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The differences between market analysts and finance 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 a finance analyst takes usually requires 2-4 years. Additionally, a finance analyst has an average salary of $69,887, 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 a finance analyst are financial analysis, financial models, and financial data.
| Market Analyst | Finance Analyst | |
| Yearly salary | $61,606 | $69,887 |
| Hourly rate | $29.62 | $33.60 |
| Growth rate | 19% | 9% |
| Number of jobs | 35,278 | 138,600 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 76% |
| Average age | 37 | 40 |
| 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.
A finance analyst is responsible for evaluating a company's financial data and historical reports to assess investment opportunities and provide accurate financial statements in support of business strategies and company performance prediction. A financial analyst's duties also include suggesting recommendations to boost operations efficiency and grow revenues, researching the current market performance and economic trends to adjust budget goals as needed, and managing client portfolios. Finance analysts must have excellent critical and analytical thinking skills to identify the best actions for the company's profitability.
Market analysts and finance analysts have different pay scales, as shown below.
| Market Analyst | Finance Analyst | |
| Average salary | $61,606 | $69,887 |
| Salary range | Between $41,000 And $90,000 | Between $46,000 And $104,000 |
| Highest paying City | Seattle, WA | San Francisco, CA |
| Highest paying state | Delaware | Connecticut |
| Best paying company | Intuitive Surgical | The Citadel |
| Best paying industry | Finance | Finance |
There are a few differences between a market analyst and a finance analyst in terms of educational background:
| Market Analyst | Finance Analyst | |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Pennsylvania |
Here are the differences between market analysts' and finance analysts' demographics:
| Market Analyst | Finance Analyst | |
| Average age | 37 | 40 |
| Gender ratio | Male, 61.0% Female, 39.0% | Male, 56.2% Female, 43.8% |
| 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, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 10% | 7% |