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The differences between principal research economists and senior research fellows can be seen in a few details. Each job has different responsibilities and duties. Additionally, a principal research economist has an average salary of $91,494, which is higher than the $62,129 average annual salary of a senior research fellow.
The top three skills for a principal research economist include C++, research projects and data analysis. The most important skills for a senior research fellow are python, research projects, and data analysis.
| Principal Research Economist | Senior Research Fellow | |
| Yearly salary | $91,494 | $62,129 |
| Hourly rate | $43.99 | $29.87 |
| Growth rate | 6% | 17% |
| Number of jobs | 85,025 | 53,535 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 52% |
| 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.
Senior Research Fellows are reputable researchers employed in an academic institution or a research facility. The nature of their employment in the institution is related to their research work or field of interest. Senior Research Fellows lead a team of researchers on big projects that require more team members. They manage the team's budget, set timelines, and guide the researchers. They spearhead the analysis of the data gathered. They also set the tone for the presentation materials. Senior Research Fellows should be passionate about their field, should have a thirst for knowledge, and should be able to lead teams.
Principal research economists and senior research fellows have different pay scales, as shown below.
| Principal Research Economist | Senior Research Fellow | |
| Average salary | $91,494 | $62,129 |
| Salary range | Between $61,000 And $136,000 | Between $40,000 And $95,000 |
| Highest paying City | San Francisco, CA | Urban Honolulu, HI |
| Highest paying state | Alaska | Hawaii |
| Best paying company | Microsoft | |
| Best paying industry | Finance | - |
There are a few differences between a principal research economist and a senior research fellow in terms of educational background:
| Principal Research Economist | Senior Research Fellow | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 52% |
| Most common major | Economics | Chemistry |
| Most common college | Massachusetts Institute of Technology | Duke University |
Here are the differences between principal research economists' and senior research fellows' demographics:
| Principal Research Economist | Senior Research Fellow | |
| Average age | 45 | 41 |
| Gender ratio | Male, 65.8% Female, 34.2% | Male, 56.1% Female, 43.9% |
| 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, 6.2% Unknown, 4.1% Hispanic or Latino, 9.4% Asian, 26.5% White, 53.7% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 8% | 8% |