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The differences between buying analysts and purchase analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a buying analyst, becoming a purchase analyst takes usually requires 2-4 years. Additionally, a buying analyst has an average salary of $77,425, which is higher than the $64,581 average annual salary of a purchase analyst.
The top three skills for a buying analyst include purchase orders, delivery schedules and MRP. The most important skills for a purchase analyst are purchase orders, supplier performance, and continuous improvement.
| Buying Analyst | Purchase Analyst | |
| Yearly salary | $77,425 | $64,581 |
| Hourly rate | $37.22 | $31.05 |
| Growth rate | 11% | 11% |
| Number of jobs | 22,966 | 88,542 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 70% |
| Average age | 48 | 44 |
| Years of experience | 6 | 4 |
A buying analyst specializes in conducting extensive market research and analysis to develop conclusions and recommendations that will help companies in making purchase decisions. They focus on studying the suppliers and competing companies, gathering and analyzing consumer feedback, performing audits and risk assessments, and making forecast models. They may also assess and evaluate external parties, such as vendors and distributors. Through the findings of their research, a buying analyst may also help in establishing guidelines, protocols, and methods to optimize business operations and develop solutions against problem areas.
A purchase analyst is responsible for looking at the market outlook and determining what and when to buy when ordering supplies. They are responsible for making an investment in a product or technology, and contracting with vendors. You have varied duties and responsibilities that include researching product prices and comparisons, determining price history and cost-effectiveness, and providing leadership for logistics, resource management decisions, and sourcing. You will also be responsible for purchasing equipment from suppliers and working closely with leadership to develop sourcing strategies.
Buying analysts and purchase analysts have different pay scales, as shown below.
| Buying Analyst | Purchase Analyst | |
| Average salary | $77,425 | $64,581 |
| Salary range | Between $52,000 And $113,000 | Between $42,000 And $98,000 |
| Highest paying City | Palo Alto, CA | Milford, MA |
| Highest paying state | Washington | New Jersey |
| Best paying company | YellowHammer | MPS Horticulture |
| Best paying industry | Finance | Retail |
There are a few differences between a buying analyst and a purchase analyst in terms of educational background:
| Buying Analyst | Purchase Analyst | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 70% |
| Most common major | Business | Business |
| Most common college | Northwestern University | Northwestern University |
Here are the differences between buying analysts' and purchase analysts' demographics:
| Buying Analyst | Purchase Analyst | |
| Average age | 48 | 44 |
| Gender ratio | Male, 52.2% Female, 47.8% | Male, 45.8% Female, 54.2% |
| Race ratio | Black or African American, 9.1% Unknown, 4.4% Hispanic or Latino, 12.4% Asian, 7.4% White, 65.9% American Indian and Alaska Native, 0.8% | Black or African American, 8.4% Unknown, 4.5% Hispanic or Latino, 9.1% Asian, 10.6% White, 67.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 7% | 12% |