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The differences between procurement analysts and business analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a procurement analyst and a business analyst. Additionally, a business analyst has an average salary of $74,431, which is higher than the $64,448 average annual salary of a procurement analyst.
The top three skills for a procurement analyst include purchase orders, supplier performance and customer service. The most important skills for a business analyst are project management, data analysis, and business analysis.
| Procurement Analyst | Business Analyst | |
| Yearly salary | $64,448 | $74,431 |
| Hourly rate | $30.98 | $35.78 |
| Growth rate | 11% | 9% |
| Number of jobs | 75,154 | 170,514 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 71% |
| Average age | 44 | 44 |
| Years of experience | 4 | 4 |
Procurement analysts procure favorable contracts by acting as liaisons between suppliers and their employers. They are hired by organizations that rely on supply chain management to analyze and evaluate potential suppliers, prepare reports about monthly supply costs, and negotiate contracts. With good critical thinking skills, these procurement analysts who are also known as purchasing analysts, evaluate vendors and suppliers based on the speed of delivery, quality, and price. They use quantitative methods to support fact-based decision-making to become competitive and to ensure cost-efficiency and high quality of the products and services.
Business analysts are employees who are responsible for interpreting business data and coming up with business solutions. They are well-versed in whatever business the company is in, and they have strong business acumen. They collect data related to the business and then interpret and analyze the data. Business analysts should be able to conduct different levels of analyses and must also be able to create a sound study. Once the analysis is done, they provide recommendations or strategic direction to decision-makers that will help the business become sustainable and grow.
Procurement analysts and business analysts have different pay scales, as shown below.
| Procurement Analyst | Business Analyst | |
| Average salary | $64,448 | $74,431 |
| Salary range | Between $45,000 And $91,000 | Between $53,000 And $103,000 |
| Highest paying City | Washington, DC | Mountain View, CA |
| Highest paying state | Maryland | Washington |
| Best paying company | PayPal | The Citadel |
| Best paying industry | Retail | Finance |
There are a few differences between a procurement analyst and a business analyst in terms of educational background:
| Procurement Analyst | Business Analyst | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | Northwestern University | Stanford University |
Here are the differences between procurement analysts' and business analysts' demographics:
| Procurement Analyst | Business Analyst | |
| Average age | 44 | 44 |
| Gender ratio | Male, 47.7% Female, 52.3% | Male, 53.9% Female, 46.1% |
| Race ratio | Black or African American, 8.2% Unknown, 4.5% Hispanic or Latino, 9.0% Asian, 11.8% White, 66.4% American Indian and Alaska Native, 0.2% | Black or African American, 6.2% Unknown, 4.7% Hispanic or Latino, 8.8% Asian, 12.0% White, 67.7% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 12% | 11% |