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The differences between research analysts and product 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 product analyst takes usually requires 2-4 years. Additionally, a product analyst has an average salary of $79,316, 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 product analyst are tableau, data analysis, and product management.
| Research Analyst | Product Analyst | |
| Yearly salary | $70,232 | $79,316 |
| Hourly rate | $33.77 | $38.13 |
| Growth rate | 19% | 11% |
| Number of jobs | 81,374 | 176,369 |
| Job satisfaction | 4.5 | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 73% |
| 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.
A product analyst job utilizes data analysis software and notates trends in market research. Primarily, analysts project the costs of product development and marketing. They think of the possibilities for profit and sales and monitor the performance of products on the market to come up with a better product. Their responsibilities include company product evaluation, product understanding, and product rating reviews. Familiarity with Microsoft Office Suite, strong communication skills, and proficiency in database software is necessary for this job.
Research analysts and product analysts have different pay scales, as shown below.
| Research Analyst | Product Analyst | |
| Average salary | $70,232 | $79,316 |
| Salary range | Between $45,000 And $107,000 | Between $56,000 And $111,000 |
| Highest paying City | Seattle, WA | Seattle, WA |
| Highest paying state | Washington | Washington |
| Best paying company | The Citadel | Meta |
| Best paying industry | Finance | Technology |
There are a few differences between a research analyst and a product analyst in terms of educational background:
| Research Analyst | Product Analyst | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between research analysts' and product analysts' demographics:
| Research Analyst | Product Analyst | |
| Average age | 37 | 44 |
| Gender ratio | Male, 50.8% Female, 49.2% | Male, 53.2% Female, 46.8% |
| 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, 7.6% Unknown, 4.5% Hispanic or Latino, 8.5% Asian, 14.6% White, 64.6% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 10% | 12% |