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The differences between merchandise analysts and senior 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 a merchandise analyst and a senior research analyst. Additionally, a senior research analyst has an average salary of $75,056, which is higher than the $67,933 average annual salary of a merchandise analyst.
The top three skills for a merchandise analyst include powerpoint, SQL and data analysis. The most important skills for a senior research analyst are analytics, data analysis, and data collection.
| Merchandise Analyst | Senior Research Analyst | |
| Yearly salary | $67,933 | $75,056 |
| Hourly rate | $32.66 | $36.08 |
| Growth rate | 19% | 19% |
| Number of jobs | 38,127 | 71,891 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 83% | Bachelor's Degree, 68% |
| Average age | 37 | 37 |
| Years of experience | 6 | 6 |
A merchandise analyst is an individual who monitors inventory levels while following and charting the profits and sales of a store or company. Merchandise analysts are required to identify appropriate industry and product categories so that they can focus on maximizing the business of each store. They must review and analyze weekly advertisement results with team members to meet their sales goals as well as identify causes of high carryover and methods for reduction. Merchandise analysts must also use data analysis to identify markets and fine-tune merchandise.
The duties of a senior research analyst depend on one's line of work or industry of employment. Typically, their responsibilities revolve around coordinating with different departments to gather necessary data, performing research and analysis to identify consumer and market needs, finding new business opportunities, and devising strategies to optimize workflow and workforce processes. Furthermore, as a senior research analyst, it is essential to lead and encourage the team members and serve as a mentor to junior analysts, all while implementing the company's policies and regulations.
Merchandise analysts and senior research analysts have different pay scales, as shown below.
| Merchandise Analyst | Senior Research Analyst | |
| Average salary | $67,933 | $75,056 |
| Salary range | Between $49,000 And $92,000 | Between $57,000 And $98,000 |
| Highest paying City | Seattle, WA | Olympia, WA |
| Highest paying state | Washington | Washington |
| Best paying company | Macy's | JPMorgan Chase & Co. |
| Best paying industry | Retail | Finance |
There are a few differences between a merchandise analyst and a senior research analyst in terms of educational background:
| Merchandise Analyst | Senior Research Analyst | |
| Most common degree | Bachelor's Degree, 83% | Bachelor's Degree, 68% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between merchandise analysts' and senior research analysts' demographics:
| Merchandise Analyst | Senior Research Analyst | |
| Average age | 37 | 37 |
| Gender ratio | Male, 36.6% Female, 63.4% | Male, 54.1% Female, 45.9% |
| Race ratio | Black or African American, 5.1% Unknown, 5.0% Hispanic or Latino, 12.2% Asian, 10.7% White, 66.9% American Indian and Alaska Native, 0.1% | Black or African American, 4.7% Unknown, 4.9% Hispanic or Latino, 11.2% Asian, 14.1% White, 65.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 10% | 10% |