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The differences between research analysts and finance 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 finance analyst takes usually requires 2-4 years. Additionally, a research analyst has an average salary of $70,232, which is higher than the $69,887 average annual salary of a finance analyst.
The top three skills for a research analyst include data analysis, data collection and research projects. The most important skills for a finance analyst are financial analysis, financial models, and financial data.
| Research Analyst | Finance Analyst | |
| Yearly salary | $70,232 | $69,887 |
| Hourly rate | $33.77 | $33.60 |
| Growth rate | 19% | 9% |
| Number of jobs | 81,374 | 138,600 |
| Job satisfaction | 4.5 | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 76% |
| Average age | 37 | 40 |
| 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.
A finance analyst is responsible for evaluating a company's financial data and historical reports to assess investment opportunities and provide accurate financial statements in support of business strategies and company performance prediction. A financial analyst's duties also include suggesting recommendations to boost operations efficiency and grow revenues, researching the current market performance and economic trends to adjust budget goals as needed, and managing client portfolios. Finance analysts must have excellent critical and analytical thinking skills to identify the best actions for the company's profitability.
Research analysts and finance analysts have different pay scales, as shown below.
| Research Analyst | Finance Analyst | |
| Average salary | $70,232 | $69,887 |
| Salary range | Between $45,000 And $107,000 | Between $46,000 And $104,000 |
| Highest paying City | Seattle, WA | San Francisco, CA |
| Highest paying state | Washington | Connecticut |
| Best paying company | The Citadel | The Citadel |
| Best paying industry | Finance | Finance |
There are a few differences between a research analyst and a finance analyst in terms of educational background:
| Research Analyst | Finance Analyst | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Pennsylvania |
Here are the differences between research analysts' and finance analysts' demographics:
| Research Analyst | Finance Analyst | |
| Average age | 37 | 40 |
| Gender ratio | Male, 50.8% Female, 49.2% | Male, 56.2% Female, 43.8% |
| 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, 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 | 10% | 7% |