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The differences between industrial analysts and research analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become an industrial analyst, becoming a research analyst takes usually requires 4-6 years. Additionally, a research analyst has an average salary of $70,232, which is higher than the $69,648 average annual salary of an industrial analyst.
The top three skills for an industrial analyst include macro, market research and quantitative analysis. The most important skills for a research analyst are data analysis, data collection, and research projects.
| Industrial Analyst | Research Analyst | |
| Yearly salary | $69,648 | $70,232 |
| Hourly rate | $33.48 | $33.77 |
| Growth rate | 11% | 19% |
| Number of jobs | 72,280 | 81,374 |
| Job satisfaction | - | 4.5 |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 70% |
| Average age | 44 | 37 |
| Years of experience | 4 | 6 |
An industrial analyst has access to the financial information of investors in order to give data-based recommendations that can boost the income of financial programs. Some of the tasks an industrial analyst does are preparing forecasts, developing models for the industrial scale, create segment taxonomies, and drawing graphs, tables, and spreadsheets based on gathered information from researches to come up with comparisons and more accurate forecasts. Normally, they work for research and consulting firms, but some also perform private consultation services.
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.
Industrial analysts and research analysts have different pay scales, as shown below.
| Industrial Analyst | Research Analyst | |
| Average salary | $69,648 | $70,232 |
| Salary range | Between $46,000 And $105,000 | Between $45,000 And $107,000 |
| Highest paying City | Washington, DC | Seattle, WA |
| Highest paying state | New York | Washington |
| Best paying company | The Citadel | The Citadel |
| Best paying industry | Government | Finance |
There are a few differences between an industrial analyst and a research analyst in terms of educational background:
| Industrial Analyst | Research Analyst | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 70% |
| Most common major | Business | Business |
| Most common college | Northwestern University | University of Georgia |
Here are the differences between industrial analysts' and research analysts' demographics:
| Industrial Analyst | Research Analyst | |
| Average age | 44 | 37 |
| Gender ratio | Male, 64.9% Female, 35.1% | Male, 50.8% Female, 49.2% |
| Race ratio | Black or African American, 7.5% Unknown, 4.5% Hispanic or Latino, 8.5% Asian, 14.5% White, 64.8% American Indian and Alaska Native, 0.2% | 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 | 12% | 10% |