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The differences between economic consultants and data 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 consultant and a data analyst. Additionally, an economic consultant has an average salary of $81,767, which is higher than the $74,342 average annual salary of a data analyst.
The top three skills for an economic consultant include SAS, SQL and data analysis. The most important skills for a data analyst are data analysis, python, and power bi.
| Economic Consultant | Data Analyst | |
| Yearly salary | $81,767 | $74,342 |
| Hourly rate | $39.31 | $35.74 |
| Growth rate | 11% | 11% |
| Number of jobs | 75,508 | 167,520 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 65% |
| 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.
Data analysts are responsible for interpreting the company's statistics and providing sound recommendations to the organization. They manage the organization's data sets, usually related to market performance, finance, or human resources. They are in charge of studying the available data, spotting trends, interpreting what the data and the trends mean, and recommending suggestions that will help the organization perform better. Their recommendations should also be relevant and backed up with strong analyses. Data analysts are expected to have a good grasp of the current market trends in the industry.
Economic consultants and data analysts have different pay scales, as shown below.
| Economic Consultant | Data Analyst | |
| Average salary | $81,767 | $74,342 |
| Salary range | Between $55,000 And $121,000 | Between $53,000 And $103,000 |
| Highest paying City | Washington, DC | Richmond, CA |
| Highest paying state | Massachusetts | New Jersey |
| Best paying company | Bates White, LLC | The Citadel |
| Best paying industry | Professional | Finance |
There are a few differences between an economic consultant and a data analyst in terms of educational background:
| Economic Consultant | Data Analyst | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 65% |
| Most common major | Economics | Business |
| Most common college | Northwestern University | Northwestern University |
Here are the differences between economic consultants' and data analysts' demographics:
| Economic Consultant | Data Analyst | |
| Average age | 44 | 44 |
| Gender ratio | Male, 64.1% Female, 35.9% | Male, 50.2% Female, 49.8% |
| 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% |