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The differences between economic analysts and senior 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 senior analyst. Additionally, a senior analyst has an average salary of $84,799, 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 senior analyst are analytics, data analysis, and tableau.
| Economic Analyst | Senior Analyst | |
| Yearly salary | $72,501 | $84,799 |
| Hourly rate | $34.86 | $40.77 |
| Growth rate | 9% | 11% |
| Number of jobs | 81,768 | 159,807 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 68% |
| Average age | 40 | 44 |
| 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.
A senior analyst's responsibilities will vary in every organization or industry. However, their primary role is to gain an understanding of a company's strengths and weaknesses. Through this, they can devise strategies and determine new opportunities that would be significant in attaining financial gains and a more substantial client base. Furthermore, it is a senior analyst's responsibility to coordinate with various departments, and even clients, to establish a rapport that will be essential in gaining the needed information to catapult a company to its finest.
Economic analysts and senior analysts have different pay scales, as shown below.
| Economic Analyst | Senior Analyst | |
| Average salary | $72,501 | $84,799 |
| Salary range | Between $49,000 And $107,000 | Between $63,000 And $112,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | New Jersey | New Jersey |
| Best paying company | The Citadel | The Citadel |
| Best paying industry | Professional | Finance |
There are a few differences between an economic analyst and a senior analyst in terms of educational background:
| Economic Analyst | Senior Analyst | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 68% |
| Most common major | Economics | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between economic analysts' and senior analysts' demographics:
| Economic Analyst | Senior Analyst | |
| Average age | 40 | 44 |
| Gender ratio | Male, 65.9% Female, 34.1% | Male, 61.8% Female, 38.2% |
| 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, 7.4% Unknown, 4.4% Hispanic or Latino, 8.4% Asian, 14.3% White, 65.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 7% | 12% |