is from 45K to 110K. Some, but certainly not all enjoy commissions and profit sharing. It is generally accepted that this is a full time position that comes with the usual health and other benefits.
Once an analyst has gained about twenty years of total experience, they tend to look for new employment. Salary in this field is positively impacted by the ability to do digital modeling, SQL experience, and the ability to incorporate simulation.
Geography also impacts things. For example, folks in this career field who live in Washington make significantly more money that those who live elsewhere.
This is a male dominated field where most people stay on the job between one and nine years. High levels of satisfaction are reported by operations research analysts in spite of the relatively short time on the job.
Overall, the career outlook is pretty good. The only concern workers should have is the continued advancement of analytics tools could potentially reduce the need for trained and degreed research analyst.