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The differences between economic research analysts and marketing consultants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both an economic research analyst and a marketing consultant. Additionally, an economic research analyst has an average salary of $78,261, which is higher than the $70,593 average annual salary of a marketing consultant.
The top three skills for an economic research analyst include data analysis, stata and SAS. The most important skills for a marketing consultant are customer service, web content, and media sales.
| Economic Research Analyst | Marketing Consultant | |
| Yearly salary | $78,261 | $70,593 |
| Hourly rate | $37.63 | $33.94 |
| Growth rate | 19% | 19% |
| Number of jobs | 84,230 | 88,935 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 75% |
| Average age | 37 | 37 |
| Years of experience | 6 | 6 |
An economic research analyst uses modeling, qualitative analysis, and quantitative methods to gather and evaluate statistical data and economic data. They forecast patterns/trends and discuss economic phenomena by compiling data, analyzing data, reporting data, and applying statistical techniques and models. Besides formulating plans, policies, and recommendations to resolve economic issues, economic research analysts also work hand-in-hand with economists on matters relating to country strategy papers and policy-based loans. They provide research and background material needed in making effective policies.
A marketing consultant is responsible for utilizing their extensive retail expertise to develop strategies on how to strengthen client base and achieve better sales. Furthermore, a marketing consultant must perform research and analysis to determine opportunities for financial gains, devise plans to improve client satisfaction, assess the competition, look out for any risks, and develop its brand and image. They should also ensure that all steps taken adhere to the policies and regulations of the organization.
Economic research analysts and marketing consultants have different pay scales, as shown below.
| Economic Research Analyst | Marketing Consultant | |
| Average salary | $78,261 | $70,593 |
| Salary range | Between $53,000 And $114,000 | Between $44,000 And $112,000 |
| Highest paying City | Washington, DC | Wilmington, DE |
| Highest paying state | New Jersey | Delaware |
| Best paying company | Ariad Pharmaceuticals | Meta |
| Best paying industry | Manufacturing | Technology |
There are a few differences between an economic research analyst and a marketing consultant in terms of educational background:
| Economic Research Analyst | Marketing Consultant | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 75% |
| Most common major | Economics | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between economic research analysts' and marketing consultants' demographics:
| Economic Research Analyst | Marketing Consultant | |
| Average age | 37 | 37 |
| Gender ratio | Male, 56.6% Female, 43.4% | Male, 46.0% Female, 54.0% |
| Race ratio | Black or African American, 4.8% Unknown, 4.9% Hispanic or Latino, 11.3% Asian, 14.3% White, 64.5% American Indian and Alaska Native, 0.1% | Black or African American, 5.3% Unknown, 5.0% Hispanic or Latino, 12.7% Asian, 10.8% White, 65.9% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 10% | 10% |