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The differences between research analysts and senior research analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a research analyst and a senior research analyst. Additionally, a senior research analyst has an average salary of $75,056, 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 senior research analyst are analytics, data analysis, and data collection.
| Research Analyst | Senior Research Analyst | |
| Yearly salary | $70,232 | $75,056 |
| Hourly rate | $33.77 | $36.08 |
| Growth rate | 19% | 19% |
| Number of jobs | 81,374 | 71,891 |
| Job satisfaction | 4.5 | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 68% |
| Average age | 37 | 37 |
| Years of experience | 6 | 6 |
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.
The duties of a senior research analyst depend on one's line of work or industry of employment. Typically, their responsibilities revolve around coordinating with different departments to gather necessary data, performing research and analysis to identify consumer and market needs, finding new business opportunities, and devising strategies to optimize workflow and workforce processes. Furthermore, as a senior research analyst, it is essential to lead and encourage the team members and serve as a mentor to junior analysts, all while implementing the company's policies and regulations.
Research analysts and senior research analysts have different pay scales, as shown below.
| Research Analyst | Senior Research Analyst | |
| Average salary | $70,232 | $75,056 |
| Salary range | Between $45,000 And $107,000 | Between $57,000 And $98,000 |
| Highest paying City | Seattle, WA | Olympia, WA |
| Highest paying state | Washington | Washington |
| Best paying company | The Citadel | JPMorgan Chase & Co. |
| Best paying industry | Finance | Finance |
There are a few differences between a research analyst and a senior research analyst in terms of educational background:
| Research Analyst | Senior Research Analyst | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 68% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Georgia |
Here are the differences between research analysts' and senior research analysts' demographics:
| Research Analyst | Senior Research Analyst | |
| Average age | 37 | 37 |
| Gender ratio | Male, 50.8% Female, 49.2% | Male, 54.1% Female, 45.9% |
| 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, 4.7% Unknown, 4.9% Hispanic or Latino, 11.2% Asian, 14.1% White, 65.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 10% | 10% |