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The differences between economic analysts and investment banking 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 investment banking analyst. Additionally, an economic analyst has an average salary of $72,501, which is higher than the $60,598 average annual salary of an investment banking analyst.
The top three skills for an economic analyst include SQL, SAS and data analysis. The most important skills for an investment banking analyst are financial models, discounted cash flow, and healthcare.
| Economic Analyst | Investment Banking Analyst | |
| Yearly salary | $72,501 | $60,598 |
| Hourly rate | $34.86 | $29.13 |
| Growth rate | 9% | 9% |
| Number of jobs | 81,768 | 52,791 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 83% |
| 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 Investment Banking Analyst reviews and analyzes data for investment banking portfolios. They work with individuals and businesses to suggest potential investments for their clients.
Economic analysts and investment banking analysts have different pay scales, as shown below.
| Economic Analyst | Investment Banking Analyst | |
| Average salary | $72,501 | $60,598 |
| Salary range | Between $49,000 And $107,000 | Between $35,000 And $104,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | New Jersey | California |
| Best paying company | The Citadel | The Citadel |
| Best paying industry | Professional | Finance |
There are a few differences between an economic analyst and an investment banking analyst in terms of educational background:
| Economic Analyst | Investment Banking Analyst | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 83% |
| Most common major | Economics | Finance |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between economic analysts' and investment banking analysts' demographics:
| Economic Analyst | Investment Banking Analyst | |
| Average age | 40 | 40 |
| Gender ratio | Male, 65.9% Female, 34.1% | Male, 75.3% Female, 24.7% |
| 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% |