Principal research economist vs economist

The differences between principal research economists and economists can be seen in a few details. Each job has different responsibilities and duties. Additionally, an economist has an average salary of $109,102, which is higher than the $91,494 average annual salary of a principal research economist.

The top three skills for a principal research economist include C++, research projects and data analysis. The most important skills for an economist are economic research, research findings, and economic analysis.

Principal research economist vs economist overview

	Principal Research Economist	Economist
Yearly salary	$91,494	$109,102
Hourly rate	$43.99	$52.45
Growth rate	6%	6%
Number of jobs	85,025	1,029
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 56%	Bachelor's Degree, 58%
Average age	45	45
Years of experience	-	-

What does a principal research economist do?

Principal Research Economists are responsible for developing macroeconomic models to help inform the operational policies of an organization. Their duties include creating macro-econometric models, conduct forecasts and simulations, advising senior management in economic policy-making as well as perform macroeconomic research. Besides that, they prepare development reports, conduct macroeconomic projections, and organize research conferences or seminars. Principal Research Economists also assist in creating capacity development programs for institutional organizations and regional member countries.

What does an economist do?

The primary role of economists is to study how society distributes resources, including raw materials, land, and labor, to create goods and services. They perform various tasks, including conducting research, monitoring economic trends, and devising forecasts on a wide range of issues such as inflation, interest rates, and employment. Additionally, they are responsible for preparing reports and presentations and advising individuals, businesses, and governments on economic issues. Economists are also responsible for designing policies or making recommendations for resolving economic problems.

Principal research economist vs economist salary

Principal research economists and economists have different pay scales, as shown below.

	Principal Research Economist	Economist
Average salary	$91,494	$109,102
Salary range	Between $61,000 And $136,000	Between $73,000 And $162,000
Highest paying City	San Francisco, CA	Washington, DC
Highest paying state	Alaska	Montana
Best paying company	Microsoft	Cornerstone Research
Best paying industry	Finance	Professional

Differences between principal research economist and economist education

There are a few differences between a principal research economist and an economist in terms of educational background:

	Principal Research Economist	Economist
Most common degree	Bachelor's Degree, 56%	Bachelor's Degree, 58%
Most common major	Economics	Economics
Most common college	Massachusetts Institute of Technology	Harvard University

Principal research economist vs economist demographics

Here are the differences between principal research economists' and economists' demographics:

	Principal Research Economist	Economist
Average age	45	45
Gender ratio	Male, 65.8% Female, 34.2%	Male, 59.2% Female, 40.8%
Race ratio	Black or African American, 5.7% Unknown, 5.6% Hispanic or Latino, 10.6% Asian, 16.9% White, 61.0% American Indian and Alaska Native, 0.2%	Black or African American, 6.4% Unknown, 5.7% Hispanic or Latino, 12.1% Asian, 13.1% White, 62.4% American Indian and Alaska Native, 0.2%
LGBT Percentage	8%	8%

Differences between principal research economist and economist duties and responsibilities

Principal research economist example responsibilities.

Lead the advanced receiver hardware prototyping and evaluate the receiver performance.
Develop a discrete choice modeling procedure (CMDC) in the SAS cloud computingplatform (SAS Viya).
Initial testing involve regression modeling to determine external variable sensitivity to default and foreclosure.
Mitigate unexpected talent loss by developing a logistic regression model design to evaluate attrition risk for newly-hire employees.
Train and teach new graduate students, summer students immunological and microbiology assays, teach basic concepts of immunology and microbiology.
Partner with contractors and external stakeholders as expert on financial and economic analyses for complex litigation cases.

Economist example responsibilities.

Manage, utilize, and archive database for commodities in assign areas.
Lead the advanced receiver hardware prototyping and evaluate the receiver performance.
Formulate USDA policy positions and apprise decision makers on their implications.
Provide economic and financial analysis, particularly on treasury functions and natural resource taxation.
Ensure compliance with HIPAA and FDA.
Support FDA filing for azimilide.

Principal research economist vs economist skills

Common principal research economist skills

C++, 18%
Research Projects, 16%
Data Analysis, 7%
Data Collection, 6%
Project Management, 5%
Independent Research, 4%

Common economist skills

Economic Research, 9%
Research Findings, 7%
Economic Analysis, 6%
Research Projects, 4%
Econometrics, 4%
Project Management, 4%

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Principal Research Economist
Principal Research Economist vs Economist

Updated January 8, 2025

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