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The differences between research analysts and investment advisors 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 an investment advisor takes usually requires 2-4 years. Additionally, an investment advisor has an average salary of $105,377, 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 an investment advisor are exceptional client, risk management, and client relationships.
| Research Analyst | Investment Advisor | |
| Yearly salary | $70,232 | $105,377 |
| Hourly rate | $33.77 | $50.66 |
| Growth rate | 19% | 15% |
| Number of jobs | 81,374 | 63,438 |
| Job satisfaction | 4.5 | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 76% |
| Average age | 37 | 45 |
| 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.
An investment advisor is responsible for managing the clients' financial portfolios, advising them of investment options according to their financial goals and objectives, and their ability to handle risks. Investment advisors should have excellent knowledge of the investment policies, providing the clients with the best financial strategies according to their interests. They also determine their expenses, income, and credit scores to identify a comprehensive financial plan. An investment advisor helps the clients with cash management techniques, as well as conducting data analysis on financial market projections.
Research analysts and investment advisors have different pay scales, as shown below.
| Research Analyst | Investment Advisor | |
| Average salary | $70,232 | $105,377 |
| Salary range | Between $45,000 And $107,000 | Between $60,000 And $184,000 |
| Highest paying City | Seattle, WA | New York, NY |
| Highest paying state | Washington | New York |
| Best paying company | The Citadel | McKinsey & Company Inc |
| Best paying industry | Finance | Telecommunication |
There are a few differences between a research analyst and an investment advisor in terms of educational background:
| Research Analyst | Investment Advisor | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Minnesota - Twin Cities |
Here are the differences between research analysts' and investment advisors' demographics:
| Research Analyst | Investment Advisor | |
| Average age | 37 | 45 |
| Gender ratio | Male, 50.8% Female, 49.2% | Male, 72.3% Female, 27.7% |
| 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, 4.4% Hispanic or Latino, 9.4% Asian, 8.2% White, 72.3% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 10% | 5% |