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The differences between principal research economists and principal research scientists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a principal research scientist has an average salary of $127,191, 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 a principal research scientist are research projects, principal research, and data analysis.
| Principal Research Economist | Principal Research Scientist | |
| Yearly salary | $91,494 | $127,191 |
| Hourly rate | $43.99 | $61.15 |
| Growth rate | 6% | 17% |
| Number of jobs | 85,025 | 126,911 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 53% |
| Average age | 45 | 41 |
| Years of experience | - | 4 |
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.
Principal research scientists are responsible for designing and directing research laboratories, commencing new research activities, and searching for funding opportunities. Other duties include presenting proposals and attaining the terms of research grants and contracts, organizing, running, and reporting on original research, as well as constituting their research groups externally. These scientists usually propose, implement, and report a distinguished scientific program. The individuals appointed on this role may regularly serve as chief investigators on grants and contracts.
Principal research economists and principal research scientists have different pay scales, as shown below.
| Principal Research Economist | Principal Research Scientist | |
| Average salary | $91,494 | $127,191 |
| Salary range | Between $61,000 And $136,000 | Between $87,000 And $184,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Alaska | California |
| Best paying company | Microsoft | |
| Best paying industry | Finance | Start-up |
There are a few differences between a principal research economist and a principal research scientist in terms of educational background:
| Principal Research Economist | Principal Research Scientist | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 53% |
| Most common major | Economics | Chemistry |
| Most common college | Massachusetts Institute of Technology | Duke University |
Here are the differences between principal research economists' and principal research scientists' demographics:
| Principal Research Economist | Principal Research Scientist | |
| Average age | 45 | 41 |
| Gender ratio | Male, 65.8% Female, 34.2% | Male, 78.7% Female, 21.3% |
| 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, 6.3% Unknown, 4.1% Hispanic or Latino, 9.6% Asian, 26.4% White, 53.5% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 8% | 8% |