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The differences between economic research analysts and pricing analysts 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 pricing analyst. Additionally, an economic research analyst has an average salary of $78,261, which is higher than the $64,168 average annual salary of a pricing analyst.
The top three skills for an economic research analyst include data analysis, stata and SAS. The most important skills for a pricing analyst are pricing strategy, strong analytical, and customer service.
| Economic Research Analyst | Pricing Analyst | |
| Yearly salary | $78,261 | $64,168 |
| Hourly rate | $37.63 | $30.85 |
| Growth rate | 19% | 19% |
| Number of jobs | 84,230 | 73,462 |
| Job satisfaction | - | 5 |
| 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.
Pricing analysts are responsible for examining competitors' pricing strategies and industry standards to aid businesses in determining and setting competitive pricing. These professionals study consumer habits and behavior to gauge their willingness to pay for products and examine consumer spending. They conduct impact and mathematical analyses, and large-scale research to come up with their conclusions. Other duties and responsibilities include developing revenue forecasts and statistical models, monitoring industry trends, and developing pricing tools that can quickly respond to the rapidly changing market trends and needs.
Economic research analysts and pricing analysts have different pay scales, as shown below.
| Economic Research Analyst | Pricing Analyst | |
| Average salary | $78,261 | $64,168 |
| Salary range | Between $53,000 And $114,000 | Between $46,000 And $89,000 |
| Highest paying City | Washington, DC | Seattle, WA |
| Highest paying state | New Jersey | Washington |
| Best paying company | Ariad Pharmaceuticals | Apple |
| Best paying industry | Manufacturing | Finance |
There are a few differences between an economic research analyst and a pricing analyst in terms of educational background:
| Economic Research Analyst | Pricing Analyst | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 75% |
| Most common major | Economics | Business |
| Most common college | University of Georgia | University of Pennsylvania |
Here are the differences between economic research analysts' and pricing analysts' demographics:
| Economic Research Analyst | Pricing Analyst | |
| Average age | 37 | 37 |
| Gender ratio | Male, 56.6% Female, 43.4% | Male, 53.3% Female, 46.7% |
| 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, 5.0% Unknown, 5.0% Hispanic or Latino, 12.0% Asian, 13.0% White, 64.9% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 10% | 10% |