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The differences between economic analysts and corporate finance 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 a corporate finance analyst. Additionally, a corporate finance analyst has an average salary of $76,023, which is higher than the $72,501 average annual salary of an economic analyst.
The top three skills for an economic analyst include SQL, SAS and data analysis. The most important skills for a corporate finance analyst are financial analysis, strong analytical, and financial models.
| Economic Analyst | Corporate Finance Analyst | |
| Yearly salary | $72,501 | $76,023 |
| Hourly rate | $34.86 | $36.55 |
| Growth rate | 9% | 9% |
| Number of jobs | 81,768 | 114,375 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 76% |
| 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.
Corporate finance analysts make significant business decisions based on the data they gather. Typically, corporate finance analysts work within an organization and support management decisions through actionable financial information. They monitor the taxes, expenses, financial statements, and other financial details of where the company sources its income. This position requires a formal qualification in accounting. It also necessitates the analyst to develop interpersonal skills, knowledge in information technology software, financial reporting skills, and experience in management.
Economic analysts and corporate finance analysts have different pay scales, as shown below.
| Economic Analyst | Corporate Finance Analyst | |
| Average salary | $72,501 | $76,023 |
| Salary range | Between $49,000 And $107,000 | Between $52,000 And $109,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | New Jersey | Michigan |
| Best paying company | The Citadel | |
| Best paying industry | Professional | Finance |
There are a few differences between an economic analyst and a corporate finance analyst in terms of educational background:
| Economic Analyst | Corporate Finance Analyst | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 76% |
| Most common major | Economics | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between economic analysts' and corporate finance analysts' demographics:
| Economic Analyst | Corporate Finance Analyst | |
| Average age | 40 | 40 |
| Gender ratio | Male, 65.9% Female, 34.1% | Male, 63.5% Female, 36.5% |
| 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% |