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The differences between product analysts and business & finance 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 product analyst and a business & finance analyst. Additionally, a product analyst has an average salary of $79,316, which is higher than the $70,514 average annual salary of a business & finance analyst.
The top three skills for a product analyst include tableau, data analysis and product management. The most important skills for a business & finance analyst are financial analysis, business analysis, and shared services.
| Product Analyst | Business & Finance Analyst | |
| Yearly salary | $79,316 | $70,514 |
| Hourly rate | $38.13 | $33.90 |
| Growth rate | 11% | 9% |
| Number of jobs | 176,369 | 168,111 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 71% |
| Average age | 44 | 40 |
| Years of experience | 4 | 4 |
A product analyst job utilizes data analysis software and notates trends in market research. Primarily, analysts project the costs of product development and marketing. They think of the possibilities for profit and sales and monitor the performance of products on the market to come up with a better product. Their responsibilities include company product evaluation, product understanding, and product rating reviews. Familiarity with Microsoft Office Suite, strong communication skills, and proficiency in database software is necessary for this job.
A financial business analyst is also referred to as a business analyst who recommends and enforces corporate efficiency and profitability methods. Financial business analysts analyze the business model and finances of an organization. Their findings serve as the source of their suggestions to improve businesses' budgeting, management, and overall operations. They have the ability to predict the outcome of the decisions made by enterprises. The skills necessary for this job include interpersonal skills, management experience, financial reporting, and strong communication skills.
Product analysts and business & finance analysts have different pay scales, as shown below.
| Product Analyst | Business & Finance Analyst | |
| Average salary | $79,316 | $70,514 |
| Salary range | Between $56,000 And $111,000 | Between $50,000 And $99,000 |
| Highest paying City | Seattle, WA | San Francisco, CA |
| Highest paying state | Washington | Washington |
| Best paying company | Meta | |
| Best paying industry | Technology | Finance |
There are a few differences between a product analyst and a business & finance analyst in terms of educational background:
| Product Analyst | Business & Finance Analyst | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Pennsylvania |
Here are the differences between product analysts' and business & finance analysts' demographics:
| Product Analyst | Business & Finance Analyst | |
| Average age | 44 | 40 |
| Gender ratio | Male, 53.2% Female, 46.8% | Male, 55.6% Female, 44.4% |
| Race ratio | Black or African American, 7.6% Unknown, 4.5% Hispanic or Latino, 8.5% Asian, 14.6% White, 64.6% American Indian and Alaska Native, 0.2% | Black or African American, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 12% | 7% |