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The differences between research analysts and policy 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 policy analyst takes usually requires 2-4 years. Additionally, a research analyst has an average salary of $70,232, which is higher than the $66,359 average annual salary of a policy analyst.
The top three skills for a research analyst include data analysis, data collection and research projects. The most important skills for a policy analyst are public policy, policy analysis, and policy issues.
| Research Analyst | Policy Analyst | |
| Yearly salary | $70,232 | $66,359 |
| Hourly rate | $33.77 | $31.90 |
| Growth rate | 19% | 11% |
| Number of jobs | 81,374 | 69,173 |
| Job satisfaction | 4.5 | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 65% |
| 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.
Policy analysts are responsible for developing government policies and providing advice and briefing to senior management. These professionals work to influence both social and political decisions. They typically work in four key areas, including collecting information, analyzing policies, providing recommendations, and sharing information with government officials and the public. Additionally, they are also expected to consult with stakeholders to provide quantitative evidence supporting their policy. The rest of their time is spent on writing, reading, and analyzing information.
Research analysts and policy analysts have different pay scales, as shown below.
| Research Analyst | Policy Analyst | |
| Average salary | $70,232 | $66,359 |
| Salary range | Between $45,000 And $107,000 | Between $47,000 And $92,000 |
| Highest paying City | Seattle, WA | Seattle, WA |
| Highest paying state | Washington | Connecticut |
| Best paying company | The Citadel | Apple |
| Best paying industry | Finance | Insurance |
There are a few differences between a research analyst and a policy analyst in terms of educational background:
| Research Analyst | Policy Analyst | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 65% |
| Most common major | Business | Political Science |
| Most common college | University of Georgia | Northwestern University |
Here are the differences between research analysts' and policy analysts' demographics:
| Research Analyst | Policy Analyst | |
| Average age | 37 | 44 |
| Gender ratio | Male, 50.8% Female, 49.2% | Male, 46.1% Female, 53.9% |
| 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, 8.4% Unknown, 4.5% Hispanic or Latino, 9.1% Asian, 12.1% White, 65.7% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 10% | 12% |