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The differences between economic analysts and associate 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 economic analyst and an associate analyst. Additionally, an economic analyst has an average salary of $72,501, which is higher than the $68,161 average annual salary of an associate analyst.
The top three skills for an economic analyst include SQL, SAS and data analysis. The most important skills for an associate analyst are customer service, powerpoint, and data analysis.
| Economic Analyst | Associate Analyst | |
| Yearly salary | $72,501 | $68,161 |
| Hourly rate | $34.86 | $32.77 |
| Growth rate | 9% | 9% |
| Number of jobs | 81,768 | 97,311 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 72% |
| Average age | 40 | 40 |
| Years of experience | 4 | 4 |
An economic analyst is in charge of observing and analyzing the economy's state to assist a company in its decision-making endeavors. Their responsibilities revolve around keeping track of different markets, learning the impact of politics and important events to the economy, gathering data from various departments, and creating business plans and forecasts based on the findings. Moreover, in a company setting, an economic analyst may produce progress reports and presentations, mentor younger analysts, and implement the company's policies and regulations.
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.
Economic analysts and associate analysts have different pay scales, as shown below.
| Economic Analyst | Associate Analyst | |
| Average salary | $72,501 | $68,161 |
| Salary range | Between $49,000 And $107,000 | Between $47,000 And $98,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | New Jersey | New York |
| Best paying company | The Citadel | Apollo Global Management |
| Best paying industry | Professional | Finance |
There are a few differences between an economic analyst and an associate analyst in terms of educational background:
| Economic Analyst | Associate Analyst | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 72% |
| Most common major | Economics | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between economic analysts' and associate analysts' demographics:
| Economic Analyst | Associate Analyst | |
| Average age | 40 | 40 |
| Gender ratio | Male, 65.9% Female, 34.1% | Male, 52.3% Female, 47.7% |
| 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, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |