Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between research analysts and business analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a research analyst, becoming a business analyst takes usually requires 2-4 years. Additionally, a business analyst has an average salary of $74,431, which is higher than the $70,232 average annual salary of a research analyst.
The top three skills for a research analyst include data analysis, data collection and research projects. The most important skills for a business analyst are project management, data analysis, and business analysis.
| Research Analyst | Business Analyst | |
| Yearly salary | $70,232 | $74,431 |
| Hourly rate | $33.77 | $35.78 |
| Growth rate | 19% | 9% |
| Number of jobs | 81,374 | 170,514 |
| Job satisfaction | 4.5 | 4 |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 71% |
| Average age | 37 | 44 |
| Years of experience | 6 | 4 |
A research analyst is responsible for providing a company with insights and advice concerning finance, investments, and expenditures. Utilizing their analytical skills and extensive expertise in marketing, they analyze the trends and significant factors to conclude which decision should be the best to make. They can also take part in conducting an in-depth analysis of a business and examine which areas require improvement or has potential. Furthermore, they may work with a company or independently as a freelance analyst.
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.
Research analysts and business analysts have different pay scales, as shown below.
| Research Analyst | Business Analyst | |
| Average salary | $70,232 | $74,431 |
| Salary range | Between $45,000 And $107,000 | Between $53,000 And $103,000 |
| Highest paying City | Seattle, WA | Mountain View, CA |
| Highest paying state | Washington | Washington |
| Best paying company | The Citadel | The Citadel |
| Best paying industry | Finance | Finance |
There are a few differences between a research analyst and a business analyst in terms of educational background:
| Research Analyst | Business Analyst | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Georgia | Stanford University |
Here are the differences between research analysts' and business analysts' demographics:
| Research Analyst | Business Analyst | |
| Average age | 37 | 44 |
| Gender ratio | Male, 50.8% Female, 49.2% | Male, 53.9% Female, 46.1% |
| Race ratio | Black or African American, 4.7% Unknown, 4.9% Hispanic or Latino, 11.3% Asian, 14.3% White, 64.7% American Indian and Alaska Native, 0.1% | 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 | 10% | 11% |