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The differences between principal research economists and research engineers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a research engineer has an average salary of $96,945, 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 research engineer are python, java, and software development.
| Principal Research Economist | Research Engineer | |
| Yearly salary | $91,494 | $96,945 |
| Hourly rate | $43.99 | $46.61 |
| Growth rate | 6% | 2% |
| Number of jobs | 85,025 | 136,763 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 65% |
| Average age | 45 | 41 |
| Years of experience | - | 6 |
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.
Research Engineers are responsible for a wide range of duties, including researching and developing new technologies and prototypes, and finding solutions to improve techniques, procedures, and technologies.
Principal research economists and research engineers have different pay scales, as shown below.
| Principal Research Economist | Research Engineer | |
| Average salary | $91,494 | $96,945 |
| Salary range | Between $61,000 And $136,000 | Between $67,000 And $138,000 |
| Highest paying City | San Francisco, CA | Menlo Park, CA |
| Highest paying state | Alaska | California |
| Best paying company | Microsoft | The Citadel |
| Best paying industry | Finance | Start-up |
There are a few differences between a principal research economist and a research engineer in terms of educational background:
| Principal Research Economist | Research Engineer | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 65% |
| Most common major | Economics | Mechanical Engineering |
| Most common college | Massachusetts Institute of Technology | Georgia Institute of Technology |
Here are the differences between principal research economists' and research engineers' demographics:
| Principal Research Economist | Research Engineer | |
| Average age | 45 | 41 |
| Gender ratio | Male, 65.8% Female, 34.2% | Male, 81.7% Female, 18.3% |
| 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, 3.1% Unknown, 4.5% Hispanic or Latino, 7.8% Asian, 16.9% White, 67.6% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 8% | 5% |