Average Market Research Analysts and Marketing Specialists Salary in Lexington-Fayette, KY
In Lexington-Fayette, KY, Market Research Analysts and Marketing Specialists earn an average annual salary of $66,360. This figure is notably below the national average of $86,770, reflecting regional economic factors and a lower concentration of these specialized roles within the local workforce. The specific demand and industry landscape in Lexington-Fayette directly influence this compensation level.
Executive Summary
- Average Salary: $66,360 per year.
- Growth Trend: Salaries have shifted 23.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $99,990.
- Outlook: The job market for Market Research Analysts and Marketing Specialists in Lexington-Fayette, KY, comprises approximately 910 professionals. With a Location Quotient of 0.57, the concentration of these roles is below the national average, suggesting a less saturated but potentially less robust demand compared to national hubs. The presence of 3.209 jobs per 1,000 workers indicates a steady, albeit not dominant, presence of this profession.
Salary Overview
The average Market Research Analysts and Marketing Specialists in Lexington-Fayette, KY earns-23.5%below the national average.
$31.9
$1,276
$5,530
Market Research Analysts and Marketing Specialists Salary Trends (2020-2024)
While specific historical data for Lexington-Fayette is not provided, it is generally observed that salaries for Market Research Analysts and Marketing Specialists have experienced consistent growth over the past four years across the nation. This trend is typically driven by increasing data complexity, the growing importance of market insights, and inflation, suggesting that local salaries in Lexington-Fayette have likely also seen upward adjustments, albeit potentially at a different pace than the national average.
Market Research Analysts and Marketing Specialists Salary Distribution in Lexington-Fayette, KY
Career progression for Market Research Analysts and Marketing Specialists in Lexington-Fayette, KY, typically involves a significant salary increase with experience. Entry-level positions might start closer to the lower end of the pay scale, while seasoned professionals with specialized skills and a proven track record can command salaries well above the average. The percentile gaps between junior and senior roles signify substantial opportunities for career advancement and increased earning potential within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $34,240 | $16.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $49,770 | $23.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $60,430 | $29.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $82,950 | $39.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $99,990 | $48.1 |
Detailed Market Research Analysts and Marketing Specialists Market Analysis
Relocation Context
Nominal Salary
$66,360
Gross Pay
Real Wage (Purchasing Power)
$66,360
Adjusted for COL (100)
The average annual salary of $66,360 in Lexington-Fayette, KY, aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of the local salary is equivalent to the national average, making the nominal salary effectively represent the cost of living. While not offering a cost-of-living advantage, it suggests financial stability relative to national benchmarks for those employed in this sector.
Job Market Context
910
Total Jobs
3.209
Per 1K Jobs
0.57
Location Quotient
Lexington-Fayette, KY has 0.57x the national average concentration of Market Research Analysts and Marketing Specialists jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
With a Location Quotient of 0.57, the market for Market Research Analysts and Marketing Specialists in Lexington-Fayette, KY, is less concentrated than the national average. This indicates that these roles are not as prevalent in Lexington-Fayette compared to other regions, suggesting a potentially less competitive job market for employers seeking talent, but also fewer opportunities for job seekers compared to more saturated areas. The lower concentration implies that specialized skills might be more valued, but the overall volume of available positions is moderate.
Nearby Job Markets
Nearby Cities for Market Research Analysts and Marketing Specialists
Comparing salaries near Lexington-Fayette, KY
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Frequently Asked Questions
How much does a Market Research Analysts and Marketing Specialists make in Lexington-Fayette, KY?
The median annual salary for a Market Research Analysts and Marketing Specialists in Lexington-Fayette, KY is $66,360. This typically ranges from $34,240 for entry-level positions to $99,990 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Lexington-Fayette, KY is 23.5% lower than the national median of $86,770.
Is Lexington-Fayette, KY a lucrative place for Market Research Analysts and Marketing Specialists?
No, not particularly lucrative compared to national averages.The average salary of $66,360 is significantly lower than the national average of $86,770, although the cost of living is on par with the national average.
Is Lexington-Fayette, KY a good place to live for Market Research Analysts and Marketing Specialists?
The Cost of Living Index in Lexington-Fayette, KY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Lexington-Fayette, KY?
Some top paying nearby cities include Central Kentucky nonmetropolitan area ($59,400) and South Central Kentucky nonmetropolitan area.
How does the Lexington-Fayette salary compare to the national average?
The average salary for Market Research Analysts and Marketing Specialists in Lexington-Fayette, KY is $66,360, which is $20,410 less than the national average of $86,770.
What is the concentration of Market Research Analysts and Marketing Specialists in Lexington-Fayette, KY?
The concentration, measured by the Location Quotient, is 0.57, indicating that these roles are less common in Lexington-Fayette compared to the national average.
Does the cost of living affect the value of the salary in Lexington-Fayette, KY?
No, the cost of living in Lexington-Fayette, KY is exactly at the national average (100), meaning the $66,360 salary has the same purchasing power as the national average salary.
How many Market Research Analysts and Marketing Specialists work in Lexington-Fayette, KY?
There are approximately 910 Market Research Analysts and Marketing Specialists employed in the Lexington-Fayette, KY area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 910 employees in the Lexington-Fayette, KY area with a job density of 3.209 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Market Research Analysts and Marketing Specialists • Data source: BLS OEWS 2024 •Jobs in Lexington-Fayette, KY