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The differences between economic research analysts and research leaders 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 leader. Additionally, a research leader has an average salary of $107,345, which is higher than the $78,261 average annual salary of an economic research analyst.
The top three skills for an economic research analyst include data analysis, stata and SAS. The most important skills for a research leader are data collection, data analysis, and market research.
| Economic Research Analyst | Research Leader | |
| Yearly salary | $78,261 | $107,345 |
| Hourly rate | $37.63 | $51.61 |
| Growth rate | 19% | 19% |
| Number of jobs | 84,230 | 77,051 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 66% |
| 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.
Research Leaders are academicians who oversee a group of researchers conducting a study. They are usually well-known researchers in their field of study or area of interest. They manage the group throughout the whole research process. They may orient them at the start of the engagement to ensure that everyone is on the same page. Research Leaders direct the group in identifying the resources needed, finding these resources, and eventually managing them. They also guide the team in conducting the research properly by providing strategic direction, sharing techniques, and helping them analyze the gathered data. With their experience in the field, Research Leaders usually provide frameworks that the team may work within.
Economic research analysts and research leaders have different pay scales, as shown below.
| Economic Research Analyst | Research Leader | |
| Average salary | $78,261 | $107,345 |
| Salary range | Between $53,000 And $114,000 | Between $64,000 And $178,000 |
| Highest paying City | Washington, DC | Jersey City, NJ |
| Highest paying state | New Jersey | New Jersey |
| Best paying company | Ariad Pharmaceuticals | Meta |
| Best paying industry | Manufacturing | Pharmaceutical |
There are a few differences between an economic research analyst and a research leader in terms of educational background:
| Economic Research Analyst | Research Leader | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 66% |
| Most common major | Economics | Psychology |
| Most common college | University of Georgia | Northwestern University |
Here are the differences between economic research analysts' and research leaders' demographics:
| Economic Research Analyst | Research Leader | |
| Average age | 37 | 37 |
| Gender ratio | Male, 56.6% Female, 43.4% | Male, 56.4% Female, 43.6% |
| 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, 4.8% Unknown, 4.9% Hispanic or Latino, 11.3% Asian, 14.3% White, 64.6% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 10% | 10% |