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The differences between associate analysts and business analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both an associate analyst and a business analyst. Additionally, a business analyst has an average salary of $74,431, which is higher than the $68,161 average annual salary of an associate analyst.
The top three skills for an associate analyst include customer service, powerpoint and data analysis. The most important skills for a business analyst are project management, data analysis, and business analysis.
| Associate Analyst | Business Analyst | |
| Yearly salary | $68,161 | $74,431 |
| Hourly rate | $32.77 | $35.78 |
| Growth rate | 9% | 9% |
| Number of jobs | 97,311 | 170,514 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 71% |
| Average age | 40 | 44 |
| Years of experience | 4 | 4 |
An associate analyst is an individual who is responsible for the research and investigation for a specific business process and department to help the senior staff make further decisions. Associate analysts must use their analytical skills to understand how the collected data can affect business decisions, then prepare reports that detail findings and recommend solutions. They must assist in developing new business models that can generate profits while reducing costs. Associate analysts can work in various industries ranging from finance and operations to information technology (IT) and marketing.
Business analysts are employees who are responsible for interpreting business data and coming up with business solutions. They are well-versed in whatever business the company is in, and they have strong business acumen. They collect data related to the business and then interpret and analyze the data. Business analysts should be able to conduct different levels of analyses and must also be able to create a sound study. Once the analysis is done, they provide recommendations or strategic direction to decision-makers that will help the business become sustainable and grow.
Associate analysts and business analysts have different pay scales, as shown below.
| Associate Analyst | Business Analyst | |
| Average salary | $68,161 | $74,431 |
| Salary range | Between $47,000 And $98,000 | Between $53,000 And $103,000 |
| Highest paying City | San Francisco, CA | Mountain View, CA |
| Highest paying state | New York | Washington |
| Best paying company | Apollo Global Management | The Citadel |
| Best paying industry | Finance | Finance |
There are a few differences between an associate analyst and a business analyst in terms of educational background:
| Associate Analyst | Business Analyst | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between associate analysts' and business analysts' demographics:
| Associate Analyst | Business Analyst | |
| Average age | 40 | 44 |
| Gender ratio | Male, 52.3% Female, 47.7% | Male, 53.9% Female, 46.1% |
| Race ratio | Black or African American, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% | Black or African American, 6.2% Unknown, 4.7% Hispanic or Latino, 8.8% Asian, 12.0% White, 67.7% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 7% | 11% |