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The differences between market analysts and analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a market analyst, becoming an analyst takes usually requires 2-4 years. Additionally, an analyst has an average salary of $73,007, which is higher than the $61,606 average annual salary of a market analyst.
The top three skills for a market analyst include analytics, market research and provide management. The most important skills for an analyst are customer service, troubleshoot, and data analysis.
| Market Analyst | Analyst | |
| Yearly salary | $61,606 | $73,007 |
| Hourly rate | $29.62 | $35.10 |
| Growth rate | 19% | 11% |
| Number of jobs | 35,278 | 253,138 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 67% |
| Average age | 37 | 44 |
| Years of experience | 6 | 4 |
A market analyst is responsible for examining relevant information that will aid the organization to make informed decisions on market strategy. You will be responsible for assessing consumer preferences that will help the company decide how to advertise and market their products. Other typical duties that you will perform may include devising and evaluating methods for gathering data such as opinion polls, surveys, and questionnaires, interpreting the data and organizing this into statistical reports and tables, and creating visuals of industry trends.
Analysts are employees or individual contributors with a vast experience in a particular field that help the organization address challenges. They help the organization improve processes, policies, and other operations protocol by studying the current processes in place and determining the effectiveness of those processes. They also research industry trends and data to make sound inferences and recommendations on what the company should do to improve their numbers. Analysts recommend business solutions and often help the organization roll out these solutions. They ensure that the proposed action plans are effective and produce the desired results.
Market analysts and analysts have different pay scales, as shown below.
| Market Analyst | Analyst | |
| Average salary | $61,606 | $73,007 |
| Salary range | Between $41,000 And $90,000 | Between $53,000 And $99,000 |
| Highest paying City | Seattle, WA | Jersey City, NJ |
| Highest paying state | Delaware | New Jersey |
| Best paying company | Intuitive Surgical | The Citadel |
| Best paying industry | Finance | Technology |
There are a few differences between a market analyst and an analyst in terms of educational background:
| Market Analyst | Analyst | |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Georgia | Northwestern University |
Here are the differences between market analysts' and analysts' demographics:
| Market Analyst | Analyst | |
| Average age | 37 | 44 |
| Gender ratio | Male, 61.0% Female, 39.0% | Male, 52.4% Female, 47.6% |
| Race ratio | Black or African American, 4.8% Unknown, 4.9% Hispanic or Latino, 11.3% Asian, 14.4% White, 64.5% American Indian and Alaska Native, 0.1% | Black or African American, 7.4% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.3% White, 65.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 10% | 12% |