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The differences between economic research analysts and research 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 research analyst. Additionally, an economic research analyst has an average salary of $78,261, which is higher than the $70,232 average annual salary of a research analyst.
The top three skills for an economic research analyst include data analysis, stata and SAS. The most important skills for a research analyst are data analysis, data collection, and research projects.
| Economic Research Analyst | Research Analyst | |
| Yearly salary | $78,261 | $70,232 |
| Hourly rate | $37.63 | $33.77 |
| Growth rate | 19% | 19% |
| Number of jobs | 84,230 | 81,374 |
| Job satisfaction | - | 4.5 |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 70% |
| 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 research analyst is responsible for providing a company with insights and advice concerning finance, investments, and expenditures. Utilizing their analytical skills and extensive expertise in marketing, they analyze the trends and significant factors to conclude which decision should be the best to make. They can also take part in conducting an in-depth analysis of a business and examine which areas require improvement or has potential. Furthermore, they may work with a company or independently as a freelance analyst.
Economic research analysts and research analysts have different pay scales, as shown below.
| Economic Research Analyst | Research Analyst | |
| Average salary | $78,261 | $70,232 |
| Salary range | Between $53,000 And $114,000 | Between $45,000 And $107,000 |
| Highest paying City | Washington, DC | Seattle, WA |
| Highest paying state | New Jersey | Washington |
| Best paying company | Ariad Pharmaceuticals | The Citadel |
| Best paying industry | Manufacturing | Finance |
There are a few differences between an economic research analyst and a research analyst in terms of educational background:
| Economic Research Analyst | Research Analyst | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 70% |
| Most common major | Economics | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between economic research analysts' and research analysts' demographics:
| Economic Research Analyst | Research Analyst | |
| Average age | 37 | 37 |
| Gender ratio | Male, 56.6% Female, 43.4% | Male, 50.8% Female, 49.2% |
| 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, 4.7% Unknown, 4.9% Hispanic or Latino, 11.3% Asian, 14.3% White, 64.7% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 10% | 10% |