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The differences between purchase analysts and 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 purchase analyst and an analyst. Additionally, an analyst has an average salary of $73,007, which is higher than the $64,581 average annual salary of a purchase analyst.
The top three skills for a purchase analyst include purchase orders, supplier performance and continuous improvement. The most important skills for an analyst are customer service, troubleshoot, and data analysis.
| Purchase Analyst | Analyst | |
| Yearly salary | $64,581 | $73,007 |
| Hourly rate | $31.05 | $35.10 |
| Growth rate | 11% | 11% |
| Number of jobs | 88,542 | 253,138 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 67% |
| Average age | 44 | 44 |
| Years of experience | 4 | 4 |
A purchase analyst is responsible for looking at the market outlook and determining what and when to buy when ordering supplies. They are responsible for making an investment in a product or technology, and contracting with vendors. You have varied duties and responsibilities that include researching product prices and comparisons, determining price history and cost-effectiveness, and providing leadership for logistics, resource management decisions, and sourcing. You will also be responsible for purchasing equipment from suppliers and working closely with leadership to develop sourcing strategies.
Analysts are employees or individual contributors with a vast experience in a particular field that help the organization address challenges. They help the organization improve processes, policies, and other operations protocol by studying the current processes in place and determining the effectiveness of those processes. They also research industry trends and data to make sound inferences and recommendations on what the company should do to improve their numbers. Analysts recommend business solutions and often help the organization roll out these solutions. They ensure that the proposed action plans are effective and produce the desired results.
Purchase analysts and analysts have different pay scales, as shown below.
| Purchase Analyst | Analyst | |
| Average salary | $64,581 | $73,007 |
| Salary range | Between $42,000 And $98,000 | Between $53,000 And $99,000 |
| Highest paying City | Milford, MA | Jersey City, NJ |
| Highest paying state | New Jersey | New Jersey |
| Best paying company | MPS Horticulture | The Citadel |
| Best paying industry | Retail | Technology |
There are a few differences between a purchase analyst and an analyst in terms of educational background:
| Purchase Analyst | Analyst | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | Northwestern University | Northwestern University |
Here are the differences between purchase analysts' and analysts' demographics:
| Purchase Analyst | Analyst | |
| Average age | 44 | 44 |
| Gender ratio | Male, 45.8% Female, 54.2% | Male, 52.4% Female, 47.6% |
| Race ratio | Black or African American, 8.4% Unknown, 4.5% Hispanic or Latino, 9.1% Asian, 10.6% White, 67.2% American Indian and Alaska Native, 0.2% | Black or African American, 7.4% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.3% White, 65.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 12% | 12% |