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The differences between economic consultants and business analyst-consultants 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 consultant and a business analyst-consultant. Additionally, a business analyst-consultant has an average salary of $90,127, which is higher than the $81,767 average annual salary of an economic consultant.
The top three skills for an economic consultant include SAS, SQL and data analysis. The most important skills for a business analyst-consultant are strong analytical, business process, and data analysis.
| Economic Consultant | Business Analyst-Consultant | |
| Yearly salary | $81,767 | $90,127 |
| Hourly rate | $39.31 | $43.33 |
| Growth rate | 11% | 11% |
| Number of jobs | 75,508 | 166,560 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 69% |
| Average age | 44 | 44 |
| Years of experience | 4 | 4 |
An economic consultant is responsible for analyzing data statistics and market conditions that affect the performance of the production and manufacturing processes of an organization. Economic consultants develop business plans to address economic difficulties based on the research and data methodologies. They write reports for the management's reference and discuss sales forecasts, as well as the availability of resources depending on the market changes. An economic consultant should have excellent communication and analytical skills, especially in helping the organization identify opportunities in the long run that would generate more revenues and profits.
A business analyst-consultant is responsible for overseeing the project management and ensuring that the operations meet the agreed-upon project deliverables. Business analyst-consultants closely coordinate with the clients for their specifications and requirements, monitoring the resources and processes for the project completion, and aligning those to the clients' budget goals. A business analyst-consultant helps the development team on strategizing techniques for brand promotions with minimal costs with maximum quality and productivity. They should have excellent communication and organizational skills, especially on identifying business opportunities to drive revenues and increase profitability.
Economic consultants and business analyst-consultants have different pay scales, as shown below.
| Economic Consultant | Business Analyst-Consultant | |
| Average salary | $81,767 | $90,127 |
| Salary range | Between $55,000 And $121,000 | Between $66,000 And $122,000 |
| Highest paying City | Washington, DC | Washington, DC |
| Highest paying state | Massachusetts | California |
| Best paying company | Bates White, LLC | BNY Mellon |
| Best paying industry | Professional | Finance |
There are a few differences between an economic consultant and a business analyst-consultant in terms of educational background:
| Economic Consultant | Business Analyst-Consultant | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 69% |
| Most common major | Economics | Business |
| Most common college | Northwestern University | Northwestern University |
Here are the differences between economic consultants' and business analyst-consultants' demographics:
| Economic Consultant | Business Analyst-Consultant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 64.1% Female, 35.9% | Male, 53.1% Female, 46.9% |
| Race ratio | 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% | Black or African American, 7.5% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.5% White, 64.9% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 12% | 12% |